Staring at a graph.

Do people who are into technical analysis actually spend the whole day staring at graphs waiting to spot the various patterns emerge? Or do they write computer programmes to tell them when the patterns are emerging? I'm not suggesting a computer programme to place the trades, but rather one to give an alert whenever the patterns emerge. Must be incredibly boring watching a graph for the patterns yourself if you don't have a computer programme, surely?

Hi Arbu, If your day trading and looking at 5 / 10 Min charts these patterns emerge all the time, also news coming out / figures etc day the day can fly by. There are on the other hand days when the market is flat and not much going on ! Take the rough with the smooth i suppose !

Yes. Yes. Yes.

Yes, some people do stare at graphs. Not all the pattern recognition the brain is capable of has been captured in algorithms and programmed into computers.

Yes, we write computer programs when we can identify and test the logic we perceive the brain is doing that spots the patterns we see.

Yes it is boring to watch a graph. Sometimes it's the advantage you have.

Thanks BG. When I've been on trading floors I've often been surprised by the amount of sitting around that's going on. That's why I've supposed that people are just waiting for these patterns. But if they're happening all the time then I suppose there's no need for a computer programme to alert you to them.

Trading is, frankly, ****ing boring. I consider it a bit like fishing but without mud and water.

Still, if you can get a computer to do much of the work for you, it shouldn't be too boring. My ambition in life is to get computers to make my living for me.

If you were taking positions because you had inspiration, out of wisdom you've accumulated over the years, because of your sound judgement, I would think it could be very fulfilling. But if you're just looking for a head and shoulders pattern to trade off, then I think, yes, it must be ****ing boring. I suspect that the sad truth is that the latter approach is the way that works much better.

Your assuming that all insights the brain is capable of can be captured in computer programs. I worked in AI (artificial intelligence), specifically pattern recognition, for a number of years, and my experience is that we are ten to thirty years from that ability.

If you can do better, the US Pentagon has several billion dollars to help you develop your ideas.