A new Life, A new Career, A new Dream - I am a Trader

[DanPickUp]

@Salam Nameste

You posted:

Hi Taiki,

If you didn't discuss about this concept early, please explain with real time charts. I collect this info from Net. Thanks.

Now let me give you an answer for the moment, as Taiki can decide by himself how he wants to spend his time finally beside trading.

You have posted all the screen shots from any of this special candles. You also have posted all the specific descriptions to them and the rules how they work best. So what should Taiki now do in your mind what you not could do by your self?

Take one of your scripts you may trade and search for those specific candles. Why should others spent there valuable time to do so when you can do it by your self?

As soon as you see such a combination of candles in any of the charts you found, post the chart here. TA is not perfect in any way. Sometimes those candle combinations will work and other times they do not work. That's it. If you want to trade on them, do it and fine tune your knowledge about them, let us know how it worked and we are here.

In trading it is not necessary to know all what exists on TA. It is also not necessary to do the work for others. Taiki has a system and now he is improving his psychological skills and he is fine tuning his existing, good working and more or less full developed system.

Here you seem to be far behind, as you still collect TA pictures, charts and trading systems. Never mind and nothing bad about that and your very interesting above post.

But as told: You are able to find by your self those specific candles in any time frame you like to trade. Just go and search for them and let us see what you found. Taiki will answer for sure any questions on your charts you found by your self about the above candle formation. This is called: Sharing work. So nothing personal, but please be aware about the time it takes to search for such specific examples. So I absolute kindly request you to jump in with your charts to take work away from others, as you will get answers also for free. Sorry if I was a bit rough, but time is not endless for traders as there is also a private live for each one of us. So just tried to sensibility you on the effort it takes to answers your valuable questions, as I spent hours and days to do so in an other thread.

Take care / DanPickUp

 

[Taiki]

EOD Summary

Trying to be smarter than the market is deadly. Thanks GOD I did not get killed today, and because of this early realisation of mistakes got rewarded from market too

I got this valuable lesson today. Though earned less because of my mistakes, but glad to close the day in green.

Trade 1 & 2

Started the day with this mistake, shorted in the very first bar. No short setup was present at that time, price was also not in a very favourable level. but I shorted to pick the fall early. I was out of mind for sure :annoyed:

Shorted at 5340, and even before putting my SL price shoot up, I was freezed seeing this sharp rally, and in no time I was in 30+ points loss. Closed the position with a heavy heart. Realised my mistakes, and immediately I had to wash my brain.

Thankfully I picked up the uptrend in next pullback, Went long at 5400, with SL = 5385, Trail the stop loss perfectly, and exited when TSL hit at 5443.

Trade 3

Took the 3rd trade when price failed to break the sideways range and started falling, Shorted at 5455, SL = 5468, closed the short at 5400 with 55 points in hand.

Attempted another short trade when price faced resistance near 5420. but got stopped out from this as price started to recover again. loss in 4th trade = 8 points.

Net 4 trades, -40+43+55-8 = +50 points (brokerage is yet to be cut)

Regards
Taiki

 

[Taiki]

Yes bro,

I trade the S/R lines only if a BOF/BPB/TST setups are available near them and if the setup is favouring my R:R. When price creates a range surrounding a S/R lines then the S/R line looses its value. In that case I try to trade the range instead of S/R line itself.

Regards
Taiki

Hi Taiki,

If you didn't discuss about this concept early, please explain with real time charts. I collect this info from Net. Thanks.


Master Candle
.........................
..........................

Regards,
Salam Nameste

yes buddy, I have not discussed about this setup previously. Though I do not trade this setup in particular, but some times price forms a similar setup around my S/R lines. As I have mentioned in my prev posts, that sometimes, price forms a band/range just above and below the S/R lines, there was no favourable BOF/BPB setups available on chart. In that scenario the S/R line loose its importance, and price respect more to the ranges that surrounds it.

And in general the range starts with a big piercing candle that crosses the S/R lines, but the subsequent candles stay completely inside the big bar, and price just move up and down around the S/R lines.

For example on 16th Aug, my S/R line was at 5660, and price crossed this with big bullish green candle. For next 14-15 candles price stayed in the range of this big candle, and ultimately breakout came on upside.

I will look for some better such setups during weekends, and will post with charts.

Regards
Taiki

 

[jagankris]

EOD Summary

Trying to be smarter than the market is deadly. Thanks GOD I did not get killed today, and because of this early realisation of mistakes got rewarded from market too

I got this valuable lesson today. Though earned less because of my mistakes, but glad to close the day in green.
Regards
Taiki

I too had the view of buying OTM puts in the opening just not miss the rally.
But it miss fired.

Couldn't had the mind set to go long.

Purchased ITM puts and averaged as markets went up violating the rules and markets gave exits.Made money in the shorts and no longs .

Today is a peculiar day and FII's have covered some of their Nifty shorts.
Though Dollar remains strong and at its high,Syria war threat and QE meeting on 18th.Options IV's at peaks.

Inverted H&S in the hourly.

After EOD each day I think tomorrow I will follow the markets.

Some how finding "Let Go" too difficult.
Urge to be right on the view and book early to prove that view than be on the right side of the trade.
No re entries.
I don't know how long it will take to become disciplined .

 

[TraderRavi]

Couldn't had the mind set to go long.

I too find dfficulty in going long, but somewhat overcome this mindset while trading NF compared to options, still difficult to change mindset , but when markets rise they do so by taking nifty down regularly by tanking 30 - 40 points in between , generally its a test of patience in going long....:annoyed:

 

[Taiki]

Trade Setup for 5 Sep 2013

30M chart

On upside S/R lines are at 5480, 5560, 5600, 5660
On downside S/R lines are at 5380, 5320, 5260

3 M Chart

NF was in strong uptrend, even though it fell sharply from 5480 to 5380, but recovered quickly too. So It is the range of 5380-5480 with momentum lies with bulls.

Global Index Update
US ans EU markets are closed in green. All the asian markets are trading higher with SGX Nifty is exceptionally up by 2.05%. We may see a hughe gap opening in Nifty today. Need to see if NF will be able to break its prev swing high of 5560 or not.

Trade Area
1. BPB/BOF at 5480
2. BPB/BOF/TST at 5560
3. BOF/BPB/TST at 5600 and 5660
4. BOF/BPB at 5380

Regards
Taiki

 

[Taiki]

HAPPY TEACHERS DAY

Teachers Day in India is a dedication to Dr. Sarvepalli Radhakrishnan, who was a staunch believer of education and was one of the most well known diplomat, scholar, President of India and above all a teacher. As a tribute to this great teacher, his birthday has been observed as Teachers' Day and this led to the origin of this pious day.

I salute you SIR.

I would like to thanks all my friends here in TJ forum, for I have learned something from everyone of you at some point of time. To name a few -
Saint Sir, TradeHunter, ST da, Dan bro, Jagan Bhai, Everyone's beloved Raj bro, Man of steel Ravi bhai, Hem birader, Augubhai, Veera brother, Jain, soft_trader, tp bro, gurmy, Trader_pk, trade_joker, broader, jamit bro, option_trader, healthraj, escape, kiran, Tlahuicole, Wishky, AW10, Vijay, Gandhar, Godfather, Anvy, Disciplined trader,
and everyone.. Thanks to all of you guys for making traderji a beautiful school for new aspiring traders. I have learned a lot here.

This one is for you guys.

Good luck to everyone for today's trade

Regards
Taiki

 

[jain.er]

HAPPY TEACHERS DAY

Man of steel Ravi bhai


Taiki

Iron man of TJ Kaun "Ravi"

 

[Taiki]

Iron man of TJ Kaun "Ravi"

It is quite obvious. When failure hits the easiest and most logical job is to quit. But to keep on persisting in your path, to stand up and move forward everytime life pushes you two steps back, one need heart of steel ..

Regards
Taiki

 

[Taiki]

EOD Summary

Today it was a loss day, my first loosing day for sept series. Nifty was in tight range of 30 points through out the day, got whipsawed in few trades, got phew scratch trades, and others went for stop loss. Exited 2 trades with fixed points of 10 each..

Net 6 trades done, Net loss for the day = - 11 points

Hoping for catching a bigger move tomorrow.

Regards
Taiki