All language subtitles for 3. Universal Language, Paper Trading, Back Testing, & Brokers For Tech. Analysis

Let's talk about some things that I think you'll find very interesting, but also really set you up

for success in the course and we're going to discuss we're going to talk about the universal language

or technical analysis, how it can apply in many different contexts.

We're going to show you some free practice tools or explain how those work with paper trading and back

testing that you're going to end up using a lot once you get through the course.

And then also talk a little bit about trading platforms, a lot of questions like what's a good platform

or where can I find a platform that works for me so I can actually do this trading?

We're going to talk about that at the end of this lesson.

So great lesson to get started with.

So let's get let's get started.

So first off, the universal language of technical analysis.

And what that means is we can kind of speak the same language by using the same tools and indicators,

no matter where are you at or what type of security you're looking at, for example.

So if we talk about language, of course, everybody there's many different languages out there.

Here's different ways that you can say hello.

But in technical analysis, if we're going to talk about, let's say, a trend line forming, that's

the same no matter what the language, which is very interesting and and terrific, actually.

So that's why on a quick note, on terminology, I'll use the term security, because that would refer

to really any financial instrument that holds some type of monetary value and is traded on an exchange.

So examples of securities under this definition are like stocks, cryptocurrency, like Bitcoin and

others like Ethereum or foreign exchange currency trading or the forex market.

Because these concepts are universally applicable.

No matter what you're looking at now, governments may debate especially around things like Bitcoin.

Is that a security or whatever, but for our purposes that, you know, all these things definitely

are.

Is it is it worth the money?

Can you trade it in?

Can you trade it publicly in exchange?

And all these things fit.

And then all the tools that we're going to talk about apply not only to the stock market, but as you

learn them, you can actually if you want to trade other types of securities, you can apply what you

learned into those other securities as well as well.

And isn't that really kind of great or terrific?

So if we look at, let's say, an example of something from the course, this is a candlestick.

It's a price bar represents price came from Japan.

So a lot of times you might hear him refer to as Japanese candlesticks.

But if you look at this, this is the exact same candlestick, the same way would be represented in

different countries like India, Australia, Mexico, USA, wherever U.K., Eurozone, no matter where

you are, a candlestick is going to be the same as far as look and how you interpret it and how you

would apply it.

That's the same thing as we talked about earlier, where not only can you apply these concepts to the

stock market, but you can apply and things like Bitcoin, Forex, gold or precious metals that are

traded or commodities like pork bellies or something like that, or rice that might be traded.

So concepts are universal.

It's a universal language.

So you only need to learn one language.

So if we look at example, here's a stock chart and don't worry about this yet as far as understanding

how to read it, the concept you want to take away is you don't know whether this chart is reflecting

stocks or bitcoin as an example, but the concepts of when to buy and when to sell will work no matter

what.

And once, you know, learn how to read this type of chart, which you will in the course, you'll be

able to apply that.

So that's really terrific.

Is it?

And the concepts will work on the securities also, no matter what time frame they are as well.

So in this example, this is from the same security, but it's different time frames.

And because I'm like one is a time frame, one is a week, one is a month, one is more like three months.

You can't tell which one is which without labeling the time frame, because the concepts again, are

universal.

You don't have a special type of indicator or special look of a candlestick price bar, for example,

in one time frame versus another.

So again, very universally applicable.

And if you look at the bottom left there, you can see something where I've drawn a blue trend line

Wheelerville drawing trend lines.

And there's a concept called a Shavon Top right where the top of that little candle is and have a real

tall wick that's called a shavon top.

And you'll learn about that, too.

Again, universally applicable in the far right.

Same thing.

You have a Shavon bottom.

It's just the bottom is missing the wick.

And then you have these things where they're very narrow kind of bodies of the candle, which are called

Georgis.

Again, we're going to learn all about this stuff in the course.

The key takeaway is it's very, very applicable no matter what you're looking to do.

OK, so that's great.

But now you may be thinking, too, like you're probably thinking early on, at some point you're going

to say, as I go through the course, I'd like to try some of these ideas without risking any money.

You know, can I do that?

I try I don't want to like, risk money, especially when I'm on a learning curve and I want to learn

and apply things before I risk a lot of my hard earned money.

Can I do that in?

The great answer is yes, most definitely.

There's two ways to do that, and that's called paper trading and back testing.

So let's take a look at each of those and how they work.

So paper trading is where you can basically trade for free.

You many if most.

Almost all.

I think online broker sites will offer this for free with, in effect, fake money, whatever your currency

is, whether it's dollars or euros or rupees.

But your online broker site offer this type of thing for free so you won't look for if they're offering

paper.

And all of this is you big, so you get the practice for free with fake money, it's a safe space where

you can learn the mechanics of placing trades and building a portfolio and trying different things that

you might learn through the course.

And you can kind of get real comfortable with it before you start actually testing with money.

So you're test driving these new investment indicators or tools that we're going to learn about strategies

and order types, whether it's a market order or a limit order or stop order, all these things you're

going to learn.

Of course, you can try it all without risking your money.

So really look forward to paper trading.

In addition, is back testing also you can find a lot for free online broker sites.

And again, you're using fake money.

And what that is, is is looking backward.

Let's let's say you through the course and we'll teach you how to develop strategies and are going to

learn the tools.

And you're going to use these things and you want to test it to see what the results would have been

in the past.

What didn't see them succeed in the past, no guarantee of success in the future.

But if it succeeds in the past, a very good chance it will succeed in the future.

And you can kind of see your results there as well, too.

So basically, you can build it.

You can then input into the back testing program or algorithm as part of the online broker.

And then will you pull real data from the past, from the broker side automatically.

And you can see results.

You can say, well, if I invested X number of rupees or dollars and I put that in and I use this strategy

and this would have occurred, let's say, the certain period of the past with a certain security,

what would have been my results, what I made money, what I have lost money.

So back testing gives you a chance to try your strategies and things before you start actually implementing

them with real money.

You see how these kind of go together.

Paper training is kind of letting you could practice and practice the mechanics and trying different

things.

And back testing is kind of proving your ideas and thoughts that you learn through the course.

So they work good in concert together and they're very similar and they're designed to basically practice

what you learn.

The course your bag test is looking at historical stuff.

Paper training is looking at the current type of market, how things would be looked at.

And then the next step, after two back testing, a paper recording would be a live training, which

is really where you're now investing real money.

Now you're an active trainer, you know, doing investments.

So you might ask yourself, well, why would an online broker offer this type of powerful mechanisms

for free?

Why don't they charge for that some may?

But the reason they do is they want you to be successful.

I certainly want you to be successful, but they really want you to be successful because they want

you to learn and use their system.

They want you to trade real money eventually.

And then they can charge fees against that trading when you make a trade.

Some some are no fee for trades and some trades, which might be a little bit more complex.

Again, we'll learn about them.

They might charge you a small fee to conduct that trade.

Either way, that's how the platform makes money.

And the platform can't make money if you're not comfortable or happy with the platform.

So it's like test driving a car, right?

If you can test drive the platform through paper trading, impact testing.

So that's their incentive there.

It's always good to sometimes see what everyone's incentive is.

My only incentive is thank you for investing in the course.

All I have to my all I care about is helping you become great at trading.

That's all I'm focused on.

The whole thing is like, well, how do we choose like these different types of online platforms to

use?

Is there some you could recommend or something of that nature?

And really, the first thing I want to do is make sure that the platform is governed by the laws of

where you live and that uses the currency that you want.

I mean, if you're in India, you want to be able to trade in rupees, for example, then as opposed

to if you're in, you know, somewhere else where your trading in euros or whatever, it might be.

Easiest way to do that.

You know, it's super easy.

Simple, I guess, is to do an Internet search and just put in like stock chart tools for and then whatever

country you want or something like that, and you'll start seeing things that come up.

So we put in, for example, here in the USA, but I think it will come up with the top things.

You're going to usually find these two towards the top.

You can see stock charts, dot com and trading view.

There's new versions of both of those.

Those are the two real leaders out there, by the way.

And the trend view trades multiple types of securities, stock charts, those, too, but they're mostly

stocks.

But trading view, you can trade, you know, cryptocurrency as well as stocks and different things.

So those are ways you want to find and then start your research.

Based on that.

You'll usually when you do that, you start finding articles like the best technical analysis software

for stock trading in India.

Right.

So you can then look at these articles, at least get lists of things that you can start evaluating.

And as you go through the course and learn the tools, then you can kind of see, OK, what what are

they offering?

What can they do?

How's it look?

How comfortable do I feel?

So the same thing you could put in like online stockbrokers, for example, to find an actual broker

in the different wherever you live, UK, USA, wherever.

And they'll usually come up with different articles like best UK trading platforms or nerd wallets,

best online brokers or stock trading in the United States.

This has to be USA.

I'm not recommending any of them.

It's up to you to kind of go dig a little deeper after you start learning stuff in the course and see

what might be in.

Listening to you, so if you're in, let's say, Thailand or Indonesia or wherever you want to make

sure that supports what you're doing in your country, in your currency.

So let's agree, these are some great ways to secure for success.

So as you go through the course, then you can kind of start to have this in the back of your mind.

Like I'm learning stuff.

I feel comfortable and I can always say people trade it or back tested if I really want to start applying

many of the things that we're going to learn.

So a great way to set yourself up for success.