"I'm interested in the range of beliefs among those with a higher level of formal education with regards to technical analysis."
The argument is near enough dead. It has been proven beyond doubt (numerous studies) that in the long-run no technical method will outperform the simple buy-and-hold alternative after transaction costs. TA has no useful predictive power. Let me give you the easiest possible TA problem. Assume a chart, say a 10 year chart of daily close prices. In the middle of that chart there is precisely *one* point missing. Guess that price. This is what I would do. I would join the two points on either side of the missing point with a straight line and guess that the missing price is the midpoint of that straight line. Your task : Prove to me that you can do better than my guess is a *statistical significant* way. I cant be fairere than that. I give the price history. I give you the price future. Just guess a single lousy point !
"I would be surprised if a PhD physicist or mathematician took numerology in any guise seriously at all, for example. You never know, though -- I'm always being surprised about these sorts of things."
Well, Isaac Newton dabbled in alchemy and also lost significant money in the South Sea bubbale.
"So if you have a higher degree in an analytical subject or in the physical sciences"
I have done undergraduate maths and physics, but I dont believe you need a lot of maths for investment / trading. Excel provides 100 times more maths than you'll ever need to use. If you can add a geometric series, thats about as complex maths as you will need.
"BTW, I agree with the proposition that successful trading does not require a high level of formal education. Commonsense, a level head, and emotional discipline are much more important."
I dont buy that.
Dont judge by the calible and views of the posters who contribute to this thread. They are basically a bunch of ignorant newbie know-it-alls. Education is important, but not quite as important as practice. You can never know too much, particularly in this field, which is a multi-disciplinary field. But it is not a *natural* science. It is predominantly a *social* science, with a bit of maths thrown in.
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