FOREX QUANT

November 6, 2007

Chart Analysis Excitement

Filed under: Uncategorized — by TraderMade @ 5:27 am
Tags: ,

From my observation so far, traders who really love to show the screen shot of their wonderful charts with all those exotic indicators and lines and curves and all, are traders who would not feel comfortable for others to see their actual trading result. Some kind of a negative correlation there between the two things. lol.

Successful traders don’t spend times drawing exotic pictures off their chart. They have a system/method, and always is a simple method. Often they even get very bored to execute their own system by themselves, then they start to delegate the execution of their simple method. At that stage, paying programmers to automate it would be much cheaper than paying traders to execute the (boring) system.

Traders may have their own method, including all the analysis mumbo-jumbo. Yeah, they said that whatever works should be okay. Each traders have their own way. But from my experience, that is not the truth.

Look at the chart posted above. I can be 99% sure that the trader doesn’t want his trading result to be seen by others. But he is so proud of his painting. Yeah, he better buy some paints, brushes, and canvasses and maybe start to set up an art gallery/museum. lol. I mean, look at the chart. It’s so colorfull, so live (lol), even when I zoomed in the chart I felt a litle bit difficult to find out the candles. lol. I was so amazed. lol.

So, another hint here: if a trader still feel excited doing his daily analysis on his charts, using his amazing imagination on each of his analysis, or discussing the fundamental stuffs with his fellow traders in trading forums/chat rooms, perhaps he should take a look at his trading statement to bring him back down to earth and start to realize that it’s not the way to be profitable.

(*)

1 Comment »

  1. It’s a nice drawing though..lol. I do some analysis too. I like it. And sometimes I just change the color of the candles or the background. And yes, I haven’t find the way to be profitable by making analysis. Of course there are conclusion from each analysis, but it doesn’t give me any profit.Nice post. I think every chartist should read it:)

    Comment by minyu2fx — January 6, 2008 @ 1:17 am |Reply


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