CHARTING... reading the
footprints in the sand using candlestick charts.
You can't fake this, either you know how to
read chart patterns and indicators or you don't. That's
what coaching is all about.
spend a lot
of frustrating time learning chart reading. What,
, is important to
look for, avoid, and watch? The problem with trying to
learn chart reading just from books, or websites is that
you can't get the feel for the morphing action
that charts produce as time passes and new patterns
You make trading decisions from the right edge of
the chart, not somewhere in the past where you've
identified a pattern.
Reading candlestick charts and proper
interpretation is the life blood of any trader.
You can't fake it and you can't guess at it.
Stock market charts are dynamic, fluid, morphing,
living things that upon observation one can "see" the
human behavior therein.
Books, CDs, videos can't teach you tható a trading
coach will. What good is seeing a pattern
after it has developed? Anyone can see them in past.
A trader needs to see it as it happens and
usually before it happens.
Being able to see a pattern
in the past is as useless as a bike without wheels.
Why? Because you make decisions on the right edge of the
chart while a pattern forms.
You need a coach!
Know How, Why, and When To Blend a Chart? Buy the
pullback? Short the rally? Play the earnings? When is a
bullish chart bearish and a bearish chart bullish? Do
you understand 3-D charting? When are certain indicators
more useful than others?
I know that most men would prefer having a root canal without
Novocain than stop and ask for directions. After all, if there's
gas in the tank, a man is never lost. Women know to stop and ask
for directions. However, in the stock market the man's logic can
be fatal to his trading. Wouldn't it make more sense to use a map,
which traders call charts, to "see" where the sentiment is regarding the
stock price going forward in time?
Traders have memories about price action (I know
I do) and those memories are forever printed in the form of a chart
detailing where traders bought and sold out of
fear and greed. Some of those memories are delightful (past
profit at that price level) and some are painful (losses when bought at
that level). Is it any wonder a major aspect of chart reading has
to do with support and resistance levels? Traders learn to trust their
charts because, in the end, the patterns are more right than wrong thus
putting some of the odds in your favor. The charts are telling us
fear and greed is located. Do
you think that might be helpful? Bet on it!!
< Bullish >
The multi-day patterns shown in Step 1 will develop into larger more powerful
patterns shown here >> Chart
You can read, study,
and re-read these pages, but
you will still need a
trading coach to sort it all out
regarding How to use these,
When to use these indicators,
and Why. That's
what experience is all about... and if you
don't have it, as they say, "They see
Use both the chart
and the off-chart
checklist for a long or short trade.
Technical analysis is a terrific tool and
even more effective when combined with
Indicators are you life
blood, your oxygen as a short-term trader. You can't
fake it because what you don't see in the charts puts
you at a disadvantage if other traders do see something
setting up. If you fall for what you see, meaning taking
the trade, while ignoring what you can't see due to
lack of knowledge... guess which side of that trade
I suppose that school of
expensive hard knocks is one way to
learn... but it doesn't have to be.
You will also see all of this at work
live every day in the
Room. I'll show you exactly what you
may not see in the charts and you will
understand what I mean by "you can't
is not responsible for any inaccuracies and subsequent
errors from any information you receive from these
outside links. Furthermore, this is not an
endorsement of their products or services. Government
regulations require disclosure of the fact that while
these methods may have worked in the past, past
results are not necessarily indicative of future
results. While there is a potential for profits there
is also a risk of loss. There is substantial risk in
security trading. Losses incurred in connection with
trading stocks or futures contracts can be
significant. You should therefore carefully consider
whether such trading is suitable for you in the light
of your financial condition since all speculative
trading is inherently risky and should only be
undertaken by individuals with adequate risk capital.
Neither wallstwise.com nor John Robichaud makes any
claims whatsoever regarding past or future
performance. All examples, charts, histories, tables,
commentaries, or recommendations are for educational
or informational purposes only.