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Strategies & Market Trends : Technical Analysis - Beginners
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To: julianne carol grimes who wrote (9151)2/5/1999 8:12:00 PM
From: Richard Estes  Read Replies (1) of 12039
 
I am going to answer but not answer. Not because it is a secret, I love to share. I am always bothered by establishing a mode of operation because I never know who will use it and how. See there is no way to know the audience. How much risk they can take? if they understood directions? What their goals are? Time frames? Experience? so I tend to generalize for their sake.

Since August of 1997, I have seen a volatilty in the market that calls for short term trades. My indicators are all short term for exit/entry now, many on real time bars. Short term trading isn't for beginners. When I know the person is a beginner, I mention Dahl or MACD(13,34,89) as a good indicator to follow. Praying that they keep the damage to the smallest amounts with less risk.

Murphy writes a good book. His mindset is directed towards the investor. I think I read support and resistance as good as any, but I use Fibonacci and Gann for a more objective measure. Even the choosing of S/R levels depends on the mindset of the individual. I use Advanced GET for most of my S/R work. I quit looking for triangles, H&S, etc. a long time ago.

Now the answer, read the 1000s of posts in TA-beginners and TA-indicators, there is a wealth of knowledge there.

Making things simple - if it were simple everyone would do it successfully.

But a simple statement that rings with truth is "It all is a matter of expansion and contraction".
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