Learning to catch High Probability Breakouts

[amitrandive]

Nitinji

Short term finds are many depending on where you are looking.Thousands of stocks breaking out and breaking down everyday.

Daily TataSteel

Currently seems to have given breakout from base.Need to study further price action.


Disclaimer:This is not a trading call.This is for educational purpose only.

Sometimes we are able to catch winners and other times we learn from false breakouts.

Daily TataSteel

 

[amitrandive]

Stop loss hitting Rise before the fall or true breakout on upside?

So a stop loss hitting rise before the fall.Nifty not able to cross the resistance.


NF 5 min

My post in another thread.

 

[ravi2126]

AMIT 'JI,

can v say that last candle is "hanging man reversal" candle ?

 

[amitrandive]

AMIT 'JI,

can v say that last candle is "hanging man reversal" candle ?

RaviJi

I do not follow candlestick patterns except at important support and resistances,so cannot comment on it.

I firmly believe that candlestick pasterns should not be studied in isolation but along with the overall trend and only at important support and resistance.

Having said that the consequent candle has to be narrow range or bearish candle to confirm the pattern.

 

[Rish]

Sometimes we are able to catch winners and other times we learn from false breakouts.

Daily TataSteel

Tata Steel (future) Stiff Support 312, Breaks, then Major Support 306 / 286 / 275.40.

Close below 312 weekly basis, then again trend may be weak in the medium Term. 312 will be a major level as such..

The above levels are just for knowledge purpose and not a trading call.

 

[sunny_cool]

LT~DAILY

Seems good to short ?

 

[nitingosavi]

Fingers crossed.
Tatamotors ftures chart.

as anil sir said probability is will stay in range !

 

[amitrandive]

Do not drawn into the market by sudden movements of the market or what other people say. Read the chart, establish the bias, and follow your plan for trading various market conditions (range-bound, trending). Know your turf. Mark your territory. Do what works over the long run.

Discipline your game... it is more like patience - pacing yourself (especially emotionally) for the length of the game. This is the Zen concept of retaining composure being unaffected by outside forces.
It is different than mere patience, however. It comes from a larger and longer-term view of things - one that steps back and sees things as a whole."

Fulfill one's role as a trader each moment - a trader's actions should be in tune with the ever-changing market instead of one's own agenda. There is no need to call for perfection in the maneuvers as long as one never deviates from the focus in fulfilling that role. Winning streak can make a trader focus on the numbers rather than be in touch with his role. So is losing streak.

Focusing too closely at the prices on the screen can put one into light hypnotic trance. Avoid emotional self-sabotage and negative self-talk during trading. Correct any error in the mind's eye. Revise the game plan to handle the situation if needed. One must also understand that not all losing trades are mistakes - the market is simply a game of odds. Don't be too hard on oneself regardless.

Source:http://www.elitetrader.com/et/index.php?threads/zen-and-the-art-of-trading.38333/page-20

 

[Rish]

Do not drawn into the market by sudden movements of the market or what other people say. Read the chart, establish the bias, and follow your plan for trading various market conditions (range-bound, trending). Know your turf. Mark your territory. Do what works over the long run.

Discipline your game... it is more like patience - pacing yourself (especially emotionally) for the length of the game. This is the Zen concept of retaining composure being unaffected by outside forces.
It is different than mere patience, however. It comes from a larger and longer-term view of things - one that steps back and sees things as a whole."

Fulfill one's role as a trader each moment - a trader's actions should be in tune with the ever-changing market instead of one's own agenda. There is no need to call for perfection in the maneuvers as long as one never deviates from the focus in fulfilling that role. Winning streak can make a trader focus on the numbers rather than be in touch with his role. So is losing streak.

Focusing too closely at the prices on the screen can put one into light hypnotic trance. Avoid emotional self-sabotage and negative self-talk during trading. Correct any error in the mind's eye. Revise the game plan to handle the situation if needed. One must also understand that not all losing trades are mistakes - the market is simply a game of odds. Don't be too hard on oneself regardless.

Source:http://www.elitetrader.com/et/index.php?threads/zen-and-the-art-of-trading.38333/page-20

Most important point, if you want to be good trader...:thumb::thumb::thumb::thumb:

 

[nitingosavi]

nifty fut Hrly.
expiry within 2 sessions.
is it a valid HnS ?