FoundationsMAD Academy0:45Charting

Fewer Lines, Drawn Earlier

Drawing tools are for recording a decision before the move, and a chart covered in lines is a chart nobody can read.

0:45 · 6 scenes

This lesson is part of a MAD Academy plan.

What the Lesson Covers

  1. 0:00A chart covered in twenty lines is not analysis. It is decoration.
  2. 0:05The tools worth using. Horizontal levels, trendlines and a measuring tool cover almost everything.
  3. 0:14Why horizontal beats diagonal. A horizontal level is a real price. A diagonal one depends on where you started it.
  4. 0:23The discipline. A line drawn before the move is a prediction. Drawn after, it is a description.
  5. 0:32The cleanup rule. Delete a line the moment it is invalidated, or the chart stops meaning anything.
  6. 0:40Draw fewer, draw earlier, and delete what failed.
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Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Fewer Lines, Drawn Earlier — MAD Academy Training Video · MadStockAlerts