Many thanks! Will digest it more.....
T forget the haters...Youll learn more here than in any books and alsi paid course that you will attend...I promise you that!!
Before you decide to trade the alsi you need to consider the follwoing 3 imt points:
1. you have to decide if you want to be a day trader , swing trader or medium / long term trader.
2. Having decided that , next step is to do the hard yards....
Design your own system according to 1 above...Test test test and back test to see if it meets your requirements..IE it gives you an edge.. DO NOT USE STANDARD INDICATORS!! Play with settings to make it fit to your time frame..ie use different settings , emas etc to see what fits best..
Learn about trendlines , resistance and support levels , head and shoulders , cup and handle formations and most chart patterns...
Test and back test again...
Now do you think you ready to trade the alsi??
Not in a million years... You need to do step 3 ..
3. Why is the alsi called the beast unlike the ftse , dax, dow or S&P????
Definitely is because it does things when least expected...US or ftse may be smashing ahead green but alsi could be having her ass klapped...WHY?? because she is a beast...
Only way you going to learn to handle her is to know the nuts and bolts of the Alsi...She has her own mind...
1. you need to know which 40 ( actually 42) make up the alsi , their weightings on the alsi etc.
2. you need to identify dual listed ones in the TOP 40.
3. You need to follow the foreign exchange rates at any given time to know how duals are effected.
4. You need to know the effect of ten cent every morning on the chance of NPN going up or down and by how many percent.
5. You need to keep check on commodity prices in the morning see if bullish or bearish resource stocks
Plenty others but dont have time to list here...Unlike s& p or ftse which can trend for the day. week or month , alsi imo cannot be predicted in advance maximum for more than an hour. It changes mood very quickly due to factors listed above. This makes it a very profitable instrument to trade if you know what you doing. I always say...if you trading the alsi be it daily or medium term , your maximum time frame for chart anlaysis should be 60 min..anything higher you in a hiding to nothing!!
I have a spreadsheet which i have to update every evening with nearly 2 hours homework juts to trade it the next day... So u need to do the hard yards...
So design your own system , keep it too a time frame less than 60 min....do your home work on the nuts and bolts on what makes the alsi move and you will be nearly half way there...
PS : i aint here to sell or share any systems... Haters will continue their tirade..Let them...Its them who will lose out!!
I just love trading this instrument. Absolutely passionate about it.......
For me,the greatest motivator for creating and preserving my wealth is sharing what i learnt already with humanity...
It’s not about money , cars or watches. It’s my ability to pass down knowledge and experience which i acquired on my own and leave a legacy to people that excites me.
BTW that long signal on stoch playing nicely for about 130p so far.....but papa bear should be at that lilac serrated line soon!!!
Edited by Polly, 15 July 2019 - 02:45 PM.