Why Do Most Retail Traders Favour Technical Analysis ?

Visaria said:
Which reminds me that in his book, Alchemy of Finance, George Soros said he couldn't figure out where the deutschemark was going, so he decided to let the market tell him and started looking for patterns (tech analysis!) on the chart.
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Yup livermore was a technical guy also and waited for the market to confirm his opinion.
 
Fundamentals are important but they are not very good for precise timing and trade managent.

If you put your foot on the accelerator of a car, you know your going faster, but you still need to look at the instrument panel in front to see how fast your going. Do you see what I'm saying?
 
If your telling me it's better to have no detailed information on price than to have it, you don't know what your talking about
 
I think retailer traders are low investors they do not plan long term so they try to act upon technical analysis , see low time frame , charts to get small targets. Technical analysis helps them to do all this easily . With fundamental analysis they need to wait for proper news that give them good profits.
 
i960 said:
It should be noted that most race drivers don't do this. They go by feel :)
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That's right, but guy in his car with 40mph limit, tougher to know exactly how fast you going and can get tickets, don't see a cop chasing someone at Indy, LOL, so Indicators can be helpful.

Too often traders are too lazy to study Price Action enough and indicators seem to be easier to study than charts.
 
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