Mparker, totally agree with your first lot.
But Indicators, I've done boat loads of statistical testing on ALL indicators the only 1's worth a poke are SMA's ( in all forms ) and Bollinger Bands ( nice to see the range, but make you into a tops and bottoms trader which = DEATH )
Most are just ridiculous, if you draw enough lines on the chart after the fact you'll see some relevance but thats it, live you've got ZERO chance, worst for this being Fib Levels who dreams this stuff up.
Although your right, for what they do work is purely the self forfilling prophecy ofcourse.
There is no way to Predict what the market is going to do, but you can see what it's currently doing and jump on it, attempting to do anything more complicated than that = DEATH plain and simple.
But Indicators, I've done boat loads of statistical testing on ALL indicators the only 1's worth a poke are SMA's ( in all forms ) and Bollinger Bands ( nice to see the range, but make you into a tops and bottoms trader which = DEATH )
Most are just ridiculous, if you draw enough lines on the chart after the fact you'll see some relevance but thats it, live you've got ZERO chance, worst for this being Fib Levels who dreams this stuff up.
Although your right, for what they do work is purely the self forfilling prophecy ofcourse.
There is no way to Predict what the market is going to do, but you can see what it's currently doing and jump on it, attempting to do anything more complicated than that = DEATH plain and simple.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!