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RE: Steemit New Motto: Earn Lots Of Money Launching Personal Attacks So We All Can Laugh At Others!!!!! It Is A Sure Winner
I think the concern is that this hiajin guy is scamming. I can't say either way, because I think all technical analysis is a scam, so I don't know whether his is more of a scam because it's just so ridiculous. But look at it this way, if he really is scamming by printing totally bogus analysis, what would you expect others to do about it?
So you disagree with the merits of technical analysis? So state that. Then we can have a valid debate about it. Yet you simply call it a scam.
To be sure I looked it up....
a dishonst scheme; a fraud. swindle
Of course millions of traders all over the world use TA as do ALL computer algorithms. But you are entitled to your opinion, which it is just that.
Show proof of that....where is the proof of totally bogus analysis? Because you and people who view it like you say so. There are tons who dont think it.
I would not expect the other members on this community to engage in censorship and that is exactly what is going on here. Without proof, the only think you have to hang your hat on is that you think it TA is a scam...
That is nothing more than censorship....you dont like what he says or the fact that rachowhatever his name is upvoting him. If you can prove that @haejin is rancho and runs a con, then fine crucify him. But without that, sorry you are on a witchhunt to silence someone with a viewpoint you do not agree with.
Of course, this only because a problem when he started to get compensated. What happens to the next person who a whale happens to like and want to upvote regularly at full strength.
Show me one person who acted upon a shred of evidence that linked him to what he is accused of, and your opinion on TA is not evidence...then you have a case.
Short of that, sorry but it is nothing more than a witchhunt intent on censoring someone you disagree with.
To be clear, I'm not part of the group that is downvoting/mocking haejin. I'm just speculating why they might be doing it. If the guy really is a scammer, then I find it hard to feel sorry for a scammer being mocked.
Regarding TA more broadly, it's all a "scam" because it relies on a self-fulfilling prophecy to work. The only reason support lines (to name probably the most common analysis) work is because of the conditioning of the market participants to accept it as a valid method. It's a case of the tail wagging the dog, not the other way around. Now with more 'out there' analysis like haejin seems to be doing, the tail is going to be smaller, so it will be harder to wag the dog with it. But he does seem to have a lot of followers. He might very well be affecting the market with his proclamations. I don't know. Someone would have to look into the stats and numbers involved. One possibility is that his bizarre metrics are in fact a higher order abstraction of lower level conditioned behaviours that the more simpler metrics focus on. So in essence he might actually be successfully predicting how much and when the tail wags the dog. In which case, he's onto a good thing and if it makes his followers money, then who are we (collective) to say he can't get that much reward out of the reward pool? Unless he's using multiple accounts and bots etc to push his posts up into the trending pages.
Thank you @revo and I apologize to you for grouping you in there. That was presumptuous of me.
And I appreciate the explanation of your conclusion on TA. At least you have thought it out.
You call it a self fulfilling prophecy yet it could be simply a metric that monitors human behavior. Sure it is forward looking which is not exact, but then again nothing is. When a company grows at 5% a year for a decade and their next year's projections are for 5% growth, is that a self-fullfilling prophecy? Is that a scam to?
And let us go one step further, you mention support lines. Even if it is self-fulfilling, which in this era of computerized trading could be more likely, isnt the fact that it is forecasting, with reasonable accuracy, where the line is make it not a scam. I mean does not using TA mean that the price action is going to change? If millions of traders and their computers around the world believe a stock price is going to stop and reverse at $X, doesnt the fact that it close to said point fairly regularly add legitimacy to it.
And finally, using your logic, then all forecasting, projecting, charting, and goal setting in business or life is a scam because whenever a person or a group of people set quantify behavior either graphically or numerically, there is a degree of self-fulfilling prophecy?