General Trading Chat

[NoviceStockTrader]

DJIA is down today and SGX is also in red. Can we knock off recent lows tomo?

I see most of the index stocks painting bearish charts. If some of the banks join in then nifty can be in a tough spot. Specially, in Jan/Feb series as Donald trump takes office on 20th and we will have budget announcements in Feb.

No guessing as to what the market will/can do. Just being aware of the circumstances.

 

[Rish]

DJIA is down today and SGX is also in red. Can we knock off recent lows tomo?

I see most of the index stocks painting bearish charts. If some of the banks join in then nifty can be in a tough spot. Specially, in Jan/Feb series as Donald trump takes office on 20th and we will have budget announcements in Feb.

No guessing as to what the market will/can do. Just being aware of the circumstances.

Yes...I feel so...

Nifty weekly close below 8048.....further bleeding may start and continue...now major level upside 8123.....good resistance...

All above levels are, knowledge purpose and not a tips...

 

[ravi2126]

Method of finding stocks to trade using Relative strength analysis explained
http://www.definedge.com/how-to-find-stocks-to-trade-relative-strength-analysis/

 

[vagar11]

Just saw this in CNBC TV 18 :

Anchor : So whats your call on Nifty now ?

One technical analyst : I am looking to buy nifty here..with a SL of 7900.. The market can bounce upto 8100..as early as tomorrow.. provided there are global support..

Anchor : what kind of global support ?

Analyst : I mean..surging world markets..that can lift us ...

Anchor : But world markets are already surging for last few weeks and we are going down..what else do you want..

Analyst : Err..hmm.. this time it might happen reverse..i.e global markets going down and we going up..thats the support I am looking for....

highly hilarious and entertaining conversation indeed...

Who was the analyst ?

 

[STRATEGICINVESTMENTS]

Hrly charts of BNFTY and NFTY

 

[john302928]

My minimum requirement for wave D was 8076 so far today it touched 8075. I wouldnt be surprised if wave D is completed now. So wave E might start at anytime either now or bit more correction. But I am expecting it to reverse for E wave now. This E wave could be a shorter one. So if it is going to be a triangle then good sell off is coming on the way.But after E wave if the downward movement is like snail in one to 3 days then trend might reverse on upside considering this triangle completes the correction.Stay safe.

D wave took bit more correction as suspected. But i was expecting it to reverse from 8075 zone itself but since I was having a buffer for wave D as bit more correction as 7990 but it went around 7940 zone. Now it looks wave D is completed and wave E is in progress so we are inching towards the sell of point. Stay safe. the statement which i stated in the trailing message for wave E is applicable. If there is going to be a sell off then usually Fundamental negative news should come in.

 

[john302928]

Dear Moderators and Admin and fellow people
Does anyone have the excel file discussed in the below link. If so please send it to my mail. Thanks. mail id is in my signature

http://www.traderji.com/software/71...downloader-v1-0-year-1991-current-date-2.html

 

[trader.trends]

I have been trading a my system on NF wherein I take only one trade a day. I take only the first trade generated by the system. I don't have to spend much time at the screen as I punch in the long and short trade almost in the first minute. One of the trade gets triggered and the other acts as the SL for the trade. I am not a full time trader so spending the few minutes a day suits my life style.

This year I have got 792 NF points and I am very happy with it for the time spent. When I analyse my trades, I find that Fridays of the year have led to a cumulative loss of 327 points. That is if I had not traded on all the Fridays, I would have got 1119 points instead of 792 points. When I go back and do a back test of the previous year 2015, I find the same result, the overall points would have been higher by a couple of hundred points if I had not traded on Fridays.

My summation was that since Fridays tend to be weekly close days, more Fridays may see a two way movement than the other days of the week. Is my surmise correct or am I basing it on a small sample (of just two years).

I wish to know from others do you optimize your trading system based on the Weekdays. Are there some weekdays where the probability of trade becoming profitable is higher as per your system?

 

[NoviceStockTrader]

Friday=Fry day

 

[john302928]

Its an impressive one. Could you please share your strategy so that we can also take benefit out of it and see if there is a possibility to fine tune it better.
Thanks

Trading fridays are bit awkward ones. Because saturday and sunday coming after friday. So time decay takes place. Writing could take place more than other trading sessions logically. that could be the reason why you had more losing trades on fridays

I have been trading a my system on NF wherein I take only one trade a day. I take only the first trade generated by the system. I don't have to spend much time at the screen as I punch in the long and short trade almost in the first minute. One of the trade gets triggered and the other acts as the SL for the trade. I am not a full time trader so spending the few minutes a day suits my life style.

This year I have got 792 NF points and I am very happy with it for the time spent. When I analyse my trades, I find that Fridays of the year have led to a cumulative loss of 327 points. That is if I had not traded on all the Fridays, I would have got 1119 points instead of 792 points. When I go back and do a back test of the previous year 2015, I find the same result, the overall points would have been higher by a couple of hundred points if I had not traded on Fridays.

My summation was that since Fridays tend to be weekly close days, more Fridays may see a two way movement than the other days of the week. Is my surmise correct or am I basing it on a small sample (of just two years).

I wish to know from others do you optimize your trading system based on the Weekdays. Are there some weekdays where the probability of trade becoming profitable is higher as per your system?