Technical Analysis Course On Chartists The chartist can either take a technical analysis course or they can learn by their own studying . The argument used by the chartist is "follow the other fellow... He probably knows more about the fundamentals than I do." The tenet followed by the chartists is "the trend goes on until it ends." Many chartists try predicting a move in the trends. Chartists are famous for making spectacular profits one week and then big losses in another week . The chartist is always concerned with his ability to recognize arrivals of trend reversals or an area of congestion. A chartist is happy as long as trends continue on. 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 quite the characters . The wiggle waggles get him off . What usually happens to the chartist is that they can't see the forest because of all the trees. And, the chartist's bag of tools is never overfilled until the end when all the information and the systems end up blocking their thinking. He stares in blank, hypnotic, unreceptively for hours on end at the chart , not realizing what the chart is saying . The big problem they have is that he/she looks towards the charts to tell him what prices are doing , instead of letting the charts know what he requires . A suggestion to use: When chartists come out of the fog , they need to take time and write down the request from their chart . A chart is nothing more than information and facts on computer , 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, only with a preprogrammed trading plan can this be done. The very first requirement a chartist has is that he has a plan for trading and extrapolates from the chart a criteria which is palatable to his plan . Going with the investment of a technical analysis course is excellent advice. Chartists that are successful are * a) not as likely to take a position that is long * b) they are more likely to close out positions before receiving a margin call . * c) less likely to put up additional margin if they do receive a margin call * d) tend to trade in various commodities and pyramid profits. The unsuccessful chartist * a) is likely to let losses run and cut short profits * b) more likely to be long than to be short * c) has a clear tendency to buy on days of price declines and to sell on price rises . This action indicates that these chartists are predominantly price level traders . There is no track record possible on chart readers in general , but on a specific chartist a track record is possible . Until chart readers allow themselves to be subject to some type of track record , you can't take the claims they make seriously. The "head and shoulder" formation would be doubted by few . Of course, the continuation of one will be the reversal signal of another. More often than not , if a chartist is correct usually the decisions he made in the market were merely luck . The trader becomes even more aware that technical analysis course aptitude doesn't mean their trading will be competent . Chartists
who lose money do this not always because their analysis was bad but because of the inability to transform their analysis into sound practice . Getting over the gap that is between action and analysis means they have to eliminate the threats of hope, fear, and greed. This means they need to keep impatience controlled and abandoning a sound method for a new one, especially during time of temporary adversity . Author:
Charles Drummond is a Canadian trader who has written nine books about trading and has created a technical analysis course called “Drummond Geometry.” His biography and further information about his work can be found at the technical analysis course website.