Personal Study Vs. A Technical Analysis Course For The Chartist

A chartist can decide to go with a technical analysis course or they can learn by their own studying

. Many a chartist goes with the idea "follow the other guy...he may know more than I do about the basics." Most chartists follow the tenet is "until it stops the trend will continue." Most chartists attempt to anticipate a trend move . Chartists are known to end up with amazing profits at one time and then big losses in another week . A chartist always tries to think about their capability to recognize the commencement of either a congestion area or a trend reversal . As trends go on, chartists stay happy . In figuring out whether a trend is going to reverse , or there is activity in a congestion area or any trend problem, the chartist becomes very unhappy .

Chartists are an interesting species. He really gets off on all the wiggle-waggles . What usually happens to the chartist is that they can't see the forest because of all the trees. And they never overfill their tool bag until the end when all the information and the systems end up blocking their thinking.

He looks on unreceptively and blankly for many hours at a chart , without realizing what the chart has to say. The major problem is that they try to figure out what prices are doing from the charts , instead of letting the charts know what he requires .

One suggestion : When chartists come out of the fog , they need to take time and write down the request from their chart . The chart is none other than the computer of facts and information , and like you do with a computer, you have to let it know what you want the computer to tell you , and what criteria to use, and, they can only do this with a trading plan that is preprogrammed . A trading plan is required by the chartist and that from the chart he gets criteria that will work along with the plan he has. Deciding to invest in a good technical analysis course is excellent advice.

Chartists that become a success are

* a) unlikely to take a long position

* b) before getting margin calls are more likely to close out their position.

* c) not as likely if they get a margin call to put up additional margins

* d) are more likely to pyramid profits and trade various commodities .

A Chartist that is unsuccessful

* a) tends to cut profits short and allow losses to run

* b) will usually be long rather than short

* c) has a clear tendency to buy on days of price declines and to sell on price rises . Price level traders is what this action shows these chartists to be.

There is no track record possible on chart readers in general , but a track record is certainly feasible on the performance of any particular chartist . Until chartists are willing to subject themselves to one kind or another of track record , taking their claims seriously is impossible . Few would doubt that formation "head and shoulder.". Yet , the reversal signal of one will flag another to go on . Quite often, if a chartist is correct usually the decisions he made in the market were merely luck . This leaves the trader incredibly aware that technical analysis course competence does not insure competent trading . Those who end up losing do so not always because of bad analysis but instead because they couldn't turn it into good practice . In order to bridge the gap that is between analysis and taking action requires overcoming the threat of greed, hope, and fear . This means they need to keep impatience controlled and abandoning a sound method for a new one, especially during time of temporary adversity .

by: Charles Drummond

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