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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Old Mar 11, 2003, 4:30pm   #131
 
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FTSE Beater started this thread Hi NastyItch and all

I've been busy reading and researching over the last couple of weeks, so I haven't really had time to put anything together, which I must apologies for.

Is there anything in particular that people want me to talk about this week?

If not I'll do something on Indicators

Again, my deepest apologies
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Old Mar 11, 2003, 4:45pm   #132
 
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Hi FB

Glad to hear you are back, your deepest apologies are not necessary. What do they say about 'presence not presents' are more important (although presents should not be turned away)

Earlier in this thread I had answered Soldier and posed some questions I was hoping you would pick up on.

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?


Just a thought
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Old Mar 11, 2003, 5:11pm   #133
 
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Hi FB,

So far been a very informative thread on the basics, keep it up

Keeping in line with basic and perhaps a step onto TA a suggestion to explain a favourite of mine, Pivot Points, maybe worthwile. This could encorporate the knowledge base of your teaching on support and resistance with a method of trading. Another advantage would be that you could demonstrate the other aspects that you have covered, such as money management for example, relavent to this form of Sup&Res
Just a suggestion and seems a logical progresion if you were considering moving onto more complex indicators in the future
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Old Mar 11, 2003, 5:46pm   #134
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Quote:
Originally posted by techcherry
hi all
... sorry tbs? because finnally I am thinking really serious to get into a begginers course as well...
Hi tc.

BK, FB etc were referring to a beginners TA Course that I will be running on 10th May. Sharkey will be putting the details on the events list in the next day or so but if you require them before then, please contact me. tbs@theblindsquirrel.com
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Old Mar 11, 2003, 5:53pm   #135
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Quote:
Originally posted by NastyItch
Hi FB

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?


No matter what time frame you are trading over it is worth looking at the 10 year and 5 year charts on a weekly basis and the 1 & 2 year charts on a daily (or night before) basis. This should make sure that you at least know the major levels in the charts.

For actively trading intraday 1 minute bar (or candle if you prefer) charts - some also keep 3 and 15 minute charts running for reference.

For weekly/monthly trading 1 & 2 year charts.

HTH
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