Ugh. I vividly remember when my stepfather tried to get me involved. He was retired, and had a nice nest egg built up from a small business. He was a smart man.
But he was paying thousands of dollars per year for a monthly newsletter that contained <some brand of analysis>. And he patiently showed me how he started with a row in the table that met <his criteria> then followed to the column that met <other criteria> and that was the choice he made in the market.
And I'm thinking, whatever information he's getting in that newsletter is at least a month old by the time he gets it. And he's not doing anything a program couldn't do, with the information in digital form. And he should know that -- he was a computer programmer earlier in life. As far as I could see, there was zero chance he was beating anyone or anything with that technique, and starting in a several thousand dollar hole.
The market is a mind game. If enough market participants care about it, then it defacto becomes a signal to be aware of.
In fact if you're a trader (not a long term investor) that manages to make money in the markets you will by definition use some form of technical analysis.
Ugh. I vividly remember when my stepfather tried to get me involved. He was retired, and had a nice nest egg built up from a small business. He was a smart man.
But he was paying thousands of dollars per year for a monthly newsletter that contained <some brand of analysis>. And he patiently showed me how he started with a row in the table that met <his criteria> then followed to the column that met <other criteria> and that was the choice he made in the market.
And I'm thinking, whatever information he's getting in that newsletter is at least a month old by the time he gets it. And he's not doing anything a program couldn't do, with the information in digital form. And he should know that -- he was a computer programmer earlier in life. As far as I could see, there was zero chance he was beating anyone or anything with that technique, and starting in a several thousand dollar hole.
Maybe I was wrong, but I don't think so.
sounds like he had a hobby.
An expensive one.
I'd spend that money on piano/drawing lessons or something. Or take a few trips around the world.
Better return on investment.
1 reply →
The market is a mind game. If enough market participants care about it, then it defacto becomes a signal to be aware of.
In fact if you're a trader (not a long term investor) that manages to make money in the markets you will by definition use some form of technical analysis.
I think some make money trading just that or am I wrong? I’m not talking about youtubers
Some people win the lottery.
You should still be skeptical if they try and sell you on their patented lottery number picking strategy.