Indicator-Free, Stress-Free Trading

[Agardas]

Nicely said ST.. I was trading in share market for last two years by getting tips from so many sites and ultimately lost heavily, last two months, I was keep searching to find a some suitable system which can give 70 to 80% success rate, here also I ultimately failed as i was not able to establish any system (though so many systems are floating around TJ)..Hope my search ends here and hoping for the best (as usual)


PS;
I trade only in NIFTY FUTURE & I wonder whether any one can get 200 odd points per month on consistent basis. ( 10 points/per day)

10 points everyday consistently

Reminds.. will buy microsoft very soon with Ambani coming as free :rofl:

Ranveer

 

[Khushijain]

Thanks Pride......

 

[rangarajan]

Nicely said ST.. I was trading in share market for last two years by getting tips from so many sites and ultimately lost heavily, last two months, I was keep searching to find a some suitable system which can give 70 to 80% success rate, here also I ultimately failed as i was not able to establish any system (though so many systems are floating around TJ)..Hope my search ends here and hoping for the best (as usual)


PS;
I trade only in NIFTY FUTURE & I wonder whether any one can get 200 odd points per month on consistent basis. ( 10 points/per day)

Why dont you read 'Teach a Man to Fish' by 'Saint' available in this forum.A Golden Treasure for every aspiring investor to become Prosperous & Indipendent.

Also the Threads by 'Savant Garde' for 100% Tension Free success .

Both the above are sureway to recover yourloses Over a period of Time if you have patience.

Add to yr kitty 'The Trading experience of Traderji himself"available in this forum.

Best of Luck

 

[trader.trends]

Hi Pride

Glad you started this thread. Have been trading M and W for quite some time now.Here is NF on 30 June on 5min.

 

[XRAY27]

where to find this red line for the pattern/s this is a question ???
xray27

 

[PGDIMES]

10 points everyday consistently

Reminds.. will buy microsoft very soon with Ambani coming as free :rofl:

Ranveer

Wish you could have read the statement properly before replying... He talked about consistently getting 200 nifty points per month... it doesn't translate to daily gain of 10 nifty points... It's completely possible to achieve that 200-wala target... many traders in this forum is making it consistently... but they donot come in the open to declare that...

and better not add sarcasm when you donot even understand basic statements...

 

[EagleOne]

Pride
Last night SG told me of the beauty of your thread. So I couldn't resist visting it. And he was not exaggerating. Great going!

As SG said in his post, it is damn hard to explain PA (I, however, don't even bother mentioning it! ). But without PA, all patterns are lifeless bodies. No soul. Period.

Besides, the patterns, that you showed, are so universal, so simple to identify, yet sometimes become difficult to trade. Not only for fresh traders like me, but also - I dare say - for seasoned traders like ST or SG!

Why?

I hope you won't neglect this 'Why' in your future posts, otherwise this thread will be just like those threads that read like text books and put you to sleep.

I wish you the very best, and also wish that your thread becomes the pride of TJ.

Will be honoured to visit your thread from now on. Have a nice weekend.

 

[cs bhasin]

Nicely said ST.. I was trading in share market for last two years by getting tips from so many sites and ultimately lost heavily, last two months, I was keep searching to find a some suitable system which can give 70 to 80% success rate, here also I ultimately failed as i was not able to establish any system (though so many systems are floating around TJ)..Hope my search ends here and hoping for the best (as usual)


PS;
I trade only in NIFTY FUTURE & I wonder whether any one can get 200 odd points per month on consistent basis. ( 10 points/per day)

THIS IS FOR U FROM CS BHASIN
1) To start with it is simple but be cautious go only with small lots.
2) A step ahead u need to have a software.
3) After u get the software, then come on the forum or contact me, I will suggest you some simple trick which are successfully tested ones.
OK. Thanks.

 

[AW10]

.Pride. Congrats for starting this thread on Price Action (PA) based trading. TJ is full of indicator based threads, but PA was missing so far.

Great going. Looking forward for some good stuff here. I am predominantly PA trader, hence this thread will be of interest to me.

All the best.. and Happy Price Action Trading.

 

[AW10]

this is what I see...can you see it too?
....

Uploaded with ImageShack.us....

Attaching my marking on the chart.. Specially the first pattern. I see it as test of red line. Hence it is a variation of pattern II. Due to momentum price went above this, but during test of the breakout, it failed and price came back in the previous zone. As far as I see, Pattern III is continuation pattern, whereas Pattern II is reversal. (ofcourse I am assuming that on the left side of chart price showed a bullish trend. It could be very well that it showed downtrend, and we had 2 whipsaw around the redline. In that case, I will agree with marking it as pattern III).

Hope I am correct.

(This typically happens in first touch of important level where high momentum does take the price above the red line, and we don't see clear M pattern but a variation of it.).

Now the question is, how and where do we draw that red line?

answer coming pretty soon...

To start with, I will suggest new traders to take Prev days High / Low as the RED line. If price has to show up-trend in daily timeframe (i.e. TF that big players are focuisng on), then we must see new high today ..and if it has to remain in range, then Prev Days high/low will act as boundry. During the day, most of the time price does test prev days range to test the mood of market participants today - Does majority want market to trend or they are not bothered hence let it remains in a range. If it has remain as range bound day, then we should see M or W pattern, else we should see break of PHOD/PLOD levels, then retracement to check if the breakout is accepted by all participants..and then continuation of move upward.

Is my suggestion OK or you have some other price level in mind.

Happy PA Trading.