The_Barnacle wrote on Jun 17
th, 2018 at 1:21pm:
freediver wrote on Jun 17
th, 2018 at 9:50am:
Gordon do you make a net profit from the short term trades? And is it all technical (patterns in charts)? I went through the IG academy course, and the technical analysis stuff looked like reading tea leaves, and they seemed to push the short term trading stuff in a very misleading way.
Short term trading is pretty much just gambling. And just like gamblers, traders only tell you about their wins.
It's a bit like how everybody tells you that they got out of the market just before the GFC in 2008.
Shares can be a mugs game -
you get lulled into a false sense of security when they just
go up or down 1% here & there for years on end then -
one day there's a crash & they go down 20% in a day & another 30% the next day
& no one wants to buy your shares.
I've seen it before in 1987, 2000 with tech shares, 2008 GFC etc.
Then again I wished I would have bought BHP when they went down to $15 a few years ago
but at the time there seemed there was no bottom to the market for BHP.
Some were claiming they would hit $5.