Technical analysis is hardly 10% of stock market.
Other things like treating trading as business, discipline , patience,maturity,observation of price,predictive analysis,money management,trade diary writing,preparing a scan list,staying independent ie. free from others' opinion to develop objectivity and ofcourse macroeconomic relations & interpreting govt policy/regulations matter in MARKET.
since topic is TA only,.....i shall talk on it.
Applied ta suggests to deal which timeframe u can develop predictability.Understand its a futuristic game,.......so u r studying past with all ur resources,then practicing them on short term on thematic basis with confirmation by price.....as if paper trading ,practicing of controling emotions-fear & greed .
THEN u do the same with money.........with 10% scability, after every six month improve the scale.
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Basic of TA is ACTUALLY out of context, but one may take it as somewhere we should start.Why TA works ? to understand market psychology .
Just follow any std books available downloadable from 4shared.
Study concept of support-resistance-trend .
MA -MA cross-MOMENTUM-mean reversion-ADX-BAND
then practice predictability, being wrong use of STOP.
...........WHEN u objective analysis can be formulated to programming in a software,with a scan........so that u can take position in opputunity early compare to other traders,it is then USEFUL.
Ofcourse u can spend to snake oil vendor........available in every big city.