systematize various TA techniques

This is what exactly happens to forex beginners. They are sure to have learnt something, but they are being muddleheaded instead of having a systematic knowledge. Medical students undergo a course of anatomy. Geologists and military men make use of topographic maps. And what do forex beginners have to this end? You are free to interrogate any scientist if he has knowledge of parts of science without having knowledge of the whole. Guess, what he's gonna answer? And now give consideration to what is being currently published on forex and being accessible to anyone. Thereafter You will easily "evaluate" the "outstanding contribution" made by each of forex scholars.

4. Methodology and techniques subjectivism and absence of objectivity. See live scholar, Th. Demark's "Technical Analysis As An Emerging Science" recommending to manually draw R&S lines from the right to the left instead of so previously doing from the left to the right. The book's preface qualifies it to be "refined techniques built during a quarter of a century of a laborious scrutiny of market tendencies and projecting methods". And thereinafter: "Demark's empiric-data strictly scientific approaches are in striking difference from an artistic intuitive one thus constituting a rational basis for dynamic systems, mechanically outputting market signals." But, with having not disclosed his system's essence, is Demark aware that his subjective forex trading suggestions may happen to entail severe mistakes. Yeah, he substantiates his viewpoint in chapter "Why price projections may not go into effect": "...due to no technique being perfect". Good a science with "no technique being perfect"!

Demark is looking rather a philosopher, than a trader with his tirade being nothing but a sophism, made use of as back as in ancient Greece to provide grounds and protection for any kind of absurd.

In accordance to Demark, "a mistake becomes obvious the next day as soon, as the first deal price is registered". I am itching to ask the scholar: "How many points may a currency travel in a wrong direction during an earth day?" I am answering myself: 100 pts or 200 pts or more. Demark diagnoses: "This instance evidences a breach, indicative of a new opposite tendency". Well, I've got it.

Once there is loss, one should loss-close and enter oppositely.

Take a look at the picture below:

Fig.10. EURUSD H1 chart as of March, 22 - April, 18, 2005 manifesting a month-long flat. (See Note below)

How many days should one per-Demark loss-close with the rate repeatedly swiveling as though to Demark's ill luck? The scholar has to be asked, how large should a trader's deposit be to survive Demark's experiments, being ranked "refined techniques" and "strictly scientific approaches", "cardinally different from others' ", less scientific ones, as I can guess.

The opus author will again fall soothing upon You: "One oughtn't to expect herein outlined technical methods and indicators to offer profits and not to entail losses. forex trading involves both: a profit opportunity and a loss risk. Preceding results are in no way guarantor of perspective success". Further on, with greater cynicism and hypocrisy: "Should You be seeking a trading panacea, put this book aside: it's in no way helpful to You". Well, what's the use of buying the book at such price?

Demark, by the way, gives the interpretation of his book's objective to be "fuelling readers with methodology, encouraging one to systematize various TA techniques". Great! I thought, it were a new discovery of forex regularities to be delivered to traders. But it looks, like the scholar has plunged himself into systematizing earlier 50%-correct discoveries without taking any pertinent responsibility.

Hence, no avail to purchase the book and to litter one's brain therewith, since forex rates enjoy 50/50 up-down travel chance, even under the probability theory.

Thus, not too much understandable, where Demark's scientific approach manifestation is to be searched, whereas the essence of things is incomprehensible once the reversal results come evident after an earth day only with no reference to his book.