I agree with you and bungrider.. and would add that I view TA... as "Technical Art". Whereas in the beginning I was much too precise, thought it was science or "magic", and often did not allow for enough 'finesse' in it's interpretation and application. Not arguing for not being precise but too often the chart can be "used" to shake out and accumulate/distribute by those who know the likely reaction of certain "traders" at given levels. Anyone who has come closer to "mastering" its' use.. will understand what I infer. If I was to give one suggestion to any newer trader seeking to use TA... it would be to understand S/R* and it's "nature" in connection with time and volume at given levels. Ice * support/resistance
i think that a lot of rookies think that stocks are the best place to start. someone (haha) keeps telling them that "its easy and all you have to do is check your list of stocks and some program will screen the list for winning trades that will 'pop-up' for you to see each morning". we all know that this is far from the truth, but somehow its tougher to say "screen your index list" to pick the index that will move in your favor. either way, there are pros and novices in both markets. (gladly, there are tons of novices in the options market - who do you think always buys those out of the money call options?) Pete