Being familiar with, or "expert" in, technical analysis but not having a specific and complete trading strategy in place to exploit that knowledge is a lot like being all dressed up with no place to go. No? If the man didn't trade, what was his value to the firm? Traders don't depend on someone else's interpretation of technical analysis; only fools do. Relying on someone else's generic analysis means that you have no method of your own.
Goodness. Is this old chesnut still around? Sheesh. On a trading site, nonetheless. TA is voodoo science! What a tired cliche. If you're gonna blindly trash TA at least try to couch your ignorance in some originality. Harold PS - Don't forget to renew your subscription to the Flat Earth Society. You wouldn't wanna be left behind.
Exactly. Great post. You can study charts and know every technical analysis strategy in the universe, but trading them is a different game. I always wondered why people with tout services/letters didnt just trade since their calls were so good, and not sell such "valuable"info.
Exactly. Great post. I think one of the first things one learns after studying TA for X amount of time and then actually starting to trade, is that TA is only part of the formula. It can be a rude awakening. H
I actually like the fact that people are moving away from TA. TA only works when others are NOT following TA. So let the other traders trade on funny mentals while I stick to my Technical analysis.