Mac, Don't listen to people who claim form study is only for losers. Many people say that because they are unable to come anywhere near getting a grasp of all the intricacies of form study, plus it involves a lot of time. It takes me many hours every week.
Would you believe anyone who told you that you don't need to know anything about the companies you invest or speculate in on the Stock Exchange - "Form study is for losers on the Stock Exchange. When there's a big takeover play the company making the takeover doesn't want to know anything about the company they are bidding for. Form study is for losers." It must be the silly season. It is not even worth your time listening to.