All markets are the same

Don’t get me wrong, each market has their own reason for existing.¬†At the top of my head, the equity markets are a way for companies to raise cash by selling off a portion of their stake. Futures markets were originally created for farmers to hedge risk. Bonds are a way for governments or corporations to raise capital via debt. Forex markets are mainly for banks and large corporations to hedge currency risk.

Being a purely technical trader, what I mean when I say that “all markets are the same” is actually that “all price charts are the same”.

If I showed you a picture of a price chart without the ticker symbol, date, and price, would you be able to to discern with any accuracy who the price chart belongs to? See below.

100 points to Gryffindor if anybody can tell me the exact timeframe, price range, and symbol this chart belongs to.

I find it hilarious when I see trading “gurus” who mainly trade technicals or price action advise other people to stick with ONE stock or ONE forex pair in order to master the “feel” of the product. There is a constant flow of market participants that are moving in and out of whatever financial product you are trading. The “feel” is changing each and every second.

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