Is Technical Analysis a joke??

Didn’t read OP but ...

“So, to me predicting the future based on chart patterns of the past is like predicting the next spin of the roulette wheel based on the last X number of spins. Which does not work.

I am starting to fully believe in doing the opposite of investor sentiment. I watch the Put/call ratio, AAII survey, etc... just do the opposite.”

First statement is wrong.
Second statement is stupid.
 
Sekiyo said:
Didn’t read OP but ...

“So, to me predicting the future based on chart patterns of the past is like predicting the next spin of the roulette wheel based on the last X number of spins. Which does not work.

I am starting to fully believe in doing the opposite of investor sentiment. I watch the Put/call ratio, AAII survey, etc... just do the opposite.”

First statement is wrong.
Second statement is stupid.
More...
Agree with you, but you can play against the market and benefit from it.
 
1957may10 said:
I am always listening these guys as I’m always learning something new. It never late to learn.
As I can state it is good to spent your time to learn. You should filter what you will take, but this will come with your own experience.
More...

Let me cite one example. Timothy Sykes, is he a guru? I don't think so. He is a good trader but, nowhere in hell is he a guru. He was even on Wall Street Warriors cable series. Now, he is a day trader and turned his barmitvah monies into a $1,000,000 is the claim. Here is the thing. He also, used to run a hedge fund with a $10,000,000 capital, most of monies of one of his friends. He experienced huge losses and ended up closing the hedge fund. You know why that happened? He had no risk management and took unnecessary risks. Now, he is teaching others to day trade. Why doesn't he just trade his monies? Hell, if he is that good, he can easily make $10,000,000 trading. Why does he need a couple thousand from each of his students?
 
Sekiyo said:
Didn’t read OP but ...

“So, to me predicting the future based on chart patterns of the past is like predicting the next spin of the roulette wheel based on the last X number of spins. Which does not work.

I am starting to fully believe in doing the opposite of investor sentiment. I watch the Put/call ratio, AAII survey, etc... just do the opposite.”

First statement is wrong.
Second statement is stupid.
More...
You're merely wasting your time. It's a fool's errand to try to persuade those who think they're obviously better than you. These fools will never know how to trade.
 
smallfil said:
Let me cite one example. Timothy Sykes, is he a guru? I don't think so. He is a good trader but, nowhere in hell is he a guru. He was even on Wall Street Warriors cable series. Now, he is a day trader and turned his barmitvah monies into a $1,000,000 is the claim. Here is the thing. He also, used to run a hedge fund with a $10,000,000 capital, most of monies of one of his friends. He experienced huge losses and ended up closing the hedge fund. You know why that happened? He had no risk management and took unnecessary risks. Now, he is teaching others to day trade. Why doesn't he just trade his monies? Hell, if he is that good, he can easily make $10,000,000 trading. Why does he need a couple thousand from each of his students?
More...
Well, you mention one guy. He may be already restricted from sale. Yes he may trade his money and maybe he is. Beside that if he teaches and people are listening and satisfied, maybe he is a good teacher. What is wrong with it. So you are not willing to study anything anymore.
I’m learning after my long experience and find it very helpful. Btw I did to tell I would treat him as guru. I never treat myself as exceptional, but I’m trying to improve all the years and like learn something new.
 
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1957may10 said:
Well, you mention one guy. He may be already restricted from sale. Yes he may trade his money and maybe he is. Beside that if he teaches and people are listening and satisfied, maybe he is a good teacher. What is wrong with it. So you are not willing to study anything anymore.
I’m learning after my long experience and find it very helpful. Btw I did to tell I would treat him as guru. I never treat myself as exceptional, but I’m trying to improve all the years and like learn something new.
More...


You cannot stop learning. At the same time, a lot of the information Timothy Sykes is sharing is widely available on the internet. If people want to be mentored by him and spend their monies, hey, that is their right. After all, it is their monies. Was just saying that those elevated to guru status are not gurus. The real gurus are so busy trading their own monies and getting filthy rich in the process. Last thing they would do is mentor anyone. It is just not worth their time.
 
schizo said:
You're merely wasting your time. It's a fool's errand to try to persuade those who think they're obviously better than you. These fools will never know how to trade.
More...

Agree.
The problem is never about themselves.
It’s always X or Y that is faulty.
Some stuff can’t be bought.

Not trying to persuade anyone...
It’s just food for thought.

What’s the situation ? context ?
What’s wrong ? How does it fail ?

Definitely OP isn’t factual nor logical.
It’s a tough road to find some light.

upload_2020-4-23_23-9-16.jpeg
 
smallfil said:
You cannot stop learning. At the same time, a lot of the information Timothy Sykes is sharing is widely available on the internet. If people want to be mentored by him and spend their monies, hey, that is their right. After all, it is their monies. Was just saying that those elevated to guru status are not gurus. The real gurus are so busy trading their own monies and getting filthy rich in the process. Last thing they would do is mentor anyone. It is just not worth their time.
More...
I kind agree, btw I’m getting it online of course. About guru, I got some and they are really good. Not to many. Btw somebody may be an excellent teacher but ave trader. I met such people too. You seams, had bad experience with those guys. Look, we need more people to be attracted by market especially now. They are teachings folks, why not.
 
smallfil said:
Let me cite one example. Timothy Sykes, is he a guru? I don't think so. He is a good trader but, nowhere in hell is he a guru. He was even on Wall Street Warriors cable series. Now, he is a day trader and turned his barmitvah monies into a $1,000,000 is the claim. Here is the thing. He also, used to run a hedge fund with a $10,000,000 capital, most of monies of one of his friends. He experienced huge losses and ended up closing the hedge fund. You know why that happened? He had no risk management and took unnecessary risks. Now, he is teaching others to day trade. Why doesn't he just trade his monies? Hell, if he is that good, he can easily make $10,000,000 trading. Why does he need a couple thousand from each of his students?
More...

According to an article recently posted on this forum about the people who played in WSW Sykes currently sells around $20M/year from his education business. Not bad if you ask me.

Edit:

Here is the link. Not sure if this is a credible source but sharing it anyway.

https://pennystockwhizzkid.com/wall-street-warriors-where-are-they-now/amp/#Timothy_Sykes
 
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