What's the best book on technical analysis?

technical analysis is complete bullshit. If you think it actually works in any way, you should probably kill yourself and take your autism genes out of the gene pool. Do you really think you can predict a stock price by looking at patterns in the charts? If you could, everyone would do it.

Found the guy who believes in EMH.

>Do you really think you can predict a stock price by looking at patterns in the charts? If you could, everyone would do it.

that just basically is a terrible fucking argument

Calm down.
You're spitting.

refute me faggots

look up mechanical analysis
(yes, this is an actual thing)

>refute me
Refute what?
I just said you need to take a pill.
Take a deep breath, or something.

I don't believe in looking for chart patterns but I do think that markets aren't as efficient as some think.
I believe there are some indicators that can show where trends are headed. Now how exact can it be, that I don't know.

>electrocardiogram is complete bullshit. If you think it actually shows a heart attack in any way, you should probably kill yourself and take your autism genes out of the gene pool. Do you really think you can know a heart attack by looking at patterns in the charts? If you could, everyone would do it.

not an argument
In the end it's all an illusion. There are computers who follow these indicators and still go negative because the stock market is random. You can't really predict when people are going to buy their stocks.
an electrocardiogram shows what is currently happening. It doesn't predict heart attacks retard.

Yeah, I'm honestly not sure where I stand on the issue. As I've been dabbling around with algo trading and know guys who've made way too much money doing it.

Either: it works or they're the ones who guessed randomly and lucked out. Hard to really say.

What robots did they use?

Not sure. Mix of machine learning, TA, and some other voodoo I think.
The good news is if "everyone" and the computers are using these patterns then there is indeed an arbitrary pattern being used. Thus momentum and trends can be predicted.

Charting for dummies

Not even joking

Goldman Sachs uses TA and makes millions on a daily basis. You can't get a job in the financial derivatives business unless you know TA.

>Technical analysis

Technical analysis is to stocks what yoga is to the medical industry

EMH works to an extent. Not to the extent that textbooks describe i.e. you can't do shit about beating the market - its all luck. HOWEVER, technical analysis is basically just like reading the tea leaves, its bullshit.

You're better off learning how to analyse financial statements/data and learning about w/e industry your potential buys are in to try and predict an event (favourable or unfavourable) rather than TA.

>technical analysis
Breakout the kneepads, you're going to need them once your money is gone.

TA is trying predict the future from past whic is stupid in long term, but if you watch minute charts its helpfull to find trends and enter quickly. You csn say anything about TA but there are a lot of people making millions with it.

If they can do it, it is possible that it works.

But Yoga works

And doctors use a tongue depressor, knowing how to use one does not make you a doctor. Investment firms would use the complete set of financial data from past profits to future expansion strategies, experts in that industry, Bloomberg machines and have access to the hearsay Wall Street more importantly in Federal Reserve policy, et cetera. Some bloke looking up charts on Google isn't going to cut it.

Bloomberg machines use the same software that was used in the 80s m8
Technical analysis is pure, solid state bullshit unless you don't extract some set of rigorous rules you can test back and forward.

Tom DeMark uses TA but in a quantitative framework, the guy has been working for Soros and Tudor Jones.