well not exactly.. I really dont follow charts aside from the very basics and I do quite fine. Eventually the market 'gets it right' and either we are overshooting or I was wrong and failed to see what the rest of the participants saw.
I respect the chart followers.. I really do. Jerry seems to have incredible success with it and watching him in action is fascinating. I just prefer to stick with what works for me, and lean more towards FA rather then the TA.. of course if the two dont jive as Zeev always says- I look at the TA..
Im stuck in an office all day and have limited time with regards to the markets, so most of what I do is position trades.. This affords me a bit more flexability as well and may explain my success without relying heavy on the TA.
but for what its worth- I 100% dont agree that chart reading is the only way to play the markets sucessfully. In fact, I believe that with proper allocation and total control over your demons and a strict set of rules regarding loses/money management? you can practically flip a coin to decide what to play and its almost impossible to come up a loser in the long run.
Either that or I have been extremely lucky the last few..