Technology was supposed to make life simpler, but as Alvin Toffler warned in 1970, in his prophetic novel "Future Shock", rapid technological change has made life even more complicated and increasingly stressful. After having stared at my 10 chart workspace, replete with a varied sampling of custom indicators, I remembered a quote from Mark Twain. “Civilization is the limitless multiplication of unnecessary necessities.” I realized that in my quest for the perfect workspace, I had inadvertently overwhelmed myself with too much information. The immediate corollary of my actions had left me feeling disoriented and disconnected from the markets.
There is an abundance of information in the public domain, and a multitude of brilliant people whom never cease to amaze me with their knowledge and experience. Collectively utilizing their ideas, I devised an integrated system comprised of traditional candle charts, Market Profile, Market Delta, DeMark indicators, Fibonacci confluence zones, VWAP/SD, and various indicators and chart formats, in search of the “perfect” workspace. After having weeded out, the charts and indicators I felt were ineffective, I was left with what I believed was necessary to keep me on a level playing field with other traders.
While I do utilize every chart in my workspace, they do detract from what should be a visceral experience, so in this case-more may be less. There has been much debate as to the importance and potential benefits of “keeping it simple”, and the competence to objectively analyze price action, and it is my belief that this arcane ability is perhaps the “key to the kingdom”, and the quintessential prerequisite for trading success.
Too much emphasis and reliance has been placed on what is perceived as being technically necessary, rather than concentrating on the art of observation and perception and objective analysis of market behavior and price action. Sometimes less, really is more.
However, while simplicity may be easy to attain, it is much harder to maintain, because the temptation is always there to try to do more. Therefore, simplicity is not an end state, but a dynamic goal. That being said, the time may have come, for simplicity to come full circle from near obsolescence to absolute necessity.
However, while simplicity may be easy to attain, it is much harder to maintain, because the temptation is always there to try to do more. Therefore, simplicity is not an end state, but a dynamic goal. That being said, the time may have come, for simplicity to come full circle from near obsolescence to absolute necessity.
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