What are the top 5 skills for a Technical Analysis career?

A technical analyst must be versatile and skilled in chart reading, interpretation and execution. The price data represented on the chart is meant to be understood by a special skill in price action which a TA must understand. Chart patterns, candlesticks formations, orderflow, liquidity concept, supply and demand, accumulation phase. Stop runs, break of market structures, market stations, psychological zones and other technical concepts must be we understood by a technical analyst.

The mathematical/technical indicators are to help smoothens the price chart to make it easier for an analyst to filter the noises on the chart. Understand the particular indicator, how to interpret it, method of calculation that determine its movement and risk management that works with such indicator. Determine which indicator is meant for trend direction, volume analysis, momentum gauge and so on. This will give you a dashing command on these indicators, this is a vital skill of a technical analyst as well.

El gran problema de los indicadores es que practicamente todos tienen un retraso, se basan en distintas medias matematicas eso hara que entres tarde, dependiendo del tiempo es letal para tu riesgo/beneficio. Además de las divergencias que pueden ser dobles y triples, cogeras el tren equivocado la mayoria de veces.

I think if you can protect yourself at all times, it makes it harder for you to gas out to early in your career. Some people experience massive losses they never recover from mentally and emotionally so its very important to have great risk management solutions in place. We are marathon runners not sprinters.

Risk management is on top of the list because without it, everything else is unnecessary. Technical analyst should understand how to determine his stop loss in % calculation in relation to the account size. - What risk-reward ratio is targeted for each position. - Everything about position sizing. - How to mitigate losses - How to handle drawdown - What psychological need is important to build resilience in a losing streaks. These are special levels of risk management skill that a technical analyst MUST have.

Psychology carries highest percentage of what determines a technical analyst longevity in the market. Your world view will affect your overall view about everything else. How you handle psychology in TA matters alot as that has more to do with your result and bias in the market. The borderline of successful and struggling technical analysts is not always marked in level of skillset but in psychology. A weak psychology will frustrate a strong skillset and vice versa. Psychology is the most powerful fiber to behold as a technical analyst in this context.

Communication is key and all of the values in a technical analyst can not reside inside of him and expect impacting others to grow. He must find a platform, create a niche, know his audience and deliberately choose the mode of communication, which ever he chooses, effective communication is the goal here. Attend events and gathering that fosters collaboration and partnership to communicate credibility in your expertise. Learn and teach as you grow, embrace feedbacks and improve on your delivery and presentation. This is where to go!

The top 5 essential skills for a Technical Analysis career are crucial for successful trading decisions. Chart Reading forms the foundation by interpreting price charts for trade points. Indicator Knowledge provides deeper market insights through tools like moving averages and RSI. Risk Management is vital to safeguard capital due to analysis's imperfect prediction nature. Understanding Market Psychology aids in predicting market reactions based on emotions. Effective Communication is key to conveying technical concepts. Additionally, strong analytical, problem-solving skills, adaptability to market changes, and staying updated are crucial for aspiring technical analysts.