First, no system is perfect. If you're a trader, you want something that will shift your odds from 50/50 to 55/45. Can some forms of TA do that in certain market conditions? I believe so. When the market is driven by certain factors, say, retail traders, TA likely performs better simply because other people are using TA. Doing TA can tell you what the morons are doing.
Also, I believe it was "The Long, Good Buy" book which covers the advantages of mean-reversion strategies and provides backtested analysis. If a stock moves by a large amount in a short period of time, it will likely mean-revert somewhat and you can take advantage of that.
Do I think any of us computer folk should mess around with this? No. The best trade is to improve your skills and get pay raises.
Just a side note: you can be highly successful with less than 50% win rate. Many trend following strategies are 30/70 but are still profitable due to how much they win when they are right and how little they lose when they are wrong. The expected value is what matters not a high win rate.
First, no system is perfect. If you're a trader, you want something that will shift your odds from 50/50 to 55/45. Can some forms of TA do that in certain market conditions? I believe so. When the market is driven by certain factors, say, retail traders, TA likely performs better simply because other people are using TA. Doing TA can tell you what the morons are doing.
Also, I believe it was "The Long, Good Buy" book which covers the advantages of mean-reversion strategies and provides backtested analysis. If a stock moves by a large amount in a short period of time, it will likely mean-revert somewhat and you can take advantage of that.
Do I think any of us computer folk should mess around with this? No. The best trade is to improve your skills and get pay raises.