What to use: technical or fundamental analysis?

A dispute over what is better: technical or fundamental analysis — reminds a dispute between materialists and idealists «What is primary?». In my opinion fundamental analysis is much more difficult to study and use than technical analysis.

It is explained by several factors:

• There are much less books devoted to the problematics of fundamental analysis. In most books only one small chapter or even nothing is devoted to fundamental analysis. And it is rather difficult (though interesting) at least with relation to the number of necessary books to read specialized literature on macroeconomics and economic theory.
• Often a fundamental analyst needs a background in economics (high economic education).
• A fundamental analyst must constantly monitor news, political events etc. Even a short vacation leads to gaps in understanding of the current situation. As recently as yesterday lowering of interest rate led to strengthening of a currency but today everything is vice versa: new factors unaccounted by You due to the absence appeared. And again as in sport you will have to “catch up”.

Anyway it is useful for a fundamental analyst to know some methods of technical analysis. For example to know how to determine support and resistance levels in order to determine properly entry points for a trade.

Resuming all the above mentioned in my opinion for an inexperienced private investor the most optimal method to forecast the future price dynamics is to use classical technical analysis or its variants: chaos theory, the Ichimoku indicator, Japanese candlestick combination, Demark’s theory etc.