Practicing Technical Analysis
If you’ve ever watched the TV show House, you’ve no doubt seen the main character Dr. Gregory House assert his opinions and act on them. He’s an extremely good doctor (at least he plays one on TV 
), but he sure isn’t always right. What I find so interesting is that he’s actually wrong quite often, and yet he saves the lives of his patients/actors.
Dr. House practices medicine. Sometimes he’s right and sometimes he makes mistakes, but he’s always working toward a solution and willing to try multiple methods if necessary to get there. The key is how closely he pays attention to the results he gets. Making a decision is one thing, but setting the ego aside with a willingness to modify the game plan is of utmost importance when striving toward a goal.
Should we be any different as traders? No way. I think as traders, and in particular those of us who use technical analysis, must take the same approach of making decisions, evaluating our results, and then modifying our approach as needed. Our objective is to turn a profit, and there are many ways to accomplish that.
Simply attempting to turn a profit in the market requires that we make choices and accept some level of risk, but that’s only the first portion of the plan. Once that step is completed, it’s time to monitor and evaluate how well our decisions are paying off. When things are progressing as anticipated, we simply have to stick with the plan and patiently let it play out. However, when we aren’t seeing the results we’re seeking, a willingness to go back to the drawing board is a requirement if we want to continue making forward progress.
Technical Analysis is by some considered to be hocus-pocus, but what’s so funny is that technicians will often give fundamentals a similar lack of credit. I view technical analysis as an interpretation of where supply and demand are concentrated, but it is not always an exact science.
A doctor will ‘practice’ medicine, interpreting symptoms to determine the best course of treatment in seek of a cure. Over time, new discoveries are made, experience is gained, and an open minded physician may alter their treatment habits as a result.
The technical trader operates in a similar way. The best methods for gauging momentum can evolve over time, and certain chart patterns which worked well a few years ago may not be yielding similar results right now. A breakout trader might need to start entering more trades on pullbacks to support if the market conditions warrant that. Certain technical aspects may deserve more attention than they used to if the trading environment suddenly changes, and the astute technician will know that if he’s doing his homework. After all, the market is always changing.
Become a student of the market. Commit to closely observing the results you’re getting, and be consistent in your approach long enough to decipher what’s working and what isn’t. Keep an open mind to what elements of your method might need adjusting, and remember that technical analysis is an ongoing practice. Mix it up when you know you should, and stay attentive to what your trades are telling you.
Trade well out there!
Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com
Technorati Tags: Stock Market, Day Trading, Stock Trading, Investing, Swing Trading
[…] supply demand Posted on April 8, 2008, 8:08 pmby admin best video: physician supply demandpillow, he gets louder still. Finally, agitated, you shake him and demand that he stop snoring. Theproblem is that he can't justMore video:foruser(); fivearea com speed test2008 social security benefit increaserencollection comtwo moles of chlorine gas at 20 0c are heated to 350 c while the volume is kept constant the densitycongress networkgoingnowhere tampabay rr commetro rcwww freepasstofun canursing home locatorguide dogs for the blindminn kota motorsmartha stewart weddingwireless speaker kitporn sex clips1040 estimate formUnited States: Government Spotlight Shifts To Physicians … - Mondaq News Alerts subscription… "I&39ve dealt with the supply issue, now I need to deal with the demand issue" related to physicians&39 financial relationships with device makers. …http://www.mondaq.com/article.asp?articleid=59152Raw Milk in Massachusetts ?Boston Globe, 3/23/08: ?http://www.boston.com/bostonglobe/magazine/articles/2008/03/23/got_raw_milk?mode=PF VALERIE WALBEK IS A 28-YEAR-OLD NURSE practitioner at a Falmouth clinic who gives all her pregnant patients the same advice: Eat four daily sehttp://projectdisaster.com/?p=7431Massachusetts lacking doctors The State AMHERST, Mass. ?? Once they discover that she is Dr. Kate, the supplicants line up to approach at dinner parties and ballet recitals. Surely, they suggest to Dr. Katherine J. Atkinson, a family physician here, she might find a way to move them up her lhttp://www.thestate.com/nation/story/366317.html Geriatrician Supply - Income Ratio Still Suffers in USAWho’s gonna treat your parents ? Not that I did not cover the fact that despite a looming demand, incomes for physicians specialized in Geriatrics has not lived up to the promise, but a new study published by the University of Cincinnati helped add more fhttp://mdsalaries.blogspot.com/2007/04/geriatrician-supply-income-ratio-still.html” rel=”dc:source” property=”dc:titleDemand spike will cause severe physician shortageThat urges us to take a look at the physician supply situation that has evolved and ask some probing questions about demand and physician supply. …http://www.physiciansnews.com/spotlight/304.htmlThe Future Supply and Demand for Physicians in MichiganFuture supply &amp demand for Physicians in MI. Page 1. Public Policy Associates, Incorporated … physician supply and to forecast the supply and demand for …http://www.msms.org/AM/Template.cfm?Section=Search§ion=News1&template=/CM/ContentDisplay.cfm&ContentFileID=1227Physician Supply and Demand: Projections to 2020Physician supply and Demand: Projections to 2020 … Printer-friendly Adobe/pdf physician supply & demand Report …http://www.bhpr.hrsa.gov/healthworkforce/reports/physiciansupplydemand/footnotes.htmCouncil Calls on White House to Convene Conference on Physician … - PR Newswire press releaseThe Council on physician and Nurse supply is an independent, multi-disciplinary group dedicated to studying trends in the demand for physicians and nurses …http://sev.prnewswire.com/health-care-hospitals/20080326/LAW02626032008-1.htmlSchool For New Medical Credentialers Developed by Edge-U-Cate Article provided by Edge-U-Cate, LLC of Colorado Springs, CO Negligent credentialing cases are on the rise. Demands for qualified credentialers are greater than the supply. What do these two statements have in common? Today, more than ever, healthcarhttp://msspnexus.blogs.com/mspblog/2008/03/edge-u-cate-ope.htmlPrimary-care doctors are in demand Seattle TimesOnce they discover that she is Dr. Kate, the supplicants line up to approach at dinner parties and ballet recitals. Surely, they suggest to…http://seattletimes.nwsource.com/html/health/2004330560_drshortage06.html?syndication=rss Geriatrician Supply - Income Ratio Still Suffers in USAWho’s gonna treat your parents ? Not that I did not cover the fact that despite a looming demand, incomes for physicians specialized in Geriatrics has not lived up to the promise, but a new study published by the University of Cincinnati helped add more fhttp://mdsalaries.blogspot.com/2007/04/geriatrician-supply-income-ratio-still.html” rel=”dc:source” property=”dc:titleWeighing the Evidence for Expanding Physician Supply — Cooper 141 …Physician supply and demand projections. physician supply from 1980 to 2000 …. An important consideration in the physician supply??demand equation is the …http://www.annals.org/cgi/content/full/141/9/705H-PRO Supply &amp Demand: physiciansto supply &amp demand next. Physicians diagnose patient disease and injuries. … market analysis indicates that the demand for physicians in 2008 will be high, …http://www.healthcarepersonnel.org/supply/physicians.htmBioMed Central Abstract Primary care physician supply and other …Primary care physician supply and other key determinants of health care utilisation: the case of Switzerland …http://www.biomedcentral.com/1472-6963/8/8/abstractChronically Ill Patients Get More Care, Less Quality, Says Latest … - EarthtimesThe supply of services creates its own demand, so regions with more resources have more usage and thus higher costs. The wide variations among academic …Extraordinary measures at life&39s end — at a price The Star-Ledger - NJ.comhttp://www.earthtimes.org/articles/show/chronically-ill-patients-get-more,341596.shtmlPossible NC endorsements for US Senate seatI am the state coordinator for Progressive Democrats of America here in NC - for the time being at least - I am stepping down next month. This year, we pursued obtaining an endorsement for a US Senate candidate by Progressive Democrats of America PDA. Phttp://dancewater.blogspot.com/2008/03/possible-nc-endorsements-for-us-senate.htmlNew Abbott KaletraR lopinavir/ritonavir Lower-Strength Tablet for Pediatric Use Approved in Europe PresseportalAbbott Park, Illinois ots/PRNewswire - - Lopinavir/ritonavir Tablet is the First and Only Co-Formulated Protease Inhibitor Tablet Approved for Use in Children with HIV Abbott announced today that it has received marketing authorization …http://www.presseportal.de/pm/21683/1167054/abbott_laboratories/rssIn Massachusetts, Universal Coverage Strains CareAn influx of newly insured patients is widening a gap between the supply of primary care physicians and the demand for their services.http://www.nytimes.com/2008/04/05/us/05doctors.html?ex=1365134400&en=689ce5030fba261b&ei=5124&partner=digg&exprod=digg” rel=”dc:source” property=”dc:titleBioMed Central Full text Primary care physician supply and …These factors together may influence professional activities of physicians working on a fee-for-service basis. Nevertheless, supply-induced demand cannot be …http://www.biomedcentral.com/1472-6963/8/8Ohio Physician Supply &amp Demand Consultation - Materials… about the physician supply &amp demand Consultation, contact: Deborah … physician supply &amp demand Consultation to the Ohio Board of Regents Final Report …http://regents.ohio.gov/psdc/materials.phpPhysician supply and demand: to recruit physicians in today’sPhysician supply and demand: to recruit physicians in today’s hot specialties, employers are being forced to open their minds as well as their …http://www.encyclopedia.com/doc/1G1-90794417.htmlEDITORIAL: Network matches health-care supply, demand - Plattsburgh Press RepublicanBut physicians continue to take a beating locally: They receive some of the worst reimbursements rates in the nation for services they provide, …http://www.pressrepublican.com/0201_editorials/local_story_078181511.htmlPracticing Technical Analysis If you??ve ever watched the TV show House, you??ve no doubt seen the main character Dr. Gregory House assert his opinions and act on them. He??s an extremely good doctor at least he plays one on TV , but he sure isn??t always right. What I find sohttp://www.thestockbandit.net/2008/03/25/practicing-technical-analysis/Pharmaceutical, Healthcare & Life Sciences MondaqOrthopedic surgeons who have watched from the sidelines as device manufacturers have struggled with government allegations and investigations may now find themselves directly in the field of play, according to a new initiative from the U.S. Attorney’s Offhttp://www.mondaq.com/article.asp?articleid=59152In Massachusetts, Universal Coverage Strains CareAn influx of newly insured patients is widening a gap between the supply of primary care physicians and the demand for their services.http://www.nytimes.com/2008/04/05/us/05doctors.html?ex=1365134400&en=689ce5030fba261b&ei=5124&partner=digg&exprod=digg” rel=”dc:source” property=”dc:titleBioMed Central Full text Primary care physician supply and …These factors together may influence professional activities of physicians working on a fee-for-service basis. Nevertheless, supply-induced demand cannot be …http://www.biomedcentral.com/1472-6963/8/8H-PRO Supply & Demand: physiciansPhysicians diagnose patient disease and injuries. They prescribe treatment and coordinate a plan of care for their patients, working with …http://www.healthcarepersonnel.org/supply/physicians.htmPhysician supply, supplier-induced demand and competition: empirical …Physician supply, supplier-induced demand and competition: empirical evidence from a single-payer system. - Galenicom…http://www.galenicom.com/en/medline/article/16846104/Physician+supply%2C+supplier-induced+demand+and+competition%3A+empirical+evidence+from+a+single-payer+system.Chronically Ill Patients Get More Care, Less Quality, Says Latest … - EarthtimesThe supply of services creates its own demand, so regions with more resources have more usage and thus higher costs. The wide variations among academic …Extraordinary measures at life&39s end — at a price The Star-Ledger - NJ.comhttp://www.earthtimes.org/articles/show/chronically-ill-patients-get-more,341596.shtmlIgnorance of the LawWhile directed primarily at civil litigators, particularly personal injury lawyers, two posts, here and here, have generated a small mountain of comment that all lawyers should read. No, not simply because they show the anger and hostility toward lawyershttp://blog.simplejustice.us/2008/04/01/ignorance-of-the-law.aspxUniversal Coverage Exacerbating ‘Imbalance’ Between Supply Of Physicians, Number Of Patients In Massachusetts Medical News TodayMassachusetts’ health insurance law has had the “unintended consequence” of exacerbating the “imbalance” between supply and demand for primary care physicians, the New York Times reports. Since the law took effect last year, about 340,000 of the state’s ehttp://www.medicalnewstoday.com/articles/103117.phpPerspective-Gauging Supply And Demand: The Challenging Quest To …Determining whether or not the country is. headed for a physician shortage depends, of. course, on forecasting the balance between. supply and demand. …http://content.healthaffairs.org/cgi/reprint/21/1/167.pdfPhysician Supply and Demand: Projections to 2020Printer-friendly physician supply &amp demand Report. Background. physician supply Model … there is less agreement on future demand for physician services. …http://bhpr.hrsa.gov/healthworkforce/reports/physiciansupplydemand/default.htmPhysician Supply and DistributionWhy does the government have the right to control physician supply and distribution?http://www.amsa.org/programs/gpit/physdist.cfmUnited States: Government Spotlight Shifts To Physicians … - Mondaq News Alerts subscription… "I&39ve dealt with the supply issue, now I need to deal with the demand issue" related to physicians&39 financial relationships with device makers. …http://www.mondaq.com/article.asp?articleid=59152The pH Miracle or The Fountain of YouthThe key to the pH Miracle or the Fountain of Youth is to maintain the alkaline design of your body with an alkalizing lifestyle, diet and nutritional program. There are four critical foods and seven critical nutrients that are vital to your health and wilhttp://articlesofhealth.blogspot.com/2008/03/ph-miracle-or-fountain-of-youth.htmlExtraordinary measures at life’s end — at a price The Star-LedgerNew Jersey hospitals, especially in urban areas, continue to give dying patients the most excessive care in the nation, according to an influential study that found no benefit to the extra care.http://www.nj.com/news/ledger/index.ssf?/base/news-13/120754487861560.xml&coll=1GUEST COMMENTARY: THE SUPPLY AND DEMAND OF PHYSICIANS, BY SIMON BIEBERGUEST COMMENTARY: THE supply AND demand OF PHYSICIANS, BY SIMON BIEBER. In recent months, there has been a movement towards reducing the number of foreign …http://www.visalaw.com/01jul3/17jul301.htmlhospital impact - Physician Supply and Demand - Another Waywhat will it take for hospitals to be the best run organization on the face of the planet? … what will it take for our hospitals to be the best run organizations on the face of …http://www.hospitalimpact.org/index.php/leadership/2006/09/10/physician_supply_and_demandPhysician Supply and Demand: Projections to 2020Physician supply and Demand: Projections to 2020 … Printer-friendly Adobe/pdf physician supply & demand Report …http://www.bhpr.hrsa.gov/healthworkforce/reports/physiciansupplydemand/footnotes.htm […]