General Trading Chat

[NoviceStockTrader]

Along with 8000 going so is my sl :annoyed: -80 nifty points for the month. Have gotten whipsawed this month a bit. A few of my long IT holdings are doing well. Looking at the slow grinding moves thinking of staying out of swing trading for a few days till a strong and clear trend emerges.

Sideways is horrible to trade. I switch to a 1 min tf when its sideways and try to scalp small moves

 

[VJAY]

Here we all (most of us) trading with their charts .most of us not predicting or hoping ..if 7500 comes its great we also trade it but trade it with chart not expecting it....

 

[wisp]

No reason why it should not. What is the reason/excuse bulls have now to propel market higher? Our economy is in doldrums. All expectations have been belied, hopes have been shattered. No New progressive, reformist step by government. It will take a miracle if we do not go below 7500 before March 2017.

Indian economy

Now we know why Raghuram Rajan had to leave!

 

[wisp]

Sideways is horrible to trade. I switch to a 1 min tf when its sideways and try to scalp small moves

Does this switching during sideways ever negatively impact your trades on a trend day?

 

[VJAY]

No reason why it should not. What is the reason/excuse bulls have now to propel market higher? Our economy is in doldrums. All expectations have been belied, hopes have been shattered. No New progressive, reformist step by government. It will take a miracle if we do not go below 7500 before March 2017.

Even it comes below 7500 nothing with economy.We seen these type of time correction many times in uptrending market...

 

[pratapvb]

Along with 8000 going so is my sl :annoyed: -80 nifty points for the month. Have gotten whipsawed this month a bit. A few of my long IT holdings are doing well. Looking at the slow grinding moves thinking of staying out of swing trading for a few days till a strong and clear trend emerges.

swing has clearly been down

 

[TraderRavi]

weekly expiry => what is the impact on banknifty behaviour on thursdays ? compared to earlier when no weekly expiry.

 

[wisp]

Even it comes below 7500 nothing with economy.We seen these type of time correction many times in uptrending market...

I agree, its all about price pressure. Elliott wave folks say, that even if it looks like price reacts to a news event, in fact, the move has already been decided by the actions of thousands of traders prior to that and the pressure they have built in price, how far price moves could be influenced by a news event, but the move itself was already built in is what they say. there were many examples of charts given too.

 

[NoviceStockTrader]

Does this switching during sideways ever negatively impact your trades on a trend day?

Not really. You get used to it over time. Necessity is the mother of all invention!!

 

[pratapvb]

Daily WW in NF still moving nicely

ideally today tomorrow should be target achieving day