To think the highly skilled chartists here are some sort of combined pied piper, leading us minions entranced to our eventual drownings. Good grief
A true chartist happily admits when he (to assume an identity) is wrong, understanding the simple fact that even the best combination of indicators rarely has a long term success ratio over 60%.
He will understanding too, through many 100's of back testing, that predictions will only ever be a convoluted function of probability, statistics, and psychology.
Yep we all know FA overrides TA as a long term outcome, always and without doubt. But why not try to understand and take advantage of the minutiae of how a stock might finally arrive at its fair valuation?
I admit to having a limited understanding of how shorter term patterns tend to play out, as my expensive soiree into indicies trading 15 odd years ago rarely fails to remind. In equal measure though, all those failings seem to have emboldened me to keep peeping through the looking glass at threads, just like this one, at technical methods that more than likely do hold water.
There are many many things I don't understand... chemistry, black holes, women, combustion engines, malaria. That doesn't mean they don't exist, or are wrong. Nor does it mean i should stop trying to understand them.
Except women perhaps...life is just too short.
GXY Price at posting:
$3.87 Sentiment: None Disclosure: Held
