BIT Charting, page-369

Hey there Chocolate,

Good on you for taking it on, it is certainly rewarding but I warn you it’s addictive.

IMO overnight success on TA takes a few years and many many hours are spent pouring over basic TA principles as unless those principles are mastered then it’s an uphill losing battle. And that’s where I find most fall away. They want to jump straight into buying a 100k units of a stock at 11 cents and sell it at 12 cents a few hours later purely based on TA indicators but aren’t prepared to gain the knowledge and experience to do so. Human nature I guess so I get it.

But if you’re fair dinkum, then I’d suggest spending a lot of time on YouTube and in the first instance search support and resistance and learn all about that as it’s quite a vast TA topic and very under-estimated IMO. There are many indicators used to define support/resistance so to get your head right around just that would be a huge first step. Don’t move onto other things unless you’ve mastered that.

You are going to need a TA program and there are many out there and most would be good to start with (and I think are free) but eventually you are going to need a full platform and there’s only a few worth looking at IMO.
Personally I use Iress Viewpoint through Commsec, it’s a fully service platform and offers everything ASX related and easy to use with excellent back up.
But in the first instance I’d be just jumping on one of the free sites while you’re learning the basics and advance to something more comprehensive at a later date.

One of the most important things to set as a rule when learning is to only learn the craft and practice trades with blanks, no live ammo. Meaning you’re not to use any real capital while learning to trade.

Seen it with so many groups when I’ll-prepared traders lose their capital in the first few months, just weren’t prepared and skipped many chapters in the learning program.

Books are great to, I’ve got a library full of them but in the first instance jump on YouTube, spend 5 hours and see if you like it then tag me in somewhere and I guide you further.

Cheers