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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: ajtj99 who wrote (42961)11/11/2021 9:17:18 PM
From: Sun Tzu  Read Replies (1) of 97557
 
I think everyone is all of the different styles, just to varying degree. I've never known anyone who would be absolutely agnostic to FA, TA, etc. Even the most ardent fundamentalists want to see the chart and see how a stock has historically traded, even if that is a chart of the price to sales ratio. And even those who claim to be purely technicians care whether or not they are trading a commodity, a high tech stock, or something else. Which means at some level they care about the fundamentals. And within each class, everyone is again a variety of styles. You've heard me often say that I don't believe in most chart patterns. But there are some patterns that I care about and value. At the very least, everyone of us cares if trend is smooth, hyperbolic, erratic, etc, and that is a type of pattern in itself.

So the differences are a matter of degrees rather than absolutes.

I know of some very great traders and hedge funds who do their research and get onboard with something. And the moment it misbehaves they dump it or even reverse positions. An often quoted statement by them is that you can be wrong 2 out of 3 times and still make money if you cut your losses early and let your profits run.

That makes it sound as if the choice of the stock or commodity doesn't matter at all. On the face of it they could just grab a bunch of random stocks and dump what shows losses until they find the few that goes up. But of course that is not true, or they would not have take the time to research the area and time their entry. Those statements only come into play only after the other work is done. It is analogous to the famous saying that plans are nothing, planning is everything.
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