Dear Friends,
The very purpose of Technical Analysis is to remove fear and greed factors from the minds of the people who apply Technical Analysis. And working in this respect, several Analysts created innumerable indicators, different types of mechanical systems as per their ideas and experience. And infact all these thing are to be properly construed by the users, while practicing them.
In these days we are having a good number of studies for our choice to choose a study that suits to our psychology to make us win in the markets.
As every different trader is having a different type of psychology, he/she should understand first which system in which periodicity( time frame) is suitable to him/ her.
It is not that every winning system wins money for others. I used to hear a saying in the markets from the face of experienced and successful traders " I know people who cannot make money in markets though they have tomorrow's newspaper today." And the very reason for this is the mind of the traders.
Ofcourse all this stuff is known to everybody who is reading this thread.
The question is how to practice the theory and before that how to finalise on the theory,which suits to our psychology, to practice .
I'll come back again with the points to be discussed in perfect order, right from trade design, identification, initiation, exit, trade audit, practicing the theory, how to tame the enemies present in our mind that cause losses to us and how to groom well the friends in the mind that help practicing the theory, the inputs required for trading/ investing which include the paraphernalia that required for our trading practice.
Meanwhile, i request you to post your experiences so that we can build the order, for practice, in a betterway because of the coverage we get over number of experiences, once the theory part is complete.
Thanks and happy technical trading
AJAY
The very purpose of Technical Analysis is to remove fear and greed factors from the minds of the people who apply Technical Analysis. And working in this respect, several Analysts created innumerable indicators, different types of mechanical systems as per their ideas and experience. And infact all these thing are to be properly construed by the users, while practicing them.
In these days we are having a good number of studies for our choice to choose a study that suits to our psychology to make us win in the markets.
As every different trader is having a different type of psychology, he/she should understand first which system in which periodicity( time frame) is suitable to him/ her.
It is not that every winning system wins money for others. I used to hear a saying in the markets from the face of experienced and successful traders " I know people who cannot make money in markets though they have tomorrow's newspaper today." And the very reason for this is the mind of the traders.
Ofcourse all this stuff is known to everybody who is reading this thread.
The question is how to practice the theory and before that how to finalise on the theory,which suits to our psychology, to practice .
I'll come back again with the points to be discussed in perfect order, right from trade design, identification, initiation, exit, trade audit, practicing the theory, how to tame the enemies present in our mind that cause losses to us and how to groom well the friends in the mind that help practicing the theory, the inputs required for trading/ investing which include the paraphernalia that required for our trading practice.
Meanwhile, i request you to post your experiences so that we can build the order, for practice, in a betterway because of the coverage we get over number of experiences, once the theory part is complete.
Thanks and happy technical trading
AJAY
