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Old 11-11-2015, 11:20 AM   #1

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Interesting New Book

Fooled by Technical Analysis
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Old 08-19-2016, 10:32 AM   #2

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Re: Interesting New Book

I find the title very off putting.

When I buy a book (rare) I'd like to own the fkinck thing rather than subscribe to it for a limited time online. It makes me suspect that the author reserves the right to change his mind about whatever he believes/doesn't believe in at this moment in time and update the book. I think you should do all your rewrites in private rather than have me subsidise your research.

Having said that, PAL is a decent blog and it appears Harris does an enormous amount of work which is well presented. I'm afraid I'm not a fan though.His CV doesn't factor into the scheme of things for me either. The biggest losers in the trading world have impressive CV's. (Not that I'm insinuating anything about the guy's trading abilities .It's just unfortunate that all the people I'm no great fan of in this world all have great CV's)

Data mining, statistics, pattern recognition and allied software may have their place to a certain degree but unfortunately they all fall foul in the area of context. More importantly,they are always trumped by 'trade what you see, not what you think' I could care less about the statistics when price is doing the exact opposite.

Which kind of begs the question, if you can read a market what use are stats? Well, they do have their place, just not no 1 on the list.
But of course, being able to 'trade what you see' takes years and I mean years not weeks or months.

This is where zdo's 'the voice of trading' causes so many problems for amateurs. 'Trade what you see' is a reminder for pro's not to distrust their hard won instinct. It's not in any way useful advice for the inexperienced. It's actually potentially dangerous.

'Plan your trade, trade your plan' that's on the same lines i.e., it's useless stupid advice for the inexperienced. Every pro plans their trade, it's the amateur who sticks to it blindly.

But back to the book (which I won't be subscribing to) go ahead by all means, just realise you'll be no closer to your goal than your are now.

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