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Chapter 4. The Basics of Technical Analysis > Chapter 4 Major Learning Points

Chapter 4 Major Learning Points

I cannot stress more strongly about the need to delve further into the realms of Technical Analysis for you to improve your trading consistency. I once heard someone say that the best options strategy was getting the market/security direction (or lack of it) right! Well, that’s only partly true, but let’s face it, if you get the direction badly wrong and don’t act appropriately when you’ve made that error, there’ll nearly always be a problem. We want to concentrate on improving your chances of success. This takes work, so don’t be fooled. The beauty is that this is such a compelling and fascinating area, I consider it more of a hobby than work.

Many speculators take a fleeting interest in the hard work side to investing and trading stocks and commodities. This makes it no better than guesswork or gambling. What we’ve shown you here is just a start. Many Technical Analysts use different indicators and chart patterns to varying degrees of success. While you don’t have to be a Nobel Prize mathematician to trade successfully, most of the successful technical traders do have a deep understanding of the indicators they follow. That’s what I want you to start to develop too.


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