Why does anyone take technical analysis seriously?

[speedo]

TA works because it shows human behavior which does not change. Those of us who use it to make a living trading (not selling stuff) have little incentive to defend it.....believe what you will.

 

[marketsurfer]

It's called MARKETING. Everyone from Goldman Sachs to Tim Sykes uses TA as marketing. No one really uses it to trade succesfully.


Wake up!!

 

[qxr1011]

If TA "worked," there wouldn't be dozens of threads on ET debating it. Its users' results would speak for themselves.

"works"

Sicilian defense works, and Alekhine defence, and so does Nimzowitsch Defence ... everything works in chess as in trading...but not for everyone...

"debate"?

show me what is not debated in this life?

"results would speak for themselves"

they speak into pockets of capable people...

 

[marketsurfer]

"works"

Sicilian defense works, and Alekhine defence, and so does Nimzowitsch Defence ... everything works in chess as in trading...but not for everyone...

"debate"?

show me what is not debated in this life?

"results would speak for themselves"

they speak into pockets of capable people...

Where are these people?? I have yet to see or hear about anyone being succesful with TA except those who market it. Real names and real evidence.

Are u a TA marketer?

 

[nursebee]

noscite hostem

 

[qxr1011]

Where are these people?? I have yet to see or hear about anyone being succesful with TA except those who market it.

have u seen platypus? no? yes? i did not see it in my whole life.. but it there..got my point?

Are u a TA marketer?

i do not like when people switching discussion from discussing the topic to discussing their opponent, i put people like that in ignore

 

[NoVoodooHere]

Every day I'll see a story on a legitimate website like Marketwatch with an eye-catching headline saying "Why we're bearish on ABC stock." I'll open the article and it will have a bunch of confusing charts and graphs and state something like "We are clearly entering a double cross heads and shoulders evil death pattern, proving this stock is going to tank soon."

Why do some people actually base their investing decisions on technical analysis? From my own long experience it doesn't mater THAT much.

I propose that it is so because a HUGE industry depends upon a pool of gullible saps paying commissions and worst paying for software and services and newsletters and instructions.

Scamers and con artists, charlatans, snake oil salesmen, many present here (and infuriated by this post), depend on one little trait of human nature... When people want something bad enough, they will believe anything, as long as the desired result is promised.

 

[kut2k2]

Every day I'll see a story on a legitimate website like Marketwatch with an eye-catching headline saying "Why we're bearish on ABC stock." I'll open the article and it will have a bunch of confusing charts and graphs and state something like "We are clearly entering a double cross heads and shoulders evil death pattern, proving this stock is going to tank soon."

Why do some people actually base their investing decisions on technical analysis? From my own long experience it doesn't mater THAT much.

Chemistry became a science when certain alchemists decided to throw away the parts of alchemy that didn't make sense and to include only new knowledge that made sense.

Technical analysis is not a science because it never throws anything away. It's become a form of information hoarding. With TA, you get The Good, The Bad AND The Ugly.

The Good TA is called EBTA: evidence-based technical analysis. The name was coined by David Aronson who wrote a book with the same title. In his book, Aronson showed how to determine which TA is EBTA but he was unable (or unwilling) to establish the actual existence of any EBTA. So the controversy of whether any Good TA exists continues, because the Good TA is all (or almost all) proprietary. Those familiar with Good TA for the most part aren't talking about it. They certainly aren't passing it along to every wannabe trader on the internet who comes begging for something that works. Why would they?

 

[NoDoji]

I don't take it seriously at all; I have a lot of fun with it

 

[marketsurfer]

I propose that it is so because a HUGE industry depends upon a pool of gullible saps paying commissions and worst paying for software and services and newsletters and instructions.

Scamers and con artists, charlatans, snake oil salesmen, many present here (and infuriated by this post), depend on one little trait of human nature... When people want something bad enough, they will believe anything, as long as the desired result is promised.

I was at starbucks this morning. There was a conference table full of excited MLM'rs ready to set the world on fire selling some coffee product--- it was sad their zeal since it was obviously a scam--- just like these poor souls who cling to TA despite overwhelmingly negative evidence. Some even believe the claims of the anonymous posters-- who are afraid to even reveal their real names---