hi
I just can’t find the logic’s for the TA 3 basics rules that:
1. The Market Discounts Everything
2. Price Moves in Trends
3. History Tends To Repeat Itself
what is the logic for the base of the first rule the price chart discounts everything? why? they are so many things that are not in the price chart
the second one is somehow obvious in the chart
the third one is the most difficult for me if some traders and investment banks do this and that in the past what it should do with the fact that some other traders or investment banks want to do in future all the economic factors all changing constantly
the other thing that is involving my mind is the fact of randomness in the TA one of friend of mine sent me this picture
and ask me what my analysis is after the conversation he told me that it is the iteration of a flip coin that if it come tails +2 and if it comes head -1 look at the trend lines on it look at the s/r’s on it they work properly and if you traded this chart you probably could profit or not any way my point is the price chart is like this example what we are analyzing is important with TA no order book is evolving to see the real supply and demand just an s/r line not a backing up theory of fundamental expect e trend just connecting to dot’s and make a trend isn’t it all random
I couldn’t find any account in myfxbood that have more than 4 year of consistency with TA am I missing something
should I devote my time to something more productive like fundamentals or quant?
does TA really work?
I will very happy to hear from you
thank you