Technical analysis accuracy now is only 20% of what it used to be. As the market becomes more widespread, marginal effectiveness has dropped significantly. Staring at candlestick charts and drawing lines isn’t real insight. Your profits need to come from others’ mistakes. If everyone judges the same → no one makes mistakes → no profit. The real money-making opportunities lie in: • Structural supply and demand mismatches • Spotting macro turning points earlier than the market • Judging capital flows • Understanding policies in advance and positioning accordingly • Changes in liquidity The real moat: understanding the business itself