When @Qullamaggie famously says: โNobody is smarter than the moving averages.โ
What he is really saying is:
โNobody is smarter than the prevailing trend.โ
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.