Candlesticks and Bars both display the same exact information.
Best bible for TA beginner?
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Candlesticks and Bars both display the same exact information.
I do actually. I use Bars though. I just don't understand the difference, I can visualize it all anyways. I just tried looking at a chart switching between the two, it's all the same to me.
Regardless, I mainly use support and resistance levels and some moving averages for my trading. I actually thought they were a distraction.
But I don't know why I'm even pointing this out, because for some reason, I feel a year ago I probably was thinking the same thing, that candlesticks was going to change my trading. It didn't help one bit IMHO. It's all reflective of S&R.
I just had an idea... a poll!
Regardless, I mainly use support and resistance levels and some moving averages for my trading. I actually thought they were a distraction.
But I don't know why I'm even pointing this out, because for some reason, I feel a year ago I probably was thinking the same thing, that candlesticks was going to change my trading. It didn't help one bit IMHO. It's all reflective of S&R.
I just had an idea... a poll!
Visual Investor - Murphy (this is a gentle and easy introduction to TA.)
Also, if you're too busy to read, consider picking up some videos from PRISTINE.COM or TRADERSLIBRARY.COM (which have sales periodically).
B
P.S. All the books others have mentioned are useful. I just wanted to put in my 5 cents!!!
B
Also, if you're too busy to read, consider picking up some videos from PRISTINE.COM or TRADERSLIBRARY.COM (which have sales periodically).
B
P.S. All the books others have mentioned are useful. I just wanted to put in my 5 cents!!!
B
Japanese candlesticks, i see no value, the sense? They are useful if the lights go out? Why bother?
I am a traditionalist, HA. Like Japanese cars, i will never buy one but indeed they look good and are well built. ..........I said years ago: "They know how to build them,. but they sure do not know how to drive them"
good trading to all next week, especially me...
I am a traditionalist, HA. Like Japanese cars, i will never buy one but indeed they look good and are well built. ..........I said years ago: "They know how to build them,. but they sure do not know how to drive them"
good trading to all next week, especially me...
AND the book that all these other guys use as a reference to write their books is
"Technical Analysis and Stock Market Profits" by Richard W. Schabacker.
A good, free reference site is:
http://www.stockcharts.com/education/
Charles
"Technical Analysis and Stock Market Profits" by Richard W. Schabacker.
A good, free reference site is:
http://www.stockcharts.com/education/
Charles
I trade based on TA, but I don't think it is useful for a beginner to start reading a TA bible.
I'd suggest to start by learning the money management basics from:
"Trade Your Way To Financial Freedom" by Van K. Tharp
Then learn the why and the how of becoming a technical trader from:
"Come Into My Trading Room" by Alexander Elder
After that you can read and experiment with other concepts and methods until you'll find your own niche.
I'd suggest to start by learning the money management basics from:
"Trade Your Way To Financial Freedom" by Van K. Tharp
Then learn the why and the how of becoming a technical trader from:
"Come Into My Trading Room" by Alexander Elder
After that you can read and experiment with other concepts and methods until you'll find your own niche.
Quote from Babak:
Ever notice 40+ traders use bars and younger traders use candles.
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I noticed younger use candles & older traders [some,more than 40 or 50 ] who prefer the easy on eyes candles, the faster read of candles. & more colorful trends.
I see your point also.