Technical Analysis is a great way to dream of the day when we can pluck money from the market at will and live life kingsize in a a fool's paradise.
Its like the donkey running after the carrot dangling on a stick in front of him. As long as he can see the carrot, success is always just a few steps away,he never looses hope and no matter how hard he tries, success is never his.
Occasional victory is a good morale booster and it Keeps the hope/dream/expectation alive. Most of the time, its thanks to dumb luck that the trader mistakes as his genius methodology (aka holy grail). It takes about 3 years for the trader to realise that there is something drastically wrong with the picture. No matter what TA we use, end result is always the same. A series of mixed results and a few big loosers that wipe out all the gain. End of the month result is always negative.
How to change this picture. is TA really that worthless/useful as it seems. Is TA just a smart way to loose money with more confidence ?
Its like the donkey running after the carrot dangling on a stick in front of him. As long as he can see the carrot, success is always just a few steps away,he never looses hope and no matter how hard he tries, success is never his.
Occasional victory is a good morale booster and it Keeps the hope/dream/expectation alive. Most of the time, its thanks to dumb luck that the trader mistakes as his genius methodology (aka holy grail). It takes about 3 years for the trader to realise that there is something drastically wrong with the picture. No matter what TA we use, end result is always the same. A series of mixed results and a few big loosers that wipe out all the gain. End of the month result is always negative.
How to change this picture. is TA really that worthless/useful as it seems. Is TA just a smart way to loose money with more confidence ?