I used to have this attitude towards TA back when I didn't know anything about it, so I'll let it slide. I learned how it works, discovered that prices pivot around certain price points far too often to be a coincidence and it's improved my trading dramatically.
If you're buying a holding for years that's fine. $XOM
is a long term hold for fundamentals reasons. But traders use TA for a reason. You're just flying blind without it.
Guess who bought $SPY
calls at the bottom of the market twice in the past month because of these 'lines which mean nothing'? 🙋♂️
That stupid little green line on $SPY
has made me over $5k so far. And that stupid little candle pattern circled (hammers) means the market is likely to continue up tomorrow, so I'm still holding my $SPY
calls which have already tripled in value from yesterday.
It doesn't work 100% of the time. But it's sure as shit better than guessing.