Quote from jack hershey:
If you think anything you are presently doing is meaningless; get that out of your head right now.
Yes, learning the market in the beginning is a disjointed, non-linear process. If I were to generalize my evolution as a trader over the years, then it would be as follows:
1. Learn the major areas of technical analysis. This is an ongoing process; investigate everything. Don't be dismissive of any area until you have proven it to yourself.
2. Develop a simple working system incorporating some basic technical analysis elements; I believe this is (and it was) the hardest step. That is why this thread is so valuable - it contains a specific methodology, and you will have the framework for developing one of your own.
3. Develop a suite of systems over several time frames: intraday scalp, intraday position, multi-day position, long-term sentiment.
4. Develop a flowchart of system-to-system interaction, i.e., identify when your intraday system overrides your multi-day system and vice versa. If the systems are in sync, then ride them all. If the intraday signal is extremely reliable, then don't let it just hedge your multi-day system. Reverse and re-establish the higher timeframe position at the end of the day.
5. Cross-pollinate the systems. For example, if one system is very good at identifying major support and resistance, then incorporate those levels into the lower timeframe system, perhaps using these levels as areas to take profits.
PTR