Answer somebody's question on quora https://www.quora.com/Do-moving-averages-actually-work-in-identifying-stock-market-trends
It depends on what stock you are trading.
Let us use the most general and broad use stock SPY as example.
Simply buy and hold SPY since 01/01/1998 to 01/01/2016, Compounding Annual Return 6.028% and maximum drawdown 55.3% and sharpe ratio 0.394