Ep 128: Technical Analysis - Comparing Volume & Looking at Strength
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Posted at: http://tradersfly.com/2017/03/ep-128-volume-strength/
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I was particular looking forward running into this topic since you references a lot on your past videos the important of volumes. Overall I think it's one of the most valuable videos for myself that I've watch. In general watching these videos really helps guide me to developing my style of trading, fundamentals, and confirmation of directions for me to take. Overall watching these videos building my mentality, self awareness, and perspectives towards to be a better trader. Thank you!
P.s. also pretty cool to know someone gifted me a book 5 years ago that you recommended to read "how to make money on stocks by william oniel"...never got a chance to read it till now.
Sasha, I watched your videos about volume several times, and I started to do some practice, but I can point to you so many examples that following the exact technique that you showed here (e.g. at 28:12) it just doesn't work. I came across so many examples that I see the exact price/volume actions, but it breaks out of the resistance. I am not saying that you cherry picked the stocks, but it just happened that it works......
I really want to get better by reading the volume, but I don't know, either you need to show us other Volume techniques. Because simply looking at the price volume dying, or price breaking out of support/resistance with a huge volume, and ABCD pattern, don't work all the time.....
I recommend his 245 charts for swing trading book- its 245 charts he breaks down like this. I have been through it multiple times, it is a great tool for training your brain to pick out the important information in these charts. -- and there is a second version for shorting as well
I trade mutual funds. How do I pull up volume in the charts? Can I use PMO? What technical indicators should I use in my CS charts? Great education format. I've been following you for sometime now. Thanks.
Sasha also has a video out there the will explain the difference in mutual funds which is more for long term investments and individual stock investing. There is a big difference and you have to figure out how much time you are willing to invest, what type of investor you area and how aggressive you want to be in your investments.
Little harder trading mutual funds. Not sure which platform you use but Scottrade has some nice charts. I personally like to use the VIX as my indicator on the direction of the market. Sure Sasha will have others for you that might fit your investment strategy. Search in his videos for indicators, I know he did a video on it a few months back. If I remember and have some time I will see if I can find it and pass it on. Good Luck you!
Putting the time and energy into something. Similar to how some kids can play piano in an incredible way by the time they are 9 years old... The thing about trading is you have also include personal reflection and self awareness.... Thank you for watching the videos.
The School of hard knocks David will teach you a lot. Make sure to go through his videos and you will learn a lot. But it does you no good if you don't put what you are learning into practice. Get busy and good luck to you.
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