Hey guy's For the last while i have been getting into T/A more and more, but i feel i have some what of a threshold getting to the next step on T/A. For all you guy/s who know a HELL of a lot about T/A, what do you suggest i do? Any really good books, courses out there? How did you all get so good at T/A?
Very few among us are "so good at T/A". Many share your predicament. Self-help is the most sure and only path. For those who ever get there, it probably will have taken many years.
The following is just my humble opinion. There are probably a lot of people who sound and/or seem like they know more about T/A and its effective use than they actually do. I think that T/A is a fairly blunt instrument. The nuance and detail is in the individualized strategy that you develop encompassing basic T/A principles. I have no doubt that there are many who would disagree, but I think that the law of diminishing returns kicks in very quickly insofar as generic T/A is concerned. However, you could spend a lifetime developing, and improving on, viable trading strategies that incorporate very basic T/A principles. There is no lack of people out there who are ready, willing and able to teach you the tired, generic stuff that everyone already knows and that you can pick up from reading just a few of the thousands of books out there. But the "good stuff" you will have to figure out for yourself. I think that paid seminars and courses are just an expensive way of proving that point.
"If you only buy 1 book this is it." - Avalanche http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=100&CatID=3
thunderdog makes a valid point. i'd like to add... T/A is very useful if you manually set it up and practice it and use it as one of your tools for trading. If you plan to be a 'pure technician' then seek out the professionals in the business to help you get a good foundation to improve on. The above point about efficacy and canned generic analysis being more or less useless in actual trading is right on point. For every analysis indication you use, you must understand what it is measuring and it's limitations. There is much more but start out with a style that embraces your trading up to this point, then grow in your ability by practice and attaining greater knowledge of analysis mechanics. hope you do well in your quest. alex
Why don't you consider doing CMT (www.mta.org) ? Personally, I've been using TA since 1996 and in 2003 I thought I knew a hell lot about it But then I decided to become the first accredited technician in my country (Russia) and started the CMT program. Frankly, I discovered there were a lot of interesting stuff I did not know about :eek: I was fortunate enough to pass all 3 exams from the first attempts, but I would say the charter itself is not as important as the knowledge you get. In short, doing CMT helped me to (1) organize my previous knowledge "brick-to-brick" in my head and (2) get a lot of knew interesting and valuable information Therefore I would advise you to consider this opportunity if you want to (really) learn TA
Of course. It's just that the way I interpreted his original post on this thread, it seemed as though he's a bit confused and that he is anticipating something overly complicated/mystical.