LNG Trading/Charting discussions, page-213

Any charting sofware is ok. Even some of the free stuff that comes with the brokers. You dont need anything to complicated. Simple is always best. As long as you can see support and resistance, price action. You can learn a lot from that alone. I have developed my own unique trading strategy over more than 15 years. But that is private. But a lot of what i do, you can get from basic commercial software anyhow. That all said. Charts are not an exact science. People see different patterns depending on our psychology. However they still give us a basic indication on what people are thinking and doing now. Not years out. If you are looking at 5 or 10 years time frame, then charts are not for you. If you are looking at hours, days or weeks at tops, like I do. Then charts are the only way. I am looking at short term price action through volatility. And when i find a pattern that fits my criteria i jump on board. Regardless if the brokers are saying the opposite to what my charts are telling me. When i am wrong. I try and cut my losses quick. I do on occasions break my own rules. But thankfully not often. Like i did when i shorted LNG for a $1 loss some time back. I decided to stay in that trade. Rather than get out when my charts were telling me to for a small profit.
Since then i have made it all back and more on numerous LNG winning. But i certainly did learn a lot from it. And you learn the most from your losses and not your wins. And i do lose. You also have to remember that Cheniere is not LNG and vise versa. Never compare two stocks and put them into the same category. Even if they do the same thing and in the same sector. I always treat each stock as an individual and not a collective. I can be short stock 1 in sector A and long stock 2 in the same sector.