Therein lies the entire problem dozens and dozens in fact an unlimited supply of chartists come into share threads and profess mastery of all of these sciences and put up charts and make pronouncements about what they prove and claim unbelievable trading success.
Every single one of these individuals is anonymous and everything they say is unsupported by any proof of their ability and intellect, their actual studies, their actual audited success applying charts and finally there is nothing known about their actual character and whether they have multiple convictions for fraud.
It is obvious when some chartists attempt to put together sentences beyond chart commentaries that they have a challenging educational profile.
If they cannot write or spell how have they read and understood the books and videos containing the theories upon which charting is claimed to be based to a sufficient depth to claim expertise sufficient to advise others?
This is before you take into account that it is extremely rare to find two chartists who are not long term acquaintances, who come to the same conclusions about what the same data actually means and how charts should be read.
I have said it before I believe everyone needs a plan and to carry out a plan everyone needs discipline.
Charting can allow the individual chartist to apply discipline to their own trades.
I say good luck to that type of chartist.
However the trader chartist who makes their charts public either deliberately or accidentally can influence the market by encouraging others after they have bought because they identify an up trend or sell if they have identified a down trend and in so doing enhance their trading outcomes by having those they influence pile on.
Brainchip has an infamous example of someone who does exactly that to this very day.
All this before the game was changed as you point out by robotic algorithmic trading being introduced that controls the market and short trading was legalised.
Where is the peer reviewed study that confirms the unproven science is still able to yield scientifically valid results under these new market conditions?
Where is the disclaimer by any chartist that frequents HC and so forth that the new market paradigms may affect the accuracy of their predictions?
My opinion only DYOR
Fact Finder
Well, I sense an understandable degree of cynicism and scepticism from I suspect, rightly or wrongly, someone who hasn't really delved into the intricacies of TA themselves?
It can be easy to dismiss that which we do not really understand wouldn't you agree.
Though, you describe yourself as a technophobe yet, are on face value, heavily invested in a highly technologically driven and complex product.
Like a lot of us, you may not fully understand the product intricacies yet made a wise decision based on your own assessment within your own research and understanding.
Your point re public share forum chartists has an element of validity in so much as they influence a certain number of so called followers or even those uninitiated who don't do their own research to cross check the pronouncements.
Though, I temper that with the fact that these public chartists are actually putting their calls out there for public scrutiny and anyone can go back through their historical posts to see how successful their calls were or were BS.
That way the reader can judge accordingly. If they choose to jump on blind faith, so be it and own it as an individual.
I agree though that there are those that no doubt deliberately attempt to influence others for their own gain or reasons, no less than the fundamental posters of the same ilk do too.
Whilst there are a number of TSE members who know or communicate personally with you, you are an anonymous poster to me as we have not met or communicated privately.
Does that mean that I don't respect and value your thoughts, analysis, opinions?
Not at all.
I take those as they should be, with a grain of salt to be be read, digested and then conclude in my own opinion the merit of them.
However, one could argue that with your following here and previously elsewhere that you too may have had certain influences, indirectly and not intentionally, but influences none the less.
A public Chartist is highly unlikely to move a stock the way you appear to be describing.
I would contend that a simple uttering by a certain car manufacturer had far more ramification to the SP than a public Chartist, wouldn't you agree?
As far chartists knowing each other, I must be one of the rare ones then.
Generally I don't engage much with others outside of the forum threads...the occasional DM but that has literally been 2 or 3 here on TSE.
As such, I find your statement that it's rare regarding 2 chartists coming to similar conclusions that don't know each other to be a bit generalist and not really based on fact imo.
Chartists can interpret differently depending on skill, study, type of style they follow etc and can only present their conclusions based on that, no different than someone giving a SP prediction in 3, 6 or 12 months yet, we've all seen and often participated in those threads.
Fun, wishful thinking, based on facts or just an interpretation of the known and unknown fundamentals, market, industry and probability of that SP outcome?
Sounds a bit like charting in some ways.
Simple first rule of charting imo is look left then look right.
That will help identify the basics of potential future support and resistance areas, trend lines and reactions by the mkt to certain events or expectations on the upcoming of those events.
That and an understanding that charts need to be looked at in different timeframes depending on what the person is trying to uncover or decipher is just as important, as patterns or behaviours can validate or fail within days or sometimes months.
Good chat thanks and will leave it there for readers to take what they will out of it re charts, fundamentals or a combination of both tools when investing.
Edit. I forgot to add there was a Short Term Trading forum on the other place I used to frequent for a few years and there was a competition where your success was absolutely measured.
It was run by the posters and a great place to learn from others as the respect and discussions were not dissimilar to here.
There were specific rules and a running leaderboard updated every Sunday evening before the new trading week.
You could tip a stock TA or FA or both and either long or short or both and you were only successful if your tip gained 25% within 4 weeks from memory so looking for breakout patterns or upcoming FA catalysts was paramount.
The table collated everyone on an ongoing basis with quite a bit of info / stats and your tip had to meet certain criteria as to why. There had to be some substance for all to read and judge the merit of your call.
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