General Trading Chat

[arsh22g]

A lot of times, NF breaks structure in the opposite direction, just to continue towards our intended direction. This is classic SL hunting. I used to be a victim of this earlier, but have gained some wisdom after experiencing pain.

But today, I don't know what I was thinking, got hunted again.

Lower line is short initiation, upper line is SL.
I put SL at 7529, which was too close to the structure high. I usually put it 4-5 points away, and if there is a round number nearby, say a multiple of 5 or 10, I would put 2-3 points away from that as well.

Would like to know how seniors handle it.

 

[amitrandive]

A lot of times, NF breaks structure in the opposite direction, just to continue towards our intended direction. This is classic SL hunting. I used to be a victim of this earlier, but have gained some wisdom after experiencing pain.

But today, I don't know what I was thinking, got hunted again.

Lower line is short initiation, upper line is SL.
I put SL at 7529, which was too close to the structure high. I usually put it 4-5 points away, and if there is a round number nearby, say a multiple of 5 or 10, I would put 2-3 points away from that as well.

Would like to know how seniors handle it.

Even Seniors buckle under pressure sometimes , they are human too !!!

We all have our shares of huge and bad losses and revenge trading.

The successful traders bounce back from it by waiting for their setups and not trading on impulse.

Consistency is the key.

Just some weekend reading ,

http://winvesting.com/5-steps-to-becoming-a-consistent-trader/

Amateur Traders

• Focus on how much money they are going to make.
• Focus on winning trades.
• Believe that learning more about an indicator will make them a better trader.
• Believe that learning more about the market or changing to a new super-improved proprietary indicator will make them a better trader.

Professional Traders

• Focus on learning more about themselves.
• Focus on consistency.
• Focus on how to minimize losses.
• Understand how to control fear and greed, and understand the psychology of the masses.

 

[WaveSurfer]

I want to run this scan on Nifty50 and Midcap components ...
For sell :
50 sma < 100 sma
5 sma > 50 sma

For buy :
50 sma > 100 sma
5 sma < 50 sma

Now , i wanna know on which software or website can i get this ? TIA !

 

[Smart_trade]

Traders have to have a good knowledge of taxation ,income tax exemptions,return filing,advance tax payment,TDS,assessment, etc.In my early days I used to attend tax implications lectures on budget by eminent speakers like N.A.Palkhiwala,H.P.Ranina,Dinesh Vyas,Subhash Lakhotia etc which used to be held immediately after budget presentation.

In April we will get a book called Income Tax Ready Reckoner.It used to cost Rs 250 now it may be costing Rs 500 but that is a good reference for the next full year for all our income tax questions.New traders can try that book in April this year. It has wealth of information.

Smart_trade

 

[arsh22g]

I want to run this scan on Nifty50 and Midcap components ...
For sell :
50 sma < 100 sma
5 sma > 50 sma

For buy :
50 sma > 100 sma
5 sma < 50 sma

Now , i wanna know on which software or website can i get this ? TIA !

Zerodha Pi, upto 119 days backtest. Amibroker, unlimited backtest.

 

[traderniftybank]

eulope huge gleen gleen,
amleeka bhi big gleen gleen
sgx bhi gleen gleen

to nifty kyon na hoga gleen gleen
baki monday dekh lenge

 

[vivektrader]

ITF is intraday method so at the open if we break earlier day's VP or after sustained move we open in the direction of the move with a gap and the first bar is rejected then we take a trade in reverse direction .Stop and reverse if we break a VP without having any MP in between then it is a case of stop and reverse.

Many use ITF for swing but originally it is intraday method.


ST

Sir, by opening bar rejection, do you mean that first bar inspite of gap opening in yesterday's direction closes inside the body high of Yesterday's range, and we should enter low of that bar (if yesterday was up)?

"Stop and reverse if we break a VP without having any MP in between then it is a case of stop and reverse"
Sir I could not understand this statement of yours(apologize for being naive), if you could elucidate further.
Thanks
Regards always.

 

[WaveSurfer]

 

[pratapvb]

If we have to take a call-put on this method and chart..how to do it Sir?
Jidhar se long liya hai,vahi se 7500CE buy..like that?

If you take atm pe ce you would get only about 50%.. Like 20 pt move you will get 10

In swing I use options and I take deep itm which has delta close to 0.9

 

[wisp]

What hope is there for this country?