Dear Friends,
We all been doing technical analysis from long time and doing pretty well. I, as a learner am also trying to learn as much as i can so that 1 fine day i can be a successful trader using my technical analysis.
Now friends, a million rupee question is: "Does our market really follow Technicality". We have seen our market behaves very abnormally. It suddenly shoots up to Heaven and then equally falls to the Abis. I have a known person who works in NSE and he told be boldly: "Technical analysis is good for learning, but our Market runs on Rumors, human relations/internal jhools, tips, etc".
So my friends, as a beginner, i am really not able to make up my mind whether i shall really dig deeper into technical analysis, though its my passion to learn technical analysis. So friends based on ur experience trading with technical analysis, kindly suggest me will learning TA really help me in making my passion as my future living. :thumb:
We all been doing technical analysis from long time and doing pretty well. I, as a learner am also trying to learn as much as i can so that 1 fine day i can be a successful trader using my technical analysis.
Now friends, a million rupee question is: "Does our market really follow Technicality". We have seen our market behaves very abnormally. It suddenly shoots up to Heaven and then equally falls to the Abis. I have a known person who works in NSE and he told be boldly: "Technical analysis is good for learning, but our Market runs on Rumors, human relations/internal jhools, tips, etc".
So my friends, as a beginner, i am really not able to make up my mind whether i shall really dig deeper into technical analysis, though its my passion to learn technical analysis. So friends based on ur experience trading with technical analysis, kindly suggest me will learning TA really help me in making my passion as my future living. :thumb:
Once you become an old hand in trading you would know that TA does nil job in moving the markets. Charts simply reflect the past and present price action going through resistances and supports but it has no bearing on future price action no matter what people say, therefore backtesting is waste of time and TA based forecasts seem sureshot due to all that technical jargon but in reality with all the maybe-maybenots are hardly better than the horoscope in the newspaper...that is, it makes sense only to the believer. However one must be very good at TA if one is thinking to take up trading as a profession. Because a professional trader uses TA as a tool to figure out the market trend by following highs and lows or patterns or indicators etc and bets when he sees positive expectancy in his favour. TA helps immensely in taking out emotions out of trading which is very very important.