How to trade with an oscillator

[murthyavr]

Today/s NF attached.Stayed in O/B zone for 9bars.
But not much of reward when bought on dips.
Pl analyse where one should have gone long on dips with reasons & s/l.

Dear Rangarajan,

While I leave the analysis part to the master, a small advice to you is:

To capture the screen shot, in stead of pressing PrtScr button, hold Alt key
and press PrtScr button. This second method will capture only the active window,
and your chart will be looking good on the forum.

Hope this helps you..

 

[VJAY]

Today/s NF attached.Stayed in O/B zone for 9bars.
But not much of reward when bought on dips.
Pl analyse where one should have gone long on dips with reasons & s/l.

Dear rangarajan,
my veiws on this......when more bars @ OB or OS zone be catious in trade entries....many time it allready moved a lot....here after that 9 bars stoch shows bearish div..means stoch lower low and price higher high...this means price exahusting....so look for other confirmations like this to entry...am weak in explaining things ..hope you got my point...
my todays trades posted in my thread....link on my signature.....

 

[Smart_trade]

Dear Smart,
I am posting today's 5min chart of NF.There were three opportunities to day.
1) Long>4346,11.oam bar,reached High of 5362 before retracing
2)Short<5350.5,11.40bar,low 5348,S/l 5366,PH triggered:annoyed:
3)Again short<5357,13.35bar low,Low5333.65

All trades were qualified as per theory.Initial short at 11.40 was taken when the Trend was down only. No consolidation for b/out.No bullish divergence. Still failed.
Pl explain,what was wrong.Whether the s/l was correct.Any parameter over looked.

Rangarajan,

31 Oct 11:40 short was a qualified trade......but as you will observe that is the time when the short term trend changed from down to sideways......also that day was a small movement day and you cannot put life in a dead cat......but the moment you see that the market is unable to go in the desired direction , get into profit taking mode....

Such things happen in the market.....we possibly cannot predict which trade is not going to make much progress....but the market taking out 10:30 high, indicated that the trend is changing to either up or sideways ....but the downtrend is probably over......

Though I am telling you all these , I too take such marginal trades or even some loosing trades......but your ability to get out of a bad trade with minimum damage will set you apart from other traders on the path of trading mastery..... Look at how the market reversed today in the afternoon....we need to be very nimble in daytrading.....a difficult but essential quality each daytrader must possess.

Smart_trade

 

[Smart_trade]

Hi Smart_trade,

I am a new joinee to this forum. But I have been going thru this forum as a visitor for quite sometime and indeed its a sea of knowledge. I am keen to learn about trading. I have some knowledge about indicators, candlesticks and have tested a few simple systems mentioned in this forum. Read only 1 book till date 'Technical Analysis' by Murphy and have been doing paper trading for past 3-4 months. But I want a more structured approach to my learning so that after sometime (at least 6 months continuosly when I have made good profits) I can trade for living. By the way, I am no college dropout and currently a working professional. Rest assured, this time your experience will not be that bad.

Please guide/ mentor me on how to go about it like which books should I refer, how can I come up with my system, money management, which softwares to use, what should be my monthly target so that I can judge my progress, etc. I want to be on the right track rather than wasting time on useless stuff.

I have seen people sending PMs but I am unable to find that option for me.So, any other way by which I can contact you because some of queries may not be useful to others.

Extremely sorry for off-the-topic post.

Regards,
Doremon

Doremon,

Proficiency in trading is a long and tough journey. I do not think I am competent enough to mentor anyone , besides mentoring takes huge amount of time and energy and currently I am short on both....but if you have any questions from time to time, post them in the forum, there are many knowledgeable members here who will guide you properly.

Best wishes....

Smart_trade

 

[Smart_trade]

Today/s NF attached.Stayed in O/B zone for 9bars.
But not much of reward when bought on dips.
Pl analyse where one should have gone long on dips with reasons & s/l.

Rangarajan,

Vjay has answered your question very well.

In the morning session , buying on dips made money....but in the afternoon, market changed its trend to down.....the first sign of trouble came in 1:00 bar on 5 min timeframe. This bar closed below the earlier pivot highs it had taken out and that bar put the uptrend in trouble.

After it cracked 2:20 low....the trend direction was confirmed as down and reversal to short gave profitable trade.

Smart_trade

 

[rangarajan]

Dear Rangarajan,

While I leave the analysis part to the master, a small advice to you is:

To capture the screen shot, in stead of pressing PrtScr button, hold Alt key
and press PrtScr button. This second method will capture only the active window,
and your chart will be looking good on the forum.

Hope this helps you..

Thank u murthy.
As already posted by me in this thread,i am computer illiterarate & learning When v r on the subject,i am unable to post more than one chart because of restriction.I have to delete previous attachments to post new ones.Pl provide a solution.

 

[VJAY]

Thank u murthy.
As already posted by me in this thread,i am computer illiterarate & learning When v r on the subject,i am unable to post more than one chart because of restriction.I have to delete previous attachments to post new ones.Pl provide a solution.

Use imageshack dot com for uploading ur chart and give link for the forum here...so your chart will displayed in your post......

 

[timepass]

Thank u murthy.
As already posted by me in this thread,i am computer illiterarate & learning When v r on the subject,i am unable to post more than one chart because of restriction.I have to delete previous attachments to post new ones.Pl provide a solution.

Hello RR, click here to learn how to post images using imgur.com. There are other similar sites too like imageshack, tinypic etc.

 

[rangarajan]

Dear rangarajan,
my veiws on this......when more bars @ OB or OS zone be catious in trade entries....many time it allready moved a lot....here after that 9 bars stoch shows bearish div..means stoch lower low and price higher high...this means price exahusting....so look for other confirmations like this to entry...am weak in explaining things ..hope you got my point...
my todays trades posted in my thread....link on my signature.....

Thank u Vijay & Smart for the input.
Compiling all the inputs,it is becoming easier to trade with stochastic strategy of Smart with confidence.
Ofcourse mkt is the king & my days of STUPID Trading are History.
But Capital & Knowledge are inversely proportional.:annoyed:

 

[rangarajan]

Hello RR, click here to learn how to post images using imgur.com. There are other similar sites too like imageshack, tinypic etc.

Thank u timepass & Vijay.I will try & revert.
Knowledge is Power.