Not useless.....You just need to understand the limitations of the information presented.
The market is designed to seperate you from your money. There are many ways that it is done. Providing information that seems to tell you something but really doesn't is one of the ways that is done.
Look at it this way. How many people out there are willing to tell you how to make money in the market using charts, their proprietary system, there picks etc as long as you give them money.
Those people don't make money by using their system... they make money off of selling you their system.
Charts help people that know how to use them and who understand thier limitations.
If any system that really worked becomes wide spread, it will quit working becuase the market will adjust to it.
That is why companies were willing to spend big bucks on computer systems to do the "rapid trade" thing by having computers at the exchanges looking at the market data a frction of a second before the rest of the market..... That gave them an edge and they could make money off of that edge. The SEC has just told them to stop doing that.
If there was a system the consistantly worked, whoever had it would now own the market. There are very sharp people who have worked hard to learn their own stengths and weaknesses and learned how to watch the market. Those people make money at trading.
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