Any beginners looking at that thread would think we are all crazy. Why not give us beginners some basics on how to trade. From a beginners point of view where does a person start, the moon? Cheers, Peedee.
Human emotions factor heavily in the market hence the reason for resistance, support levels. More importantly, Greed and Fear. These are the driving forces of the market, simply knowing how humans react under extremes of these conditions will go a long way to understanding why the market moves as it does. As a trader I plan on using this simple psychology as a way of determining entry points and positions to take. Also another big, big factor in the market, as I'm sure most know, is confidence. When that is dented or lost, expect freefall (ok maybe not freefall), when it's inflated, expect takeoff. Off course it's not always as clear cut as that, but it trends to this. (And no I have no proof just individual observations)
If your starting out, learn the abc's of the market (or any market).
I first started learning about simple economics although, a lot I knew already. I would also advise you (unless you do it already) to watch the market as often as possible to get a feel for it. Check out the news for the day, see how prices react to specific news, results etc. Then I guess it would be advisable to decide on the position you wish to take as a trader. For example, I started investing for several years (held positions for more than few weeks, usually months) - now im moving on to day trading, but it's stood me i good stead - I think I would have crashed and burned when day trading if I went into it blind, without learning about the bigger picture first. Having a wide view as possible is essential, the stockmarket seems to rely on anything and everything, as I read in a post before here, what happens with the American President tends to be more important than a company releasing news.
There is also a thread in this forum on TA, which I would consider as essential reading.
Kael, youll have to excuse some of my threads and posts yesterday it was a lol type of day. Looking at your post you have probably got a point, if lunar activities get you results go for it. No offence meant by the original post, cheers, Peedee.