How to become better at Technical Analysis?

[taowave]

For the vast majority of indicators,Deaddog is right.

What ???
If indicators follow the price, why are they even on a chart?
And why would anybody ever pay for a chart service that didn't help predict direction, amplitude, reversals etc?
This young guy wants to learn some TA. Why confuse him ?
Or stop kidding with him.
***
Quick glance through this thread, seems the obvious thing is missing.
The only way to make money with charts ... is to look at a ton of charts. MO
When I was a kid, I had Mansfield Charts - heavy loose leaf binder.
I didn't buy it. ?The Office bought it.
Total Old school.
What chart service does the OP use?

 

[hekktor]

There is also a "Micro ES"... MES symbol... trades 1/10 size of ES. Good one to get your feet wet.

Super. Thanks a lot, Scataphagos!

 

[hekktor]

I appreciate the discussion on price action as a forecasting tool!

I understand that many technical indicators like the MAs reflect previous price movements. I also agree that fitting a curve has predictive potential, through likelihood of occurrence.

Nothing is certain, but other behaviors are more likely to occur than others. I just need to find out which of them are (and make sure the process of finding them is statistically valid).

 

[countryBoy641]

I appreciate the discussion on price action as a forecasting tool!

I understand that many technical indicators like the MAs reflect previous price movements. I also agree that fitting a curve has predictive potential, through likelihood of occurrence.

Nothing is certain, but other behaviors are more likely to occur than others. I just need to find out which of them are (and make sure the process of finding them is statistically valid).

The average response to TA is "it doesn't work".
That sets a very caustic environment to learn.
If you (hekktor) want to know more about TA email me:
tfischer641@gmail.com
I'll help where I can.
***
TA is like most things in life.
If you know just a little, it's of little or no use.

 

[hekktor]

The average response to TA is "it doesn't work".
That sets a very caustic environment to learn.
If you (hekktor) want to know more about TA email me:
tfischer641@gmail.com
I'll help where I can.
***
TA is like most things in life.
If you know just a little, it's of little or no use.

Thanks for this countryBoy641! I will learn as much as I can with the free resources, and I will definitely reach out in the future, make the most out of your help

 

[deaddog]

What ???
If indicators follow the price, why are they even on a chart?
And why would anybody ever pay for a chart service that didn't help predict direction, amplitude, reversals etc?
This young guy wants to learn some TA. Why confuse him ?
Or stop kidding with him.
***

Indicators are on the chart because they make the data visually pleasing.
Show me an indicator that doesn't need price to change before the indicator changes.
You've been around long enough that you probably plotted your own indicators using the latest data from a ticker tape.

 

[taowave]

Im 99% with you,but there are some indicators which do help "eye ball trading/Chart reading"...

With that said,price is an input.i.e standard deviation,ATR's and various correlation measures...

I think most of the ET multi millionaires here have made there money strictly off of charts,no need for anything else

Indicators are on the chart because they make the data visually pleasing.
Show me an indicator that doesn't need price to change before the indicator changes.
You've been around long enough that you probably plotted your own indicators using the latest data from a ticker tape.

 

[deaddog]

Im 99% with you,but there are some indicators which do help "eye ball trading/Chart reading"...

With that said,price is an input.i.e standard deviation,ATR's and various correlation measures...

I think most of the ET multi millionaires here have made there money strictly off of charts,no need for anything else

I'm not saying that indicators don't help. They are a quick way of seeing what the price and volume are doing. Like I said visually pleasing. I use them myself.
I trade mainly off the charts. I may look at what price is doing compared to what an indicator is doing. But I mainly keep an eye on price and volume.

 

[murray t turtle]

There is also a "Micro ES"... MES symbol... trades 1/10 size of ES. Good one to get your feet wet.

%%
GOOD THING\ they did not nickname it MESS.I read in TIME MAGAzine some yeas ago\ name gaming companies =>$ 300,000,000 business

 

[longandshort]

It’s best to avoid TA and charts. I would build a foundation in asset pricing (what drives returns in the first place?) and then learn how to evaluate the market implied outcome.

From there you can add to your style by incorporating other useful analyses (but make sure you research them and test them to make sure they add value — I can guarantee most of what’s written about markets & trading on this forum or on Amazon bookshelves are useless).

You should be seeking to emulate portfolio managers at hedge funds (think: citadel, balyasny, millennium, bluecrest, brevan Howard, etc.). These are the “professionals” that actually make money in markets. Retail punting is not a demonstrable skill.

here are some examples of the types of skills and approaches you would want to develop: