Technical Forecasting

My mentor says to be a successful trader, one has to be well equipped in 3 major aspects - technical, psychology, and risk management.

Technical analysis and forecasting are something that one can learn, through books, teachings, lectures, etc. The same is true for risk management. There are theories to be learned, and it's up to one to apply what he had learned. The biggest obstacle is always the psychology part. It can only be learned through one's own journey and experience - trips and tumbles, though advices and sharing from others can help to reduce the steepness of the learning curve.

Yes, these are all right.

But I was wrong in thinking the technical part is not too difficult, or rather just a small part out of the three.

Last week, I was amazed by how accurate others could forecast the price action, almost to the pip-accurate precision.

I know I'm still an infant in this Live! world. Like my mentor said, I'm only a first week student in a degree course, why am I thinking to write a graduate thesis already? There are so much to grasp and observe. I'm glad I'm not alone on this journey, that I can learn this field with my trading buddies and mentor. With the availability of opportunities and information around, it's really up to one's desire to decide how much he wants to learn, and at what pace. Of course, talents always play some part in.

Pat on my own shoulders and say, jia you!