My Journey In Technical Analysis
- Thread starter XRAY27
- Start date
There are Many schools in TA,
1. Classical TA -Candle patterns, Chart patterns ,known indicators like ,RSI,MACD,Stochastic ...
2. Price Action (YTC School),Structural Pivot (MP's and VP's) aka Bill Williams school
3. TDST - Demark analysis has proved to be extremely valuable in terms of finding the terminal point of trends
4.Elliot Wave Theory:
5:Market Profile and Volume Profile.. they may be much more
Main Reason why trader fails in market is his inability to adopt to a school of learning,even he adopts to a school repeated failure in trades ,drags him to learn others schools,which eventually leads him to make a super system with all good qualities of respective schools...which is not possible ,many years will be wasted in this process
Significant failure stories are also through Training/Mentorships from Twitter Gurus, aiming to become successful trader just by attending single day seminar, off course there may be 1 or 2 good Mentors /Trainers, but at large there are snake oil vendors
Understanding that one cannot adopt to every school of trading itself is like knowing everything.Until he defines entries and exit rule without ambiguity he will not move anywhere !!,
1. Classical TA -Candle patterns, Chart patterns ,known indicators like ,RSI,MACD,Stochastic ...
2. Price Action (YTC School),Structural Pivot (MP's and VP's) aka Bill Williams school
3. TDST - Demark analysis has proved to be extremely valuable in terms of finding the terminal point of trends
4.Elliot Wave Theory:
5:Market Profile and Volume Profile.. they may be much more
Main Reason why trader fails in market is his inability to adopt to a school of learning,even he adopts to a school repeated failure in trades ,drags him to learn others schools,which eventually leads him to make a super system with all good qualities of respective schools...which is not possible ,many years will be wasted in this process
Significant failure stories are also through Training/Mentorships from Twitter Gurus, aiming to become successful trader just by attending single day seminar, off course there may be 1 or 2 good Mentors /Trainers, but at large there are snake oil vendors
Understanding that one cannot adopt to every school of trading itself is like knowing everything.Until he defines entries and exit rule without ambiguity he will not move anywhere !!,
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THE IMPORTANCE OF MONEY MANAGEMENT
“Money management is the most important part of a trading strategy.”
You will often see this quote in books about trading, but I disagree with the premise of the statement. In reference to this, let’s introduce two important tenets
of money management:
1. No money management technique can turn an unprofitable trading strategy into a profitable trading strategy.
2. Poor money management technique can turn a profitable trading strategy into an unprofitable trading strategy.
According to the first tenet, we need a winning idea in order to trade profitable. Because of this, I believe that designing a profitable strategy is the first and foremost key to a successful trading program.
Source:Lars Kestner.
“Money management is the most important part of a trading strategy.”
You will often see this quote in books about trading, but I disagree with the premise of the statement. In reference to this, let’s introduce two important tenets
of money management:
1. No money management technique can turn an unprofitable trading strategy into a profitable trading strategy.
2. Poor money management technique can turn a profitable trading strategy into an unprofitable trading strategy.
According to the first tenet, we need a winning idea in order to trade profitable. Because of this, I believe that designing a profitable strategy is the first and foremost key to a successful trading program.
Source:Lars Kestner.
Investor and trader ,many think that both are different ,but both need same traits ..like selection ,timing the entry,nurturing it investment or trade...and profit booking..trader needs to adopt to a school of TA method and develop a system ,follow it to its core is the basic necessity ,Investor needs to understand financial statements (P & L and Balance sheet),and Accounting Standards,market of the product,management school ...90 % don't know any of this ,but they put them self's in the shoe of investor ,which makes them burn in the market..under the umbrella called long term investment
Investor are of two classes those who catch multibaggers ,investor with 1 to 3 years out look...
Learn the basic difference and enter in that domain,don't confuse your self with out know any thing..,Multibaggers are found in Mid caps with potential to move to large caps and large caps are 1 to 3 years out look..
Investor are of two classes those who catch multibaggers ,investor with 1 to 3 years out look...
Learn the basic difference and enter in that domain,don't confuse your self with out know any thing..,Multibaggers are found in Mid caps with potential to move to large caps and large caps are 1 to 3 years out look..
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Significant testing series
,Both intra/swing are in loss till now !!! well !!! what making me to enter next trade it is the MM,which is keeping the account ... always remember ,Great trades sometimes come with small losses. Keeping losses in check is key… there is always another day and capital is a trader’s lifeblood.
,Both intra/swing are in loss till now !!! well !!! what making me to enter next trade it is the MM,which is keeping the account ... always remember ,Great trades sometimes come with small losses. Keeping losses in check is key… there is always another day and capital is a trader’s lifeblood.
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