patrick.net

But Nostradamus was even more phenominal!

Humanity has a pathological need to explain and predict.

I heard of x number of traders went bankrupt following fundamental analysis, chart analysis, brokers' advice, friends' advice, ... In trading, the biggest success/failure influencer is YOU. Not the analysis or the tools.

Worst thing about analysis, it gives you a false sense of security.

Graybox says

When I was doing work experience in London I heard about a client who went bankrupt following Elliot Wave when the market turned in 2009.

95% percent of traders lose money and are eventually forced out of the market. The percentage of those using Elliott Wave Theory is probably less than 1%.

Your obsession with a theory about which you know almost nothing is interesting. I wonder why you care. Your comment reminds me of a line from Gaelic Storm's song Johnnie Tarr,

"Sure I wasn't there, but I swear I have an alibi
I heard it from a man who knows a fella who says it's true."

Update:

Great song, BTW...

https://www.youtube.com/watch?v=Pg_NtXFdu1s

Graybox says

You still don't get it.

I get it. I just don't care what you think anymore than you care what I think. Feel free to take the last word. My charts speak for themselves.