Show me the data. Can you show a long-term (20+ years) track record of ANYONE beating the market by picking stocks using technical analysis? I mean, out of the thousands of people who subscribe to your theory, even pure statistical chance would dictate that SOMEBODY would come out ahead. But no, there's no one. Voodoo TA chartism is the equivalent of most alternative medicine...sometimes the patient gets better (the stock goes up) but it has nothing to do with the treatment.
"The only thing we know for certain about technical analysis is that it's possible to make a living publishing a newsletter on the subject."
Martin S. Fridson, Investment Illusions
"Technical analysts are the witch doctors of our business. By deciphering stock price movement patterns and volume changes, these Merlins believe they can forecast the future."
William Gross, Everything You've Heard About Investing is Wrong!
The one principal that applies to nearly all these so-called "technical approaches" is that one should buy because a stock or the market has gone up and one should sell because it has declined. This is the exact opposite of sound business sense everywhere else, and it is most unlikely that it can lead to lasting success in Wall Street. In our own stock-market experience and observation, extending over 50 years, we have not known a single person who has consistently or lastingly made money by thus "following the market." We do not hesitate to declare that this approach is as fallacious as it is popular.
Benjamin Graham, The Intelligent Investor
"Technical anlysis is doomed to fail by the statistical fact that stock prices are nearly random; the market's patterns from the past provide no clue about its future. Not suprisingly, studies conducted by academicians at universities like MIT, Chicago, and Stanford dating as far back as the 1960s have found that the technical theories do not beat the market, especially after deducting transaction fees. It is amazing that technical analysis still exists on Wall Street. One cynical view is that technicians generate higher commissions for brokers because they recommend frequent movement in and out of the market."
William A. Sherden, The Fortune Sellers: The Big Business of Selling and Buying Predictions
"The central proposition of charting is absolutely false, and investors who follow its precepts will accomplish nothing but increasing substantially the brokerage charges they pay. There has been a remarkable uniformity in the conclusions of studies done on all forms of technical analysis. Not one has consistently outperformed the placebo of a buy-and-hold strategy."
-Princeton Professor Burton Malkiel (author of A Random Walk Down Wall Street)
Your recommendation of rapidly buying and selling securities based on unproven interpretation of charts to medical professionals (average investors at best, sorry guys we are what we are) in this forum is akin to said professionals using an unproven anesthetic to perform heart-lung transplants, dangerous at best, financially fatal at worst.
This quote says it all: "I love this $hit. please im me if you want to chat or have a stock your interested in we can go through it together and I can show what I know. I am not an expert ...and have been doing well the LAST YEAR."
Quoting from your blog: "After getting to a point where I am truly starting to understand I have been up over a 100% over the last two years."
and from previous posts: "i have three passions, 1. hockey 2. technical analysis of the market(s) and a very distant 3. is medicine."
If you're really up over 100% the last two years, maybe you should bag medicine and do technical analysis. Let's see, $10,000 at 50% per year.....$33 million in 20 years. Wow, the compound interest boggles my mind. Your paltry 200K from anesthesia will just be a distraction, especially if it is a distant third in your list of priorities.
P.S. Hockey kicks Ass. Sorry to be so personal, but when I see people buying into your kooky investment ideas and losing their hard earned dough because they spend all their time trying to help patients instead of learning how the financial markets work, I've got to at least provide another perspective on TA.