BIT Charting, page-371

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eob18

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15/10/23

11:16

Post #: 70350914
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Originally posted by slick: ↑

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

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That is great advice and down to earth @slick

Many would be wise to let that soak in, instead of listening to the get rich quick brigade or doom and gloom hand your shares over troops.

There are many on here appreciate your posts, if the rerate comes after positive news flow, you observations will be valued.

Enjoy the rest of your Sunday!

BIT Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 2.1¢		Change -0.001(4.55%)		Mkt cap ! $18.94M

Open	High	Low	Value	Volume
2.2¢	2.2¢	2.1¢	$18.57K	870.2K

Buyers (Bids)

No.	Vol.	Price($)
8	387100	2.0¢

Sellers (Offers)

Price($)	Vol.	No.
2.1¢	142207	2

View Market Depth

No.	Vol.	Price($)
8	387100	0.020
10	1487631	0.019
9	516054	0.018
4	408000	0.017
12	1656225	0.016

Price($)	Vol.	No.
0.021	142207	2
0.022	151019	2
0.023	240000	1
0.024	222185	3
0.025	600000	3

Last trade - 12.37pm 30/10/2024 (20 minute delay)

BIT (ASX) Chart

BIT Charting, page-371

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BIT Charting, page-371

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