TRADING FOR INCOME: Question #5 Do I Need To Use Technical Analysis?

TRADING FOR INCOME: Question #5 Do I Need To Use Technical Analysis?

I think technical analysis has become a bigger deal in the trading industry than it needs to be. Especially when it comes to trading Options. Do you really need 8 moving averages, 6 momentum indicators, 7 volume indicators, 15 different trend lines, 20 different levels of support or resistance, and so on? Absolutely NOT!

While technical analysis can be helpful, it’s better that you use it in moderation. That cheesy cliché that you hear in the trading world – “Analysis Paralysis” – it’s a real thing! You can literally analyze your charts to the point that you’re too paralyzed to trade. Why? Because you have 5 indicators saying the stock will go up, 5 showing that it will go down, another 5 saying that it will move sideways, and still another 5 indicators with inconclusive results. How are you supposed to trade like that?

I’ve actually found that one of the best ways to trade is by using technical analysis, but without looking at your charts at all. This allows you to make strategic, data driven decisions instead of decisions based on your gut feeling.

So how do you trade without looking at the charts? We use a process that I’ve developed called “Insight Trading”. All of the technical analysis involved is automatically combined to calculate a win rate for the strategies we trade. That win rate that’s calculated is our “insight”… and that’s literally all of the technical analysis that we need to trade highly successful and profitable trade strategies. The higher the win rate, the higher the chance of profiting on that trade.

Wanna learn more about how we use our Insight Trading process for super simple technical analysis (…without even having to look at our charts)? Check it out  –

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