Forum Archive Index - November 2001

["Nick Kearney" <nickk@quicksilver.net.nz>]

Phaedrus

Super stuff.  This is magnificent.

NK

----- Original Message -----
From: Phaedrus <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Wednesday, November 07, 2001 7:28 PM
Subject: [sharechat] Technical Analysis Agenda.


> The following is a possible agenda for anyone wanting to learn about
Technical Analysis. It is not suggested that you need to do everything here
in order to use TA effectively. Take it as far as you wish. Where
applicable, some approximate indication of cost is given.
>
>  What is Technical Analysis, and why use it?
http://www.ataa.com.au/a_cn_ta.htm
>
>  An Introduction to basic Technical Analysis :-
http://wol.sharenet.co.za/free/library/technica.htm?scheme=wol
>
>  The book "Technical Analysis from A to Z" by Steven Achelis has a good
introductory overview, followed by information on most of the commonly used
indicators :-
> http://www.equis.com/free/taaz/inttechnicalanalysis.html
>
>  Examine some charts on-line, practice drawing trendlines, see if you can
recognise support and resistance levels. Try some of the technical
indicators available. Look at Bar charts, Line charts and Japanese
Candlesticks. There are many sites available, but one of the best is :-
http://www.equis.com/java/  For many people, this free charting facility is
all they will ever require. More information on this website is available in
Part 6 of this series.
>
>  Buy "Technical Analysis of the Financial Markets" by John Murphy. ISBN
0-7352-0066-1  $140. This 540 page book covers most of the major facets of
technical analysis, making it a good introductory text. This is one of the
three books required for the American Chartered Market Technician Program.
(The other two are "Technical Analysis of Stock Trends" by Edwards and
Magee, and "Technical Analysis Explained" by Martin Pring.)
>
>  Buy a charting program. There are hundreds available, ranging in price
from free to well over $10,000. It is possible to spend an inordinate amount
of time trying to find something reasonably acceptable for little or no
outlay. If you can afford it, go straight to buying a well-known program of
good quality such as :-
>
>   MetaStock  $1200  http://www.infoscan.co.nz/meta.html
>   Supercharts  $1050  http://www.infoscan.co.nz/
>   Ezy Chart Pro $800  http://www.paritech.com.au/
>   Insight Trader $750 http://www.insighttrading.com.au/
>
>  This is not a comprehensive list. My personal preference is for
MetaStock, but there are other good programs available. In New Zealand, more
people use MetaStock than all the others put together.
>
>  For a listing of well over 400 Technical Analysis software programs, with
details of each, go to :-
http://technical.traders.com/Products/catsearch.asp?cat=120  This site
includes a search engine, which enables you to enter the features you
require, then gives a listing of software programs meeting those criteria.
>
>  If you must have something cheaper, try the following sites :-
> http://freeware.intrastar.net/techasis.htm
> http://www.stock-investing-software.com/freesoftware2.html
>
http://dmoz.org/Computers/Software/Business/Investing/Charting_and_Technical
_Analysis/
>
>  You will need a supply of compatible data, and some price history. (2
years minimum. 5-10 years would be better)  Package deals are available eg
MetaStock, plus one years subs to NZ data and Australian data plus 8 years
NZ history plus 5 years Australian history, $1,550
http://www.infoscan.co.nz/infoprices.html   Shop around though - prices can
vary considerably.
>
>  Don't even think of looking at any high-priced "black box" systems. Why
not? Read these two excellent articles :-
> http://www.stanz.co.nz/education.htm#articles
> http://www.ataa.com.au/a_cn_comp_trd_.htm
>
>  Join STANZ (Society of Technical Analysts of New Zealand) $50 pa. They
hold monthly meetings, see their website for details. You do not have to be
a member to attend. (Members $5, non-members $10) http://www.stanz.co.nz/
>
>  Read some books from the following titles as listed on the IFTA website
> (International Federation of Technical Analysts):-
http://www.ifta.org/Resources/RecommendedBooks.htm
>
>  Join ATAA (Australian Technical Analysts Association) $180 pa. They have
monthly meetings (in Australia) and publish a very good bi-monthly journal
containing articles on technical analysis and trading.
http://www.ataa.com.au/
>
>  Study for the ATAA Diploma in Technical Analysis. $1600.  This is a two
semester course, run by the Securities Institute of Australia. It is
available by distance education (correspondence course). Full information at
http://www.ataa.com.au/ataa_courses.htm
>
>  The Chartered Market Technician (CMT) Program is an educational process
in which candidates study a broad range of technical analysis subjects.
Administered by the Accreditation Committee of the American Market
Technicians Association (MTA), the Program consists of three levels which
must be completed within 5 years. Further information :-
http://www.mta.org/pdf/cmtbroch2001.pdf
>
>  Britain has some more complex courses with degree examinations and
Universities in USA, Europe and Sweden also provide for a degree in
Technical Analysis.
>
>  Get TradeStation software $6000+  This is probably the best software of
all for creating and backtesting systems. The programming language is more
powerful, more complex and more difficult to learn than MetaStock.
TradeStation has a large user base in the USA, but it is not used by many
traders in NZ and Australia.
http://www.tradestation2000i.com/products/tradestation/feature/default.shtm
>
>         Written for the "Learning to Invest" series by Phaedrus, revised
7/11/01.
>
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