TC and the experts

[cantrell24x]

TC I am new to trading and so far I have really taken one for the team. I feel like I'm the dope in a forex market "rope a dope". My knowledge of Technical analysis stops at knowing that it exist. So I am wide open for learning about it. Would you mind pointing me in a few directions where I could get some education? I am not asking for you or anyone elses methods. I am hoping you can tell me where to go to get a good education. are there any books or people that you reccomend I study? I'm no Einstien but I can read, so I know I have at least the basis of an ability to learn. Just for the record I want to have a good understanding of forex and a complete understanding of the methods I choose to use. I am not very good at blind faith when it comes to money. If I am going to be successful I will need to be fully aware of what I am doing and what is happening. How do you compare learning from books and the internet with attending seminars or classes? I dont really deserve an opinion on the matter since I am so new but do you think that the old "those who can do and those who cannot teach" applies to trading also?
This post ended up a little longer and more begging than I had hoped so I hope I havent turned anone off to my cause.

I'd like to thank moneytec for helping me find people like TC and the other experts on this forum. Without it I'd really be up a creek without a paddle.

Chris

[xtsunami]

Chris,

There are many books availible to walk you through the maze of technical analysis. You can check amazon.com or Barnes and Noble. Both have a great selection.

I would recommend a book by Steven B Achelis called, "Technical Analysis from A to Z. " It is written to be an introduction and will give you head start in understanding the industry "buzz words."

If memory serves, he has a web site: www.equis.com that gives a quick synopsis of the same indicators as the book and better yet, it is free.

Many on the forum will have recommendations, this in my humble opinion would be a good place for you to begin your journey.

[cantrell24x]

xts

Thanks very much. I am going to go check his page out right now. If you dont mind me anking, was there any single educational tool that really gave you clarity? I have noticed that when i set out to learn something I can study for days weeks months or years and in every case all of a sudden one day it all just clicks and I have a clear understanding of what I had been trying so long to learn. It is usually one article or even one sentence that puts all the facts I have gathered into a new perspective and usually changes a lot of beliefs I had before that were wrong. Without fail my new outlook allows all the facts to blend together into a clear understanding. That is what I would really really love to find in my atttempt to master FX trading. So far the only thing I have mastered is, awe hell I havent masterd anything. Anyhow Thanks xtsunami for the help I am off to study.

May all your trades be winners

Chris

[moneytrader]

I am willing to work with you for free....if your interested email me at idnoname@yahoo.com....just fyi, you can check out my posts here under the name moneytrader
chow

[xtsunami]

Trading is all about recognizing a pattern in an indicator and going with it. Recognizing those patterns takes time and experience.

In my humble opinion, when these guys say, "I'll help you," take them up on it.

You will see different styles of trading...swing, trend, breakout, etc, but by being exposed to the different styles, you will find one that makes you say, "now I get it!" The light bulbs will go off.

Personally, I use a combination of exponential moving averages (EMA for short), Moving average convergence/divergence (MACD for short) and ocassionally fibonnacci studies. All of this in the context of 4 hour and 45 or 30 minute charts to determine trend and a 15 min for entry. What I see using those tools is different from what others see.

For example:

I had a position in USD/JPY yesterday am at around 2:30 est. Sold it at 119.75. Some got in at other times and still did well in the same trade using different tools and interpretations, but with the same conclusion. cha-ching.

Another trade EUR/$$ bought at 1.0495 in the afternoon on the Jan 9 with a vry tight stop loss. May target was in the 1.0525 range for the Asian session. The thought was good, the trade was not. Stop loss hit for a small loss before it went up.

You will find what makes sense to you, but only through study, hard work and experience.

Xtsunami

[MyWay]

Originally posted by xtsunami
Chris,

I would recommend a book by Steven B Achelis called, "Technical Analysis from A to Z. " It is written to be an introduction and will give you head start in understanding the industry "buzz words."

Here is a online edition of Technical Analysis from A to Z is reproduced here with permission from the author and publisher.

http://www.equis.com/Education/TAAZ/

Also take a look around Moneytec's book store to find other very usefull books to help in your quest......