SUPPORT AND RESISTANCE

TODAY WANTED TO DELETE SOME OLD STUDIES AND DECIDED TO HAVE A SECOND LOOK AT SOME OF THE SUPPORTS AND RESISTANCES I DID ON 23RD MARCH 2012.

GUERILLA TRADING?

LET’S STUDY IF WE CAN MAKE A KILLING TRADING GUERILLA STYLE OR WILL IT KILL US?  BELOW ARE SOME OF THE COUNTERS TAKEN FROM STARBIZ ANALYST REPORTS.  NOT ALL COUNTERS WILL HAVE THE SAME PERFORMANCE , THAT IS, NO SINGLE SYSTEM IS SUITABLE FOR TRADING EVERY COUNTER. 

SCANS

DID SOME SCANS BUT HAD DIFFICULTY FINDING STOCKS WITH STRONG TREND.  MAYBE CAN MONITOR SOME OF THEM. THOSE WITH STRONG BULLISH TREND HAVE ALREADY GONE UP AND TRADING THEM WILL BE LIKE JUMPING ONTO A SPEEDING TRAIN.

JUPITER'S 260512

ATTENDED JUPITER'S MARKET CHAT IN PENANG THIS MORNING AND THEIR TA ONLY HIGHLIGHTED THREE COUNTERS, NAMELY BRAHIMS, MFLOUR AND I THINK WTK.  I USUALLY GET MIX UP OVER WTK AND WCT.  AGE IS CATCHING UP ON ME AND TELLING ME TO DO MORE CHART ANALYSIS TO AVOID BECOMING SENILE.  ANYWAY I WILL ONLY SHOW WTK WHICH I THINK IS THE COUNTER SHOWN BECAUSE OF THE PRICE PATTERN.

THE MIDDLE PATH IS THE BEST OF PATH!

Earlier this evening my friend complained that my chart is very confusing and complicated.  I think he wants to be spoonfed. Maybe this chart will be to his liking,

 but then he would have missed out on a lot of information to help him make a decision.

 

To quote Robert Miner:  “As the late Bruce Babcock, editor of the Commodity Traders Consumer Report, said, “You can’t buy success.”  If you want to be successful in the business of trading, you have to take the time to gain the education and experience and make your own decisions.  Sounds like every other business doesn’t it?  That’s because it is.  If you are willing to learn to make logical decisions based on relevant information, you have a good chance to become a successful trader.  If you believe you can buy success through a trading system or any sort of automatic price or time system, find a deserving charity for your trading funds instead of donating them to the educated, serious, and successful traders.  Because if you think you can buy success, you are in for a very expensive lesson.”

STOCKWATCH

One Hand or Two Hands Better?

Trading equities (stocks) is like fighting with only one hand whereas index and futures is like fighting with two hands, can go long or short.

AN OLD PRINTOUT

THIS MORNING FOUND SOMETHING WHICH I PRINTED MANY MANY YEARS AGO.  LIKE I SAID, NOT ALL COUNTERS ARE WORTH TRADING.

SOME COUNTERS TO STUDY AND MONITOR 210512