Technical Analysis is the simply the best party trick there ever is! Period! It is guaranteed to draw attention and awe. If guaranteed to make its proponent a future seeing Magi.
Technical analysis is one of the best ways to inflict revenge on your enemies. Imagine this, you hate your boss a lot. So, go ahead and show him / her marvels of technical analysis, the precision and ease of making infinite amounts of money in shortest time. If he / she follow your most benevolent advice, they are most likely to lose quite a bit of money before they become aware of it – you have your revenge! And in good instances, they are very profitable, they are so happy with you for sharing Aladdin’s lamp that they may give you a promotion or something. This is the sweetest revenge.
The reason it is‘revenge’ is technical analysis, for all its simplicity of presentation hides far more than presented. Most often, people just don’t bother to look deep enough for the flaws in the foundation or how the changes in environment will impact its usage. The party trick is so easy to replicate, everybody wants to do it and they know they can do it. Unfortunately, most analysis at its primary level is just that – a trick.
[A very important contradiction here that we take up later and I will very briefly explain here. Any technical analysis method that a 5-year old cannot replicate is too difficult, and probably is not sustainable over long run. This is because only the simplest system can survive the fiercest of variables and changes.]
Essentially, what it means is, the party trick is all that is enough! And your promotions are guaranteed. However, the real cause of losing money is not because technical analysis is per se useless, but it is just a tool to be used with couple more other systems to make it very useful.
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