Interactive Technical Analysis Education

[Nowler]

Hey folks

Does anyone know of any interactive software for practicing technical analysis?
Free is preferred but all suggestions welcome.

Thanks

 

[Quantt]

Hey folks

Does anyone know of any interactive software for practicing technical analysis?
Free is preferred but all suggestions welcome.

Thanks

Are you looking for a simulator? Think or Swim have the on demand feature, you can replay any day of the market back few years...

 

[Nowler]

Are you looking for a simulator? Think or Swim have the on demand feature, you can replay any day of the market back few years...

Hello my friend!

Not quite...i think...
What I am looking for is basically something like the course Brumby suggested to me (which is great!) in the last page or 2 of my journal, but interactive.

I have seen some things over the years, for example my first year psychology book.
It had a disk that I popped into my laptop and I could learn the content of the book via the interactive disk (and reading too of course).
I'm just looking for a better way to learn than to go the ye old route of reading painstakingly boring text only

Of course I will read, but we are in the technology age...it's about time education caught up

 

[Quantt]

Hello my friend!

Not quite...i think...
What I am looking for is basically something like the course Brumby suggested to me (which is great!) in the last page or 2 of my journal, but interactive.

I have seen some things over the years, for example my first year psychology book.
It had a disk that I popped into my laptop and I could learn the content of the book via the interactive disk (and reading too of course).
I'm just looking for a better way to learn than to go the ye old route of reading painstakingly boring text only

Of course I will read, but we are in the technology age...it's about time education caught up

I see what you are saying, just not sure that something like this exists, because I don't believe someone will publish a working winning strategy in any form...

So basically you are risking learning something that is fundamentally flawed, e.g. a strategy that is not working/ making money...

 

[Dowser]

Lots of charting software allows you to 'play back' old data, so you can watch patterns develop and instantly see the outcome.

 

[Nowler]

I see what you are saying, just not sure that something like this exists, because I don't believe someone will publish a working winning strategy in any form...

So basically you are risking learning something that is fundamentally flawed, e.g. a strategy that is not working/ making money...

I'm not looking for a strategy.
What I am looking for from such software is for example, exercises where I identify the levels where price has been most drawn toward...ie. drawing in support and resistance lines. Perhaps drawing in the strongest 3 levels...or something like that.

Perhaps some exercises where I identify channels and other patterns... an exercise where the chart might suggest a trade is on but say... the MACD is saying the opposite...things like that... exercises using different indicators etc...

In my opinion, not only is there no holy grail strategy of trading...there are in fact many

Lots of charting software allows you to 'play back' old data, so you can watch patterns develop and instantly see the outcome.

Yeah, I can do that.
I'm looking for training software specifically designed for the practicing of chart analysis

 

[Quantt]

I'm not looking for a strategy.
What I am looking for from such software is for example, exercises where I identify the levels where price has been most drawn toward...ie. drawing in support and resistance lines. Perhaps drawing in the strongest 3 levels...or something like that.

Perhaps some exercises where I identify channels and other patterns... an exercise where the chart might suggest a trade is on but say... the MACD is saying the opposite...things like that... exercises using different indicators etc...

In my opinion, not only is there no holy grail strategy of trading...there are in fact many

Let me try again to explain why you are not going to find it:

To be legitimate simulator with all those exercises with patterns, indicators, etc, it has to be based on a good trading strategy or you'll learn something wrong and not usable, like training on a math simulator with the wrong formulas, what good this is going to do, not only waste of time, but also you'll have to spend even more time to unlearn the bad habits...

The problem is that no one will build such a simulator without giving his winning strategy away... and even if you find someone crazy enough to do it, it will be arbitraged away, because more money (people) will use it...

For the holy grail, for sure there is more that one working strategy to beat the market, just see how many hedge funds and people are doing it and they are not using the same strategy, because of the arbitrage discussed above...

Cheers,

 

[Nowler]

Let me try again to explain why you are not going to find it:

To be legitimate simulator with all those exercises with patterns, indicators, etc, it has to be based on a good trading strategy or you'll learn something wrong and not usable, like training on a math simulator with the wrong formulas, what good this is going to do, not only waste of time, but also you'll have to spend even more time to unlearn the bad habits...

The problem is that no one will build such a simulator without giving his winning strategy away... and even if you find someone crazy enough to do it, it will be arbitraged away, because more money (people) will use it...

For the holy grail, for sure there is more that one working strategy to beat the market, just see how many hedge funds and people are doing it and they are not using the same strategy, because of the arbitrage discussed above...

Cheers,

Thanks for the explanation.

Perhaps not a simulator.
Just a teaching tool for learning the basics of technical analysis

 

[Quantt]

Thanks for the explanation.

Perhaps not a simulator.
Just a teaching tool for learning the basics of technical analysis

That's the problem with the technical analysis, isn't it?
It works, but only sometimes

 

[Nowler]

That's the problem with the technical analysis, isn't it?
It works, but only sometimes

I am a firm believer in not doing things for people, but rather helping them help themselves. Of course there are instances where I will do things FOR people instead of WITH them. If you give a man a fish (strategy) he eats for the day (his rewards are limited) but if you teach a man to fish (how to get their reward as a result of their own process) then he eats for a lifetime...

I would much prefer to be taught the basics and then build my own system than to take on a system tailored to someone else. This is not unique to my trading.

 

[Quantt]

I am a firm believer in not doing things for people, but rather helping them help themselves. Of course there are instances where I will do things FOR people instead of WITH them. If you give a man a fish (strategy) he eats for the day (his rewards are limited) but if you teach a man to fish (how to get their reward as a result of their own process) then he eats for a lifetime...

I would much prefer to be taught the basics and then build my own system than to take on a system tailored to someone else. This is not unique to my trading.

Absolutely, with that attitude, I am sure you are going to succeed! Cheers and tight lines!

 

[Nowler]

Absolutely, with that attitude, I am sure you are going to succeed! Cheers and tight lines!

Tight lines...
I like that.
Totally going to start saying it from now on!

Cheers

 

[Quantt]

Tight lines...
I like that.
Totally going to start saying it from now on!

Cheers

Glad you like it, went fishing this morning and thought it would be appropriate saying to bridge the two hobbies

 

[Nowler]

Glad you like it, went fishing this morning and thought it would be appropriate saying to bridge the two hobbies

I enjoy a bit of fishing myself! And am from a fishing family. That's why the saying stood out.

I mainly only go Mackerel fishing from shore around August but on occasion I will go bass fishing. The only fish I've ever caught is pollock and mackerel

I really only go for the tranquillity and to sometimes stand in the water and fish I don't mind if I catch nothing. I'd like to go out on a boat and fish some day... Tuna fishing actually!! Fish on!!

 

[Quantt]

I enjoy a bit of fishing myself! And am from a fishing family. That's why the saying stood out.

I mainly only go Mackerel fishing from shore around August but on occasion I will go bass fishing. The only fish I've ever caught is pollock and mackerel

I really only go for the tranquillity and to sometimes stand in the water and fish I don't mind if I catch nothing. I'd like to go out on a boat and fish some day... Tuna fishing actually!! Fish on!!

Fish on mate, I am back into carp fishing, going for few hours every day (for the next few weeks until everything freezes over

 

[Nowler]

Fish on mate, I am back into carp fishing, going for few hours every day (for the next few weeks until everything freezes over

Result!
I've never been carp fishing but I recently watched a fishing program (name escapes me) where a batch of young lads competed against each other and then the winner went on to fish against some older fella who is supposedly good at it. I wouldn't overly enjoy fishing on the tv but I do reckon that I'd enjoy carp fishing...I think it was carp fishing anyway! haha

Fishing for Tuna is something on my to-do list...imagine that kind of battle with a fish! The biggest fight i've ever had was 6 mackerel on a...35lb line...that was only really a battle because my reel was crap.

Anyway!
Enjoy the fishing mate!