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Hmmm, but i will sell everything and initiate shorts by CFD if 1456 breaks leh.
1850 breaks i will sell half 1st i think.
Haha,
logical answers to your questions would be -
What if the STI decides to test 1850 again? Hold
What if 1850 breaks? Sell
What if 1456 also breaks? Buy
What if STI shoots up to 3000 straight away? Good loh, all earn $ mah.
Look at the 2nd bottom. It is lower than the 1st bottom. So, this is not an orthodox double bottom, where the 2nd bottom is HIGHER than the 1st. That is why I say it doesn't look like double bottom to me.
Hence, it is perhaps safer to expect a higher low to form before going in. The problem is that nobody really knows when the higher low will be formed. What if the higher low is really high? What if this is turns out to be a part of a bigger bottom formation? What if the STI decides to test 1850 again? What if 1850 breaks? What if 1456 also breaks? What if STI shoots up to 3000 straight away?
Nobody knows what will happen. So, unless we are nobody, which obviously we aren't, we have to accept that we are playing with probabilities, ie , taking a chance.
If we are right, the profits will look after themselves. It is when we are wrong that we MUST cut loss.
I'm not an expert, but it looks like a double bottom to me.
Hi, aircraft.
1) For me, STI bottomed because 1960 was touched. I do not believe whatever anybody shows me. Often, i have doubts about myself too. STI does not look like a double bottom to me.
2) Always plan 1 level above and below. Eg if you are trading on intraday charts, you need to know what is happening in the intraday cahrts, eg 15 mins. More importantly, you MUST know what is happening on the weekly charts. A bit like planning for mission during army times, one level up, one level down.
aircraft ( Date: 24-May-2009 16:37) Posted:
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Hi DnApeh,
1) They showed the chart and 1850 is the confirmation of uptrend from the double bottom. That's why it'll have to hold to so call confirm the uptrend is in still in progress mah.
2) Some novices might not look at weekly charts loh, only look at daily charts as it'll have the most information.
DnApeh ( Date: 24-May-2009 16:22) Posted:
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Hello, don't chow mei, OK? just kidding.
"her" refers to singaporegal.
LongSM ( Date: 24-May-2009 16:23) Posted:
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hi, DnApeh, thank you.
Btw, why u know i am "her".
1) Why do they say DJ on strong uptrend leh? The other 3 on uptrend i agree. If DJ can kiss 9035, then I agree. Why STI confirmation of uptrend already still have to worry that during pullback, 1850 must hold leh? Why not just worry about 1456 holding leh?
2) Certainly must look at weekly charts lah, even monthly. Hint: take a look at STI chart since the beginning of time.
I am also still learning. I feel that although it is good to attend such seminar, it is important to study 1st, so that the right questions and doubts can be raised. If the lecturer is really so good, the 1st thing he will admit is that whatever you do (for traders), the most important thing is to set your cut loss point and stick to it.
Do not buy already, and when prices drop, then become long-term investor. Then keep holding the baby until left 10% and finally decide to cut loss, already no more meat then cut loss. Decide weather trader or investor 1st. If trader, cut loss when price falls. If investor, buy more if price fall.
aircraft ( Date: 24-May-2009 15:43) Posted:
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Hi all,
Just some sharing from the seminar yesterday. I found it to be enjoyable and informative although I can only stay for 1st half, missed the stocks selection and Q & A session.
1) All 4 Indices Dow Jones, SSE , Hang Seng and STI are off bottom and on strong uptrend. Shorting not recommanded.
Dow Jones must hold 8250 to substain uptrend.
STI confirmation of uptrend at 1850, current resistance 2250. Buy on pull backs but 1850 must hold.
2) When look at charts, instead of only using daily charts, also use weekly charts to have a clearer view and see the bigger picture.
I like reading books also but IMO this type of seminar gives up-to-date market sentiments and outlook that no book can offer, especially for novices.
i reply for her.
"long term secrets to short term trading" by Larry Williams.
LongSM ( Date: 23-May-2009 22:55) Posted:
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hi, singaporegal.
Any good books on TA & share market to recommend ? I also believe and enjoy reading book.
Thanks in advance.
True... true..
But by reading a book first, you may take a lot more away from the seminar. You can argue and discuss with the trainer in depth.
For beginners, no harm attending the seminar since it is free. You will learn a thing or two. However, their main purpose is for you to sign up for their software.
For me, I am not good at learning from reading book. I learn better listening to others teaching and guiding.
Just Do It !
for a novice .... any free seminar is very useful ... even a single perspective learnt /small nuggets captured here and there , even if u don't understand now , but later on , would be enormous .. it could excite u .... it could trigger u.... it could spur u on to learning the whole works ....
mingling with like minded people at the seminar could also be to ur advantage .... even the uninitiated innocent questions they throw up will be useful ....
novices, Don't have second thoughts !
Just attend them !
Just Do It !
Hi All,
Anyone attended ChartNexus free seminars before and are they useful for novice ?
They have quite a few seminars like Candlestick Analysis Course and Trading Effectively with Fibonacci. Appreciate any feedback from those who attended before, thanks.