When @Qullamaggie famously says: “Nobody is smarter than the moving averages.”
What he is really saying is:
“Nobody is smarter than the prevailing trend.”
And that principle has remained true now for decades, likely centuries, if we had the data.
Years later, @JamesClear 3-2-1 is still the best newsletter in the game.
So much of the boom-and-bust cycle of trading is caused by inconsistent process.