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Technical analysis of securities is for people who scoff at both. I've often referred to it as "numerology for smart people."
by pmiller2 5y ago
Technical analysis of securities is for people who scoff at both. I've often referred to it as "numerology for smart people."
- vmception 5y agoooooh, them's fighting words! I agree though and simply say its not my trading strategy.
- pmiller2 5y agoYeah, I half expected a couple downvotes on that one, lol. :P But, seriously, IMO, to the extent that technical analysis "works," it's probably just exploiting short term momentum. Momentum strategies have been shown to generate alpha. Other than that, you'd probably be just as well off reading tea leaves and goat entrails to guide your trading strategy.
- spiralx 5y agoAs someone who implemented over 70 different indicators and close to 20 tools for drawing Gann fans, Fibonacci retracements and so on, I've heard a similar thing about technical analysis and astrology and very much concur :)