Scanning Software and Techniques, page-11

Pinto,

"1.Almost all daytraders go broke.
2. Of the few that don't go broke ---------- most lose money. Very few make money over a long period - and even fewer make what would be called - a lot of money - ie. successful traders.
3. Very often - traders (DT or ST traders, swing traders - any traders) - get stuck in trades and become investors."

If you can provide some independent data to back up your statements for 1 and 2 that would be appreciated. In the meantime, rest assured that there is a thriving Technical trading community that does quite well trading in Australia. To write off TA is not being realistic, in my opinion.

As MK Gandhi said... "There is room for us all" (I am not sure if he was referring to FA and TA traders!)