Top 7 Technical Analysts of All Time Share Their Secrets | ETF HQ
Everywhere you go online there is another guru selling the latest TA system accompanied with confusing looking charts. I decided that if there wasn’t a long list of very rich Technical Analysts out there then I had lost enough money using TA and was ready to quit. To my delight I discovered many successful traders and investors who had the track record to prove that Technical Analysis does work. Here is a list of the traders I found particularly noteworthy:
Originally a stock analyst but got sick of having to write bullish investment advice on overpriced companies. He developed and combined several technical indicators in an effort to determine lower risk entry points for his trades. Schwartz found success when he shifted to technical analysis and focused on mathematical probabilities.
He ran his account up from $40,000 to $20 Million and also won the U.S. Investing Championship in 1984. When asked if Technical Analysis works he replied “I used fundamentals for nine years and got rich as a technician”. A big advocate of moving averages, Schwartz identifies healthy stocks by looking for positive divergences in price action over the broad market.
They (traders) would rather lose money than admit they’re wrong… I became a winning trader when I was able to say, “To hell with my ego, making money is more important” – Marty Schwartz