Will most people reach same conclusions by charts reading ? Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ? In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).
Many reasons, but to name a few: - trading different timeframes - looking at different indicators - different interpretations of patterns - contextual understanding - different experience levels with tape reading, interpreting price action, and pattern recognition - emotional control & state - hedging vs speculation - errors Two traders can take opposing trades and both be right.
Take an oversold indication, for instance. What it means?, Will market reboud to overbought, or just become more oversold? I just came to one conclussion: Charts are worthless
On some trading days, most will reach the same conclusion. On other trading days, most will not reach the same conclusion. Mark
=================== Jacks; It depends, many times no & yes. a] Mainly on time frame; & some will not study 1 year chart b] Experienced trader/new trader c] Counter trend or trend e] Even when looking on same data,[1 year chart] which many times would not even happen; you could , easily get a bull or bear trend on silver & gold/related. s] And sometimes the data is not similiar at all; sand states real estate frequently differs from TN. ..................
I think the answer is no since people use different indicators and their interpretation are different. Some people like bottom fishing while others wait for confirmation before jump in.
IMHO No - and why - because.... Most use charts and lose A few use charts and win But maybe the chart isn't the difference - I wonder