When I trade I don't play mirco pennies and illiquid stocks. As long the volume is increasing and higher than the average 5d, i will place it in my shortlist. No charting systems can predict direction of illiquid stocks until volume starts to build. I rather let the stock run and generate volume then I start looking at it.
I have never attended any TA courses and is unlikely to do so unless it's free. No doubts in my earlier days I have been tempted to fast track my learning processes to want to take the short cut.
TA will teach you the methods, the charting, the money management etc, but my mantra in life has always been...what is it in life that they can teach you that books cannot.. At the end of the day is still how you handle your emotion and decision making when the market is going against the trend.
I spend my working hours, my after work hours to read and search for materials on the internet. All I can say is that the amount of information out there is enormous. You want ebooks or pdf it is there. You want audiovisual materials it is also there. Youtube has many vids, investopedia, stockcharts are good to begin with
Slow and steady bro, the school of hard knocks.
Mr Market is 100% right. There is no better teacher than Mr Market
And Mr Market is your best teacher
You will probably spend some money to pay for tuition fees to Mr Market though
No Loss no Gain. Treat trading as a business and not a game or gamble.
What u read, u must put into practice.
The best qualification is given by Mr Market.
im going to share some of my thoughts, some of the articles that i came across and also some advise given by some of the old time traders that i have fortunately get to know and talk to yet see how they trade, which has helped me shape the way i approach the market now.
i hope as you guy broker, we can share and you people be better than me.
Come next year, i will resume my own trading, hope within these few months you guys can learn as much from me as possible and start trading under my account.
Those who learned from me but trade with other brokers, i will be quite disappointed to be honest with you and hope my hardwork will be rewarded by you guys as we huat together next year.
For those TA fanatics
What to cover in your self study, what is the breath you need to cover?
Basic concepts – trend, correction, congestion, support, resistance
Bollinger Bands
Candlestick Charting
Cycles
Directional Movement Index
Dow Theory
Elliot Wave Theory
Fibonacci Expansion & Retracement Projections
Ichimoku Kinko Hyo
Momentum
Moving Average
Moving Average Convergence Divergence (MACD)
Money & Risk Management
Parabolic
Price patterns – Continuation & Reversal
Relative Strength Index
Stochastics
Trading psychology
Trendlines, speed lines, trend channel
Trade with TA and invest with FA
Never trade on hope dispensed by sorcerer and sell on fears created by doomsayers
Listen only to Mr Market and onli Mr Market is always right, so every time, when Mr Market closes shop at 5.10pm, i have no idea what will happen the next day, only until when i see the opening prices and the market depth, will i be able to know what MIGHT going to happen next!
So it is inrelevant to discuss anything until we know how DJI closed at 5am and when we see the pre market at 0830hrs.
So after 5.10pm, please clear your mind, do whatever things you want, and not think about it, no amount of engineering will prevent any losses if you refuse to cut loss.
REMEMBER:
Nobody can buy at the lowest and sell at the highest.
Buy low sell high, buy high sell higher.
