Chariot Share Discussion Threads

[kash18] 23/2/2010 19:06

HI NAV/ ANT


Where do you see the DOW going down to, it's broken two of the support levels, i have 10196 and then 10140

[navyan] 23/2/2010 17:06

closed my short as well, heafty profit. this could go lower though.

[andonis] 23/2/2010 16:26

Closed my shorts again with heafty profit. All flat now as I am in transit and cant follow the markets easily. Excellent day.

[andonis] 23/2/2010 14:45

Closed my shorts too and waiting for better entry positions

[andonis] 23/2/2010 14:31

well done shorters. Bank what you can.

[axe79] 23/2/2010 10:52

Morning everyone,

Just closed out my short positions (ave 10421) which I held overnight at 10365.

Banked money and will short again later from a higher level.

[navyan] 23/2/2010 08:50

yeah kash, actually Tpaul was right, the link I gave above is the 'study guide', the actual link for the book is this:



thanks Tpaul.

also this book is good as well:



in terms of what stock to pick, I wouldnt like to give any trading advise, but IF you like to bet the price of gold is going to go up mid term then, can look into some gold stocks, watch any breakout from POG 'Bull Flag'.

[kash18] 23/2/2010 07:50

NAV

Thank you, i have read naked trader, Richard Pryor and middles of reading Dr Elder and will add this to the collection. I only bet very small amounts at the moment £1 maximum on indicies and £2 on stocks. even with these small amounts losses add up.

Are you into any stocks are there any to look out for.

THANKS , have a great day good luck to all on here, off to work now.

[andonis] 23/2/2010 06:54

good advise nav for kash

[tpaulbeaumont] 23/2/2010 03:09

nav - # 2759 you know that link is for the STUDY GUIDE, not the actual book?

[navyan] 23/2/2010 00:16

End Of The Correction
By Colin Twiggs
February 22, 2010 5:30 a.m. ET (9:30 p.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.




The correction appears over, with the Dow and other major markets recovering above recent highs. Long-term momentum, however, is slowing and we are unlikely to see a repeat of the heady gains from 2009. Short- and medium-term trading systems are likely to out-perform long term traders for the foreseeable future - until the global financial system returns to a sound footing, with no artificial support from central banks. It may be some time before we witness another bull market.

USA
Dow Jones Industrial Average
The Dow broke through resistance at 10300 to signal a bear trap, with a target of the January high at 10750. Reversal below 9900 is now unlikely, but would signal correction to 9000 - the base of the long-term broadening wedge. Twiggs Money Flow (21-day) respect of the zero line indicates buying pressure.

[navyan] 22/2/2010 23:17

kash, I normally use daily chart, and in terms of scale, I use log scale sometimes auto scale, depends whichever one fits better.

if you are interested in charting, I would recommand this book from John J. Murphy to start with:

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications: Study Guide (New York Institute of Finance) (Paperback)



it covers pretty much everything, a good introduction book and can also be used as reference book as well. if you need just one book in technical analysis, this is the book to have imo.

p.s dont trade Dow until you are very confident of what u doing and you can produce consistent winning trades. Trading index is V dangerous.

[kash18] 22/2/2010 22:21

navyan

yes i am , newbie to charts and trading, so i need all the help. What time scales do you use for these charts, my charts don't look at al like the one's posted here.

By the way my gut feeling is DOW will be up this week.

[andonis] 22/2/2010 22:17

Hitting the sack now ...c ya

[andonis] 22/2/2010 22:17

LOL. Are you Chinese? 'Confirmation indicator' LOL

[navyan] 22/2/2010 22:08

Cheers Sir. you are my confirmation indicator!!

[andonis] 22/2/2010 22:06

cheers cool kids! Nav this maybe alright. Yea....

[jamesiebabie] 22/2/2010 22:03

Bloody hell boys, 50 odd posts to catch up with. great charts and humour tonight. Keep up the good work.

[navyan] 22/2/2010 21:56

are u a lady kash?

[kash18] 22/2/2010 21:53

you lot make me laugh, maybe the only lady following your charts, keep it going t's great

[navyan] 22/2/2010 21:52

Ando, what do u think of this then... this is "important" :)

[andonis] 22/2/2010 21:42

al-right-o then

[navyan] 22/2/2010 21:41

u cant ban him just cos he is old man, that wont be fair.