Technical Analysis ...

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Yippe-Ki-Ya

New Member
Id appreciate recommendations on the following:

1. Im looking for free video based training materials on technical analysis. Im assuming it does not matter whether the context is shares, CFDs, gold or any other price data? The technical analysis techniques should still remain the same?

2. Im also looking for software (freeware if possible) which can load data of any sort (shares, gold, CFDs, whatever) and then can have various technical analysis techniques applied to said data...

apologies in advance if something im saying does not make sense, as I dont know anything about technical analysis, but am keen to learn!

thank in advance
YKY
 
pretty sure etrade has all you want, simply register and voila!
 
I dont think the guys who are really good at technical analysis would want to share exctly how they got trained and what tools they use.

after all if you were making money like that would you want to make it easier for others to do the same?
 
Yippe to be a Paper Panzie? Am I reading this right. Bwahahahahahahahahahah!!!!!!!!!!!!!!!!!!!!!!!!!!
 
Yippe going back to shcool :lol:

SHCOOL-Mispelled-Sign-in-NYC.jpg
 
Im looking for free video based training materials on technical analysis.
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One source is YouTube - just search 'beginner charts technical analysis', or some such wording. There's heaps of them. Somewhere in there will be the best, but no idea which. Here's a link to one who is casual; wordy but seems ok:
https://www.youtube.com/watch?v=PugasMebxmg
There's a series of ten that he does. Accessible from the side menu or on his channel.

Im assuming it does not matter whether the context is shares, CFDs, gold or any other price data? The technical analysis techniques should still remain the same?
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This is correct

Im also looking for software (freeware if possible) which can load data of any sort (shares, gold, CFDs, whatever) and then can have various technical analysis techniques applied to said data...
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Yeah hiho's suggestion, and I think any online broker will provide the 'freeware'. I prefer to use bigcharts for equities, out of habit:
http://bigcharts.marketwatch.com/default.asp?siteid=&avatar=seen&dist=ctbc
For Australian stocks you use the prefix au: then the normal stock code. For example BHP is au:bhp
Then you'd best use the ' advanced chart' red button

Yahoo Finance charting function seems ok. Here you use .ax after the code. For example BHP is bhp.ax
http://au.finance.yahoo.com/echarts?s=^AORD#symbol=^AORD;range=1d

Play around with it and develop your intuition is best I can suggest, but everyone is different. A nerd might prefer a sophisticated highly mechanized platform, but don't forget punters were doing this stuff long before computers. A simple approach can get you results with experience, but you have to 'work' within your interest aptitude and capabilities.
 
capt.sparrow said:
after all if you were making money like that would you want to make it easier for others to do the same?
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There is plenty of room in the markets for anyone.
Everyday, over 6 trillion bucks worth of trades take place - if you put your hand out, some of it has to stick.
 
I can't help you with learning TA, but here's a free, (or very cheap for the Pro version), yet very good charting program:

http://www.spacejock.com/FreechartsSE.html

It gets its data from Yahoo, which I've used for the past 7+ years with no problems. You can get US/UK/Aus and whatever else is provided by Yahoo for free, or you can pay for data if you want more obscure markets. There's a forum for assistance with the program but its not very well monitored. Nevertheless, it's a good package. You'd chart GLD for gold, SLV for silver, etc, etc. Not the same as the actual physical I know but you can still derive the same info from them as far as TA is concerned.

TA does work, but sometimes you have to suspend your disbelief and just follow signals mechanically. The problem with TA is that just about all indicators are correlated to price, and as such are following indicators.

If you want to start trading futures I can be much more specific in what you should use.
 
Bargain Hunter said:
Technical analysis a.k.a. squiggly line voodoo that stuff always makes me laugh. No different to tea leaves or astrology.
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I would suggest that T/A is actually based on the only fact that can be varified as true - that being price data. Price does not lie. Some would suggest it may be synthetic or manipulated, never the less it is fact.
What makes me laugh is that those dumping on T/A often aspire to be fundamental prophets, where analysis is based merely on selective, skewed, or biased information coming from the media (be it true or not), and then interpreted into academic hypotheticals of what should be, but often not what is... to me there is more voodoo and tea leaves involved in fundamental analysis, and the forcasts are testament to this.
 
wrcmad said:
Bargain Hunter said:
Technical analysis a.k.a. squiggly line voodoo that stuff always makes me laugh. No different to tea leaves or astrology.
Click to expand...

I would suggest that T/A is actually based on the only fact that can be varified as true - that being price data. Price does not lie. Some would suggest it may be synthetic or manipulated, never the less it is fact.
What makes me laugh is that those dumping on T/A often aspire to be fundamental prophets, where analysis is based merely on selective, skewed, or biased information coming from the media (be it true or not), and then interpreted into academic hypotheticals of what should be, but often not what is... to me there is more voodoo and tea leaves involved in fundamental analysis, and the forcasts are testament to this.
Click to expand...

Who said that fundamental analysts rely on media information? That is a fallacious assumption. A good fundamental analyst relies mostly on primary information such as company annual reports, competitor company annual reports, talking to management, customers, employees and suppliers, using or testing the product, reading industry trade journals, looking at trends in overseas markets, etc not what bloomberg, the AFR or the wall street journal report. Besides fundamental analysis is not about being prophetic or having foolproof forecasting ability. It is about playing the odds. Because stocks overall have on average a well documented upside bias coupled with the fact that a stock can only go down 100% but go up an unlimited amount means that a fundamental analyst who is right 60% of the time can still massively outperform the market. One Cochlear, CSL, Resmed or Dominoes Pizza more than makes up for a bunch of dud picks.

If fundamental analysis is voodoo how come practitioners like Warren Buffett, Benjamin Graham, Peter Lynch, John Templeton, Phillip Fisher, T. Rowe Price, Tweedy Browne, Walter Schloss and countless others have outperformed the market over a long period of time using a purely fundamental analysis approach? As for the argument sometimes about Warren Buffett outperforming because he is a control/strategic investor or has access to special deals he was outperforming the market massively when he was in his 20s well before he had the financial firepower to have control or access to special deals.

Name one billionaire who didn't lose their fortune after making it who has made their fortune purely from technical analysis without the use of any fundamental analysis whatsoever? Is that the sound of deafening silence I hear?

It is an insult to real (a.k.a. fundamental) analysts to even call that squiggly line voodoo crap "analysis". Please refrain from even referring to it as analysis.
 
Bargain Hunter said:
wrcmad said:
Bargain Hunter said:
Technical analysis a.k.a. squiggly line voodoo that stuff always makes me laugh. No different to tea leaves or astrology.
Click to expand...

I would suggest that T/A is actually based on the only fact that can be varified as true - that being price data. Price does not lie. Some would suggest it may be synthetic or manipulated, never the less it is fact.
What makes me laugh is that those dumping on T/A often aspire to be fundamental prophets, where analysis is based merely on selective, skewed, or biased information coming from the media (be it true or not), and then interpreted into academic hypotheticals of what should be, but often not what is... to me there is more voodoo and tea leaves involved in fundamental analysis, and the forcasts are testament to this.
Click to expand...

Who said that fundamental analysts rely on media information? That is a fallacious assumption. A good fundamental analyst relies mostly on primary information such as company annual reports, competitor company annual reports, talking to management, customers, employees and suppliers, using or testing the product, reading industry trade journals, looking at trends in overseas markets, etc not what bloomberg, the AFR or the wall street journal report. Besides fundamental analysis is not about being prophetic or having foolproof forecasting ability.
Click to expand...
Fair enough.
Would you care to point me in the direction of the annual report, competitor annual report, management, employees, etc. of silver, gold, or any currency?
Or "Is that the sound of deafening silence I hear?" :P
 
southerncross said:
TA really nailed the GFC right ?
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Yep.
I picked it, but was 4 months early.
Gave a presentation at work in May '07 advising moving super to cash as T/A was indicating the All Ords was due to halve from 6000 to 3000.
Most scoffed that it was not going to happen - over the next 18 months those same people then came and told me they wished they'd heeded the warning.
Some of those were due to retire in the following couple of years, and it cost them a few more years of working to make up the shortfall in their super. :(
As for me, made shyteloads and laughed all the way to the bank shorting. :D
 
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