I wanted to share with you Part 3 of my Setting Up Custom Charts video series. This is where you learn how to setup the actual technical analysis systems and indicators to use inside your charts and to help in your trading decisions. When you spend the time to properly setup your charting preferences in your brokerage account (or charting software) it will be very beneficial in your long-term trading success. Having properly setup custom charts will aid in creating your “custom trading system” and will help you be a more consistent and structured trader.
There is no reason to go out into the shark-infested waters of the Stock Market without the proper tools and navigation you need to withstand even the most difficult of times. Alot of successful traders use things like: Stochastics, MACD, CCI, Bollinger Bands, Moving Averages, VooDoo Lines etc. Using technical analysis in your trading will make you a a more confident trader and help remove emotion in making your trading decisions. Follow a plan and the results will come.
Below is a 10-minute video on the process I use to setup Stochastics and the DMI for my trading business.
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