Hi guys, I am looking for an example of technical analysis and a real subsequent trade? Would you be able to give such an example (without revealing your method / technique) in simple language and covering the main points and reasons for inference etc. I want to understand how to do practical technical analysis beyond the obvious theoretical ones like - look at the trend, observe candlestick patterns, RSI, moving average and other such defined ones.
etrades, You might take a look at the Hall of Fame Threads found at the bottom of the EliteTrader homepage. Several of them demonstrate trading using technical analysis.
You may want to give your own example of what you're talking about instead of trying to explain such. I'm sure you must be talking about explaining such via charts and screenshot of trade fills in broker trade execution platform in your reference of a real subsequent trade. I've seen traders do the above in the trade journal section...they talk about the real trade via a screenshot of the trade in their broker trade execution platform...the talk (explanation) is via technical analysis. That may be an issue...some do post what you refer to as real subsequent trade and they either explain the technical analysis of the trade either prior to posting the real subsequent trade or after posting the real subsequent trade. There's others that just post statements without any generic explanation of the technical analysis they're using except to say they use technical analysis...these are the traders I think you're talking about. Trade Journals @ https://www.elitetrader.com/et/forums/journals.29/ Hall of Fame @ https://www.elitetrader.com/et/pages/hall-of-fame/ Yet, if you're looking for verification about the merits of TA...that's not the way to do it because two different people can be using the exact same type of TA while one is a winner and the other is a loser. The difference is the trader (that's your edge) and how that trader is applying the TA with whatever other variables they're using in their trading that's not related to the TA. Obviously the key is the trader and their application of the TA. Most don't get it while few do get it...its garbage to most and money to the few. wrbtrader
Not sure what's driving your enquiry. Are you finding the simplest TA is not reliable, or you cannot trade such TA sufficiently profitably? Most of all, what's wrong with trend-following?
Most don't keep garbage lying around, so most work on current method to extract cash from other entities' account. You more interested in the last part of entry, you need to study when not to take trades, what is market showing to not take obvious trend trades. Anyone can get into the market, but better traders learn price action shows ends of trend. Imagine how you could do for the day if you didn't have two losing trades.
I can say the highs/lows of the day, pre market etc. are helpful, but use also levels of liquidity in Bookmap heatmap to get better conviction