Chart, page-16546

No one can answer the question of "when do we see a turnaround?"
What a good chartist can tell you are levels where their analysis justifies an
entry and there is not a chartist on the planet who will be right anywhere near
100% of the time on that call. Risk management is more central to charting than
charting itself and what that means is that you use a stop-loss to cut your loss if
you are wrong and perhaps try again... The success of the vast majority of trading
systems will be heavily weighted on risk/reward ratios ie: making sure to make
more when one is right then one loses when (not if) he is wrong. This is to is
compensate for the "win-rate" which is usually much lower than your average
bystander would imagine. Most chartists on HC (and social media in general)
do not even mention where their stop loss is and IMHO that is a big problem.
Without the full package of info, people only tend to notice & remember their
good calls, without any way of knowing their actual performance. Moreover,
there is no shortage of "circumstantial charting gurus" that would not stand the
test of time. Sometimes their "runs" continue for a convincing amount of time.
Many not so confident "investors" look at "chartists" charts without fully
understanding the above. AKA confirmation bias... I'm not trying to dissuade
you from looking into charting if it interests you, but IMHO a deep understanding
of the limitations of charting is more important than the specific method of TA
pursued.