Trading strategies - Technicals

There has been enormous research on trading methodologies to be pursued by any rational and intelligent investor. Volumes have been written but none provide a definite path. I believe that if a path did exist to make assured profits, then imagine a market where every investor follows the same pronciple! Will all make profit ? Who would sell when the theroy says one to buy? !!!

Non exists dear friend. W. D. Gann (one of the most controversial and successful traders) had charted out numerous predefined technical analysis. But they are so complex and incomprehensive (especially when you are not sure whether to implement all or a few of the rules laid down) that it is impractical to follow them.

Technical charts may provide you some guidance - resistance, supports and moving averages but they cannot be solely relied upon on deciding which stocks to pick and which stocks to sell.
Purchases should be made on a company's fundamentals or news (speculation). The later can give hansome profits or leave you nowhere!

But I would rather view Gann's principles from the philosophical angle - which advices one to show restraint on greed and be unnerved by losses. Stock market is essentially different from any other form of business - in other cases of life 'you' are the actor and your efforts get reflected; but in the market its too huge for any single participant to control ( leave out the stories of influencial people who can change credit policies or set the company rules ). Other forms of insider news is stictly unfair though they have significant impact on determining stock prices.

"... it turns out for all practical purposes there is no such thing as stock picking skill. It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation ..." - William Bernstein, The Intelligent Asset Allocator