The technical trader ideology

"Preventing and controlling losses is more important than outright profit seeking to practically every technical trader you meet. The technical analysis approach is demonstrably more risk averse than the value-investing approach. To embrace technical analysis is to embrace a way of thinking that's always sensitive to risk. Technical trading means to trade with a plan that identifies the potential gain and the potential loss of every trade ahead of time. The technical trader devises rules for dealing with price developments as they occur in order to realize the plan. In fact, you select your technical tools specifically to match your trading style with your sensitivity to risk."