Posts tagged “stock market charting”

Learned how to analyse stock charts to find what price zone I want to enter at

My background: Having been trading for 30 plus years, I would say almost 90% of those years my trading account was in a net loss for that year. My trading account starting value was between $2000 and $3000 and over those years I would have to add more cash to my trading account because I would keep blowing out the account out on bad entry trades, trades with high risk, or improper trade management. Fortunately, through the company that I used to work for, my personal 401K had grown too close to 500k, before I retired from work. What questions I had for OTA: 1. My main concern is, do I have enough money in my IRA trading account to cover all my monthly expenditure? 2. How many trades or trade gains do I need to meet line 1 question? 3. What type of trade will I need, buy and hold, option trading, short term trader, future trader, or a mix of all? What I have learned after completing OTA’s Professional Core course: 1. Create a trade plan to use as guideline and how-to setup my trading goals (how I can, by trading, cover my monthly living expenses). 2. Learned how to analyse stock charts to find what price zone I want to enter at, and with high probability, where I suspect price will go to meet suspected target goal. 3. Learn if I’m should take a trade long, short, or no trade if the trade setup doesn’t comply with my trade rules. 4. Learned money management on my trading account (proper risk/reward rules) and trade position size. 5. Learned how identify before entering a trade, what my target goals and stop loss are and how-to setup trade orders to be executed if the traded stock hit either price, per my trade plan.

Rob Hanson (Minneapolis, MN)

very well-structured training programs

To be honest, I was worried at the beginning because I thought I was too young to be part of Online Trading Academy. Furthermore, I felt limited when people started sharing in my class how they were building their 500K or more retirement accounts. Just to give you a little background of my current situation, I am in my late 20s and working full time while supporting my wife who’s going through grad school, with no formal financial education prior joining OTA. I remember the first day feeling a little off place when people started talking about stocks/bonds and how Wall-Street was currently moving. Although confusing at first with all the new terminology, I noticed that to join OTA you don’t need a MBA but, rather, a coachable mind that is humble and willing to learn. Furthermore, the simple language used to walk you through the basics is relatable and easy to comprehend and retain. Perhaps what I like the most about OTA is the welcoming atmosphere, and that sense of family that holds OTA’s staff together. Even though I was the youngest person in the classroom, I never felt unwelcome. Furthermore, another great feature about OTA is that each student is paired with a mentor with plenty of financial experience that takes the time to get to know you at a personal level. So far I have taken the free hour lecture, the 3-day introduction class and the core-strategy course. And from what I can tell, I am still hungry for more knowledge and for more ways to better understand the market. The main pros about OTA are the very well-structured training programs that walk from the basics to more complex concepts. Added to this, there are multiple student resources and, as I previously mentioned, the opportunity to contact your mentor when you need to if you have any questions. Even though the pricing may be intimidating at first, it is a fair value when you get to see all the benefits and knowledge you can get. It is very important to highlight that OTA will not give you the secret key to all your financial goals. However, OTA will teach you how to minimize your risks and increase your chances for success. At the end of the day the greatest challenge is not all the academic content or the fees for them, but rather, finding the purpose and the “whys” of your financial goals. Once you get them straight, OTA can help you become part of the 1% that achieves his or her dreams.

Benjamin Manzano (Baltimore, MD)

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