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Derry Brown
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I am a little confused. What is Price.X? Is it Price * X? Or Price X periods ago? Thanks for your help Derry
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Technical Analysis: Is it voodoo? Or does it work?
Derry Brown replied to Soultrader's topic in Market News & Analysis
Interesting post James, thanks. I like your observation that human behavior is the driver of the markets. You say that "human behavior will never change" and as a result "we are able to exploit recurring price patterns to profit". I would say that that human trading behavior can change over time but human emotional responses are the constant factor. Is the real question not whether TA works but whether the TA strategy one is using works and if it is relevant for the chosen asset class? The funny thing is that even with a good system most people in the market would not make money because of their tendency to change the trading rules and their inability to stick with a system after a string of loses. How people can argue that TA does not work when there is so much evidence that it does escapes me? It is not difficult to find people who have become very rich through TA, many of them are even on the Forbes Rich List. Check it out - Top 7 Technical Analysts of all time and their secrets Keep up the good work Cheers Derry