Could educating yourself be bad?

Discussion in 'Technical Analysis' started by Smart Money, Mar 13, 2009.

  1. I once read an article that talked about the concept that MBA schools create conformity of thought since they tend to teach the same kinds of stuff the same way.

    I was wondering how this applies to charting/technical analysis. I can see elements that may or may affect price action without picking up a book. So my question is...if I pick up a book, and really study it...stuff like head and shoulders formations, cup with a handle, etc., will that truly help me? I mean, if I look at a chart and reach the same conclusions about a stock or a market as other traders who read the same book, is that good or bad?

    Can this stuff be self-taught? And would that be an advantage, or a disadvantage?

    Note that I'm keenly aware that the majority of people haunting this forum are interested in the academic end of things. This is like going to a seminar for horoscopes and asking if horoscope charting is needed.

  2. Self taught is the ONLY way.
  3. +1

  4. I tend to agree, *but* keep in mind that different people can have vastly different learning styles. Some people learn most effectively in a lecture setting. I was always a mediocre student at best; the things I learned most deeply I taught myself.

    I taught myself to windsurf from a book and hours of falling in the water repeatedly. My mother in law paid for lessons, but they were almost completely useless to me. I'm a hands-on learner and I hate being told blah, blah, blah.

    I see trading as being very similar.
  5. rwk


    I agree about the different learning styles for different people. I think the key thing is to think. You won't get it by sitting passively and being spoon-fed facts and figures. The big secret of trading is that there is no big secret, except maybe the simple fact that it can be done. If you believe that it can be done, if you commit to doing it, if you keep an open mind, and if you think for yourself, then you have all the pieces you need.
  6. The most successful strategy that I ever came up with has never been published anywhere to my knowledge.
  7. The difference here is between theory and practice. Yes people have different learning styles-- one has to use one's strengths to their advantage. For example-- I know how to dunk a basketball, but i will never be able to do it. So I think your example is incomplete.

    Not everyone will be able to understand TA, just as not everyone will be able to dunk a basketball. The key is finding what works for YOU.