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Have been learning how to do TA in stock trading and came across this free course. Found it useful.
Free Advance Technical Analysis Course (for Share Trading) @ Investoo (Free Membership Required)
Skyisblue on 30/07/2021 - 09:33
Last edited 30/07/2021 - 13:28 by 2 other users
Last edited 30/07/2021 - 13:28 by 2 other users
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So after that big speech, do you underperform or beat the market?
I've noticed the people pretending that any of this works don't want to talk about their actual performance lol. My guess is that you are all underperforming by a long shot.
They wouldn't know how to properly benchmark themselves anyway. Hell, most would struggle to even calculate a weighted return.
The "It'S LiKe AsTRoLoGy mEeTs ReAdInG TeA LeAVEs" crowd have heard of it but didn't bother to look into/study it enough to realize that it has its place in most peoples toolkits.
Ok I'll bite.
When performing any sort objective analysis of something, you don't necessarily need to know anything about the thing, you only need to look at the results to see what the effect of the ThingX is. ie if ThingX was good at making money, then everyone who uses ThingX would be rich. Since index funds perform on average better than ThingX, we can confidently conclude that ThingX is yet another waste of time.The stock market is filled with this type of thing. If you do this secret thing you'll get rich! History has proven that none of them have ever worked ever. Feel free to post any example that proves me wrong. I'm genuinely interested.
Lets dissect what you just said a bit.
Is it your position that nobody can do better than index funds regardless if they use TA, FA or a mix of both?
Because if you think it's possible to beat the market with whichever strategy, then your reasoning can just as easily be applied to that specific strategy. For example, if people can beat the market with FA, why doesn't everyone just do FA? The fact they don't proves FA does nothing! Yet most people would be offended with a statement like that about FA unlike with TA.
The reality is very few people (i think it's something like less than 5%) end up doing well trading over the long term. And those people don't tend to shout on the rooftops about it. If it was easy, everyone would be doing it, that is true. But it is not easy. Being successful with FA, TA or a mix is not easy. There are so many ways to skin a cat and look at things, no single course is going to give you the magic formula that will work forever. Anyone going into this course expecting to be profitable after completing it is kidding themselves. I know nothing about this particular course but if it's not garbage it may pique someones interest and point them in the right direction, which years later with a lot of work and some luck may turn into something good. But entirely dismissing the whole field of TA is pretty foolish, IMHO.
Yet most people would be offended with a statement like that about FA unlike with TA.
The universe does not care whether you are offended or not, it behaves the way it does regardless.
And the simple fact of the matter is that whatever 'method' you think has value, it quite clearly doesn't on average based on actual real world results.But entirely dismissing the whole field of TA is pretty foolish, IMHO.
Astrologers say the exact same thing. Unless you have results that say otherwise, your Magic_Thing_X has the same value as reading tea leaves.
And the simple fact of the matter is that whatever 'method' you think has value, it quite clearly doesn't on average based on actual real world results.
Ok so you think FA is a complete waste of time too. Everyone should stick to indexes and there's no point trading regardless of your methodology. You should let guys like Buffet know this asap, so they can stop being silly and wasting their time. Based on averages nobody is good/exceptional at anything in the world. I already said about 5% of traders actually make it in the long term and here you are harping on about averages.
You also seemed to have managed to miss my other points so I hold no hope in this ending up being a meaningful conversation.
So you think FA is a complete waste of time too then? Everyone should stick ti indexes and there's no point trading regardless of your methodology.
If indexes are demonstrated to do better then yes do whatever is better. It's like the truth is in front of you but you don't want to accept it.
And guys like Buffet are just born lucky?
Some people win lotteries, do you think there is a secret method to winning lotteries? Have you researched every book on how to win the lottery before dismissing them?
Buffet is one person. What is the percentage of all analysts who beat the index? The data tells us the answer, this is nothing personal.You also seemed to have managed to miss my other points
I read your post, it all seems to say the same thing, Magic_Thing_X could work sometimes if you hold you head at the right angle and utter the magic phrase. This is not scientific, it's witchcraft.
We don't have to guess at this. If they work, and you understand them, then you should be rich. Are you rich?
@1st-Amendment: You know rather than waste my time replying to your questions, I'll admit it.. You've convinced me. For someone with your reasoning and analytical skills, you should definitely stick to investing in indexes only. Trying to steer you in any other direction would just not be responsible at this point. Have a good one!
This bargain does not break through my support level for an upvote
Just remember….if this stuff works, the author doesn’t need to write it into a book or course to share around….
How to be a millionaire? Start of with a billion a invest in the share market :)
I use a paid product to monitor my investments called Tradesmith.
The product isn't cheap but it's made my investing much simpler for myself and gives me the necessary tools to make financial decisions.
There are other products out there as well so depending so I can't comment on similar products since they too are paid.
TA like FA and SA doesn't work 100% of the time, but they're all important tools used by billion-dollar funds, market analytics firms, banks, institutional investors, retail investors, and traders.
Getting rekt trading is part of the game. Traders that say that it has never happened to them have lost more than they've told their family and friends. Traders that lose 67% of the time either don't have a plan or have one but aren't following it.
Yes, I've been rekt while using TA, FA, and sometimes SA. However, not using any tools would've exposed me to even greater losses. People that want to make a living out of trading should at the very minimum take the time to learn TA + FA, TA + SA, or FA + SA to a competent level. It will help them to stay on the right side of the 33% of traders that make money.
btw Before you ask, I'm up 300% after a 600% rally. This could change as soon as BTC breaks 40k and restest it as support.
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The value of technical analysis seems to be one of those topics that gives the people who know very little the impression that they know a lot.
The "It'S LiKe AsTRoLoGy mEeTs ReAdInG TeA LeAVEs" crowd have heard of it but didn't bother to look into/study it enough to realize that it has its place in most peoples toolkits.
It's not about being right 100% of the time, no method or combination of methods will give you that. But if you can consistently be right 55% of the time, that's more than enough to do well. And certainly if you stick with it long enough TA has the potential to help you get there.
To dismiss TA entirely is to dismiss the notion that psychology plays a part in trading. Which is a pretty ridiculous belief to have and anyone who has done short/medium term trading should know this.
In somewhat related news, I can't believe i am agreeing with jv.