Since the GFC the ASX has under-performed the combined $USD and the DJIA by so much its scandalous - can only have happened because Aussie super funds etc have put Australians' money into the US instead of investing here in Australia.
Retail shareholders now compete against algorithmic trading which has everything from Gann trading to Elliott Wave trading embedded in it, brokerage systems designed to delay trade activations so BOTs can gazump you and so-called 'experts' who are more often than not just plain wrong.
Then there's cryptocurrencies created overnight out of thin air which sometime vaporise before your very eyes - sheeeeesh!
