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A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
book

A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits

by Michael C. Thomsett
July 2015
Intermediate to advanced
352 pages
9h 40m
English
Pearson
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits

Magical Thinking and Trends

The opposite of scientific thought (game theory as one aspect of statistics) is a far less logical range of ideas collectively referred to as magical thinking. This describes casual relationships between events and subsequent responses or actions, which are not justified in a rational manner. Success due to good luck tokens, repetitive actions, and compulsive assumptions is widely believed and practiced, but it is not scientific.

Assumed correlations between ritual and result defy statistical observation, the application of the scientific knowledge, inquiry, and objective analysis. Even so, the market culture is characterized by frequent examples of magical thinking or, as it is often called, wishful thinking. To ...

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Publisher Resources

ISBN: 9780134190662Purchase book