Friday, October 26, 2007

How i started learning technical analysis

For TH and those who wanted to find out a little more about technical analysis.

I started off with investopedia, a pretty comprehensive (lots of topics to start you off, but brief) website that teaches you lots of things briefly. It's enough to whet your appetite to find out more (if you want) and it's pretty easy reading. When starting off with investment, there's a mountain of jargons that you will come across, so this website is very good as it uses and explained all the terms you'll come across again and again.

I basically printed the basic fundamentals and kept it in my file for reference. Pls devour all the articles in this website. When you're ready for more, just read under the section "tutorials" and go on to the experienced investors and so on.

Investopedia is not strictly a webbie about technical analysis. It's a pretty general website about investing, so it's a good start.

I knew nothing about TA until I went into warrant trading for HSI. I was then interested in finding out how to buy at bottom and sell at the top. This is where the chart analysis website comes into place. Very good for learning technicals analysis (basics), chart patterns, candlesticks, and very importantly, support and resistance level.

Read and learn accordingly to the order. Practicing what you learnt is a must. You can learn to ride a bicycle by reading, same for TA too. Get a good charting software - highly recommended and free Chartnexus - and start drawing straight away. If you have questions, do feel free to ask me, i'll try to help if I can.

I basically learnt all that before going to decipher's course. Decipher helped me piece up all the bits and pieces together, so I understood the link between all the pieces of evidence. Oh, I also bought a TA book somewhere in between all these: the name of the book is by Martin Pring: Price pattern. Quite antique, but nevertheless useful.

1 year and a half later, this is where I stand now. Not very good, but no longer fearful of reading charts.