Announcement: Sharing is caring. That has always been our motivating force in helping traders navigate through challenging markets.
For almost a year I freely shared literally several thousand charts in our technical chart segment. The response and feedback was tremendous as evidenced by the positive feedback I received from many traders and the thousands of people visiting the site each day generating over 1 million visits just to the technical chart section of the site:
That’s the good news. The bad news: While I am very appreciative of the response, I’ve also come to realize that too much sharing can be too much of a good thing for the following reasons:
1. It’s not fair to our paying members. While they see so many additional charts & content frankly both Mella and I have put out way too many great set-ups in public which brings me to the next point:
2. The jinx factor. It’s all fun and giggles when a few people get to see the same technical patterns, but when all of a sudden thousands of people ( in some cases tens of thousands) stare at the same thing experience shows the patterns tend to invalidate themselves when too many people position for them. When I had a a couple of thousand followers on twitter it probably never mattered, but now that my twitter following has grown to over 30,000 people one could argue that critical mass has become a factor.
3. Last but not least, more and more of the charts were frankly getting ripped off and the work being passed off by some people as their own. It’s unfortunate, but hey, it’s the internet.
Bottomline: It’s a tough balance to strike between wanting to provide access, but also not to want to degrade the work or to be unfair toward paying members.
As a result, I’ve decided to pull the plug on the public technical chart segment effective immediately for the reasons mentioned above.
While this may come as a disappointment to many of you I think it’s fair to say I’ve been more than generous, probably far more than anybody else, with free public charts and analysis over the past few years. I will, however, aim to still share the occasional large picture/macro analysis in the Market Analysis segment.
Launching Key Charts:
For those still interested in technical charting I’ve opened Key Charts for a modest monthly fee. It will be more expansive than the previous public technical charts segment. As it will be a paid section I expect it to greatly reduce the jinx and copy factor and make it fair to our paying members.
For details please visit: Key Charts.
All previous public technical charts are archived here.