Here's a comment on the weekly looksee stuff. I would suggest to you that if you see something on the weekly, that you could see it just as easily on a daily say on Saturday morning. The weekly generally are tied to Fridays and have no flexibililty. I took a break in the 60's and lived in Switzerland for a while. This is like having to look at weeklies in that era. there just seemed to be a remoteness fron the NYC scene. To do investing, and make daily entries under conditions that you can't look at the market is not a problem. Not a problem at all. You can decide in the evening and just call in your stuff. I did that for three years when I was just out of college in the late 50's. I was only making 10% a month as a beginner. I reached my salary level in paying commissions within three years (Think fast track engineer/writer at IBM). You can use the DAL and the assessment sheet to learn how to operate a universe. I attached the scoring graph to this so that you can see the Price, Volume and A/D relationships. Once you start seeing cycles as a count down basee on anticipation everything changes for you. You have to not predict and you have to have repatable high quality stocks in your universe.
Here is the score value chart. The 1 and 0 thing is the simplest way to assess Price, Volume and the A/D status. Binary lends itself to programming as well. As you can see up is 1 and down is 2. The A/D is either one or the other. B of P on TC2000 is the kewlest A/D indicator. CANSLIM on IBD works too. They use letters a through E just do it by grouping the letters for A and the letters for D. Fortunately the easy way is to just say whe is the IBD rating nearest to. Its either A or D. lol. Obviously, I am relating this to you the way fifth graders tell me they do it to make money. fifth graders think this stuff is more fun than anything else in the world. They have only one reason!!!! They make more money than their parents do when they paper trade. This phenomena is a psychological paradise to witness. Everyone here can see which people would be been to a pulp by their kids. The question is how can a parent learn to do investing better than an above average fifth grader???? How do older people get soooo screwed up like some are here???
Thanks for starting this thread dbphoenix and for all your input and you too jack hershey especially. Much appreciated. This type thread represents to me some of the best ET has to offer with traders genuinely trying to help each other out offering to share their thoughts and skills with other traders. That's what these forums should be about rather than all the ragging on one another and insulting one another of some of the other threads. These threads work best it seems when we're here to help each other to do better in the markets and support one another in dealing with all that's involved in those endeavors. And also have some fun and enjoy one another's company along the way.
I agree with BCE. Jack and Db have been real kind and accomodating with regards to sharing their knowledge and experience. Thanks Jack for the explanation, very clear, not to mention pretty philosophical too.
The humor..did you see the humor??? I am soo disappointed. seriously, thanks for your comments and those of the prior poster person as well. a set of posts that compliment these is at Technical analysis under the thread "any advice for a beginner short term trader" They are oriented to stocks but there is a parallel in some of the analysis stuff.
No humor there Jack... maybe I phrased it wrong. What I meant to say was there was also quite a bit of philosophy in your words, which kinda leads me to believe that you are one of those 'thinking' people. Anyways, today was a good trend day. Which hopefully we could use as an example for guys like me to learn. If you were looking at the ES or the NQ where would the sensible exit be following the use of trendlines, and somewhere along the way as the mkts went up there were pretty good pullbacks, any signals from those pullbacks that differed from the pt where the rally slowed down? Thanks again for all your help.