Yo. Flake here.
Mr. The Flake Chicken Brains to you.
I have no intention of arguing with you, I want to let you know right up front, OK?
You're wrong. Sorry to have to tell you.
I'm not going to bother trying to defend "Technical Analysis" to you, because you have made up your mind, and that's you, and that's your right, and I certainly won't dispute your right to have an opinion or a viewpoint or whatever you want to call it.
A good technical analyst (stress "good") can predict the future on a regular basis. The percentage of "correct" can be shown to be much greater than "random".
We would have to get into a discussion about what is a "good" technical analyst to explore this further, and I'm not going to do that.
Your post gives a strong implication that someone who "thinks" Technical Analysis "works" is mentally flawed in some way; that he or she is in some way insane, or hallucinating, or is at least neurotic.
As I said, that is your right.
The fact remains that you are, how should I put this...uh...wrong.
Your assumption is based on an incorrect evaluation of faulty data.
The test of anything is: "Does it work?" This a a VERY simple test.
If, for example, I can find ONE SINGLE PERSON on this planet that can PROVE EMPIRICALLY that his application of his "brand" of Technical Analysis works, that it predicts price movement to a degree that can be mathematically correlated to percentages greater than random data is correlated; can show it on paper, for anyone to see, can do it consistently, over and over, every day...and can show this "brand" of Technical Analysis to someone who has never seen it, and does not know who wrote it or created it, but can simply read it, apply it, and obtain the exact same higher than average results using the data or method or theory or whatever you choose to call it, [Technical Analysis, the study of price action on a chart to predict future price action on that same chart], then I win, and you lose.
That person is me, so I win. You lose. Sorry.
Not only that, if you are randomly investing in random companies at random times, and you randomly happen to randomly invest in a company that I am trading with my brand of technical analysis, there is a MUCH better than 50% chance that I will take your money away from you. I don't need to prove anything to you, I'll just take your money.
I actually enjoy taking money from people who think I am insane. It gives me a certain...how can I say this...metaphysical 'inner glow'.
And I don't mean that in a bad way.
Bigfoot and Elvis say "Hi!".
See ya on Level Two, dude. |
