| Charting software comes pre-loaded with a | | | | in this information and miss trades, stay in trades too |
| tremendous amount of technical analysis indicators. | | | | long, or delude themselves that the losing trade is |
| It's fun to sift through the indicator tab and plot the | | | | about to turn around and become profitable. |
| various indicators looking for the one that best finds | | | | Perfecting a few indicators on a price chart can |
| tops and bottoms or new trends. | | | | create a path to profitable trades. Trend lines, and |
| For my style of trading staying as close to price is | | | | support, and resistance are my favorites. Keep these |
| the best strategy. Price is the essence of supply and | | | | simple indicators current and you can prove to |
| demand. Every calculation made on price tends to | | | | yourself their value. |
| alter the information revealed by price. For example, | | | | It doesn't take a fancy system with complex |
| moving averages "average" data, the stochastic | | | | algorithms to make money. It takes discipline, |
| oscillator attempts to define the current price in | | | | repetition, and patience. I think it was Jesse |
| relation to price action over a certain period of time. | | | | Livermore who is often quoted as saying, and I |
| Attempting to define, quantify, or average price can | | | | paraphrase -- It's not the "doing" that makes money, |
| create lag. | | | | it's the "sitting". |
| There is a place for a few indicators in a trading | | | | I have had the privilege of coaching traders who |
| system. Indicators can detect subtle changes that | | | | wished to improve their skills. One of the most |
| aren't readily visible on a price chart. Yet some | | | | common exclamations after our sessions is, " I didn't |
| traders have a tendency to become overly confident | | | | know trading could be simple AND profitable! |