Simple defense of technical analysis

this made me think of the pit,that environment is the herd

 

id say these days the trading arcades are the new pits, its all order book watching, reading the flow, gauging how everyone is positioned around you "the herd" as you say

 

+1.

Similar observations.

Doesn't stop the sales guys making a phone call based on TA though

 

thats right Rationalize

 

TA analysis is based on http://en.wikipedia.org/wiki/Post_hoc_ergo_propter_hoc

 

true,another way to say that is, if a wolf comes from the south,the sheep will run to the north,ta is just the fence the sheep are running to

 

Thank you for that. Has confirmed what I've been believing for some years. Makes my confidence perk up knowing I'm trading against a bunch of bozzos. One need not be smart to win in this game, not required - to beat 'hundreds of traders'.

 

That would make sense, only the traders with desks have monitors

 

Anybody, what win rate would you expect from a successful technical analysis technique?

 

Overall 35% wins is probably average with the skilled making it work via money management. There's no edge in TA except in rare cases.