The othehr day I was struggling to see some clean sites with modern touch, sites which are started last 2 years to see clean designs . I searched (few days) web but did not find any and struggled and did not find a place where you get a list of sites with good look.
Here is the source crunchbase
- below artlogic site is one example, you can get all modern recently funded sites by filterinng with category
http://www.artlogic.com/ - great new look , simple menus , good art background instead of images
-----
When I just struggled to get a clean looking site for days , then think about findinng best sites like Mr. K . How can you find , what do you serach on . That is why you need some base some place where somebody did the job and ranked that is Forbes best of web
http://www.forbes.com/bow/b2c/main.jhtml
-------
great place for new startup enterprenuers to see what already exists , who are the existinng competators in your filed how/when they are funded etc.. If all new enterprenuers read and resrech these companies in their area before starting their company they save months of fruitless labor and money ( by avoidinng starting site in an already crowded area )
http://www.crunchbase.com/company/scribd
-----
scribd - got great PDF book on candlestick , you can get every document sample and save tons of hours with sample power point , excel etc.
here is good PDF book
---
for good site navigation UI , menus , CSS etc.. see my posts in CSS or HTML
Thursday, November 26, 2009
Wednesday, November 25, 2009
path to find good books
Here is how I got a good book
1. looking at tradinggodess to refer previously seen pivot calculator link
2. found '10 best candle stick patterns' link on the above site
3. read the above candle stick article and then looked at amazon for candle stick books.
4. found few , looked reviews and then looked back what Mr. K has for candle and got the 'japanese candle stick classic'
5. then looked at High Profit Candlestick Patterns , read all the reviews and found out this is more practical than above classic and this is what I need.
6 asr main point: I should not get books based on chance like above story , I need to pro-acitvly look and get good books based on reading all 5 star riviews ( a book having all reviews ( every review) 5 star rating )
so based on above 6) I found the following 2 books and saved to wish list.
---
All 5 star reviews book
1. Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets (Wiley Trading) by Ashraf Laidi
2. Volatility Trading, + CD-ROM (Wiley Trading) by Euan Sinclair
1. looking at tradinggodess to refer previously seen pivot calculator link
2. found '10 best candle stick patterns' link on the above site
3. read the above candle stick article and then looked at amazon for candle stick books.
4. found few , looked reviews and then looked back what Mr. K has for candle and got the 'japanese candle stick classic'
5. then looked at High Profit Candlestick Patterns , read all the reviews and found out this is more practical than above classic and this is what I need.
6 asr main point: I should not get books based on chance like above story , I need to pro-acitvly look and get good books based on reading all 5 star riviews ( a book having all reviews ( every review) 5 star rating )
so based on above 6) I found the following 2 books and saved to wish list.
---
All 5 star reviews book
1. Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets (Wiley Trading) by Ashraf Laidi
2. Volatility Trading, + CD-ROM (Wiley Trading) by Euan Sinclair
Volatility Trading,
asr: all reviews 5 star ( I have one other volatility book )
Your goal, Sinclair explains, must be clearly defined and easily expressed-if you cannot explain it in one sentence, you probably aren't completely clear about what it is.
- The same applies to your statistical edge. If you do not know exactly what your edge is, you shouldn't trade.
- He shows how, in addition to the numerical evaluation of a potential trade, you should be able to identify and evaluate the reason why implied volatility is priced where it is, that is, why an edge exists.
- This means it is also necessary to be on top of recent news stories, sector trends, and behavioral psychology.
- Finally, Sinclair underscores why trades need to be sized correctly, which means that each trade is evaluated according to its projected return and risk in the overall context of your goals.
review
This is a must for any volatility trader. That being said, it offers a lot to people who trade other products, invest, or make decisions about investment managers. Looking through it now, I would say at least half the book is useful for any type of investor. Perhaps the book should be called "trading with an emphasis on volatility" since it probably doesn't reach a wide enough audience.
asr: the above reviewer other reviews (good books), seems it is needed for any investor as he said
http://www.amazon.com/gp/cdp/member-reviews/AGTYO77U15BCO/ref=cm_cr_pr_auth_rev?ie=UTF8&sort_by=MostRecentReview
Your goal, Sinclair explains, must be clearly defined and easily expressed-if you cannot explain it in one sentence, you probably aren't completely clear about what it is.
- The same applies to your statistical edge. If you do not know exactly what your edge is, you shouldn't trade.
- He shows how, in addition to the numerical evaluation of a potential trade, you should be able to identify and evaluate the reason why implied volatility is priced where it is, that is, why an edge exists.
- This means it is also necessary to be on top of recent news stories, sector trends, and behavioral psychology.
- Finally, Sinclair underscores why trades need to be sized correctly, which means that each trade is evaluated according to its projected return and risk in the overall context of your goals.
review
This is a must for any volatility trader. That being said, it offers a lot to people who trade other products, invest, or make decisions about investment managers. Looking through it now, I would say at least half the book is useful for any type of investor. Perhaps the book should be called "trading with an emphasis on volatility" since it probably doesn't reach a wide enough audience.
asr: the above reviewer other reviews (good books), seems it is needed for any investor as he said
http://www.amazon.com/gp/cdp/member-reviews/AGTYO77U15BCO/ref=cm_cr_pr_auth_rev?ie=UTF8&sort_by=MostRecentReview
Tuesday, November 24, 2009
Candle Sticks
http://www.candlestickforum.com/store/products.asp?Category_ID=3 - buy here cheaper than amazon..
asr: I have PDF book saved in mail , to read basic and can give to Indian guy ..
asr: seems my OIL BIG trades that are LOST have these Reversal patterns.
- in this connection , I may need 1) VP 2) TraderGuide 3) these Japanese candles patterns to make swing trades
-- asr: so this Japanese candle originally developed for future markets , so should be good for our OIL and Soy bean etc..
-- asr: it seems this Japanese candle sticks patterns are more for short term trading like hourly and daily chart , where as 'Bulkonow' book explained more long term patterns ( his avg. example trade is 2 to 4 months ..) , so I asr need more 'Japanse canlde ' immediacy ( for OIL , S&P other trades to combine with VP for portifoli advice )
-----
Fatten your portfolio with High Profit Patterns,
As an example, many investors will enter a trade, cycle through it and once they are out, they forget about it. It turns out that nice runs are ended when investors take their profits and cause a pullback.........or is it major reversal? In "High Profit Candlestick Patterns" the "J-Hook" pattern helps me decide if it's pullback or reversal. Many pullbacks offer a second chance for investors who missed the first run to get in on the second. I, on the other hand, can get a second bite of the apple by getting back into the play using the J-Hook once it confirms a pullback as opposed to a reversal.
Not to be missed is the discussion about Moving Averages. You may be familiar with Moving Averages but you haven't taken full advantage of them until they are combined with the Major signals. Steve shows how to use the probabilities of Support and Resistance at key moving averages to your advantage.
Since one can only make "so many" trades, and so that I don't "overdose", I've settled on using the J-Hook pattern along with plays developing around the key moving averages as my main focus. There is enough usable material in the book to satisfy the needs of any trader or portfolio size.
Trade long enough and you'll be offered many "secrets" that are sold for $47.00, $97.00, on up to infinity and once you have them, you find they work once or twice a year, or only in specific markets or maybe not since 1925. All that ends with "High Profit Candlestick Patterns". Once and for all I can look at a chart and have a high percentage of confidence about when a good trade is developing. Add to that the peace of mind that comes from knowing where the trade is going and when it's likely the time to take profits or let them run.
----
Most beginners loose money on the stock market either because their timing for entering and exiting trades is wrong or because they are chasing the wrong stock. Candlestick analysis tells it all and Stephen's latest book explains it very clearly with an important difference.
---
review
This book is written for swing and short-term traders. It highlights the important reversal signals and their confirming indicators, like stochastics, trend lines, and moving averages. For the new trader, all the indicators can quickly become a blur. This book zeroes in on only those indicators one really needs to develop reliable entry and exit strategies. As Bigalow says and demonstrates throughout, using candle signals is not rocket science.
For me, the most important chapters were on using candles for options trades and the exit and entry strategies. These were worth the price of the book, in my view. Other chapters spoke my language of the common trading indicators and bullish and bearish price formations. They all come together quite well here.
--------
these 2 reviews from this page
A successful trader repeats the same analysis, entry and exit strategies again and again over time. That consistent repitition gives the trader confidence and takes the emotion out of trading. Steve Bigalow unlocks the secret of the price bars in clear and easily understandable manner.
I was in a funk with my trading, floundering around with little direction. I read this easy to read book followed the major siganls and stopped looking at a 1/2 dozen oscillators. I now focus on stochastics with a signal and a few moving averages. The book gives you a complete trading sytem for bull and bear markets. GREAT READ
--------
The book not only describes the 12 main candlestick signals
it also shows patterns including entry and exit points, use
of stops. this gives even a new trader an edge for making profitable tades
-----
Excellent book on how to trade using candlesticks along with other indicators to maximize your probability of success. He focusses on just 12 major candlesticks which will give more than enough signals. Then intrduces high profit patterns, support and resistance at major moving averages, trendlines, ect. A key point is when also learning when to get out. One point he made on looking for the end on the move saved me from a nasty correction before I was even near finished with this book. This book will help you make money!
----
I have a Library full of Trading books and even though I could understand in theory I had a hard time in applying what I was learning to a stock chart.
Since reading Steves' books I now have the ability to better read a stock chart. He actually tells you when to start looking for key reversals on a chart. Through repetition and practice I can actually see what the candles are telling me at these points which are the simple mavs 20 50 200 as well as overbought and oversold areas. My page now has structure to it.I can quickly spot a cradle, a scoop and a Jay Hook pattern. I am now able to better use the candle as a stop loss and recognize where a stock is likely to go to. And yes I make lots of money now. Many thanks Steve.
---------
While going through my list of 'Stocks to Watch', I am better able to pick out the highest probability trades by using the information in Steve's book. The 12 Major Signals chapter narrows the whole trading with candlesticks process down to the best of the best. There are plenty of annotated charts showing examples of candlestick patterns. The book contains only the 'meat' of learning how to use candlesticks. I join Steve's weekly Candlestick Chat Room every Thursday evening. It's free and Steve goes into great detail about what is going on in the market by using the candlestick patterns described in the book. You just can't beat it. I've sent dozens of fellow traders to his website: www.candlestickforum.com. Read the book first, keep it handy for reference, join in the Chat Room and start making better trades. Thank you Steve.
--
His illustrations of how to use the candlestick signals in
trading patterns and applied to other technical indicators makes finding high probability trades very easy to identify
---
asr: I need to buy this book ( Mr. K list and and this article author list) . I need to learn this
Japanese Candlestick Charting Techniques,
-- Although his clear illustrated examples use mostly futures, these methods definitely apply to equities as well.
review:
However, something was missing... That was major reversal patterns that occur at tops or bottoms. I have lost a lot of money as a result for several trades that were supposed to yield excellent returns using the system i learned all due to my failure and ignorance to understand a missing trading puzzle... Yes, that happens to be candlestick reversal patterns. I still remember them to be, the "Morning star"," Shooting Star" and "Bullish Engulfing pattern". After learning these patterns, the results were shocking. My losses were cut to a minimum,
10 Best Candlestick Patterns
There are many candlestick patterns but only a few are actually worth knowing. Here are 10 candlestick patterns worth looking for.
Remember that these patterns are only useful when you understand what is happening in each pattern.
They must be combined with other forms of technical analysis to really be useful. For example, when you see one of these patterns on the daily chart, move down to the hourly chart. Does the hourly chart agree with your expectations on the daily chart? If so, then the odds of a reversal increase.
The following patterns are divided into two parts: Bullish patterns and bearish patterns. These are reversal patterns that show up after a pullback (bullish patterns) or a rally (bearish patterns).
---
outside Reviews , outside of Amazon
candle patterns, moving averages, indicators are all indicators. it gives indications and way to unerstand what is happening in the scrip. if candles give diff views in short time frame what about indicators and moving averages. it also give the flaws still one shoul accept and feel candles are always in better position to give best scenario compare to others.
- best thing about candles it that it gives you opportunity to buy at the lowest level and sell at the highest level. after long time studying and playing with all the tools i am 100% sure this is the best tool availble in the market compare to all other tools.
- i was making losses with all other things with lot of stress while analysis. candles has changed the perception of analysis.
- better is that one should try to understand more closely what steve nisan and stepphen bigalow indicate that it should be used with western charting tools will increase the efficiency, that only thing i want to say.
------
Encyclopedia of Candlestick Charts
Encyclopedia Critique,
Mr.Bulkowski dedicates a chapter to each one of 103 individual candlestick patterns, most of which are reversal patterns.
The chapters are ususally 8-9 pages long and have the format: behavior & rank: identification guidelines:- statistics: trading tactics: a sample trade and advice on optimizing the use of that pattern.
For me, the author's most interesting finding was that more than one quarter of the patterns do not act as would be expected, e.g.in a bull market, the common Harami Bear and Hanging Man result in a bullish continuation most of the time. This is a good reference work. A mass of data is presented and a glossary/methodology provided.
The product would have been greatly improved by illustrating the terms used in the glossary (some of which are quite complex) with actual numerical examples. Finally, there is no discussion of using technical indicators, such as stochastics, with candlestick patterns.
asr: I have PDF book saved in mail , to read basic and can give to Indian guy ..
asr: seems my OIL BIG trades that are LOST have these Reversal patterns.
- in this connection , I may need 1) VP 2) TraderGuide 3) these Japanese candles patterns to make swing trades
-- asr: so this Japanese candle originally developed for future markets , so should be good for our OIL and Soy bean etc..
-- asr: it seems this Japanese candle sticks patterns are more for short term trading like hourly and daily chart , where as 'Bulkonow' book explained more long term patterns ( his avg. example trade is 2 to 4 months ..) , so I asr need more 'Japanse canlde ' immediacy ( for OIL , S&P other trades to combine with VP for portifoli advice )
-----
Fatten your portfolio with High Profit Patterns,
As an example, many investors will enter a trade, cycle through it and once they are out, they forget about it. It turns out that nice runs are ended when investors take their profits and cause a pullback.........or is it major reversal? In "High Profit Candlestick Patterns" the "J-Hook" pattern helps me decide if it's pullback or reversal. Many pullbacks offer a second chance for investors who missed the first run to get in on the second. I, on the other hand, can get a second bite of the apple by getting back into the play using the J-Hook once it confirms a pullback as opposed to a reversal.
Not to be missed is the discussion about Moving Averages. You may be familiar with Moving Averages but you haven't taken full advantage of them until they are combined with the Major signals. Steve shows how to use the probabilities of Support and Resistance at key moving averages to your advantage.
Since one can only make "so many" trades, and so that I don't "overdose", I've settled on using the J-Hook pattern along with plays developing around the key moving averages as my main focus. There is enough usable material in the book to satisfy the needs of any trader or portfolio size.
Trade long enough and you'll be offered many "secrets" that are sold for $47.00, $97.00, on up to infinity and once you have them, you find they work once or twice a year, or only in specific markets or maybe not since 1925. All that ends with "High Profit Candlestick Patterns". Once and for all I can look at a chart and have a high percentage of confidence about when a good trade is developing. Add to that the peace of mind that comes from knowing where the trade is going and when it's likely the time to take profits or let them run.
----
Most beginners loose money on the stock market either because their timing for entering and exiting trades is wrong or because they are chasing the wrong stock. Candlestick analysis tells it all and Stephen's latest book explains it very clearly with an important difference.
---
review
This book is written for swing and short-term traders. It highlights the important reversal signals and their confirming indicators, like stochastics, trend lines, and moving averages. For the new trader, all the indicators can quickly become a blur. This book zeroes in on only those indicators one really needs to develop reliable entry and exit strategies. As Bigalow says and demonstrates throughout, using candle signals is not rocket science.
For me, the most important chapters were on using candles for options trades and the exit and entry strategies. These were worth the price of the book, in my view. Other chapters spoke my language of the common trading indicators and bullish and bearish price formations. They all come together quite well here.
--------
these 2 reviews from this page
A successful trader repeats the same analysis, entry and exit strategies again and again over time. That consistent repitition gives the trader confidence and takes the emotion out of trading. Steve Bigalow unlocks the secret of the price bars in clear and easily understandable manner.
I was in a funk with my trading, floundering around with little direction. I read this easy to read book followed the major siganls and stopped looking at a 1/2 dozen oscillators. I now focus on stochastics with a signal and a few moving averages. The book gives you a complete trading sytem for bull and bear markets. GREAT READ
--------
The book not only describes the 12 main candlestick signals
it also shows patterns including entry and exit points, use
of stops. this gives even a new trader an edge for making profitable tades
-----
Excellent book on how to trade using candlesticks along with other indicators to maximize your probability of success. He focusses on just 12 major candlesticks which will give more than enough signals. Then intrduces high profit patterns, support and resistance at major moving averages, trendlines, ect. A key point is when also learning when to get out. One point he made on looking for the end on the move saved me from a nasty correction before I was even near finished with this book. This book will help you make money!
----
I have a Library full of Trading books and even though I could understand in theory I had a hard time in applying what I was learning to a stock chart.
Since reading Steves' books I now have the ability to better read a stock chart. He actually tells you when to start looking for key reversals on a chart. Through repetition and practice I can actually see what the candles are telling me at these points which are the simple mavs 20 50 200 as well as overbought and oversold areas. My page now has structure to it.I can quickly spot a cradle, a scoop and a Jay Hook pattern. I am now able to better use the candle as a stop loss and recognize where a stock is likely to go to. And yes I make lots of money now. Many thanks Steve.
---------
While going through my list of 'Stocks to Watch', I am better able to pick out the highest probability trades by using the information in Steve's book. The 12 Major Signals chapter narrows the whole trading with candlesticks process down to the best of the best. There are plenty of annotated charts showing examples of candlestick patterns. The book contains only the 'meat' of learning how to use candlesticks. I join Steve's weekly Candlestick Chat Room every Thursday evening. It's free and Steve goes into great detail about what is going on in the market by using the candlestick patterns described in the book. You just can't beat it. I've sent dozens of fellow traders to his website: www.candlestickforum.com. Read the book first, keep it handy for reference, join in the Chat Room and start making better trades. Thank you Steve.
--
His illustrations of how to use the candlestick signals in
trading patterns and applied to other technical indicators makes finding high probability trades very easy to identify
---
asr: I need to buy this book ( Mr. K list and and this article author list) . I need to learn this
Japanese Candlestick Charting Techniques,
-- Although his clear illustrated examples use mostly futures, these methods definitely apply to equities as well.
review:
However, something was missing... That was major reversal patterns that occur at tops or bottoms. I have lost a lot of money as a result for several trades that were supposed to yield excellent returns using the system i learned all due to my failure and ignorance to understand a missing trading puzzle... Yes, that happens to be candlestick reversal patterns. I still remember them to be, the "Morning star"," Shooting Star" and "Bullish Engulfing pattern". After learning these patterns, the results were shocking. My losses were cut to a minimum,
10 Best Candlestick Patterns
There are many candlestick patterns but only a few are actually worth knowing. Here are 10 candlestick patterns worth looking for.
Remember that these patterns are only useful when you understand what is happening in each pattern.
They must be combined with other forms of technical analysis to really be useful. For example, when you see one of these patterns on the daily chart, move down to the hourly chart. Does the hourly chart agree with your expectations on the daily chart? If so, then the odds of a reversal increase.
The following patterns are divided into two parts: Bullish patterns and bearish patterns. These are reversal patterns that show up after a pullback (bullish patterns) or a rally (bearish patterns).
---
outside Reviews , outside of Amazon
candle patterns, moving averages, indicators are all indicators. it gives indications and way to unerstand what is happening in the scrip. if candles give diff views in short time frame what about indicators and moving averages. it also give the flaws still one shoul accept and feel candles are always in better position to give best scenario compare to others.
- best thing about candles it that it gives you opportunity to buy at the lowest level and sell at the highest level. after long time studying and playing with all the tools i am 100% sure this is the best tool availble in the market compare to all other tools.
- i was making losses with all other things with lot of stress while analysis. candles has changed the perception of analysis.
- better is that one should try to understand more closely what steve nisan and stepphen bigalow indicate that it should be used with western charting tools will increase the efficiency, that only thing i want to say.
------
Encyclopedia of Candlestick Charts
Encyclopedia Critique,
Mr.Bulkowski dedicates a chapter to each one of 103 individual candlestick patterns, most of which are reversal patterns.
The chapters are ususally 8-9 pages long and have the format: behavior & rank: identification guidelines:- statistics: trading tactics: a sample trade and advice on optimizing the use of that pattern.
For me, the author's most interesting finding was that more than one quarter of the patterns do not act as would be expected, e.g.in a bull market, the common Harami Bear and Hanging Man result in a bullish continuation most of the time. This is a good reference work. A mass of data is presented and a glossary/methodology provided.
The product would have been greatly improved by illustrating the terms used in the glossary (some of which are quite complex) with actual numerical examples. Finally, there is no discussion of using technical indicators, such as stochastics, with candlestick patterns.
Trading Strategies
10 Best Candlestick Patterns
Swing Traders Action Zone - The Trading Strategy
The Traders Action Zone (TAZ) is a buy and sell zone on a chart that swing traders can use to identify possible reversals in a stock.
This is just simply "area" that we look at to see if a stock that is in a strong uptrend, after pulling back to this area, will likely reverse.
First of all, let’s take a look at all of the different types of traders involved in the stock market when looking at a daily chart.
Then, we will look at where they buy stocks. We'll focus on the long side only.
------
Trading Pullbacks - Buy Weakness and Sell Strength
Buying weakness and selling strength is the art of buying pullbacks. Stocks that are in up trends will pull back offering a low risk buying opportunity and stocks that are in downtrends will rally offering a low risk shorting opportunity.
As a swing trader, you have to WAIT for these opportunities to happen because…
Doesn’t it make more sense to buy a stock after a wave of selling has occurred rather than getting caught in a sell-off?
------
How to trade gaps on a stock chart
Are all gaps created equal? Nope. There are really only two significant factors to consider when trading gaps.
You have to be able to identify if the gap is caused by professional traders or amateur traders. There is a big difference between the two!
--------
How to Get a Good Entry on a Stock
----
How to Read Charts Through Different Time Periods
Looking at multiple time frames can give you a better idea of what is happening with a stock. For swing trading, we can break this down into 4 time periods: The daily, weekly, 60 minute, and 5 minute time frames.
Looking at a stock through different time frames can be confusing if you are a new trader. Why? Because each time frame looks different! A stock may look great on the daily chart, but look horrible on a 5 minute chart.
----------------
How To Use The ADX Indicator
The ADX indicator measures the strength of a trend and can be useful to determine if a trend is strong or weak. High readings indicate a strong trend and low readings indicate a weak trend.
http://www.swing-trade-stocks.com/chart-patterns.html
---------
Finding Relative Strength
Find Out if a Stock is Strong or Weak
Relative strength refers to how strong a stock is relative to something else. This could be either how strong it is compared to the overall market or the industry group that it is in.
If it is stronger, than then we say that it has relative strength. If it is weaker, than we say that it has relative weakness.
Relative Strength
To improve your odds of a successful trade, you want only want to trade stocks on the long side that are stronger than the market itself. One way to do this is to compare it to the S&P500.
How To Use Fibonacci Retracements
---------
Swing Traders Action Zone - The Trading Strategy
The Traders Action Zone (TAZ) is a buy and sell zone on a chart that swing traders can use to identify possible reversals in a stock.
This is just simply "area" that we look at to see if a stock that is in a strong uptrend, after pulling back to this area, will likely reverse.
First of all, let’s take a look at all of the different types of traders involved in the stock market when looking at a daily chart.
Then, we will look at where they buy stocks. We'll focus on the long side only.
------
Trading Pullbacks - Buy Weakness and Sell Strength
Buying weakness and selling strength is the art of buying pullbacks. Stocks that are in up trends will pull back offering a low risk buying opportunity and stocks that are in downtrends will rally offering a low risk shorting opportunity.
As a swing trader, you have to WAIT for these opportunities to happen because…
Doesn’t it make more sense to buy a stock after a wave of selling has occurred rather than getting caught in a sell-off?
------
How to trade gaps on a stock chart
Are all gaps created equal? Nope. There are really only two significant factors to consider when trading gaps.
You have to be able to identify if the gap is caused by professional traders or amateur traders. There is a big difference between the two!
--------
How to Get a Good Entry on a Stock
----
How to Read Charts Through Different Time Periods
Looking at multiple time frames can give you a better idea of what is happening with a stock. For swing trading, we can break this down into 4 time periods: The daily, weekly, 60 minute, and 5 minute time frames.
Looking at a stock through different time frames can be confusing if you are a new trader. Why? Because each time frame looks different! A stock may look great on the daily chart, but look horrible on a 5 minute chart.
----------------
How To Use The ADX Indicator
The ADX indicator measures the strength of a trend and can be useful to determine if a trend is strong or weak. High readings indicate a strong trend and low readings indicate a weak trend.
http://www.swing-trade-stocks.com/chart-patterns.html
---------
Finding Relative Strength
Find Out if a Stock is Strong or Weak
Relative strength refers to how strong a stock is relative to something else. This could be either how strong it is compared to the overall market or the industry group that it is in.
If it is stronger, than then we say that it has relative strength. If it is weaker, than we say that it has relative weakness.
Relative Strength
To improve your odds of a successful trade, you want only want to trade stocks on the long side that are stronger than the market itself. One way to do this is to compare it to the S&P500.
How To Use Fibonacci Retracements
---------
10,000-Hour Rule
In his recent book Outliers: The Story of Success, Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours.
10,000 hours equates to around 4hrs a day for 10 years.
asr: 1) Bulkowski put these 10,000 hours , ofcourse he might have put 8 hours a day , so it might have took him 5 years.
- 2) Mr. K must have put 4 hours a day that is ( outside trading ) for 10 years for sure.
3) The amount of time spent on their trading outside of trading hours (preparation, reading, etc.);
For some reason most people that 'try their hand' at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn't see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?
Trading success, comes from screen time and experience, you have to put the hours in!
10,000 hours equates to around 4hrs a day for 10 years.
asr: 1) Bulkowski put these 10,000 hours , ofcourse he might have put 8 hours a day , so it might have took him 5 years.
- 2) Mr. K must have put 4 hours a day that is ( outside trading ) for 10 years for sure.
3) The amount of time spent on their trading outside of trading hours (preparation, reading, etc.);
For some reason most people that 'try their hand' at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn't see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?
Trading success, comes from screen time and experience, you have to put the hours in!
Favorite Trading Techniques and Tools
Here are some trading technique posts relevant to evaluating short-term sentiment and trading patterns in the stock market:
* A NYSE TICK primer: evaluating intraday sentiment;
* The Cumulative NYSE TICK and its use;
* Reading data from Market Delta charts;
* Identifying range markets;
* Identifying downtrend days in the market;
* Identifying uptrend days in the market;
* Making the breakout trade.
* A NYSE TICK primer: evaluating intraday sentiment;
* The Cumulative NYSE TICK and its use;
* Reading data from Market Delta charts;
* Identifying range markets;
* Identifying downtrend days in the market;
* Identifying uptrend days in the market;
* Making the breakout trade.
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