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 Charting: Starting from Scratch

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yupyup



Posts : 10
Join date : 2008-09-17

PostSubject: Charting: Starting from Scratch   Wed Oct 01, 2008 1:41 pm

Just started using Ameritrades strategy desk and reading candles. A wise man said i could use basic candle analysis with the 20 day sma as as support and resistance line.

If I want to add 1 indicator to my chart, what should it be and how should I use it?

Thanks,

yupyup
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PostSubject: Re: Charting: Starting from Scratch   Sun Oct 05, 2008 7:45 pm

are we talking about intraday trading, swing trading, or longer term trading?

also there are different ways to trade... reversals, trend trading, momentum trading

by answering those 2 questions, it should be easier to answer your question Very Happy
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yupyup



Posts : 10
Join date : 2008-09-17

PostSubject: Re: Charting: Starting from Scratch   Fri Oct 10, 2008 2:16 pm

Appreciate the response. Intraday trading and Trend Trading. Remember, just one more indicator at this time! Thanks.
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PostSubject: Re: Charting: Starting from Scratch   Wed Oct 15, 2008 1:37 am

how about rsi?
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PostSubject: Re: Charting: Starting from Scratch   Wed Oct 15, 2008 9:32 pm

if i had to choose 1 indicator... i'd go with the good ol' rsi

set it to a lower period between 2 to 8 and then use it as an exit signal when it touches 20/80
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