Here is my question, is there a relatively simple way to trade without over-analysing the chart?
Simple answer, no there is not, there are millions of people whose job is to make sure you do not succeed, and fund as many times as is possible to keep the whole show going, could you do this decades ago in the Buffett era, absolutely, today it is a different game.
Technology runs the show, the consultants know have seen there is quantum computing in the markets because there are patterns even the fastest supercomputers could not process, people can still beat quantum with their consciousness but it is difficult, the average person would not stand a chance.
There is a very long knowledge base but simply very few could ever make enough to live on the returns, like 0.01% and that would be generous, without investment grade capital to start being $1million. Between that and what everyone else has the markets have arbitraged every possibility out except one, sub minute timeframes, basically it's too complex for them.
Have access to a hedge fund grade system with algos (running at HFT milliseconds) that pinpoint near 100% entries at 1sc and 10sc timeframes, the problem is after you enter the markets catch wind of what is going on and make life intensely miserable, then what about in the 15min, 60min timeframes, you are in the middle of a normal distribution, one of the consultants showed me this a few weeks back.
Everything at and above 1min and in the past below 4hr timeframes was non-linear, today linear is still sub minute and now under weekly timeframes, yes hedge funds and institutions are also being taken out by Sovereign, but be aware of one simple fact in life and doubly so when dealing with the markets, everyone is faking it to make it. The consultants spent a decade designing the system which covered sub minute linear, non-linear trading/investing, and above 4hr investing/wealth management.
Which raises the question, can anyone get access to it, Bloomberg'esque terminal at $2k/mth with 100ms charts and integrated algos across all assets, and the simple answer is they can't be bothered, to be successful at anything is a lifestyle choice, fail at that and you automatically fail at whatever it is you are doing. I know that because I was having to teach someone to use the system and they refused to adjust their lifestyle, obviously they blew up even though the wealth managers told them enough information to succeed.
The fact the markets are about money makes the spread between success and failure even wider, the closest you will ever get to a public accessible trading platform is Elliott Wave via eSignal, it was added from the AGET software which was actually better without the 'padding', and that will only provide 80% probability, if you want above which is what I have access to you have to change they way you live life. Eat healthy, early to bed early to rise, daily exercise, low stress, and importantly low expectations of life or more humanity, meaning the world will do everything in its power to make you fail so they make one extra dollar, no matter it cost you $100 or $1million, truly they do not care and that will be true of basically all advice you receive.
The summary is very simple, you are not supposed to succeed at any point in the markets, actually it's the same with life, keep working until you drop or did you think the current inflation was an accident, everyone's definition of success is that they are profitable to 1-2% per month which is great until you understand the entire financial system is built on fractional reserves and can implode at any moment taking your capital with it, or if they can just get away with it because you're low hanging fruit. Take a look at FTX, apparently Binance induced it saying they were underhedged, same happened to LTCM because they were providing 'public' 30-50%pa returns where only 15-20%pa hedge fund returns are deemed acceptable by the financial markets.
Investments should be 20% of net worth, if you need $10k per month at 1% return on capital that is $1million capital available to invest, which is $5million net worth, hence anyone with less than $100,000s capital are basically just playing in the markets, unless they are scalping the markets and even then one of the Market Wizards said they don't make much profits on scalping, it provides knowledge in to the investment grade trades, which is true with futures at 50:1 leverage, but 500:1 forex it becomes a lot more interesting!
after another.