DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Tuesday, August 30, 2005
The Beauty of Technical Analysis in Day Trading
As day traders, we simply must rely on technical analysis for our trading decisions. Personally, I am a big believer in the theory that the price and volume action of a stock will tell you everything you need to know about the fundamentals, the news events or anything else that could possibly be effecting it. Here are a few reasons that technical analysis should become a huge part of your day trading strategy:
- Application to ANY and ALL markets/stocks: When I go to trade a stock, an index, a currency---anything!---I don't need to know what the company does, how the country's forgein policy might effect the bond markets, etc. The only thing I need to see is the chart. Show me how the money is flowing, how it's flowed in the past, and I'll tell you how I think it will flow in the future.
- Useful for any time frame: One of the best things about technical analysis is that it can work for a 2 minute trade or a 2 year trade. Simply set up your stock chart correctly and you will have the basis for a trade of any length of time you are looking for.
- It works!: Day Trading is about making money. Our Trading Systems have been using technical analysis successfully since our inception in 2000, and astute traders around the world have been using this approach to trading for profits for over a century.
DaytradeTeam's Day Trading Systems will help you become a more profitable day trader with access to our Live Trading Room--best of all, they are included in the DaytradeTeam all-inclusive Membership!
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