HOW TO LEARN TECHNICAL ANALYSIS BY SELF

Part 1
There are lots of website giving technical analysis knowledge .There you click the education
section.But one can visit the followings:
1. www.stock-market-strategy.com
2. www.finvids.com
3. www.trending123.com
4. www.chartpattern.com
5. www.incrediblecharts.com
6. www.tradingauthority.com
7. www.elliotwave.com
In the beginning visit first two websites.
Now don't be panic by the list.
I am making it easy for you.First and formost you know what are the main basic components of a
stock chart.They are either line chart or bar chart or candle chart.Candle is the best.So you first
study and learn Japanies candlestick ,their formation ,and various formations.When you have
learned Japani candlestick completely then study about Moving averages(Simple moving
averages/Exponential moving av.) and thenBollinger band.
When you have learnt all these things then revise them for one or two wks.If you feel confident
then study and learn the followings in their given order:1. INDICATORS (1. Slow stochastic and RSI 2.MACD)
There are many other indicators but don't bother for them.Other indicators could be learnt
later(like ADX/ATR and so on)
VOLUME INDICATOR

Learn how to draw TREND LINE. TREND IS YOUR FRIEND !!

Now learn how to draw SUPPORT & RESISTANCE levels in a given chart

CHART PATTERNS (e.g. Double bottom or W pattern,Double top or M pattern,head

and shoulder pattern ,inverted head and shoulder pattern ,round bottom ,cup with handle
,triangles and so on.............
Study DIVERGENCE: These will give you early signal of trend reversal which will be
very handy for traders /investors.Many of the times it occurs when the Corrective waves
A,B,C of Elliot wave completes and then it starts a fresh journey upward /downwards as
the case may be
When you have learned them please revise them again and again so that you can find them
out.When you learned them please send me your charts..If you can find out the chart patterns or
candle stick patterns and analyse their implications for the stock then you have done great !!
Now you are ready for next level.Now learn followings:1.FIBONACCI RETRACEMENT / EXTENSION(Retracement is good enough) .Because
the stock usually takes support at different Fibonacci retracement levels.But it can best be
used with Elliot wave analysis.
2.ELLIOT WAVE ANALYSIS: You can download book on this from www.elliotwave.com

MUST SEE tutorial in Elliot wave analysis:

1.Open you tube.
2.Type Advanced Elliot wave Tutorial by Nick Radge in the search box and then search.
Then you will see the fantastic tutorial by Nick Radge.See all the videos by him.And you will
thank me for telling you this !!!
This is a bit complicated thing.But with patience and time one can learn this also.But
because it becomes subjective from person to person sometimes and this can give rise to
problem.So be careful in this .But this is very powerful tool and does not require any
indicator whatsoever.
Even if you don't learn this you will earn most of the time if you apply the above
knowledge with full discipline
!!DISCIPLINE IS THE KEY WORD FOR SUCCESS IN STOCK MARKET !!!
Continued
Part2
For FREE end of the day charts I am prescribing two websites :
1.
www.chartnexus.com
2.
www.chartink.com
For free intraday live charts you can visit www.googlefinance.com
If googlefinance is not giving live charts then you have to buy any software of your choice.
You can search YOU TUBE also.Very good teaching material available.Type the main word and
click...you will see lots of options the select any of them and watch.For example;Type"Candlestick analysis in stock market"or "Candle stick chart Pattern".
Even now if you want to buy books then look for :1.NEW CONCEPTS IN TECHNICAL TRADING SYSTEM by J.Welles Weilder
2.ENCYCLOPEDIA OF CHART PATTERNS by Thomas N.Bulkowky(You can even
download the old version from the websites free of cost)

MOST IMPORNTANT THINGS TO REMEMBER:

Success in trading is not only possible by good technical analysis.Technical analysis is
responsible only for 10 % of the success.But however it gives you the insight of the stock
movement.For success in trading experts say the responsible factors are:1. Technical analysis (10%)
2. Good money management(lot size/Entry/Exit with stoploss/Exit with target and so on)
(35%)

3. Trading psychology (55%)

4. Besides all these please study some strategy for trading
So besides learning technical analysis you have to learn how to control your emotions
when trading and how to manage your trades better.Because for success you need
discipline of applying good money management technique to your technical analysis.And
this needs very sound control of emotions.Sometimes emotions get over your chart
analysis and you become unable to follow your own analysis quite well and the result is
disaster !!
When ever any of my followers need assistance in chart analysis.Please send an email along with
chart in my email id: niceworldalways@gmail.com
But please learn first and dont send stock enquiry only.Attach the chart with your drawing in it.
MY INTENTION IS NOT TO GIVE TIPS .RATHER MY INTENTION IS TO MAKE EVERY
BODY LEARN TECHNICAL ANALYSIS !
Regards
Niceworld