Charting University » About Charting University
Welcome to the area of the website where I can actually do some teaching! As you will soon see - chart patterns occur over and over, allowing traders to make money as long as they are able to recognize them.
One man in history that I truly admire was Britain's Prime Minister, Sir Winston Churchill. This gentleman left us with some of the all-time greatest quotes. The one that most closely relates to my personal trading is, "those who fail to learn from history, are doomed to repeat it." Stocks, futures, and index charts follow the same philosophy.
I prefer to monitor the 15-minute, 60-minute and Daily charts for my nightly emailed data because they show what the markets are doing and what has been hot for the past several days and weeks. If you can trade with discipline from the charts that I post each night, there is a bright future for you in this business. However, you must remember that the market is always correct, so don't fight a losing position for long.
Two studies that I place a great amount of my focus on are from Japanese Candlestick and Western-style charting principles. I cover many of these names and their patterns extensively on the website.
Traders and technicians often use different names for the same formations. I have always followed the theory that, "As long as I can remember and recognize a formation by a certain name - and make money from it - my way is OK". So as an example, you may find that I refer to a Triangle while another website or book may refer to it as a Wedge. Both terms work and we all add our own personality into our work.
I will clearly point out to you what I see, including the support and resistance areas that are most likely to offer profit triggers to a trade. In the end, these are the important factors so don't get too hung up on the pattern names right now.
Over the years I have spent considerable time training in the studies of Japanese Candlestick formations. Although there are many, the gentleman who has most influenced me has been Steve Nison. Steve has trained professionals in 18 countries and from almost every major investment firm on how to apply - and profit from - these methods. We have had the privilege to have Steve come into our Live Chat Room on more than one occasion to provide a brief teaching session, and he truly knows his business well.
The ability to use both Candlestick and Western patterns together can be an extremely powerful combination that you will often see me utilize in my writings. Over time, these examples will begin to be seen by even the most novice of students. You will be able to refer to this Charting University area often when a question arises or if I show a formation in the nightly Stock Chart Reports that interests you.
Good luck and never stop learning!