Today I saw one the most ridiculous charts Ive ever seen.
Have you ever seen a chart with so many lines and indicators and other random shit that you can't even see the price?
I wish I thought to screenshot it, it was truly comical
The guy defended his masterpiece saying that each and every one of those indicators and lines were absolutely critical for deciding to take the trade or not.
Calling bullshit on that.
I get wanting to have a sense of the big picture.
... but anything more than a few key pieces of information will just muddy the waters.
Maybe he's capable of keeping track of all that junk all at once.
But I know that I'm definitely not.
Like most of you, if I find myself in a strategy that's too muddy, I start drifting.
Finding myself in trades that I don't need, or want to be in...
Only noticing the bad decision after I've felt the pain of losing money.
So I keep it simple.
I make it easy for myself to stick to my strategy because I know firsthand what happens when you dont
Its not pretty.
Are you tired of these tea leaf charts?
You are right but partially.
Many of those charts are bullish but don't forget that every investor has its own opinion and conclusion about a chart movement. If the analysis is totally wrong then you are right. But if they rely on some facts then they have every right to spread and tell their opinion to the community.