This came up once before and Ibeza and i were chatting about it . The Australian technical traders association sums it up pretty well with a code of ethics they have . While i understand many use different methods time frames etc it does help explain to some what technical trading is and how it does change quicker than fundamentals in different time frames so has different analysis .
FTA Code of Ethics
The Technical Analyst (IFTA Colleague) must maintain at all times the highest standards of professional conduct. Implicit in the requirement is strict compliance with the laws of the national, state and local governments which have jurisdiction over the analysts' professional activities. The analyst shall also obey the regulations of his/her local exchanges and/or local regulatory authorities.
The analyst shall not make statements which he/she knows, or has reason to believe, are inaccurate or misleading. He/she shall, in particular, be careful to avoid leading an audience to believe that his/her technically-derived views of future market price behavior reflect foreknowledge rather than estimate and projections subject to re-examinations and, as circumstances may dictate, to change.
The analyst shall not make statements concerning the current technical position of the a market of any of its components or any of its aspects unless he/she can demonstrate that such statements are reasonable and consistent in light of the available evidence and the accumulated knowledge in the field of technical analysis. New developements in technical analysis as well as modifications of existing techniques or concepts should be fully documented as to procedure and rationale.
While that is for an association in general i find the technical traders to be quite forthcoming with information when asked and provide charts to examine there as evidence of what time frame they are chatting about .
In some ways this can be quite quicker than fundamentals as it a picture telling a story without the time of calculations checking reports etc etc
All good i mostly hang around here and like when people are doing technical entries etc As when i joined there were not alot coming through . Pilsner was great and Dazed charts each week are a great point to start each week wether you technical trade or for sifting .
We have a bit of unwritten rule we dont comment on entries technically much but sometimes some of us speak out what our thought s are whether right or wrong for discussion.
In saying that i made a list of sniper type entries of the fifty stocks list i snapshot-ed from a dalmatians scan to trade technically with a five grander portfolio .@forrestfield
This is the list for any technical or not technical traders to have a sticky at . I describe most as bell curves fallen halfway ie Resistance to falling all the way stt and possible cup handles form .A lot have had good runs as you can see . The question on both technical and findementals is will they do better over a year and provide consistent entries exits to short term trade . ie one of the criteria in the dalmatians is yearly volatility of 30 to seventy percent .We try pick the swing first over a forty day time frame for the regression
We try pick ourselves into the volatility somewhere to trade . With mixed results in trials thats for sure as we try cover to many patterns with not enough stocks last year . Repeat stocks we like see and we capture a small segment of the market that for sure .
Stocks we sifted down last weekend are bkt ctp dvi fun gmm ird lit mnt rap slr sbm tam and try .
Of course a lot of it is just trialing openingly for critic or to stimulate other stt into thought with entries exits and strategy .I like what Rick64 is doing and hibikan333 they stimulate me into thinking with the record keeping and i like seeing them achieve better results .
Small amount large amount brokerages etc As they collate the results you see trends for perusal . Like over trading not staying with trend not exiting early all the stuff we do consistently .
On the spritzers again .Gordons Gin and Elderflower not to bad Smirnoff apple elderflower and soda bit sour but enjoyable with heaps of ice . The Gin is the best one Sector Lead and Glad .
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