very sweet.... now can you try and explain some of this to me? i am trying to learn from their chart school, but its quite a bit of reading. just was hoping somebody could give me a quick crash course of the lines and what to look for and what things mean (RSI, MACD, what it means whjen the 20 EMA and 50EMA lines cross, etc.) thanks!
-------------------- double commas and climbing Posts: 285 | Registered: Jan 2006
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No quick way to tell you what you need to know really. I can tell you that RSI, Slostochastics are good tools for determining entry points/exit points especially on bigger board stocks. You need to read how they work along with macd, adx, acc/dist line, chaikin money flow and many others, experiment to see what works best for your method. Learn how they work along with candlesticks and you will be on your way.
Here is a chart that gives good clear indications of entry points, exit points are not quite as clear.
Notice how PPS and RSI rebound when RSI gets at or near 30. Also notice that I have the RSI set on this chart at 10. Now take a look at the next two charts of the same stock using a different setting for RSI and the 2nd using slostochastics.
This is a bulletin board stock and is much more difficult for me to find a bottom. These BB stocks and pink sheets are highly manipulated IMO and much more difficult for charting. The best way to trade stocks like these is to watch for volume spikes and monitor levelII or at least time and sales to get a feel for the trend. This site is very good for getting a headstart on stocks like AXIGE. Many good posters but do not make any decision based soley on their/my opinion. Take the time to learn how to do it yourself and do not think that pennies are the only place to make money especially if you are just beginning. Papertrade for a while before you jump in and keep reading info about indicators. I am by no means an expert on stocks but I do have my own system and do make some money. MACHIEVELLI has some great stuff he can share with you if you want to PM him. PM me if you want and I will help as much as I can.