Streamline Your Technical Analysis

If you are looking at 6+ more technical indicators and use multiple technical analyses concepts against other technical analyses concepts, then you're probably doing yourself a disservice.

Simply learn and use the basics like MACD, support/resistance, trending channels, divergence/convergence, and moving averages.

4. Continue to Paper Trade

Just because you are trading real money it doesn't mean you need to stop learning and trying out different strategies. You have to continue playing the market from all angles. If you are a market conformist (you tend to go with the trend), you can try a contrarian strategy. If you usually close out credit spreads, try keeping one open while legging in an OTM put option.

Experiment and continue to tweak out your strategy

One great tip is to create 2 identical trades. One in your regular account and the other in your paper trading account at the same time. Then you can make experimental adjustments to your paper account over time and see how it fairs against the live account. This is a nifty way you can test different strategies while having a baseline.

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