To expand
It's cool that I can post a day's diary page and still keep on writing the next day's right away, since it just saves as a draft and I can keep going tomorrow.
Properly combining FA & TA
The strength of FA in relation to TA is that it lets one know if an asset is has reasons to appreciate in valuation, by comparing its qualities against its competition. It is important to know how the asset stands among the rest of the market, as it gives us context and adjusts our perception to the masses' expected standards.
The strength of TA in relation to FA is timing. Being early can be tragic in regards to one's risk tolerance, and being late can be tragic in regards to one's ROI and risk of reversals resulting in serious drawdown.
[Learn the coin, pick the best (least worse) and then chart (saves time on charting pointless coins)]
Charting S/R and time cycles
Support/Resistance are zones of high liquidity and high swing potential. Because they're zones their true form should be a range bounded by two price limits, but which price exactly? You're better off representing S/R as a horizontal line which is assumed to have a sort of magnetic force; thus price action can approach it and reverse before touching it, or touch it and even cross it before reversing. It'd probably be fun to formulate price action in terms of physics.
Anyways, when charting S/R the horizontal line should have a balance between swings that happen beyond and before it.
Another tip for S/R charting: (1) Start with the ATH, then the ATL. (2) Identify an S/R level somewhere in the middle between the two previous levels, drag the line around until it looks right. (3) Repeat for levels in the middle of two previously identified levels. Now, I'd say to rinse and repeat if it wasn't for S/R charting to be a less-is-more scenario. The end result is a maximum of 5 significant price levels.
In regards to time cycles, I'm having success in charting them by picking two significant price dips as my interval. It will take some trial-and-error curve fitting, but the end result is a chart that's divided by lines where, as you approach them, you can expect important price action to happen. In a way the vertical lines of the time cycle intervals have the same 'as-it-approaches' effect of S/R.
The edge of innovation
Having a personal theory, style, modus operandi, and/or technique gives one more worth by virtue of having information that others don't.
If you, left to your own devices and with minimal outsider influence, come up with a system of understanding something, that system should be taken with high regard and preserved, only to be modified in order to make it more rigorous and thus strengthening it. My reasoning for this is that such a personal system is the best fit for the specific way your brain is wired. But our brains are very similar, only differing in minute details, and though these details make heavy differences it's still true that there's objectively limited variation, therefore it makes sense that other existing systems can be looked at, if only just to extract from them their biggest strengths and using them to our personal system's benefit.
[...]
Risk mitigation strategy
[Letting the market prop you into profit, focusing mostly on just managing risk. Market capitalization increase nets your profits, risk mitigation takes profits and cuts losses. A slow but secure way of trading]


Congratulations @my-diary! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP