How does one move beyond technical analysis?
- Thread starter Kovacs
- Start date
Quote from OddTrader:
I was told that something beyond TA is called Anti-TA!?
lol Too abstract
Market profile is starting to become the next bubble.
Besides assessing time, I don't think it's really the "golden egg". Simple analysis of market S&R and even volume by price (although it's very difficult to find someone offering this) is good too. Market S&R evolves day after day and I don't see market profile taking into consideration a healthy amount of what's out there.
Am I missing something with market profile?
It's already been said, but I'll second the thought. Ditch the indicators. They only take up valuable screen space. Sit back a bit more from your screen and look for the big price swings. It won't suit most day trader types but when you get it right, if you keep your emotions at bay (+ a good stop loss/target system) you'll kill 'em.
The stock market is just data. Compile some data from a few days and run a statistical analysis on it. This may change your views of the market. I'm not trying to start a debate about randomness vs. technical but technical analysis is useful on a random data set. If you can adopt this way of thinking you'll never look at the market in the same light again.
Everything mentioned here, including using Price by itself, is Technical Analysis.