AMD on 15min chart using Tradingview - 6 hurdles that a trader has to overcome - Introduction to Accelotrade

Hello everyone,

I have here a recorded session of yesterday that you can use to review what we covered yesterday. 

We discussed about the 15min move of AMD, how it played out in a 15min chart, the formation of candles, volume analysis, breakouts on 200SMA, sustaining the move by using the SMA as a trampoline to jump higher but also retesting the support line which is sometimes the SMA itself, most especially the 50SMA, and 200SMA. We discussed too the use of Tradingview.com for charting better and drilling down a stock chart into lower time frame together with the use of trend line. 

Every stock has its own character and identifying this character makes it easy for you to decide which position would you like to hold and at what price level. That is why it is very important that you track the stock that catches your attention on a watch list. You do not need to glue yourself on the monitor for the whole day but at least with your watch list you can easily identify if the stock you are monitoring had created the best possible pattern you are looking for by just glancing on a 30min well-focused review at the end of the day. Once you see it. Fire at will. Daily chart is good but drilling it down into its smaller time frame can help you identify where you can precisely position. The longer time frame is good for identifying the longer trend that will help you win in the longer term. Be familiar of how the candles form during reversals. Once you are good at identifying them, together with your volume analysis it helps a lot in forming a good judgment for a position.

There are 6 hurdles that a trader has to overcome:

1. Becoming an expert in Technical Analysis, especially reading with charts using the candlestick along with volume analysis.
2. Controlling one's emotion in dealing with losses and exhilaration of winnings.
3. Devising one's own strategy without relying on someone else and being able to identify opportunities without the influence of others, be it in the group, forum, herd, suggestions or newsletters.
4. Enough experience to have that confidence to cut losses quickly, and consistently follow his own trading rules.
5. The ability to produce his own list based on his own strategy.
6. The discipline to plan and execute his trade and the same discipline to manage his trade.

Based on the above obstacles, in order to be able to quickly move on to a stage with the entire 6 captured it is but just good to subject new traders to some kind of game that keep them a pace with controlling one's emotion, and managing their trades.

Thus, I introduced Accelotrade on the picture. It is a new site which allow New Traders to have a PEEK of how a stock that is trending in stocktwits.com is being traded, most especially by bots(Artificial Intelligence), join a game in PLAY mode or even create your own game and invite others to play along with you, or even invite bots to join in and see how they will also manage to win in trading. The site also allows you to PRACTICE trading on a particular stock you are interested about  and see for yourself how are you performing before really laying out your actual money in actual trade. 

Accelotrade is in Beta Test mode right now. Probably by next week it will have live data stream. For now, the existing stream is enough for PEEK, PLAY and PRACTICE to get accustomed in trading and getting your hands dirty without spending actual money. There is no sign-up or log-in to the site yet. You can choose your own username that you want. Just a note of caution, if you join a game and you logged-out, you cannot re-join the game again. The same username you will use in logging in will have a new instance, so therefore you will lose control of the previous instance. On the side menu inside the PEEK and PLAY mode there is an icon for Beta testing. Let us support the site by testing it. Once they go live, we have credits for membership. And please give feedback on their short survey. This will help a lot in improving the site.

Have a look at the site and be familiar with it. If you notice something that could probably help in improving it, list them down so we can forward them for inclusion in their updates. I will set-up a game next week that we can join and play along with.

Let me know, if you have a hard time accessing the file I sent you and the Accelotrade game site link.

And here is the link for the review.

http://bit.ly/NJNTrading-AMD15min-AccelotradeIntro  

Cheers and have a nice weekend.

Jerome