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Technical Analysis Plain and Simple: Charting the Markets in Your Language, Third Edition by Michael N. Kahn - CMT

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21. OK, Now Do It!

Day traders and long-term investors have many differences resulting from their different time horizons (investment horizons). Technical analysis may tell the former to sell and the latter to buy, but the one thing they have in common is the act of trading. In order to execute their strategies, whether they are long- or short-term, each has to put their analysis into action. The simple act of “pulling the trigger” to trade is the final step.

The Questions

Once all charts have been marked up with trendlines, studies, and other technical tools, the technician needs to set the final criteria needed to trigger a trade. These factors include target price for a winner, stop price for a loser, and price at which ...

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