"...but that's the art of reading charts isn't it, where you draw the lines, what period of time you look at, etc..."
For me, I use what are called "swing" highs and lows to look for support and resistance. A swing is defined as a movement in one direction for a period of days. Others might mark support and resistance off moving averages, trendlines or even candlestick patterns. Also, I know that you are trading options, so therefore, your time horizon is not a period of weeks or month, but hours or days.
"Will your chatroom lessons require staying at home all day and watching the market for 2 weeks?"
It will be in real time during market hours, so yes, you have to watch it all day. It's the only way to get the feel, and learn how to draw lines, recognize patterns, etc. on the fly. With books, you see everything done after the fact. This is why people can't make the transition between the pages of the book and real life. There's only one way to get prepared to trade, and that's to watch the market unfold in real time. Even if you trade at the end of the day, it's still unfolding, but in an ever so slow motion.
Teresa |
