Superdezign, you sure know how to upset the apple cart.
I'm surprised to see so many people in here get emotional about what's suppose to be a healthy discussion about a very valid point.
I've started out as a technical trader like most of us do. A few months ago, after spending countless hours/months testing technical tools, moving averages, S/R levels, PA bars and patterns (I gave up indicators after my first 3 months of learning forex) that could be used as a profitable system, I came to the conclusion that they don't work. So I thought to myself, why doesn't this work? So many people use them, write books about the subject, teach others and get seriously upset when you dare to ask them why they think it works or doesn't work.
In my opinion, they don't work because the market movers, any entity/ individual with large enough orders to move the market, simply don't care. All those countless tools most traders keep them occupied with is all irrelevant.
So why do so many people use them? Because it is the path of least resistance, or so it seems. Most people start trading, because they read ad's like, earn $4000 in 2 hours. It is as easy as buy and sell. Using indicators or learning different PA bars is easy. There also happens to be a PA bar at every top and bottom. It is very easy to see something that is not there, especially after being brainwashed by every forex website/tutor you vissit.
Cool Runnings
I'm surprised to see so many people in here get emotional about what's suppose to be a healthy discussion about a very valid point.
I've started out as a technical trader like most of us do. A few months ago, after spending countless hours/months testing technical tools, moving averages, S/R levels, PA bars and patterns (I gave up indicators after my first 3 months of learning forex) that could be used as a profitable system, I came to the conclusion that they don't work. So I thought to myself, why doesn't this work? So many people use them, write books about the subject, teach others and get seriously upset when you dare to ask them why they think it works or doesn't work.
In my opinion, they don't work because the market movers, any entity/ individual with large enough orders to move the market, simply don't care. All those countless tools most traders keep them occupied with is all irrelevant.
So why do so many people use them? Because it is the path of least resistance, or so it seems. Most people start trading, because they read ad's like, earn $4000 in 2 hours. It is as easy as buy and sell. Using indicators or learning different PA bars is easy. There also happens to be a PA bar at every top and bottom. It is very easy to see something that is not there, especially after being brainwashed by every forex website/tutor you vissit.
Cool Runnings