Technical Analysis is important, since short term market movements are all dependent on traders positions not Fundamentals. However Technical Indicators does not guarantee anything unless you are lucky and see trend continues. Almost all indicators are lagging by nature.

One of the truth that I rediscovered in my journey is, we need to make complex things as simple as possible. Technical setups do not make you money, rather flawless execution makes money in the market. The trade execution will become easier if you make the setup easy. It is always prudent to work with very few indicators and strategy. The hard work is not to learn new strategy or indicators every month. The hard work is to do the same boring stuff again and again till it become part of your life. The one or two strategy and very few indicators that you work on, should become part of your own life. You should know all the good and bad about them. The indicators should complement your style and trade psychology.

1. Learn a thing. 2. Back test. 3. Follow. Don't go for 1000 things at a time. More the setup is simple, better the accuracy.

Technical analysis is from two sides, price action and indicators. Choosing an indicator means; - You must have learnt its protocol of engagement, entry, exit, risk management. - You need to must have researched and backtest alot to evaluate chart data on the demo even though the guarantee of the outcome of live account may be different. - Be consistent with the one that suites your style.

Never underestimate the power of price & volume. First, master these 2 cardinal concepts & choose other indicators preferably not more than 2 at a time that suit your trading psyche.

As I said, Keep It Simple and Straight to the point. This is the deal. Profit making doesn't have to be complex for validation and meaningful. The simpler it is, the better you act in the market environment.

As valuable as technical analysis is, I do feel that it is a case of 'less is more' in terms of the number of indicators that one uses. I feel that the use of multiple times frames, across monthly, weekly and daily, for example, is more useful than relying on numerous specialized indicators. My preference is to focus on or two indicators only, whether it be a moving average, MACD convergence or stochastics, for example. Bollinger bands and ichimoku also warrant consideration. But the key is to pick one or two that resonate for you, rather than getting bogged down with 5 or 6 different indicators.

During my time working in software sales, I had an experience that perfectly shows the importance of applying the KISS principle. I was tasked with demonstrating a complex software product to a potential client. This software had multiple features that could easily overwhelm someone unfamiliar with it. As I prepared for the demo, I remembered the KISS principle. I decided to approach the demo as if I were a complete newcomer to the software. Instead of showcasing every feature and technical detail, I created a demo project with the most basic use case. I gave simple names to objects and attributes, avoiding technical terms that might confuse the client. By presenting it in a clear manner, I was able to communicate its value effectively.

Already, when you are in live market and about to trade, your heartbeat fluctuates. In that scenario, a person adds 7-8 indicators, draws so many supports and resistances. Whats gonna happen? Higher probabilities of closing trades in red! Trading is not about so many things to draw on charts, its about waiting waiting and waiting untill the setup finds a trader. The chart which a trader sees, is the same chart used by institutions. So better to keep as low as things possible on a chart to get a magical view os actually what’s happening. Draw major supports and resistances, see what candles are doing at that area and enter. Simple.

For a particular strategy use a maxium of 2 or 3 parameters and create precise strategy activation (entry) and exit points. This can then be easily back or forward tested along with clear target and stop loss.

Optimization of the strategy through backtesting is a great work that most indicator traders do not want to embark on because large part of them do not believe in longterm duration in their back testing. And the market behavior is dynamic and changes very quickly. Spend time in back testing, record your findings, keep journals, compare the backtest result to live outcome, if the variance is wide to negative parts, then something is not done rightly, if the variance is positive even as low as +10% it is still a great job done.

This is what people dont want to do! If a strategy worked 100%, woudnt that person be God in the market? The truth is, every strategy has an accuracy. Some have 80% some 90% and some just 50%. So better to backtest atleast 100 trades before claiming a strtegy to go with. Backtesting has two sides. 1. Backtesting the past data om charts. 2. Backtesting by doing live trades when the setup appears. Combine both and confidence starts to increase.

Multiple time frames are only necessary when a positional view is in the house. For example, swing trades. Some scripts may need a holding time for a week or two or more ofcourse if the view and confidence is there in the setup. For some who is a day trader, its not necessary to keep on looking at different time frames. It will only confuse more. For some one who wish to buy in cash and then sell when the targets are met, multiple time frames give a clear picture of what to do smd what not to.

TA generally convince traders to adopt the use of multiple time frames to see clearly where market pricing would be delivered based on short and long term perspective. That will help to know when to sit on your hands and when you should act. Spot an opportunity on higher time frame is encouraged and seeking entry on lower time frame is advised. Know what strategy that works for this paradigm. Be great.

This is one of the most overlooked and undervalued tool in technical analysis and trading. One should consider the open price, planned exit price, stop price, risk versus reward, fees, market conditions, market sentiment, your emotional state, the signal you used to take the trade and more. This forces accountability, and allows more detailed analysis of oneself, not just the market. I published a Crypto Trading Journal on Amazon for this very reason that comes with over 200 pages to track all the most important details surrounding each trade.

This is the essence of keeping journal as I had stated above, the outcome may never be the same but there is an interpretation of what significant change that has been recorded.

I think one of the most important thing for be a good trader is create a stronger mind. The psychology of a trade supported on great TA is the magic key. In my opinion it can't be separated.

I have stopped using any indicators long ago. Just going through the naked chart on different time frame is enough. Helps filter any other noise.