Investment Technical Analysis

[Whorty]

Started a new thread so it doesn't get lost in the Stock Market Crash thread.

Whilst skeptical I have had my interest piqued so I'm interest to read up on this and have a play. Looks like I'll need a charting tool so are there any free ones out there that are worth using? Also, any good free resources and/or a good 'bible' book on Amazon (real book not Kindle) worth spending £15 or so on?

[_V_]

I would advise against it. Technical Analysis has no scientific or statistical basis. It is basically the same as alchemy, reading tea leaves or following your horoscope.

Ask yourself this, why does someone charge £20K for a course in something that gives positive results. If it is to make money, then why don't they apply their knowledge. If it is to educate, why charge £20K?

It's all nonsense and you are wasting your time.

[DealorNoDeal]

_V_ is spot on.

If it was possible to consistently make good money with TA, loads of people would be getting rich. Even many prop firms and hedge funds, with professional traders using TA, struggle to outperform the market.

The markets may not be 100% efficient, and there are some known persistent anomalies, but trying to beat the market is largely futile.

[scooterscot]

I did not spend that amount on one course! For goodness sake, you guys. £20k OMG they scream, yet people will drop 10 times that on a history degree from the university of nowhere.

TA is valuable, you can use it in combination with fundamentals if you like. Often I find strong fundamentals later after a TA setup.

tradingview.com - you can set up a free account.

[scooterscot]

Just looking over my course notes from the early days:


1) Create a strong investment strategy to remove all emotion

2) Learn significantly more about charts – become comfortable and then confident



• Patience will win this game


• Don’t chase the shiny objects


• When ever there is a ton of hype, its time to leave

[syrio]

Also, any good free resources and/or a good 'bible' book on Amazon (real book not Kindle) worth spending £15 or so on?

There are only good books on TA in the same sense that there are good books on astrology. Don't waste your time.

[scooterscot]

There are only good books on TA in the same sense that there are good books on astrology. Don't waste your time.

Enjoying looking through my notes now have come on so far....

• When everyone is buying – we are selling
• When everyone is selling – we are buying
• Emotion is a money killer – I will no longer trade with emotion
• Don’t follow anyone’s opinions – follow your rules
• Don’t try to time the tops and bottoms


I wonder if the folks telling you 'TA' is bogus have experience to refer to as to how they lost by it?

[DealorNoDeal]

Sellers of TA courses and books

See if you can get an honest answer to these two questions:

A) how much money have you amassed using your methods?
B) how much money have you amassed selling courses, books etc?

If (A) > (B), they're probably telling you porkies.

In many cases (like with the guy I know), (A) will be SFA.

[jamesbrown]

The only people that make money on technical analysis are the cretins selling their technical analysis "investment advice" to other, even less numerate, cretins. Technical analysis and cryptocurrencies are the refuge of low-IQ conspiracy theorists and common or garden morons.

[BR14]

The only people that make money on technical analysis are the cretins selling their technical analysis "investment advice" to other, even less numerate, cretins. Technical analysis and cryptocurrencies are the refuge of low-IQ conspiracy theorists and common or garden morons.

Whorty'll fit right in then.