A new Life, A new Career, A new Dream - I am a Trader
- Thread starter Taiki
- Start date
Hi everyone,
Thanks to all of you for your kind concern. All is well here, The storm passed smoothly, and there are no loss of lives too due to in time measure. Whatever losses of lives have occurred are due to fall of tree and walls. In my town, not much damage has happened except big trees and electric poles re uprooted.
We got our power restored today. But worst of all for more than 2 days all the mobile operator's service were down too. So there was no electricity, no network, no net, I felt like I am staying in some distant islands
Anyway now life is returning to normal, Few stuffs are there at hand which need to be addressed first, So I may not trade today, though will try to come to desk after noon. else will resume trading from tomorrow.
Nifty is making new high, all the predictions are on air with nifty making new all time high. Good luck to all of my friends. :thumb:
Regards
Taiki
Thanks to all of you for your kind concern. All is well here, The storm passed smoothly, and there are no loss of lives too due to in time measure. Whatever losses of lives have occurred are due to fall of tree and walls. In my town, not much damage has happened except big trees and electric poles re uprooted.
We got our power restored today. But worst of all for more than 2 days all the mobile operator's service were down too. So there was no electricity, no network, no net, I felt like I am staying in some distant islands
Anyway now life is returning to normal, Few stuffs are there at hand which need to be addressed first, So I may not trade today, though will try to come to desk after noon. else will resume trading from tomorrow.
Nifty is making new high, all the predictions are on air with nifty making new all time high. Good luck to all of my friends. :thumb:
Regards
Taiki
Hi everyone,
Thanks to all of you for your kind concern. All is well here, The storm passed smoothly, and there are no loss of lives too due to in time measure. Whatever losses of lives have occurred are due to fall of tree and walls. In my town, not much damage has happened except big trees and electric poles re uprooted.
We got our power restored today. But worst of all for more than 2 days all the mobile operator's service were down too. So there was no electricity, no network, no net, I felt like I am staying in some distant islands
Anyway now life is returning to normal, Few stuffs are there at hand which need to be addressed first, So I may not trade today, though will try to come to desk after noon. else will resume trading from tomorrow.
Nifty is making new high, all the predictions are on air with nifty making new all time high. Good luck to all of my friends. :thumb:
Regards
Taiki
Thanks to all of you for your kind concern. All is well here, The storm passed smoothly, and there are no loss of lives too due to in time measure. Whatever losses of lives have occurred are due to fall of tree and walls. In my town, not much damage has happened except big trees and electric poles re uprooted.
We got our power restored today. But worst of all for more than 2 days all the mobile operator's service were down too. So there was no electricity, no network, no net, I felt like I am staying in some distant islands
Anyway now life is returning to normal, Few stuffs are there at hand which need to be addressed first, So I may not trade today, though will try to come to desk after noon. else will resume trading from tomorrow.
Nifty is making new high, all the predictions are on air with nifty making new all time high. Good luck to all of my friends. :thumb:
Regards
Taiki
Hello Ravi Bhai,
Yes I have started trading from Thursday, just did not get time for TJ's post. Thursday was a loss days of 28 points, everything went wrong on that day. I failed to analyse the setup properly. But friday was good, recovered the loss, with 94 points in hand.
Something good happened during the storm and my break. I took that time to analyse my performance for last 3 months. Though monthly point wise I am satisfied with my return, but I found some serious lack in the effort of trading psychology and trade management. like
- 80% of my exits were random, with no proper exit signal. Most of them are early exit only because I was in little profit, though the market moved much after my exit too.
- During whipsaws/stoploss hit trades, I found my entries are little early in more than 50% of losing trades, and market moved in the direction of my trade after I got stopped out. This clearly indicates an early entry and failed to recognize the proper market movement.
- And the most serious issue was - now when I look back a loosing/winning trade in past I don't remember why I had made an entry or exit there. What was in my mind that made me to take/close the trade? So how I will learn from my past mistake when I don't have idea what mistakes I did at that time.
So I utilised this week long break to refresh my knowledge on trade management, and trading psychology with proper money management rules. Revised the entire lance begg's book once again. And now I will be handling this career with a much more organised approach. I am gonna keep a daily trade diary which will contain my market assessment for the day, my thoughts, expectation and reason for each entry, exit and SL. and at the end of the day a picture of the complete trade.
Regards
Taiki
Yes I have started trading from Thursday, just did not get time for TJ's post. Thursday was a loss days of 28 points, everything went wrong on that day. I failed to analyse the setup properly. But friday was good, recovered the loss, with 94 points in hand.
Something good happened during the storm and my break. I took that time to analyse my performance for last 3 months. Though monthly point wise I am satisfied with my return, but I found some serious lack in the effort of trading psychology and trade management. like
- 80% of my exits were random, with no proper exit signal. Most of them are early exit only because I was in little profit, though the market moved much after my exit too.
- During whipsaws/stoploss hit trades, I found my entries are little early in more than 50% of losing trades, and market moved in the direction of my trade after I got stopped out. This clearly indicates an early entry and failed to recognize the proper market movement.
- And the most serious issue was - now when I look back a loosing/winning trade in past I don't remember why I had made an entry or exit there. What was in my mind that made me to take/close the trade? So how I will learn from my past mistake when I don't have idea what mistakes I did at that time.
So I utilised this week long break to refresh my knowledge on trade management, and trading psychology with proper money management rules. Revised the entire lance begg's book once again. And now I will be handling this career with a much more organised approach. I am gonna keep a daily trade diary which will contain my market assessment for the day, my thoughts, expectation and reason for each entry, exit and SL. and at the end of the day a picture of the complete trade.
Regards
Taiki
Can you help me on how to trade based on this CPB setup? I was never aware about this setup before, but I remember exiting many trades just before this setup is finished and after I exit the position skyrockets.
Is it like we have to enter the trade only in case when day high or low is taken out? If so, the pattern violates higher pivot lows and pivot highs formation atleast once in a uptrend?
Just confused. If you get what I am saying please reply. I am sleep so might be gibberish too
Is it like we have to enter the trade only in case when day high or low is taken out? If so, the pattern violates higher pivot lows and pivot highs formation atleast once in a uptrend?
Just confused. If you get what I am saying please reply. I am sleep so might be gibberish too
Complex Pullback Setups
Pullback and complex pullback setups are associated with a trend (uptrend/downtrend). So as a first requirement a trend must be present in the chart.
Trend
A trend is nothing but a extension in the direction of the strength, a higher swing high, a pullback/retracement forming a higher swing low.
When does a trend reverse ?
lets consider we are in an uptrend, when the price breaks the swing low which leads to the highest swing high of the trend. Failure to break the swing low that leads to the highest high could simply indicate a complex pullback rather than a reversal.
When to expect a complex pullback ?
A failed simple pullback which does not reverse the trend can setup a possible complex pullback opportunity. The very basic form of complex pullback is 1-2-3 reversal pattern, but a much complex form of continuation is also possible.
What happens when a complex pullback fails ?
When complex pullback fails to break the swing high of the uptrend, price goes in to a sideways region where the boundaries are the swing high and the swing low that leads to the swing high of the trend.
Other patterns such as symmetrical, ascending, descending triangle formation also happens when the complex pullback stup fails.
@ Tlahuicole bro, Pardon me for the delayed post.
.Now on 18th Oct nifty fut chart, there was a complex pullback setup present. Can you identify it now ?
Regaards
Taiki
Taiki it seems you have been quite busy of late...
But in case you find some time can you please help me with Stop losses.
How do you determine where to place SLs specially early into the trade
(sorry boarders I have been asking this doubt too many times and too many threads though I know ST da always says fixed SL dont work; but please bear with me )
But in case you find some time can you please help me with Stop losses.
How do you determine where to place SLs specially early into the trade
(sorry boarders I have been asking this doubt too many times and too many threads though I know ST da always says fixed SL dont work; but please bear with me )
Regards
Taiki
Complex Pullback Setups
Pullback and complex pullback setups are associated with a trend (uptrend/downtrend). So as a first requirement a trend must be present in the chart.
Trend
A trend is nothing but a extension in the direction of the strength, a higher swing high, a pullback/retracement forming a higher swing low.
When does a trend reverse ?
lets consider we are in an uptrend, when the price breaks the swing low which leads to the highest swing high of the trend. Failure to break the swing low that leads to the highest high could simply indicate a complex pullback rather than a reversal.
When to expect a complex pullback ?
A failed simple pullback which does not reverse the trend can setup a possible complex pullback opportunity. The very basic form of complex pullback is 1-2-3 reversal pattern, but a much complex form of continuation is also possible.
What happens when a complex pullback fails ?
When complex pullback fails to break the swing high of the uptrend, price goes in to a sideways region where the boundaries are the swing high and the swing low that leads to the swing high of the trend.
Other patterns such as symmetrical, ascending, descending triangle formation also happens when the complex pullback stup fails.
@ Tlahuicole bro, Pardon me for the delayed post..
Now on 18th Oct nifty fut chart, there was a complex pullback setup present. Can you identify it now ?
Regaards
Taiki
Pullback and complex pullback setups are associated with a trend (uptrend/downtrend). So as a first requirement a trend must be present in the chart.
Trend
A trend is nothing but a extension in the direction of the strength, a higher swing high, a pullback/retracement forming a higher swing low.
When does a trend reverse ?
lets consider we are in an uptrend, when the price breaks the swing low which leads to the highest swing high of the trend. Failure to break the swing low that leads to the highest high could simply indicate a complex pullback rather than a reversal.
When to expect a complex pullback ?
A failed simple pullback which does not reverse the trend can setup a possible complex pullback opportunity. The very basic form of complex pullback is 1-2-3 reversal pattern, but a much complex form of continuation is also possible.
What happens when a complex pullback fails ?
When complex pullback fails to break the swing high of the uptrend, price goes in to a sideways region where the boundaries are the swing high and the swing low that leads to the swing high of the trend.
Other patterns such as symmetrical, ascending, descending triangle formation also happens when the complex pullback stup fails.
@ Tlahuicole bro, Pardon me for the delayed post.
.Now on 18th Oct nifty fut chart, there was a complex pullback setup present. Can you identify it now ?
Regaards
Taiki
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