How to do technical analysis for stocks?

I started investing in stock market about 20 years ago. Initially subscribing to IPOs. I had not have luck with IPOs. All of them ended with money losing deal, even though I held on to them for a few years. So, I concluded that the IPOs in Singapore market is over priced.

Then I started to read analyst reports on stocks and invest in companies (typically blue chips). Not much profit but good dividends during the good years. Then, came the financial crises. I went on to buy blue chip companies during crises and I held them over the years and sold of a about 120% gain over 5 years on average.

Due to some distraction, I stayed away from the market during this crisis and missed the opportunity to buy during the lows.

Recently (few months ago), I had been doing some stock trading and currency trading using technical analysis method for more than a year. So far, I had tried many different technical analysis using different indicators (Moving averages, MACD, RMO, Fibonacci, Stochastics, RSI etc). I had even do my own research and programming to come up with new indicators and "expert systems". For almost all of them, they only serve certain scenarios. None of the technical analysis methods could work in all situations. Most of them only worked for a limited scenarios. This is dangerous when you hit the wrong one. Your loses could out weigh your gains.

However, I discovered that each of the method or indicators applies to certain scenarios and certain stock counters better than others. So, it is important to classify the counters for different method of analysis or only focus on certain group of counters if you want to use certain method.

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