There's a bunch I look at depending on the situation, but my main goto is Elliott wave analysis. Once you know this, every other indicator/technique will become a secondary tool. You can learn the fundamentals outlined by Prechter, but Bill William's methods are a must to verify your work. What sort of TA do you do?
As for getting past losses, once you have a firm trading discipline with rules and limits (stops, margin management), you'll be able to avoid getting into the really bad spots.
Two main things that helped me: don't over trade and don't trade against the trend (unless you are good at spotting reversal patterns). And knowing the trend is just basic moving average analysis on several timeframes.
I've heard about Elliott waves but I don't really know anything about it. Everytime I've looked at a chart using it, it seemed a lot more complex than what I was used to.
I mainly just use RSI, MACD, stochastics, and money flow index on hourly and daily charts but I also try and find things trading in a predictible range.
Yeah, I was over trading options before I really had a grasp of them and a few quick profits early on went to my head and then whoosh, huge loses. I don't even want to touch options for a really long time.
Now I'm just trying to trade the range of things I had already owned and see how that works out. I figure push come to shove, at worst I'll miss out on some profits if it breaks to the upside or if it ends up breaking to the downside, I'll be in at a better price had I just stayed put. But I'll set up stops too just incase.
