Disliked{quote}This is the same logical fallacy as Mr Rossouw commits in his video. Let me try to explain it this way: #1. Chimpanzees have similar characteristics to humans. (DNA is 96% similar) #2. Chmpanzees can't speak English. #3. Therefore humans can't speak English. Obviously this is incorrect. Now to your implied argument: #1. Randomly generated charts have similar characteristics (trends, respect...Ignored
Your premise:
#1. Randomly generated charts have similar characteristics (trends, respect S/R, etc) to actual price charts.
#2. Randomly generated charts can't be traded profitably.
#3. Therefore price charts can't be traded profitably.
The moral to the story: just because something exhibits similar characteristics doesn't necessarily make it exactly the same.
Price charts are created by an entirely different process (human psychology and determination) to RNG charts.
Rebuttal:
#1. Randomly generated charts have similar characteristics (trends, respect S/R, etc) to actual price charts.
==> that is correct
#2. Randomly generated charts can't be traded profitably.
==> incorrect statement. At a given period, It is still possible to show a profit even with random data (throwing a dice) or market data (the euro)
#3. Therefore price charts can't be traded profitably.
==> Incorrect conclusion You are assuming that forex charts are not random (argument by false analogy)
The moral to the story: just because something exhibits similar characteristics doesn't necessarily make it exactly the same.
==> It's not logical to use "similar" and "same" in this statement. Something is similar to something else, or something is the same as something else. Something cannot be both similar and same to something else! Given that "similar" implies some level of difference.
Price charts are created by an entirely different process (human psychology and determination) to RNG charts.
==> Incorrect. Two different processes can create the same characteristics (for exemple music created by a computer and music created by an instrument)
All right, your turn (: