Trading Simple Is Boring

I don’t know if I’m starting to understand it but the more simple I’ve been keeping my chart analysis, the easier it is for me to identify trade opportunities.  I’ve been so caught up with technical analysis using multiple indicators, trend lines, support and resistance, keltner channels, bollinger bands, andrew’s pitchfork and many more that I never stopped to think that none of these are going to do anything except make it harder for me to make a decision.  I have to realize that NOBODY knows where the price is going to go.  If you keep it simple though and follow your plan and money management principles, you can be successful. 

Like I said yesterday, I think developing a simple trading system that will generate buy and sell signals was a turning point for me.  If I follow this trading system, I think I can come out ahead in the long run.  The way for me to make a good income is to design multiple trading systems and automate the trading process of buying, selling, and exiting.  Multiple trading system will allow me to hedge my trades preventing the "all eggs in one basket."  That way if 1 trading system had a bad month, hopefully the others will balance it out. 

Trading this way is boring.  It requires a lot of watching and waiting.  Trading was more exciting when I was seeing constant changes in my plethera of indicators.  From what successful traders have stated, trading was meant to be boring.  That’s fine as long as I’m maintaining a steady stream of income. 

Popularity: 1% [?]