“TA is Bogus”
People who employ this sort of thought have unfortunately committed a major logical flaw in their mental processing.
Most people who come to this abrasive, definitive, conclusive opinion about the validity of Technical Analysis (TA), have in fact – done zero research to substantiate this claim. Have you not noticed that people who make the most abrasive (perhaps offensive) claims are also the same people who do not – often – have a shred of evidence for their beliefs. Similarly, ever notice that the people who are consistently calm and unfazed have the most confident position because they HAVE done the research and come to a legitimate conclusion. Now, before I go further I want to say; there are some people who have completed empirical evidence refuting TA – I am not speaking to them – as they are are not the ones who make the abrasive comments, they actually fall on the side of being ‘consistently calm’.
Perhaps there is a bias that influences people’s investigating of the legitimacy of TA before they even get started. Personally, I think this is almost always the case.
So, please be careful with every single thing that ever enters your life whether it be Technical Analysis, A political campaign, a World View – research it with the most open mind you can possibly have as doing it any other way is (or can be) horrendously detrimental to your personal development as a human being (or as a trader).
Til’ next time. Let me know if I can help you in anyway – that’s what I am here for.