How to become better at Technical Analysis?

Discussion in 'Technical Analysis' started by hekktor, Oct 19, 2022.

  1. TrAndy2022

    TrAndy2022

    When I read latest posts here than you also have to decide whether you want to be systematic trader with known rules or discretionary trader. Huge difference.
     
    #31     Oct 20, 2022
    hekktor and Stratter like this.
  2. They kind of mesh... a bit of emotional conflict either way. No pat answer.
     
    #32     Oct 20, 2022
  3. TrAndy2022

    TrAndy2022

    You can have a look here, what is around.
     
    #33     Oct 20, 2022
  4. TrAndy2022

    TrAndy2022

    You can also look here.
     
    #34     Oct 20, 2022
  5. Sprout

    Sprout

    Study the "A place for everything and everything in it's place" methodology. You can do this via a direct experience of observing market generated information.

    Every FA and TA concept and more has it's own cubby. Cubby's can be organized like-to-like. Some cubbie contents are duplicates, some cubbies can be combined and merged. Some cubbies are so packed they need to be expanded into more cubbies. Some cubbies have no backend and are rabbit holes into other realities. All the cubbies have relationships with each other. Some relationships are interchangeable. Some relationships are hierarchical. Some relationships are dependent on other cubbies, some are independent.

    A hand-written log comparing and contrasting bar-by-bar movements of anything you are studying show relationships. A price chart can be distilled into 10 cases of two bar price patterns that repeat and 11 volume elements that repeat. One can notice in the course of a trading day where there are injections of liquidity by filtering on the largest set of volume spikes. Cross reference this with swing points in market structure. The counterpoint is knowing where there is a lack of liquidity and what are the signs of a market imbalance.

    You can put on different "glasses" by which to view cubbies. If visual discretionary trading is your style, then Volume Profile and Footprint charts will add more cubbies and show your existing cubbies and their relationships in a different way.

    When you come across new trading information find where is fits into your cubbie universe and add a cubbie if it requires it.

    Market generated information distills into (OHLC + Volume + Time) * Perception. How you interpret these seven datapoints is dependent upon your existing Beliefs. Beliefs are based upon values and they form your perceptions. Your perceptions will change your interpretations of OHLCVT. Some beliefs will have you only look at OHLC, others will place different emphasis of premium or discount on V and T.

    Paradox and confusion are the guardians of the gate. You, as a trader, are building in a word - confidence. This is a fundamental quality to cultivate to travel the path of uncertainty.




    ElephantIllusion.jpg
     
    #35     Oct 20, 2022
    MACD, Stratter, hekktor and 2 others like this.
  6. TrAndy2022

    TrAndy2022

  7. Leob

    Leob

    I guess you have to experience something to really understand this text.
     
    #37     Oct 20, 2022
    hekktor likes this.
  8. %%
    TRY to go see the movie\ ''The Sting'' since you like bit cons; + try to get a banker relative to pay for it, even though it was only a couple of bucks in 1973:caution::caution:
    [2] Dont pay much attention to elephant dust; but like IBD founder father noted ''when an elephant gets in a bath tub, so to speak, you can always tell ''[LOL liquidity level]
    [200] 200 day moving average is only for real markets ; so only 50 days of data will not work for that .....
    [777]IF you fail for 6.66 years that's much worse than average;
    so skip the bit cons+ study fundamentals.[ Dont forget to declare you bit con losses on tax returns, terrible risk reward for that failure.] Hope this helps; it helps me.
     
    #38     Oct 20, 2022
    countryBoy641 and hekktor like this.
  9. taowave

    taowave

    You are clearly NOT curve fitting,optimising enough...

    You will get there :)



     
    #39     Oct 20, 2022
    hekktor likes this.
  10. hekktor

    hekktor

    Do you have estimates on what a frequent enough setup should look like?

    If trading full-time, on the daily timeframe, how many trades do you usually execute on a daily/weekly/monthly basis?
     
    #40     Oct 20, 2022