By Alex Yeo
So you think you can make money just by drawing some lines, recognising chart patterns and memorising candlestick patterns?
Or you may think that Fundamental Analysis is too difficult. Reading and evaluating financial statements are too mind-boggling. Reading price charts would be much easier, so it should be easier to make money.
You are in for a rude shock.
I first got interested in technical analysis in 2011. I would devour books on candlesticks and memorise them. I was extremely hardworking. I thought by doing so, I would be able to trade profitably.
I bet you knew what happened. I lost money.
But I never gave up. I sought to read more books. I guessed I have read more than a hundred books on trading and technical analysis. I lost count of the time I spend surfing websites and forums. You know, I gobbled up everything. I was a learning machine.
But I still cannot make money after trading for nearly 4 years.
I wanted to give up.
I followed what was being taught in the books. I thought those advanced trading books on the shelves were the real deal. I thought that if I followed the …read more