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Re: Technical Analysis: Is it voodoo? Or does it work?
market profile does NOT fall outside TA
all market profiles are is a model of price/volume over time
which is exactly what ANY chart is. its just a different way of modeling it
this is what drives me nuts is this ninja superspecial religiosity when it comes to Market Profile and that it's not TA like those icky lagging indicators etc.
TA is the study of price, and information derived from price
clearly, no equivocation, MP is TA
2nd. i get really tired of this stupid meme that TA means EVERYTHING that is already known is reflected in price. that is complete and utter rubbish.
you can CLEARLY get an edge using fundies, just like you can with TA. *if* all knowledge was reflected in price, this would not be the case.
i love TA. i make my frigging living using TA. but i don't play that silly "all information is reflected in price" game cause it's simply bogus
enough information is reflected by price, such that skilled traders can use TA (the study of price) TO trade successfully.
it does NOT follow that all is reflected in price.
i have made my best returns this last year using fundies, where i did not even look at a chart. because my edge (in those stocks) came from fundamentals.
there is this little academic myth called efficient market hypothesis (still the rage among many academics) that markets are efficiently priced. it's rubbish
there is this other myth popularized among many TA adherents, that ALL information is reflected in price.
this is ALSO rubbish
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