You observe something from the above. Its not the problem with the stocks. Its a problem with you. Please stop trading. Go back to basis. Read books. Come back later. You can always make money. But, at least do your homework. Know what you are doing. Winning or Losing is not the question. They are part of the risk of trading. But, if you follow certain methodology, mentally prepared, follow specific money management, you have chance of reducing losses versus winnings. Even if you lose, at least you can take home that you gave your best shot. What I mean to say is, You Will Not Feel Like a Loser.
I suggested not to enter before it comes out of the trading range. You see couple of stocks discussed above. They have been stuck in trading range for 6 months to 1 year. What a waste of money's time. Rather, in this bull market, you need to find stocks like Pidilite which are nicely trending just like the market.
You might be wondering why I want all data chart. Before I trade a stock, I like to know its history. I always look at all the data. If there is noise in daily data, I look at weekly chart to get feel for the stock. Each stock is different like each of us. They display different patterns. By looking previous data, you can rationalize how they acted before. So, you can decide how its going to doing now.
You can take 3 approaches.
1) Don't predetermine the market. Let the market determine by its movement. This is what I mean
a. If the index is going up, the stocks are not doing the same, you should find less no of entries. Obviously, you will be trading less.
b. If the index is going up, the stocks are going down and you are getting stopped out. Isn't market telling you something.
2. If you are not confortable with the market (indicators are telling you or for whatever reasons), reduce the position size. Lets say your money management formula requires you to trade 200 shares. You would only trade 50% (or whatever) of the position, i.e., 100 shares. You can take this approach if you feel the market conditions are not ideal.
3. Your idea is not bad either. Nobody would penalize you for not trading. Atleast we know that for sure, you would not lose money by not trading.
But, just because something is going up doesn't mean it is going to come down pretty soon. I want to stress on "pretty soon". Thats the issue with the stock market. Anybody can predict whether some xyz stock will go up or down. The question is when? Time is the question. That is why peers suggest not to try to pick top or bottom of the stock. Trail your stops and let the market tell by its movement whether you need to be there or not.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
I suggested not to enter before it comes out of the trading range. You see couple of stocks discussed above. They have been stuck in trading range for 6 months to 1 year. What a waste of money's time. Rather, in this bull market, you need to find stocks like Pidilite which are nicely trending just like the market.
You might be wondering why I want all data chart. Before I trade a stock, I like to know its history. I always look at all the data. If there is noise in daily data, I look at weekly chart to get feel for the stock. Each stock is different like each of us. They display different patterns. By looking previous data, you can rationalize how they acted before. So, you can decide how its going to doing now.
You can take 3 approaches.
1) Don't predetermine the market. Let the market determine by its movement. This is what I mean
a. If the index is going up, the stocks are not doing the same, you should find less no of entries. Obviously, you will be trading less.
b. If the index is going up, the stocks are going down and you are getting stopped out. Isn't market telling you something.
2. If you are not confortable with the market (indicators are telling you or for whatever reasons), reduce the position size. Lets say your money management formula requires you to trade 200 shares. You would only trade 50% (or whatever) of the position, i.e., 100 shares. You can take this approach if you feel the market conditions are not ideal.
3. Your idea is not bad either. Nobody would penalize you for not trading. Atleast we know that for sure, you would not lose money by not trading.
But, just because something is going up doesn't mean it is going to come down pretty soon. I want to stress on "pretty soon". Thats the issue with the stock market. Anybody can predict whether some xyz stock will go up or down. The question is when? Time is the question. That is why peers suggest not to try to pick top or bottom of the stock. Trail your stops and let the market tell by its movement whether you need to be there or not.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.