"I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them." - George Soros
It's the exact same thing with price charts. why these folks find that difficult to believe is that they themselves have been duped. surf
Soros is under pressure to "support the very markets he trades in" due to his size--- only a moron would tell the truth to the press in soro's position and soros is far from a moron. surf
No one has a monopoly on the truth. However, if one trades and has been successfully trading for some time, one comes to the same conclusion as Soros.
This explains price behavior in futures and stocks far better than any trading teacher has done yet: In probability theory, a stochastic (/stoʊˈkæstɪk/) process, or often random process, is a collection of random variables, representing the evolution of some system of random values over time. This is the probabilistic counterpart to a deterministic process (or deterministic system). Instead of describing a process which can only evolve in one way (as in the case, for example, of solutions of an ordinary differential equation), in a stochastic or random process there is some indeterminacy: even if the initial condition (or starting point) is known, there are several (often infinitely many) directions in which the process may evolve.
And other traders are not? Or are they different because they play tennis with you, or you swim in their pool?
No, most of us, myself included are micro parasites riding on the back of the greats like the dark lord pallidrome--- no comparision.