Midas

Hi aircraft,

Generally, whenever time permits, I try to share my chart analysis to exchange pointers with fellow TA practitioner n I try to shun making buy/sell calls as nothing is guaranteed n my calls may at times be wrong, though at times I may share my personal stop-loss point as individuals have to dyodd n BOSAYOR.

It is very difficult for me to elaborate in a forum about how I spot buy/sell candle pattern candlesticks pattern as it is a field of study by itself which needs to be learned from books n not easily explained in a posting, but basically, 1st n foremost, I m a trend trader n candlestick TA chartist, so 1st thing, I look for the trend (The trend is your friend) followed by identifying reversal candles to decide my buy and sell, preferably supported by vol , trend channel, support, resistance, fibo retracement n lastly those lagging indicators, if they support the leading incators (candles reversal pattern), it is an added bonus.

Retail players do not have enuf firepower to make it top vol or top 20, u need FM, big institutions or big syndicates to push up.

But b4 they push up, they have silent low profile accumulation phase just as u r seeing now those "1 lotters" trick to create "fear" by programmed every "about 1 mins" sell down to accumulate at lower price (read my earlier post on "1 lotters programmed trading tat I copied from another forum).

Once, they have accumulated enuf, it is the "pump n dump" distribution phase, where they do the "1 lotter" programmed buy-up to create the impression of price going up n dump to those late-comers.

Hi Benny,

I believe u r new to trading.

If u r newbie to trading, below is my advice (whether to listen or not is up to u).

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades." - Learn how to spot reversal signs in candlestick charts for entry n exit

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"

Depending on your inclinations and whether u seriously want to learn TA, I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books. Read as many TA books and money management books, it will definitely stand u in good stead.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"
 
U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn,dun waste your money, instead self-learn the skills n use tat money to trade. I rather save the money to trade and multiply it).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills till I m quite confident b4 start trading bcos the mkt is merciless. 

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

Hi benny,

As there is not much change as it is consolidating around the 50ema n centreline of the uptrending channel, so I dun post, u can take a look at my previous chart,

This is the accumulation phase, so patience has its virtue, this is a test of your patience. Those who are patience will be amply rewarded.

I m a hermit, I hate to enter a crowded breathless room, Midas train still not yet crowded, so very cool n comfy, waiting for the show to start but once the crowds starts coming in, I will start to feel uncomfortable, waiting for sign to exit.

I will take a look at them. Thank you for the advice. Btw, US shed 216,000 jobs as compared to consensus 225,000 jobs.

But unemployment jump to 9.7% instead of 9.5%. Hope these are still considered good news........