The woodoo of technical analysis

I am always surprised how people rely on technical analysis for their investments. However, there are as many explanations of the same chart as many people look at it. No one sees the same on the same chart. You obviously unable tell the future from the past. Maybe you could spot so-called patterns, but they are just speculation.

Many of you argue that it is enough if a pattern or an indicator helps you with a high percentage of success otherwise there is your stop-loss. Although it is a good argument, but most people (including myself) are unable to close a position in deep red. It could be a good thing, if you do not use leverage. You just have to hodl. Nowadays everyone uses leverage, so the classic buy-and-hold strategy is quite useless and everybody tries to forecast something from tarot-cards or so-called indicators. It is the same for me.

I studied the technical analysis and I still do not get it how on Earth could anybody believe in indicators and oscillators and Fibonacci-levels. They are just social constructions, created for the poor, to try themselves out on the big players' field, but when the storm comes, your lines and circles and levels won't help you. Ever. When the whales starting to sell, you will be the first who gets slaughtered, because of the so obvious (and mainstream) idea which you build your trading on.

Think different. That is the first and only rule of successful trading and investing. You cannot lose if you spot value where others don't. You could stay alive if you call bullshit where others just dump in their money. Common sense. Please use it.