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The key to profits is to be able

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hankmanhub   Sunday, 08/29/21 09:36:39 PM
Re: Sojourner55 post# 398791
Post # of 421983 
Quote:
The key to profits is to be able to predict the future albeit short term - that's not impossible otherwise I'll have to join you on a ramen diet:))



You have yourself have made the claim that TA can be useful using charts in the hours, days, weeks months and even years. In general, charts are self similar at any scale and appear as random walks, and without labels on the axes one normally has no idea whether the chart is for a period of decades or hours. So what exactly do you mean when you say that they are only useful for the "short term"? So "short term" is really a relative term depending on which charts you are talking about. On a chart that spans says several decades, 3 or 4 years may be short term. whereas, on a day chart (in hours) 6 or 7 hours may be considered long term while perhaps only an hour or two might be considered "short term." Dito if you are looking say at a monthly chart (in days) the definition of short term will not be the same. By picking the right chart units you could at will expand or contract the time frame under consideration and make any desired period into a "short term" period. This does not sit very well with you statement quoted above, or at least guts its meaning.

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