PDA

View Full Version : Charts



Street Authority
10-11-2014,
Just joined this forum hoping to understand charts and patterns from the gurus. Can someone be kind enough to help me get started on this journey step by step(a humble request). I know it will take a lot of time but I am willing to put effort and time into it. There are so many charts out there and I don't know which ones I should be looking at and how.

Thanks

BlaineTarr
10-11-2014,
I think it's much easier to watch videos instead of reading words.

Start by watching every free youtube video you can. Search for things like 'technical analysis stock', or without the word 'stock'. And 'stock fundamentals'.

technical analysis is basically reading charts. Fundamentals is basically news affecting stocks.


Then get a DVD(s), something like 'textbook trading' by investors underground which is well spoken of. It's a online streaming only DVD for like $500 or something if it's on sale, or you can get some DVDs off ebay and resell them. Get something modern since markets change. Many of the hardcopy DVDs are legal to basically watch, take notes, and resell for no loss and still keep the notes for reference. Probably contact the manufacturer and make sure about that. Avoid illegally ripped versions like the $500 DVD I mentioned being sold for like $3.99.

"There are so many charts out there and I don't know which ones I should be looking at and how."

When you get to that stage of finding potential plays on your own without reading an article about a company or getting a tip etc, you'll often use something to scan through all the many charts for you e.g a scanner. It filters out key indicators that make it a potential buy/short. Like if a stock jumps up in volume and price really quickly meaning that a lot of people bought it, it will show you that stock if you set the scanner to, and then you'll research why it spiked up. If it's too late to buy it at that point? if it jumped up for no good reason and is worth shorting? or if will lower from buyers taking profit,etc etc. Then there are like thousands of chart indicator plug ins like moving averages etc, reading SEC filings to see a company's real worth, reading news if that's why the stock jumped, etc. Takes a lot of learning, this is just a very basic outline.

Here's a sort of chart strategy this guy calls an F1 pattern:
<iframe width="500" height="300" src="//www.youtube.com/embed/oBOuUs7aKXU" frameborder="0" allowfullscreen></iframe>

Here's another seemingly simple pattern strategy, but nothing's simple.
<iframe width="500" height="300" src="//www.youtube.com/embed/oBOuUs7aKXU" frameborder="0" allowfullscreen></iframe>

BlaineTarr
10-11-2014,
May want to check out StockCharts.com Chart School.