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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: Cheeky Kid who wrote (51350)9/6/2000 10:26:11 PM
From: Doppler  Read Replies (1) of 63513
 
Hi Cheeky- I'll try to give you an example of how TA is just another method of forecasting. In weather there is only one way to predict the future. Look at the past and try to extrapolate into the future. Despite the jokes, weather forecasting is usually pretty accurate (at least from some meteorologists) and very accurate from a few. :-)
It's an art and a science. Part of it is recognizing patterns and having a good memory for them. It's no different with TA. By looking at the past you have a better idea of what might be in store for the future. Doesn't mean it will always be right, it's just about managing risk and improving your risk/reward ratio.

There is also an element of self-fulfilling prophesy involved. Because all the brokerages, and many individuals, now use some form of TA in their decision making process it is even more applicable.
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