hi all.
im here ot learn more about long term investing and i dont know where to start to charts etc, i know their are many different charts out their. is their any easier to understand then others.
just wondered where am i best going to learn about them please?
First of all you need to learn charting basics, including all main concepts. You need to know the types of the charts and the way they could be created.
In fact, despite the particular timeframe the charts are the same. In other words, so you need the same set of skills to work with both 5 minute chart and daily charts.
If you are interested in long term investments, both high and low timeframes would be important. Each time performing analysis you will start with higher timeframe to understand the general situation. This could be daily or even weekly chart depending on particular instrument. Then it would be useful to move towards lower timeframes to find an entry point with the best possible risk-reward ratio. Of course, if you are a mid-term investor, entry point is not so important for you as for daytraders, but at the same time the proper entry point will allow you to reduce your risk or to get larger position with the same risk.
If you want to learn about the charts, you can start with the books dedicated to technical analysis. To my mind, one of the best is “Technical Analysis” by J.Shwager. It is relatively old and describes futures and not the currencies, but main principles are the same.
Long-term trading from charts I understand but not sure about long-term investing.
Maybe you mean the same as trading but in the industry trading and investing are very different practices over very different time durations. For example, I don’t know of any TA feature on a chart today that will be reliable 5+ years out (an investment time-scale).
Anyway, what are you hoping to do and how do you see yourself moving ahead?
hi
im hoping to invest for the future, so long-term investing is for me as id use any profits when i retire