ok, so maybe this is a dumb question, BUT, if technical analysis assumes information is priced into a security already, and we are looking for "inefficiencies" to exploit, wouldnt it make sense to trade lesser known and more obscure securities even at the disadvantage of reduced liquidity? i was reading some article about these arbitrage hedge fund guys who traded exotic futures and this was basically their opinion: you will find the greatest gains where the market is most inefficient. Of course, you may also find a lot of irrational behavior, low liquidity, and other craziness, but i have seen certain forex brokers for example suggest trading the EUR/USD, which apparently is the MOST traded thing on the planet, leaving one to believe almost all of the inefficiencies have been squeezed out of it. Anyway, do any of you trade in strange places like the hungarian stock exchange, or other small/new exchanges, or are these just too finicky to get consistent gains out of with technical analysis? Thanks.