Why traders with the best technical analysis skills are not the best traders?
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On this week’s Ninja Trader Charting Edge, we have the E-mini Russell 2000(RTY) on a weekly chart to have that bigger picture perspective. As you can see now, we’ve been in a consolidation for many months. And I think we could be looking for a similar situation that we saw last November in the E-mini Russell 2000 — multi-week rally which they called the November to remember. Then we’ll go over a tweet and our main topic.
Why does a trader’s way of executing a trade matter more than having the best technical analysis skills?
Traders, technicals are just a tool. They don’t guarantee results. Average technical analysis skill with great execution is more profitable than great technical analysis skill with poor execution. It comes down to how you manage it. And how you execute that trade.
Final thoughts for today “Traders, you could do all the technical analysis you want. You can know exactly what you think is going to happen in a market. You can have great targets, but it really comes down to the execution. There’s so much that happens before a market gets to a potential target that it really comes down to you as a trader and how you execute. That’s why traders with the best technical analysis skills aren’t the best traders. The best traders are the ones who are the best executors of their strategy.”
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Develop Your Edge is a weekly YouTube show hosted by 22-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony and his guests discuss what they are doing to Develop Their Edge in trading futures! Past performance is no guarantee of future results.
