Is trading from charts just one big scam? PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Are trading indicators a scam? Do charts and indicators work? Is technical analysis for stocks scientifically sound? I learned to approach trading with an open mind.
Let’s assume it is a scam – all those chart patterns and indicators – everyone trying to sell you systems and indicators – isn’t it just one big scam designed to get you to part with your money and eventually you will lose money over time? My thoughts on this is that a lot of the stuff out there is not that good.
And then you have the other end of the spectrum where you have repeatable patterns that can be profitable if you repeat them consistently and that’s what we are trying to do when trading with charts. Now do I think that’s a scam? No – I think it is a system that actually works and even institutions use charts. But I do understand why people say charts are a scam because there is a lot of nonsense out there. It becomes a scam when people start adding layers of indicators and selling it as some kind of magic trading system. And it is easy for the ‘scammy’ part to creep.
Charts are only telling us what price is doing. Use indicators as a tool to help guide the logic kind of things – I want to see an explosion in price and a pullback – how do I see that on an indicator a stochastic indicator might help or an ADX might give me a guide on an explosion of price…etc
The Pitfalls of Technical Analysis and is it Scientifically Sound? ?
Is Trading From Charts & Technical Analysis A Big Scam? Do Indicators Work? ?
Is Technical Analysis Just BullShit / Nonsense? ?