DD123454

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    • Thu Jan 10th 15:53 PM | Rating: 0 0
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      Why Technical Analysis is Nonsense
      Great, a 22 year old soon to be graduate of a prestigious college that daddy paid for is going to let us in on the secrets of high finance. And how did he find out and get his swelled head--he talked to some people and they told him. Two things stand out: one, he doesn't know anything really about TA (or money management or anything else, except maybe where to get the best croissant in Cambridge or Providence) and, two, he is unlikely to learn. All great fortunes have been made with TA, even those parading under the mask of FA. Why? Because no matter what your reason for establishing a position, only fools hold it beyond the point where it violates a price point (support, resistance, etc.) Those who use FA talking points to get them into a position might as well use the stars or the phases of the moon; those who ignore TA warnings for adjusting stops, setting targets, harvesting profits, will soon have blown up accounts and useless war stories. Even Soros who sometimes analyzed markets via FA in the end relied on a form of TA to increase, decrease or get out of the markets.
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