I want to learn more about the technical analysis, and especially the breakaway gap modle. When to buy? and when to sell?
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Technical analysis is but one of several ways to invest. And regardless of how you trade, no method will ever be 100% successful in predicting trades.
That said, there are ways to make money. Most successful traders use a combination of methods (like fundamental and technical analysis).
Steve Nison does a decent series on candlesticks. His website is candlecharts.com.
You can also go to americanbulls.com to see candles and interpretation in action. You’ll see they do pretty good at interpreting patterns..
There are also several books that can help. Those might include a technical analysis course by Meyer. Or Visual Investor by Murphy. Mike Coval also has a pretty basic book that talks about gaps, etc.
You can also learn from education companies such as investools.com
It’s funny some of the answers you get/got. I love technical analysis, though I do use it with some other factors to increase my probability of success.
Not to be mean, but there’s a reason you don’t find very many very rich professors (other than consultants and authors). In school, they don’t necessarily teach you how to invest/trade. If you look at the most successful traders; most didn’t learn their craft at business school.
And just so you know, there are some technical patterns that do follow through with well above 50% probability.
Today (Dec 5th), I find myself already in WYNN, ICE, ATI, BIDU, and a few other stocks that I’m happy being in. And I face the task of deciding whether to lock in profits from my technical trades or risk a portion for even greater profits.
People are creatures of habit and because of this patterns often not only develop, but repeat themselves as well.
Hope that helps!
(P.S. And I do love MIT and business school. I actually did my undergrad at Sloan/MIT. I just disagree with some of the other answers).
Hi,
I don’t know about websites but I’m sure you find all necessary information and could create your own trading system from those books:
Market Wizards by Jack D. Schwager;
Technical Analysis by Jack D. Schwager;
Comprehensive Course on The Wave Principle by A.J. Frost and Robert Prechter;
Candlestick Charting Explained- Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris;
Trading Chaos – Applying Expert Techniques to Maximize Your Profit by Bill Williams;
New Trading Dimensions by Bill Williams
Good luck!
You can probably find lots of web pages that tell you about technical analysis. But you should know that technical analysis is only slightly better than flipping a coin.
There is a reason why you don’t find classes on technical analysis being taught in any business schools. If you look at the academic literature on technical analysis — you will see that it does not lead to excess profits.
This does not mean that there is no predictability in the market — just that it is nearly impossible for individuals to profit from it — especially using less sophisticated methods like technical analysis.
You would be better off learning fundamental analysis.