Master market analysis techniques to win in trading!! Scatreat Futa's Technical Dojo | Episode 2: Can technicals become a powerful weapon in trading!?

He rode the day-trading craze in stocks to become a full-time trader, but after a major defeat due to the subprime loan crisis, he retired once. Afterwards he discovered FX, spent two years as a part-time trader, and by the third year he became a full-time trader.

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※This article is a reprint/edit of an article from FX攻略.com, September 2020 issue. Please note that the market information in the text may differ from current market conditions.

Technical analysis is like a craftsman's tool

Hello everyone, I’m Scatrayuta. This time I would like to talk about why technical analysis is necessary.

I think of technical analysis as a “craftsman’s tool.” A craftsman uses “handy tools” and “things that increase efficiency” to create superb works. The same applies to trading: it is important to use handy tools and things that improve efficiency for entry and exit decisions.

So, what are handy tools and efficiency-boosting tools in trading? In my case, handy ones include “Bollinger Bands,” “moving averages,” and “oscillator indicators,” while efficiency-boosting ones include “renko candles” and “custom indicators I created.”