Is technical analysis a genuinely potent methodology for traders to envision the future estimate of their benefit and earn money?
No!
But let’s sprinkle a bit of detail onto the topic, so readers can understand the clockwork mechanism behind this “method”.
Firstly, have you seen the traders, who produce technical analyses, making their pay by themselves, or are they working for somebody?
That is right. In most cases, these people are working for a more influential and rich person behind everyone’s backs. For what reason don’t they bring home the incredible amounts of money from their amazing capacity to perceive and extrapolate the patterns so easily? Approaching it seriously, it has a simple answer: every irregular path always seems to have correlations. The wiring of our brain ensures that anybody can discover patterns in any kind of repetitive information. However, the steady investigation of examples by a massive number of financial specialists ensures, that almost every example of the pattern will never repeat itself again since the correlation it emerged from is the symbol of various factors, that can never be a standpoint for the nowadays trading.
Choices, that are dependent on a specialized examination — rather than strong investigation of the basics — is the indication of an unpracticed or unskilled financial specialist, and only a few masses, who refer to specialized graphs know this. Technical analysis agents are never interested in truth or lives of others; they are only interested in their own salary and are always pointing to the most transient outcomes.
Another question is: if Technical Analysis is working, why is it impossible to program a bot to do it automatically?
The bot will be a lot quicker than any human, won’t make that many mistakes, won’t be expected to go down the road due to feelings, will work day’n’nite, and furthermore, they could operate multiple platforms in a meantime. What’s more, it will be anything but difficult to create! The guidelines for Technical Analysis are extremely straightforward.
Or is it that easy?.. No.
To shorten up: it is impossible to program a bot to work by the algorithm of TA, and quite the contrary to that — it is impossible for humans to work and earn funds utilizing that method is virtually impossible.
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