The Basics of Trading

This is a discussion on The Basics of Trading within the First Steps forums, part of the Reception category; Hi NastyItch Well spotted on the H&S. At this point the H&S has pretty much run it's course and is ...

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Old Mar 3, 2003, 10:37pm   #121
 
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FTSE Beater started this thread Hi NastyItch

Well spotted on the H&S.

At this point the H&S has pretty much run it's course and is coming up to it's target.
This wouldn't signify a long at this point, as there is nothing to say that the price will go up from here.
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Old Mar 4, 2003, 9:44am   #122
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Hi FB,

Posted By FTSEBeater:
"This wouldn't signify a long at this point, as there is nothing to say that the price will go up from here."

If there is nothing to say that the price will go up why would you want to go Long ?


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Old Mar 4, 2003, 11:33am   #123
 
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Hi Soldier

Yes, that is exactly what I was getting at. The volumes do seem to confirm the H & S reversal with a target of around 255.
At this stage I am concentrating on learning to identify the trends, S & R and various patterns.

However ...

FB and Trader333

My next step would be to learn how to intepret the stuff mentioned above. So thanks for your comments. BUT...

If "there is nothing to say that the price will go up from here." then why go long (agreed), but likewise I don't see anything to say the price will continue to drop.

At this stage I am thinking, look at a longer timeframe chart. In the next post is a 3 year view which clearly still shows a downtrend. If I was asked what I would do, I would wait and see, although there may be a tendency to go short.

BIG QUESTION for the experienced folks out there.
If I were to do intraday trading what timeframe charts should I be looking at using?
What about trading on a weekly and a monthly basis?

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Old Mar 4, 2003, 11:38am   #124
 
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The 3 year chart
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Old Mar 10, 2003, 2:17pm   #125
 
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FTSEBeater,

Thank you for this thread, very informative.

I'm considering gong on the course run by TBS in May, I understand that you - as well as helen and a few others, have been on it, you even go so far as to mention it in your 'diary thing'.

I'm looking for a beginners course, reasonably priced - which this one seems to be - any comments?
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Old Mar 10, 2003, 3:07pm   #126
 
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FTSE Beater started this thread Hi BlackKnight.

This is going to be so hard for this to not sound like an advert.

TBS's course was second to none for a beginers course, and I can't recommend it highly enough. It put me on the right track from the start, and gave me plenty to work on, (it took me another 2 years to need another course for the next level).

I very worthwhile course IMHO

Click the image to open in full size.

PS: I have no connection to the course, only to say that I found it really useful.
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Old Mar 10, 2003, 3:25pm   #127
 
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Hi BK,

Since we don't condone advertising on T2W (unless it's paid for) I suggest you contact me off the board if you want my opinion
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Old Mar 10, 2003, 3:51pm   #128
 
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Hi Helen and FTSEBeater,

I have just spoken with TBS, apparently he is buying some space on here anyway, so I don't feel so bad mentioning it.

Thankyou
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Old Mar 11, 2003, 3:51pm   #129
 
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hi all
... sorry tbs? because finnally I am thinking really serious to get into a begginers course as well...
...And please forgive me ftse because of my ausence , but I had a few professional obligations which led me to be short of time, but I just been reading trough and looks like this threat is being very sucessffull , and by the way I am problems with the software(metastock) and getting the eod into it, so I still can not use any software to my t.a , I know there is proper threat for this, but anyway, does anyone can help?
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Old Mar 11, 2003, 4:24pm   #130
 
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Hi FB

Are we going to get back to the original idea of this thread

You've been rather quiet, and I suspect missed by many including myself.
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