are markets truly random?

If prices, time and cycles are clearly discernable how can one state that markets are random? Wouldn't this also negate the whole concept of TA? Certainly, the markets can do anything at any time...but patterns are also clearly present.
 
I think the RAND() function is a good approximator of a H/T coin flip though - would you agree?


Quote from Indrionas:

A few notes on your generator:
1) you use excel's RAND() function, which generates values of uniform distribution.

2) therefore you get daily ranges from 0 to 1 which are uniformly distributed, i.e. chance of any range is equal to any other range between 0 and 1.

3) in reality, distribution of market's daily ranges are similiar to normal distribution with fat-tails
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Quote from mrbluelegs:

Ask George Soros then ask a Phd. mathematician making 30k a year.
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"Baker... decided the dollar had to come down.... Baker and the key finance ministers of France, West Germany, Japan, and Britain -- the so called Group of Five-- huddled in New York.. at the Plaza hotel. Soros learned about the meeting ... He worked through the night, buying millions of yen.
Soros called the Plaza accord coup, 'the killing of a lifetime.'""

SOROS The Unauthorized Biography, R. Slater

Somehow, I don't think Soros used TA pattern recognition to make his billions. The key separator between the PHD pauper and the rich speculator is called quality of information. Assuming that you, like the millions of masses are not privileged to such information, the resultant information plotted on a chart, will for all intents and purposes, appear as random.
 
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