A Technical analyst is an expert who gives professional advice. A gold dealer predicting the price movement of gold with the aid of charts, trends, prices and other indicators is a technical analyst. Also, a stockbroker who offers advice on shares to either buy or sell is a technical analyst.
Even a forex trader making use of candle sticks to predict price movement is a technical analyst. In fact, a technical analyst is anyone who has had a fairly success in predicting the prices of commodities.
There are some technical analysis functions that will require you to acquire some formal education while some does not need any formal education before you can become a technical analyst. Financial analysts for instance need some kind of professional qualifications before he or she is allowed to parade him or her self as a financial (technical) analyst.
Note that predictions of technical analysts are not perfect as they are not prophets or sorcerers. All they do is make predictions based on empirical evidence. This is to say that information coming from technical analysts still needs to be censored before one uses it. Other non technical factors need to be properly evaluated so as to make high quality economic decisions.
BENEFITS OF BECOMING A TECHNICAL ANALYST
Trade successfully: armed with the ability to analyse raw data and make prediction from it, you don’t go hungry anymore as you can even borrow money and trade profitably. Buying commodity with another person’s money is known as short selling. You can even undertake to trade for third parties.
Consultancy services: information is the most valuable and most sought after commodity in the market today. People are ready to get information at any cost provided it will give them value for their money. As a technical analyst, you can sell signals to aspiring commodity traders like gold traders or currency traders. I have made a lot of money giving people signals of gold and shares (common stocks).
Respect: the respect that people will accord you just by knowing that you are a technical analyst. I brag whenever I am being called upon as a technical analyst to give talk in seminars. You too can be highly respected and connected. You may get opportunity to be in economic or other technical summit board of your region.
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