The is a very old Hollywood made movie called 'Magic Town'. I saw it when I was quite young but the underlying idea stuck with me and that is how easily are peoples views on a subject affected by what they believe others think they know and how they will tailor answers to meet others expectations.
I have absolutely no problem with people charting but as it includes their view of how the sentiment of others will play out over time they corrupt their own research by disclosing to those very people what they believe their sentiment will be thus potentially changing their sentiment.
To maintain any scientific validity a chartist should keep their charts secret so as to not affect the market. They can then use their charts to discipline their own actions confident in the knowledge that their charts are accurate and giving them a trading advantage. Disclosing charts destroys that advantage.
In my case the moment a chart is disclosed publicly it has already lost any value it might have had. I recommend watching 'Magic Town'.
Traders telling everyone they should be trading like them has to be a joke because if everyone traded then there would be no long term investors and the system would collapse because there would be no support. Traders require investors to survive.
A trader who is a chartist and publishes their charts could be acting to their own advantage particularly if they have spent time cultivating a level of credibility with investors and other traders as they could have an expectation that publishing their charts could influence the behaviour of others to their advantage. Not that I believe anyone would do that.
My opinion only DYOR FF
AKIDA BALLISTA
BRN Price at posting:
$1.78 Sentiment: Hold Disclosure: Held
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