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Hereâs how I guide new traders to master this balance:
1. Understand the Market Story ð: Always start by asking, *whatâs driving the market?* News, trends, and overall sentiment shape the big picture. Align yourself with this narrative before diving into the numbers.
2. Use Numbers to Confirm ð: Once you grasp the story, look to price action, key levels, and volume. Numbers should either back up the narrative or warn you of potential shiftsâlet them validate what youâre seeing.
3. Stay Adaptable ð: The market can flip in an instant, so always be ready to adjust. If the narrative shifts, check if the numbers still align. Donât be stuck on one sideâflexibility is crucial!
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I have had certain experiences where the technicals were very average but a change in key personnel of the firm like change in CEO has taken the stock upwards.
So you need to eliminate bias of your own knowledge.
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Quantitative data tells us what had happened to the price movement, eg. price trend, momentum indicator, volume analysis, etc.
Qualitative data tells us the news-event that had happened, and/or the investor psychology behind it, that may likely affect the price movement going forward.
personally, I would use Qualitative data to sniff out catalysts that may impact the share price. then I would use quantitative data to guide me on the trend, the general direction of the share price movement which may potentially help me in seeking out a good trade plan. A good trade plan should include entry level, stop loss level, profit level, etc.