News for hackers. Stuff that matters.

A comment on Almost 80% of Private Day Traders Lose Money. Parent comment

Re:Almost 80% of Private Day Traders Lose Money by pepy on Monday August 22, 2016 @11:57AM (#12337213)
I am a technical analyst. Patterns do occur but ultimately prices are driven by fundamental events. Interest rate decisions, market data releases and similar. When that occurs no pattern can survive on the smaller timeframe. Technical analysis works but it is not written in stone.
[ Parent | on HN ]
Re:Almost 80% of Private Day Traders Lose Money by shostack on Monday August 22, 2016 @04:11PM (#12339061)
What are your thoughts on A Random Walk Down Wallstreet? He pretty thoroughly picks apart the efficacy of technical analysis vs buying some indexes with supporting data.
[ Parent | on HN ]
Re:Almost 80% of Private Day Traders Lose Money by Rainymood on Monday August 22, 2016 @04:13PM (#12339068)
> Technical analysis works but it is not written in stone.

Works 60% of the time 100% of the time.

[ Parent | on HN ]
Re:Almost 80% of Private Day Traders Lose Money by pepy on Monday August 22, 2016 @06:33PM (#12339930)
Haha, kinda. My daily audit shows that I am on average 63% right. It comes up to cutting your loses early and riding out the profits.
[ Parent | on HN ]