Monday, May 4, 2009

News Flash: Technical Analysis doesn't work

I don't believe in technical analysis in the same way I don't believe in reading the tea leaves. Market's are pretty efficient. Chartists who beat the market in a given period do so because of luck, not skill. Of course, they still call it skill.

This article summarizes nicely the recent performance of various technical trading strategies...

A nice quote - technical analysis is.. "the fastest way to lose money".