Chartists can learn from 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.” The basic tenet of the chartist is “the trend goes on until it ends.” Most chartists attempt to anticipate a trend move . Chartists are famous for making spectacular profits one week and enormous losses the next . A chartist always tries to think about their capability to realize when a trend reversal or a congestion area is starting . A chartist is happy as long as trends continue on. In figuring out whether a trend is going to reverse , or there is a problem with a trend or the congestion area , then the chartist gets upset .
The chartist is quite a species . The wiggle waggles get him off . Usually what happens to chartists is that they can’t see the forest because of all the trees. And they never overfill their tool bag until that final moment when the noise of the information and systems clogs the channel of clear cogitation .
He looks on unreceptively and blankly for hours on end at the chart , not realizing what the chart is saying . His major fault here is that they continue watching charts to figure out what prices are doing, instead of letting the charts know what he requires .
A suggestion : After the chartist gets out of their state of fogginess, he must sit down and write on paper his/her written request from the chart . A chart is nothing more than information and facts on computer , and like you do with a computer, they must tell computers what they want it to let them know, and the criteria that is by , and, they can only do this with a trading plan that is preprogrammed . A trading plan is required by the chartist and extrapolates from the chart a criteria which is palatable to his plan . Deciding to invest in a good technical analysis course is sound advice .
Most successful chartists are
* a) less likely to take long positions
* b) are quite likely before receiving margin calls to close out a position .
* c) not as likely if they get a margin call to put up additional margins
* d) tend to trade in various commodities and pyramid profits.
The unsuccessful chartist
* a) has a clear tendency to cut their profits short while letting their losses run
* b) will usually be long rather than short
* c) often sell on days prices rise and purchase on days when prices decline. This action indicates that these chartists are predominantly price level traders .
Track records aren’t possible on general chartists, 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 , it is impossible to take their claims seriously . The “head and shoulder” formation would be doubted by few . Of course, the reversal signal of one will flag another to go on . Usually , if a chartist is vindicated usually luck was what caused his decisions to be correct. The trader is more painfully aware that technical analysis course competence does not insure competent trading . Chartists who lose money do so not always because of bad analysis but due to the fact they weren’t able to turn this into practice that was sound. Getting over the gap that is between action and analysis means they have to eliminate the threats of hope, fear, and greed. Impatience has to be controlled and abandoning a sound method for a new one, especially during time of temporary adversity .
