Here is what you need to know about charting, I’ll keep this very basic assuming you’ll do the work necessary and follow up with this assignment. If you’re one of the people who says you want to trade for a living then you’re going to need solid education and that means a solid foundation. This will get you started.
- Read this book immediately – The Candlestick Course by Steve Nison
- Watch these DVD’s immediately – The Candlesticks MegaPackage by Steve Nison
No I don’t make any money if you click those links or buy those DVD’s, although I should write Steve about an affiliate deal since I probably send him a lot of traffic. Bottom line is this, Steve is the expert on the matter and I have his DVD package so I can speak from experience, you need to study his work to make it in stocks. If you’re savvy, you can find used DVD’s on eBay.
Once you’ve done one or both of those do the following.
- Get a membership to StockCharts.com – I reference a 1 year daily chart with Moving Averages, volume and 3 indicators before making any swing trade. Once in the trade I use this for reference points. (Click here for my video – coming soon)
- Get a membership to Etrade Pro – I use this to watch 1 minute 1 day charts for entry and exit on all swing trades. Once in the trade I use this to assess the ongoing health of the price action. (Click here for my video – coming soon)