TA in a Nutshell – a review
I went along to TBS’s course on Saturday and thought it might be worth jotting down a few observations in case others come this way and are wondering how to start…where to start…what does it all mean?
Well, this one day course is a very good way to begin. If one starts looking around T2W, you will soon see that there are many ways to trade but Sandy (TBS) has a KISS approach to reading a chart – trendlines, support and resistance (TSR). The use of indicators and oscillators receive scant coverage.
After a quick run through of TA and FA and why TA alone is (usually) enough, the day concentrated on looking at the patterns actually seen on a chart, whether they be trending, range bound, continuation. The common breakouts were discussed – double tops through to pennants – in an informal and relaxed atmosphere.
(to get an idea – click here to see Sandy’s last chart:-
http://www.trade2win.co.uk/boards/s...=&threadid=5344]
Sandy answered our novice questions all day, even over lunch there was no let up for him. He pretended to nip out for a ciggie but this was just to avoid another question…
During the afternoon we looked in more detail at some specific charts and interpretation of these via trendlines and the pattern recognition was excellent – bringing it all together with how to construct a trade plan. You just don't this from reading books.
I thoroughly enjoyed the day and believe that I have a good understanding of some basic TA principles. In fact, according to Sandy, TSR is all you need to know so it is up to me now to run the gamut of indicators, oscillators and volume to complete a Trader’s Lifecycle and end up back at TSR !
If anyone has any questions and would like to know more from an attendee’s point of view then just let me know.
Cheers again, Sandy
Andrew