more or fewer technical traders than before

What's remarkable is how old the books are . . . Magee and Edwards is 80 years old, Darvas is another like 50 years old, Market Wizards is about 25 years old.

That should tell you something about the intelligence of their readers.
 
Insightful two sentences.

Never underestimate the power of a compelling story (regardless if it is correct or not) on the minds of people. Most are hard wired to buy into narratives that ring right to them without subjecting the story to rigorous analysis.

Fundamental analysis tells a better story, so that has to explain a lot of it. There's a basic resistance to technical analysis because it doesn't tell a story.
 
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well duh. there are thousands of EW traders even though EW was created as a tool to hide insider trading. (the many believers that subscribe is a bonus)

you cant beat stupid. :cool:
 
People can call technical trading whatever they'd like, but they can't argue with results. I'm sure some people or even most people fail at technical trading, but I know technical traders that have made millions in the span of 2-3 years and for me, my trading profits is nearly quadruple that which I make from my full-time job....and I'm strictly technical.
 
but I know technical traders that have made millions in the span of 2-3 years and for me, my trading profits is nearly quadruple that which I make from my full-time job....and I'm strictly technical.

People often confuse a bull market for brains. Not saying that's the case here, but anyone with a long bias the last 2-3 years has made a lot.
 
People often confuse a bull market for brains. Not saying that's the case here, but anyone with a long bias the last 2-3 years has made a lot.
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IBD related chart[see his book] for 200 years does also.

Not a prediction; since Bear,LEH, GM..... went bankrupt.:cool:
 
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