A friend of mine once told me :
"Technical Analysis" is just a smart way of loosing money... with lot of CONFIDENCE !
He is a broker on BSE, has a nice office in Mumbai and has a branch in Kolkata, manages many big HNI clients and doesn't believe in TA. TA is my bread and butter and i hated it when he called TA as TECH-nikaal ANALyst and FA as FUND-a-MENTAL ANALyst.
I hated his cynicism but never understood his order flow / accumulation / distribution / bulk deals analysis. I was not privy to such information in real time and admired him when his picks hit target with good frequency.
I guess we all choose our own poison and I have chosen TA as my path to financial freedom. But big question is.. does TA really work or is it like a carrot on a stick that dangles in front of a donkey so that he doesn't loose HOPE and can be suckered into chasing it forever and never destined to catch it...!
This is probably the reason why 95% people are consistently loosing money in the market. Acceptance of the randomness of price movement is the key to success in this market and TA makes one believe that there is method to control madness. Only thing we can control is the risk per trade and we are playing probabilities of a pattern that historically has proven to be profitable over a series of trades.
Success can be achieved only if we get rid of the need to be successful...!
This is a catch22 that i wish to discuss on this thread....!
"Technical Analysis" is just a smart way of loosing money... with lot of CONFIDENCE !
He is a broker on BSE, has a nice office in Mumbai and has a branch in Kolkata, manages many big HNI clients and doesn't believe in TA. TA is my bread and butter and i hated it when he called TA as TECH-nikaal ANALyst and FA as FUND-a-MENTAL ANALyst.
I hated his cynicism but never understood his order flow / accumulation / distribution / bulk deals analysis. I was not privy to such information in real time and admired him when his picks hit target with good frequency.
I guess we all choose our own poison and I have chosen TA as my path to financial freedom. But big question is.. does TA really work or is it like a carrot on a stick that dangles in front of a donkey so that he doesn't loose HOPE and can be suckered into chasing it forever and never destined to catch it...!
This is probably the reason why 95% people are consistently loosing money in the market. Acceptance of the randomness of price movement is the key to success in this market and TA makes one believe that there is method to control madness. Only thing we can control is the risk per trade and we are playing probabilities of a pattern that historically has proven to be profitable over a series of trades.
Success can be achieved only if we get rid of the need to be successful...!
This is a catch22 that i wish to discuss on this thread....!