General Trading Chat
- Thread starter timepass
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Perfect !!! i also Don't follow any methods from this forum in total...Adopted VH(Virtual High concept from ST da)..and time frame for swing is set at 15mins as suggested by pratap sir and other traders ,intra as usual 30/5/1...other then this my method is a mixture of price with in demand and supply area with volume as a base...last one which i follow is positional system for NF on bases of EOD chart...
"No two successful traders follow same system"
"No two successful traders follow same system"
no offence, that means to become successful, we must create our own methods?
just asking bcos, "i also Don't follow any methods from this forum in total."
just asking bcos, "i also Don't follow any methods from this forum in total."
Dear vijkris,
Yes , both are saying absolutely correct and and i agreed with them .
In my little own experience three things are important to become successful trader :-
(1) Trader himself is utmost important for success in trading because Good trader can make fortune with avearge Method and bad trader can destroy himself with world best method........ so develop ( Mental/ psychological and physiological ) himself as a good trader.
(2) Develop or chose a Method with positive expectancy and this Method ( setup, R/R, MM ,TM) should be according to your nature and personality.
(3) when you are trading with your method you should be very comfortable ,relaxed and cool and there should be no ambiguity ,anxiety, distraction , psychological/ mental pressure, tension and fear........ for this your trading method must be very simple (not complicated ) and competent for real time trading enviorment.
HEM
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Good off market read: https://en.wikipedia.org/wiki/List_of_cognitive_biases
1. Recency bias
Do you often find yourself zoning in on your most recent trading decisions, thereby losing sight of the big picture? Then you, my friend, may be guilty of having a recency bias!
2. Confirmation bias
As humans, we tend to listen more to analyses that support our own views and opinions and undermine those in opposition. After all, it’s in our nature to want to be right….
3. Herding Bias
Did you ever back out of a trade when you found out that a bunch of other traders are taking the opposite position? If you said yes, then you have fallen victim to herding bias.
4. Bandwagon effect
The tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink and herd behavior
5. Hindsight bias
Sometimes called the "I-knew-it-all-along" effect, the tendency to see past events as being predictable at the time those events happened.
6. Outcome bias
The tendency to judge a decision by its eventual outcome instead of based on the quality of the decision at the time it was made.
1. Recency bias
Do you often find yourself zoning in on your most recent trading decisions, thereby losing sight of the big picture? Then you, my friend, may be guilty of having a recency bias!
2. Confirmation bias
As humans, we tend to listen more to analyses that support our own views and opinions and undermine those in opposition. After all, it’s in our nature to want to be right….
3. Herding Bias
Did you ever back out of a trade when you found out that a bunch of other traders are taking the opposite position? If you said yes, then you have fallen victim to herding bias.
4. Bandwagon effect
The tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink and herd behavior
5. Hindsight bias
Sometimes called the "I-knew-it-all-along" effect, the tendency to see past events as being predictable at the time those events happened.
6. Outcome bias
The tendency to judge a decision by its eventual outcome instead of based on the quality of the decision at the time it was made.
If we are going this way, then better use MF instead of Nifty ...
Some of the stocks that ST has invested in are Bajaj Finance, Maruti, SBI, HDFC bank. Somemore from Motilal Oswal are Sunpharma, ONGC and InterGlobe Aviation. These are for next 5 years. Picking one maye riskier.
BajajFinance is in a very nice bull run/
Some of the stocks that ST has invested in are Bajaj Finance, Maruti, SBI, HDFC bank. Somemore from Motilal Oswal are Sunpharma, ONGC and InterGlobe Aviation. These are for next 5 years. Picking one maye riskier.
BajajFinance is in a very nice bull run/
yes PT Bhai, I also noticed the same thing. FII selling has been continuing even on such a bullish day.
https://imgur.com/onrqYB6
In banking sector, BankBaroda and Ucobank were top gainers. But BankBaroda has seen good long buildup, whereas in case of Ucobank, it was just short covering which caused the price rise.
Same way in the Metal Sector, Jindalstel has seen New Longs, where as NMDC is up based on only short covering.
Can we say that the counters which are up based on New Longs are comparatively stronger then the counters which are up based on only short covering ? What are your views on this aspect ? Please share.
Thanks a lot
https://imgur.com/onrqYB6
In banking sector, BankBaroda and Ucobank were top gainers. But BankBaroda has seen good long buildup, whereas in case of Ucobank, it was just short covering which caused the price rise.
Same way in the Metal Sector, Jindalstel has seen New Longs, where as NMDC is up based on only short covering.
Can we say that the counters which are up based on New Longs are comparatively stronger then the counters which are up based on only short covering ? What are your views on this aspect ? Please share.
Thanks a lot
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