After having reviewed Lesson 4, I feel overwhelmed about the research that is ahead of me.
At the very least, I understand that I have to put together research that involves setting up and recording 5/9 levels on both weekly and daily time frames and the resulting patterns all in the course of a year.
In section 4 of lesson 4, you mentioned that this research can be recorded or drawn on paper charts or done by specific software.
If I chose to do paper charts, how do I go about doing this? What sources or resources do I have to consult or pay for to get the needed
information?
How do I go about implementing the red and green outlines and the 1-1 dots and PLdots in the graphs?
Can I use either bars or candlesticks?
On the other hand, if I chose to go the software route, how do I go about doing this?
A this point, I can honestly say that I don't know how to use web page creating software and save and capture screen images from Tradestation or any other charting software.
The worst case scenario is that I have to take a class or two at the local ROP(regional occupational program), adult education or community college to learn the aforementioned software.
You alluded to two specific graphic capture packages such as Paintshop Pro or Snagit. Any other recommended software alternatives? Are either of these two pieces of software all that I need or do I still have to use a web page creating software? What specific web page creating software do you recommend?
Lesson 4 gives me the impression that I have to seriously consider using Tradestation 8 or eSignal at this point in time
Any help that you can provide me with to make my life a lot easier would be greatly appreciated. Lastly, the advice that you gave me for Lesson 2 made a big difference.
DY
Lesson 4
Re: Lesson 4
====well, yes, is a lifetime of work. But I don't think that this has to be done all at once, regardless of the implications of Lesson 4.
==that would be a good thing to do, yes, but again, does not have to be done on one swoop. Not all at once please....
===Practically speaking, most people prefer TradeStation and the DG software..., But it can be done with paper charts.
You can get historical data from the exchange websites (such as CBOT.com and CME.com) as well as from commercial sources such as CMI, Inc.
====the 1-1 dots and pldots you know how to calculate; the red and green outlines ?? I suppose you mean the 5/9 levels. You also know how to calculate these. But the software does that for you, which is why many people prefer it.
==no, no candlesticks. Use only the full bars.
===TradeStation 8.1 and the DG software would be the first step.
===can eventually walk you through it if you have difficulty. Snagit is easy to learn, and is available from www.techsmith.com. I think you can get a demo version at first. For web-page creation; I have used front-page and DreamWeaver. But there may be many others that are easier and cheaper that are available these days.
Stay away from a full-course on webpage development. You need only very basic skills here, and this can be self-taught, or picked up on the fly.
===don't do that. Would be overkill and distract you. Simplicity is the way forward here.
===use snagit to grab the image. Use FrontPage or DreamWeaver/or other simple, simple web page creating software to link these images together.
===many if not most of our students do go this route.
=====maybe first get used to TS if you decide to do that. Then ad the snagit. Then later ad the web-page linking for your own personal notebook.
===The most important thing is to look at the market and see the relationships develop. And to do this over some significant period such as a year. All of these other suggestions such as the web-page notebook etc, are supplemental. In the end it matters if you learn the relationships, it does not matter if you write them down or record them in any specific manner.
==that would be a good thing to do, yes, but again, does not have to be done on one swoop. Not all at once please....
===Practically speaking, most people prefer TradeStation and the DG software..., But it can be done with paper charts.
You can get historical data from the exchange websites (such as CBOT.com and CME.com) as well as from commercial sources such as CMI, Inc.
====the 1-1 dots and pldots you know how to calculate; the red and green outlines ?? I suppose you mean the 5/9 levels. You also know how to calculate these. But the software does that for you, which is why many people prefer it.
==no, no candlesticks. Use only the full bars.
===TradeStation 8.1 and the DG software would be the first step.
===can eventually walk you through it if you have difficulty. Snagit is easy to learn, and is available from www.techsmith.com. I think you can get a demo version at first. For web-page creation; I have used front-page and DreamWeaver. But there may be many others that are easier and cheaper that are available these days.
Stay away from a full-course on webpage development. You need only very basic skills here, and this can be self-taught, or picked up on the fly.
===don't do that. Would be overkill and distract you. Simplicity is the way forward here.
===use snagit to grab the image. Use FrontPage or DreamWeaver/or other simple, simple web page creating software to link these images together.
===many if not most of our students do go this route.
=====maybe first get used to TS if you decide to do that. Then ad the snagit. Then later ad the web-page linking for your own personal notebook.
===The most important thing is to look at the market and see the relationships develop. And to do this over some significant period such as a year. All of these other suggestions such as the web-page notebook etc, are supplemental. In the end it matters if you learn the relationships, it does not matter if you write them down or record them in any specific manner.