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(The Truth/Reality of Technical Analysis
Source, The INSANE Story of the…
The Truth/Reality of Technical Analysis
Source
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"Technical Indicators" are useful, but Distract from what's important
USING ONLY INDICATORS YOUR TC IS WRONG: Relying on indicators for Buy or Sell signals without learning how to read price action is a mistake.
Your TC should make you understand the process. You must know why you're Buying or Selling an asset.
BE SELECTIVE WITH INDICATORS: Add 1 or 2 indicators, but not until you fully understand what's happening with the price action on your chart.
ASK YOURSELF: Are your indicators actually adding value or you just like them because they look cool on your chart?
COMMON MISTAKE:
LATE ENTRIES: Waiting for perfect setup by 3-4 indicators confirmation. Most of the time you'll late and most of the gains are already occurred...
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In 1960 investment done by asking "Why". Instead Simmons focused on "How" by using 3 factor: Price, Volume and Volatility to segregate the market movement into eight different "states" to trade accordingly.
This is the early stages of Quantitative Analysis.