Trading P.I.T. Club Lesson on Chart Reading
The Basics
This week's lesson is again focusing on full understanding and comprehension on the core skills for being a solid trader.
When things lack meaning, then they are of limited value, and it creates an emotional liability when you rely on things which are not thoroughly understood.
As we've previously reviewed both the words and the numbers of trading, meaning is essential when it comes to looking at the charts and indicators.
This lesson comes from a colleague of mine who put together this presentation on chart reading. Rather than duplicate his work, I asked him to let me use it because it is very good and straightforward.
Regardless of where you are now, it is always worthwhile to review. Even if you're already strong in this area, you may learn something new and useful, if nothing else from getting a different perspective on the subject.
Introduction
Section 1
Section 2
Section 3
Section 4
Section 5
I've kept these as individual files for your convenience. You can download them if you like and have them on your hard drive for later viewing.
I also specifically did NOT put a player on the page here because as wmv files, this allows you to open them in Windows Media Player, watch them in full screen if you like, plus change the play speed to fast if you choose.
The files are somewhat large, so depending on your internet connection, it may take a bit for them to download to your machine for viewing.
Now John does an excellent job in these videos of covering a lot of ground in a fairly short presentation, and he doesn't race throught it. If his casual pace is a bit too slow for you, then you can change the play speed to fast by clicking on "Play" in Media Player, then "Play Speed", then click on "Fast". You can also simply press "Ctrl" + "Shift" + "G" for fast playback, or "Ctrl" + "Shift" + "N" to switch back to normal speed.
Your assignment for this week is simple: watch these videos and make sure that you are comfortable with your chart reading and use of indicators.
Cheers
Brian