Picking the Next Direction
Even though we know we can never consistently pick the next direction of an underlying stock's movement, we can use some basic technical analysis to help figure out where the stock may NOT go in the future, which is sometimes more important than figuring out where the stock MIGHT go. In today's video tutorial I’ll show you my 3 favorite technical analysis indicators: MACD, RSI Stochastics, and CCI. Plus, I'll show you how I have customized each to fit our personal trading philosophy. Beware though, technical analysis can lead you down the path of "analysis paralysis" if you use too many indicators. I always suggest that you focus on learning 2-4 indicators and sticking with those for the long-haul.