Good luck in getting a transparent and ethical response from Trader10!
He gave his self-interested game away on 14 Jun when at 10.03 he wrote:
"Remember folks, our support is still at 8.4 cents......
Either than that.... I like it very much...."
Rather than come back on and post that he was wrong about the 8.4c support as soon as that had become apparent (the ethical option), he had sold out within the hour and did not post info on his complete change of sentiment until late in the afternoon when the SP was 7.5c.
And as Trader himself said, the charts are only correct 50-60% of the time.
Even more importantly, some chartists will 'distort' what charts are really saying to further their own purposes.
You, know, as the saying goes, "there are lies, damn lies and statistics". Charts, of course, are just a form of statistics and, in the hands of the unscrupulous, can easily be used to spread 'lies and damn lies' in order to steal from newbies.
Another point, based on my reading of these threads, there is no need to reify charts or chartists - despite the tendency for some to do that.
Charts are a useful tool - nothing more, nothing less. They don't forecast the future. They are totally about the past. However, in clever hands they can be used to predict the future due to the pattern repetition of human behaviour (re fear, greed, patience/impatience, good knowledge/poor knowledge, rationality/irrationality etc). Chart-based forecasts are, in effect, predictions based on past patterns repeating - rather like crop yield forecasts, hospitalisation forecasts and racing form guides etc - useful but not necessarily the final answer.
As in all realms of life, there is also the good, the bad and the ugly. There are Mother Teresa type chartists and Ivan Milat type chartists and everything in between.
My view is that Elpha is closer to the ethical/helpful/communitarian end of the spectrum while some of the more recent visitors are closer to the self seeking/manipulative end.
And Graham, I agree with you re HD. I regard him as being at the ethical end, despite my posts of a couple of weeks ago where I pointed out the difficulty (using a few HD posts as examples) of not being conflicted in your interpretations of day to day changes when you hold both trading and long term parcels.
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