In 1970, an old trader showed me how commodities worked. He had noticed that I had done pretty well trading stocks, and he told me I ought to try trading commodities. At that point in my life, I still believed in technical analysis, so I thought my methods would work in the commodities markets as well. You say you don't believe in technical analysis. The good thing is, clearly, technical analysis works, but the bad thing is, clearly, it doesn't work very often.
Most technicians are one dimensional.
To them, a buy signal is a buy signal. Well, a buy signal in a bullish fundamental market is very different from a buy signal in a bearish fundamental market. Most technicians are one-dimensional. They are, well, technicians, and to them, a buy signal is a buy signal is a buy signal. Well, a buy signal in a bullish fundamental market is very different from a buy signal in a bearish fundamental market.