Athena Trader

According to ACCICB, he only read 1 TA book and learnt the rest online and he told me that this book is the only book I will need to read. A reader left a comment long ago that he wanted to know what book it was, therefore this post is for that purpose and after this post I don't think I have any more posts I should write but haven't! That book seems to be rather hard to buy given that it's so old as it was passed down by ACCICB's dad. The book is  Martin Pring on Market Momentum  and I wouldn't say its a beginner's book since it does expect you to have some basic knowledge of TA. Although I'm a super fast reader, I took a long time to read this book. It's as if I want to digest it slowly, understand it, apply it to live charts of those companies on my watch list etc. I think it was also not a good first book to read if you are clueless about TA. For a beginner, I would recommend Steve Nison's Japanese Candlestick Charting Techniques which is ...

Besides the 'Hai'rami that I wrote about in my last post, ACCICB also came up with the Bollinger Bandit which has caused him much pain when he first started trading. I'm not trivializing TA by giving them such catchy names although it does seem to stick in the head much better it seems. The Bollinger Band is wonderful when your candlesticks are touching them when it's on the uptrend as it often mean that there's a possibility that the next day/days' candlestick would continue to rise given that the other oscillators are in agreement. The thing about oscillators is that by right you are supposed to have the majority of them in agreement before you pull the trigger. However when there's no clear majority, it becomes murky as to whether to pull the trigger or not. Sometimes we can take a small punt or we can just forgo it. There's no right or wrong with any decision you take, just have to make sure that you are right more often that you are wrong.  ...

ACCICB bought many stocks on a harami candlestick only to discover that it is actually a 'hai'rami when the stock went down further. Hai in mandarin means to inflict woe onto others thus you can see why I renamed the harami to 'hai'rami for ACCICB. Harami is a two Japanese candlestick pattern and it is a reversal pattern thus you can imagine ACCICB's reaction when he bought it on the downtrend but it went southwards or sideways instead of going up up and away. I won't go into the details of the harami pattern because there's much information out there so I shouldn't be singing the same tune. The best way to get better at TA is through practice I would say although some people I know may have a gift for TA. Its like they can see things that we can't! Especially with variations of harami patterns occurring in charts, it becomes an art to differentiate your harami from your 'hai'rami.  When I first started out on TA, I realised that if ...