To answer the question "How to Become Better at Technical Analysis" I'd say start with familiarizng yourself with the fundamentals of market structure. Start with the basics, reading the classics like "Technical Analysis of Stock Trends" by Edwards and Magee and/or "Technical Analysis of the Futures Markets" by Murphy. You don't need to read the entire books, just the material on market structure, so you begin to gain an understanding of trends, consolidations, tops, bottoms, breakouts, pullbacks, upthrusts, shakeouts, and tests. The ways markets move and the structures they create along the way. Also the books by Justin Mamis - "The Nature of Risk", "When to Sell", "How to Buy". Read "Charting the Stock Market: The Wyckoff Method". Read one or two of the classics on Market Profile and/or Volume Profile, which will not only add depth to your understanding of structure but also how the auction market works. Read "The Art And Science of Technical Analysis" by Adam Grimes, which will pull a lot of the previous material together. Read them all and these books will give you various ways of looking at and interpreting the same fundamental elements of market structure. The point is not to fill your head with a myriad of different approaches to interpreting the markets so that you experience information overload, the purpose is to recognize how they are all describing the same market structures from different perspectives. In this way your knowledge of structure has breadth and depth. Once you begin to grasp intuitively the larger picture of how and why markets move and what the structures mean in an auction market, you can then begin to find your own way to interpret the markets, perhaps utilizing and combining elements of the various perspectives you've come to understand.
The only TA that you need is price action and MA or EMA. Nothing more. The rest of indicators, MACD,RSI,BB, etc are BS. Dont waste your precious time studying more TA. The more important part of trading is Money Managment, Risk/Reward and of course Psycology.
To become better at technical analysis, you can try the following: 1. Practice regularly: The more you practise, the more you'll become familiar with chart patterns and indicators, which can help you make better trading decisions. 2. Stay up to date: Keep track of market trends and news, as these can have a significant impact on currency prices. I google my favourite news website every day. An economic calendar is a must too. 3. Learn from experienced traders: Consider taking a course or working with a mentor to learn from experienced traders who have a proven track record of success. 4. Test your strategies: Use a demo account to test out your technical analysis strategies and see how they perform in a live market environment. This can help you refine your approach and identify areas for improvement. 5. Stay disciplined: Stick to your trading plan and resist the temptation to make impulsive trades based on emotions.
I'm too lazy to carry on working once I no longer had to, especially for a taskmaster like Platt; I retired at 39. I have plenty of time to write books as my system is fully automated. 90% of my income comes from trading and investing. Only about 5% from writing books. Sure most people who write trading books are scam artists. But not me. GAT
%% Good points; not sure its that's simple, but actually you never said it was that SIMPLE Many of the millionaire investors[made a million or millions] invest; even though month of March or SEPT may not be the best month to start investing. JAN or late JAN looked better than FEB[TA + useful 20-20 hindsight + seasonals]
I'm willing to give anyone a shot. Can I ask your name or that of one of your Books please. I'll give it a go.
What books do you recommend Dest? Trading books I'm talking about lol? Please don't say Hull, that's just cruel.