Comments on: 1. Technical Analysis Lesson 1: Intro to Technical Analysis

By: malthus101

malthus101 — Thu, 29 Jul 2010 14:07:51 +0000

Hi Dave

Firstly, thank you for these videos! They are great.

I have a question. It’s a bit of a ‘how long is a piece of string question’ but I’ll ask anyway!

If I started a Mini account with £5000 (I’m UK) and was dealing £10,000 lots, could I feasibly make 5 winning trades per day, each one making 20 pips, thus taking a profit of £100 on a regular daily basis? Is this wishful thinking? Would it take along time to be this good or is it well within the realms of possibility?

Thanks again.

By: dswiger1

dswiger1 — Thu, 29 Jul 2010 13:49:09 +0000

For everyone just starting to go through these lessons, I just finished going through all 77 lessons. Great stuff, every educational and you need to lesson to all 77 lessons. Some lessons seems unimportant or “why the hell do I need to know this”. Once you start trading, you will understand why David takes great care to make the complex simple. Listen, learn and get educated. Happy trading!-)

By: fiction185

fiction185 — Thu, 29 Jul 2010 12:55:15 +0000

i owe you a boat. or at least a ride on the boat you’re helping me to buy

By: TradingApples

TradingApples — Thu, 29 Jul 2010 12:45:51 +0000

haha thanks Dave you build a great trading community

By: MrHarry8881

MrHarry8881 — Thu, 29 Jul 2010 12:40:36 +0000

it help thanks

By: christo930

christo930 — Thu, 29 Jul 2010 12:03:15 +0000

At the end of the day, it’s all guesswork trying to time the market. The fundamentals of the US economy are terrible. Citizens and Businesses alike are loaded down with debt, UE is high, wages are falling and the gov is printing money as the solution. We are in a bear market rally that is going to come to an end and make new lows. We are facing high energy prices that are going to go through the roof with possible shortages in the US. Bad times are ahead.

By: aprilia4life

aprilia4life — Thu, 29 Jul 2010 11:43:33 +0000

Way to paint a rosey picture. As an american you should keep quiet about how messed up your economy is and hope for the best. Oh, and about the bad times ahead comment, you are about a year late.

By: christo930

christo930 — Thu, 29 Jul 2010 11:22:50 +0000

Do you honestly believe that? What is factually incorrect about what I said? Hoping for the best is good thing, if you are preparing for the worst. Take a look at 1929/1930. You will find the market initially rallied 50% in 6 months and then made a new low. We bottomed out 6 months ago. There are many people expecting major problems in Oct, I sincerely hope they are wrong. Not a good time to be past peak oil production.

By: aharnam

aharnam — Thu, 29 Jul 2010 11:01:52 +0000

Guesswork ? This is no roulette game, the same scenario that you explained has been so for decades, there are cycles. Take a look of the DJIA from Jan 09 till today, at the lowest point till today there is a gap of almost 3000 points, with that attitude would you have capitalized with that frame of set in mind ?

By: christo930

christo930 — Thu, 29 Jul 2010 10:05:43 +0000

It’s worse than a roulette game, at least in roulette you have the same chance of winning every time. You are only going to profit if you sell, otherwise it’s paper wealth. This is a suckers rally that is going to come to an end. The fundamentals are terrible. There are companies whose stock is growing by leaps and bounds while their business is falling apart. Day trading can be very lucrative especially with leverage but relatively few do well over time.