Excellent point Jerry. I have to agree with you completely on this. I was in a pretty intense debate a few weeks back on how I thought technical analysis was useless in trading. Didnt quite want to start it here but oh well.... might as well.
My honest opinion: technical analysis is useless. There, I said it.
I dont think I have ever used TA to day trade the markets. By this I am reffering to price patterns and not TA tools such as pivots and S&R. I am reffering to common patterns that everyone knows such as triangles, flags, pennants, etc...
Im sure there are traders who trade these patterns successfully. However, I find it pretty useless in intraday trading the index futures.
Jerry, I want to ask you a question. Can you elaborate on your point of normal distribution? I would like to understand this concept a little better. Thank you