Without planning or discipline, they throw money at the market. The occasional big score reinforces this easy money attitude but sets them up for ultimate failure. Without defensive rules, insiders easily feed off these losers and send them off to other hobbies. Technical Analysis teaches traders to execute positions based on numbers, time and volume. This discipline forces traders to distance themselves from reckless gambling behavior.
Markets echo similar patterns over and over again.
Forget the news, remember the chart. You're not smart enough to know how news will affect price. The chart already knows the news is coming. Buy the first pullback from a new high. Sell the first pullback from a new low.