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Technical trading made millionairs and billionairs during the pandemic era. You can't do that with astrology unless you find a sucker to sell your astrology ser
by thefounder 5y ago
Technical trading made millionairs and billionairs during the pandemic era. You can't do that with astrology unless you find a sucker to sell your astrology services.
It surely is "junk" as far as the value to the society is concerned but in finance/trading it's all about money and technical trading makes money.
It's not really like astrology because it has some logic. For example: if a stock was sold for $ 10 yesterday and now it jumped to $100, based today's trading volume and on historical data we can infer that a percentage of them will sell to make a profit. Of course it's not a sure thing so we will balance our trades(bets). We don't even have to win "this" bet/prophecy. We just need to win most of the bets or the highest bets.
Add to this the fact that if enough participants follow the same patterns they can move the market and make their bets a self fulfilling prophecy.
- samhw 5y ago> You can't do that with astrology unless you find a sucker to sell your astrology services. That's precisely what TA itself relies on. As the comment above mentions, the avowed rationale of TA is simply "other people use it too, so to that extent the patterns hold".
- ladberg 5y agoLotteries also made millionaires and billionaires during the pandemic era, I don’t think I’ve seen any TA that legitimately provides returns at a better than random rate.
- noja 5y ago> Technical trading made millionairs and billionairs during the pandemic era. Because the market went up. Can you prove it was because of TA?
- deleted 5y ago[deleted]