Will most people reach same conclusions by charts reading ?

[jacksmith]

Will most people reach same conclusions by charts reading ?

Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ?

In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).

 

[Lucrum]

NO!

Several reasons, but perception, lack of objectivity and preconceived notions play a major role.

 

[denali]

Quote from jacksmith:

In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).

Many reasons, but to name a few:

- trading different timeframes
- looking at different indicators
- different interpretations of patterns
- contextual understanding
- different experience levels with tape reading, interpreting price action, and pattern recognition
- emotional control & state
- hedging vs speculation
- errors

Two traders can take opposing trades and both be right.

 

[crgarcia]

Quote from jacksmith:

Will most people reach same conclusions by charts reading ?

Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ?

In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).

Take an oversold indication, for instance.

What it means?, Will market reboud to overbought, or just become more oversold?

I just came to one conclussion:
Charts are worthless

 

[NihabaAshi]

Quote from jacksmith:

Will most people reach same conclusions by charts reading ?

Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ?

In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).

On some trading days, most will reach the same conclusion.

On other trading days, most will not reach the same conclusion.

Mark

 

[murray t turtle]

Quote from jacksmith:

Will most people reach same conclusions by charts reading ?

Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ?

In other words, what can cause people to reach different conclusions given we all are looking at the same data (price movement / volume, etc).

===================
Jacks;
It depends, many times no & yes.

a] Mainly on time frame; & some will not study 1 year chart

b] Experienced trader/new trader

c] Counter trend or trend

e] Even when looking on same data,[1 year chart] which many times would not even happen; you could , easily get a bull or bear trend on silver & gold/related.

s] And sometimes the data is not similiar at all;
sand states real estate frequently differs from TN. ..................

 

[Random.Capital]

Quote from jacksmith:

Will most people reach same conclusions by charts reading?

No.

The better question is why anyone would think the answer could be "yes".

 

[Lamont_C]

Quote from jacksmith:

Will most people reach same conclusions by charts reading ?

Since most people are looking at the same indicators, do you think that most people will reach the same conclusions (buy/sell decisions) by analyzing charts ?

What makes you think that most people are looking at indicators at all?

 

[dojitrader]

I think the answer is no since people use different indicators and their interpretation are different. Some people like bottom fishing while others wait for confirmation before jump in.

 

[Redneck]

IMHO

No - and why - because....

Most use charts and lose

A few use charts and win


But maybe the chart isn't the difference - I wonder