Technical Analysis TrainingStock Market BasicsTechnical analysis training is an important part of learning about the stock market for beginners. Technical analysis of stock trends is a critical part of stock market investment research. You don’t have to take an expensive course to learn technical chart analysis. You can learn it on your own using books and internet articles. I am a profitable trader and this is how I did it. I read technical analysis books and looked at free technical analysis charts online. Looked at might be misleading. What I actually did was I poured over chart after chart after stock chart in an attempt to identify various chart patterns. Once I thought I had one nailed down, I would either paper trade the shares or execute a live trade (I’ve never liked or been much good at paper trading) in order to put my new knowledge to the test. Over the course of a few short months, I learned which chart patterns I was good at identifying and which I wasn’t. I also learned how to use a few technical analysis indicators with good results and which ones would not work for me.
The Low Down on Trading IndicatorsThere are lots of these. Too many.But don’t let that make you nervous, you can trade stock profitably without knowing how to use them all. Most traders use just a few. Which few? That depends on the trader. I cannot unequivocally state that every technical analysis indicator ever invented works; I haven’t used them all. But I know of enough successful stock market traders who use different indicators than I do to feel confident in stating that they work. There’s no need to worry about choosing trading indicators that don’t work. It’s more a matter of finding the ones that work best for you. This is what your technical analysis training will focus on. Read up on different technical analysis chart patterns. Study the ones that make the most sense to you in greater dept. I was drawn to candlesticks, so I studied that. I never got too deep into it, but I still like them and use a few of the simple candlestick patterns to confirm buy and sell signals. I also like double tops and double bottoms as I find them easy to identify. I especially like the elusive Adam and Eve double bottom. I warn you, this is addictive. Once you train your eyes to pick out your favorite technical analysis chart patterns, you will get all excited and want to start trading them right away. Try to reign yourself in. It is best to combine chart patterns with technical analysis indicators. Use the indicators to confirm the buy and sell signals you get from the chart patterns. You learn how to do this the same way you learned the chart patterns. Read stock trading technical analysis books and articles. Don’t struggle to grasp the explanations of the more convoluted trading indicators. You learn the stock market basic little by little. Take small bites. The important thing is that you put whatever knowledge you gain into action. If you don’t understand the MACD indicator, skip it for now. Focus your technical analysis training on the volume indicator or simple moving averages. Those were the easiest for me to understand and use. And they are two of the most important. Once you have a good grasp of how to use your favorite chart pattern in combination with at least two stock trading indicators, you will have had enough technical analysis training to start paper trading. I would urge you to wait until you have some knowledge of fundamental stock analysis before you begin to take live trades. Technical stock analysis is more widely used but, in my experience, it takes both types of analysis to keep your money safe in stock market investments.
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