So I’ve been a little remiss in posting yesterday and today. Part of that is just life. Part of that is I spent some time today working on a project that I’m going to be detailing here soon. And some of that neglect is because I’ve been giving myself an education.
Yesterday I got a book. Charting and Technical Analysis by Fred McAllen.
Ever looked at a candlestick chart and wondered “what the hell is that?” Fred does a great job of not just explaining what the actual candles mean (easy enough, you can get that from Wikipedia) but what the patterns behind them mean too. I fell asleep reading this book last night– not because it’s a snooze fest, but because I read in bed every night– and the first thing I did this morning was pull up Gdax to see if I could apply what I learned. Um… yes. I could see instantly the concepts introduced in the book proved consistently true.
I might be a hobbyist, but that doesn’t mean I want to remain ignorant. I want to ensure the investments I am making are based on some kind of logic. I want to have confidence that I’m making the right choices and not just throwing money away on a hunch. Just what I managed to learn in a day has given me some of that confidence. I look forward to reading and learning more tonight.
Highly recommended for the novice.