Daily Tryst with Nifty

[AW10]

Congrates for taking this decision to prepare the trading plan. This will certainly strengthen the foundation of your trading.

Some of the pointers that I can give here are
1) Trading plan and trading system are two different stuff. Plan is superset whereas system/strategy is subset. You might have many trading systems suitable for different objectives (day trading strategy 1, swing trading strategy, scalping, positional, breakout, trend following etc etc) /different mkt conditions (sideway, up, down, volatile, quiet, event based etc. ).
TPlan is like business plan. This should give u broad guideline for complete trading. Can address area like your per trade risk/ daily risk/weekly risk/ your fundamental trading belief and rules. Most importantly, this should address what will you do beyond market hour for trading - like post mkt daily analysis, weekly /monthly/quarterly analysis and review routine, what will u look in each of that, what will be the source of your data, your approach etc. My ideal plan will be like QMS (quality mgmt system of a company). Processes and steps are so clearly laid out that it can be outsourced (atleast partially).

More later when you share your plan here.

Happy trading

 

[AW10]

LT, what if he decides to trade Oil/ China market tomorrow. TJ community will be not be sufficient there.
Better to be self reliant in this business.

 

[lazytrader]

LT, what if he decides to trade Oil/ China market tomorrow. TJ community will be not be sufficient there.
Better to be self reliant in this business.

well, it was supposed to be a joke.

I don't look at EOD charts for nifty only intraday. Peoply like Sunil and many other nifty trader post many charts that does it for me. But that just for nifty because nifty trades for me are extremely short term.

I do have proper charts, price and news and volume alerts for my equities. I don't trade equities. Only investment.

So I have different strategies for the two. Not to discourage anyone or downplay the importance of a trading plan but my nifty TA doesn't go much further than Floor Pivots and SMA's.

 

[praveen taneja]

Re: You Have A Long Innings To Play

HARI OM PRAVEEN BHAI :thumb:


WHY ARE YOU CALLING YOUR SELF AN OLD MAN DEAR. 42 YEAR OLD MAN IS NOT THAT AGED.


YOU HAVE A LONG WAY TO GO.


ABHI AAPKO EK LAMBI INNING KHELNI HAI.


THE ONE DAY SERIES IS OVER FOR YOU.


NOW THE TEST MATCH SERIES HAS STARTED.


SO PAD ON AND PLAY IT SAFE


REGARDS,
NISHIKANT K. HADGE

Thank you bro for nice words but I know actual average life in India is around 60+or minus 2so 65% gam eis over now time for Bhajan poojan and I am doing that regularly and I am proud of that
In this world we are send to achieve three targets and difficult task in Kalyug
1.First of all getting human life That I have done think so:lol:,but any body can say trillions are human so next step
2.Santon Ka sang-That I am having and god gave me gems in humans at TJ I can say that loudly
3.To get Moksh - when people are not thinking on that I am trying for that I can happily say that
so bro not boring much want to tell my experience I tried many tips provider n operator types ,tried to learn charts n metastock and many things never I can win on that but now when I lef t all on god My TA (Tukka Analisys) is as sharp as of Ashwini Gujral hahaha n that give me enough in a few trades enough for mine n my families livelihood Just want to tell all can b TA necessary but without the help of god n his blessings it is nothing
God bless us all

 

[praveen taneja]

Praveen Bhai.. abhee tho tum 42 saal ke jawan ho yaar..

Anyway, now when u have got the target of this month then what about giving surpise to your wife/son/daughter and take them out for 1 or 2 days break.

Thoda zindigi mein aish bhee karna chahiye.. nahi toh yeh green/red candle dekh dekh ke hum colour blind ho jayenge..

Have fun man..

Thank you bro for the suggestion but that quota is also completed:clap:
in summer vacation of kids went to Shirdi, Ayodhya,Kashi vishwanath(Banaras)
Ujjain Etc and made that in 4small portions so interest never lost:thumb:
I never see candles so no chance of that
I have in favourite there are many sites dedicated to spiritualism whenever see trade taking time click anyone and read something good that make my trade go for tgt instead of SL:rofl:

 

[WOD]

Re: You Have A Long Innings To Play

Thank you bro for nice words but I know actual average life in India is around 60+or minus 2so 65% gam eis over now time for Bhajan poojan and I am doing that regularly and I am proud of that
In this world we are send to achieve three targets and difficult task in Kalyug
1.First of all getting human life That I have done think so:lol:,but any body can say trillions are human so next step
2.Santon Ka sang-That I am having and god gave me gems in humans at TJ I can say that loudly
3.To get Moksh - when people are not thinking on that I am trying for that I can happily say that
so bro not boring much want to tell my experience I tried many tips provider n operator types ,tried to learn charts n metastock and many things never I can win on that but now when I lef t all on god My TA (Tukka Analisys) is as sharp as of Ashwini Gujral hahaha n that give me enough in a few trades enough for mine n my families livelihood Just want to tell all can b TA necessary but without the help of god n his blessings it is nothing
God bless us all

God only helps to Triers and couragious (these are the only two qualities I possess in abdunance).....

There are many of my co-workers and friends who can not think beyond salaries and busy considering me foolish because I am trying on different path (stock markets).......even my parents asked me to not trade in stock markets.....there are some who trades in stock markets on tips and gives me suggestions to not trade based on TA....

But still I am trying...trying to learn TA....trying to get my trading psychology right.....and I am gonna try this till there is single rupee in my savings account....this is my KARMA and have to do it...

Sucess I have left to the god....and frankely I am sensing the success around the corner because obstacles have already started coming in my way more intensely......

May be few more months and my trust in myself and god will reach to new highets....its no more about money...its about my trust in myself which I had 10 months back and its not even degraded a single percent now even after loosing lacks.....

 

[ag_fx]

Re: You Have A Long Innings To Play

There are many of my co-workers and friends who can not think beyond salaries and busy considering me foolish because I am trying on different path (stock markets).......even my parents asked me to not trade in stock markets.....there are some who trades in stock markets on tips and gives me suggestions to not trade based on TA....

But still I am trying...trying to learn TA....trying to get my trading psychology right.....and I am gonna try this till there is single rupee in my savings account....this is my KARMA and have to do it...

Welcome to the group buddy...Your words remind me of my initial journey....I truly support you friend...we all are here to help you and support you in whatever ways we can, I can....

And you will surely succeeedd...


All the very best

Happy Trading

 

[Mangafreakz]

Deleted .....

 

[ag_fx]

Offtopic - @Ankit sir
In one thread , u had told you work at a national bank as forex trader. Can Indian residents trade Forex from their own accounts from India legally? And also what qualifications one got to have for trading from National Bank , MBA(Finance) ?
Thank you for your time.

Dont call me Sir..Ankit it is.

Yes I work for ICICI Bank as a forex trader....and as far as trading ur own account from india as resident is concerned, even RBI is not clear on it...

I wud tell you some facts and then its your call :

1) According to RBI, it is a grey area. They dont prohibit it and neither allow it for resident indians.
2) There are 100s of guys who dont trade citing abovesaid as a reason....But then there are 10s of dose who do...Its all about how do you percieve it...

3)Before even trying to trade forex with real money, practice Live in demo accounts. They are available a dime a dozen online.
4) many Indians use their friends/relatives abroad to open accounts and trade through them.

Just some facts...And for Forex, lets just keep the conversation away from this thread. This is meant for Nifty day trading.

Happy Trading

 

[Mangafreakz]

Thanks , Deleted my query as got the reply now
Can u mail me your id Ankit , if i had any other queries later.