Learning to catch High Probability Breakouts
- Thread starter amitrandive
- Start date
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sorry sir
but this is not bullish engulfing, 2 reasons
1. The red candle and white candle should be appx of same height or appx 70%height
2. Bullish engulfing and bearish engulfing are trend change setup, they are valid only when there is downtrend or uptrend, in this case it is not
This is as per my knowledge of these setup, may be i m wrong, any senior pls clarify
thanks
but this is not bullish engulfing, 2 reasons
1. The red candle and white candle should be appx of same height or appx 70%height
2. Bullish engulfing and bearish engulfing are trend change setup, they are valid only when there is downtrend or uptrend, in this case it is not
This is as per my knowledge of these setup, may be i m wrong, any senior pls clarify
thanks
AnilJi
A clear definition is,
A bullish engulfing pattern is a chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or "engulfs" the previous day's candlestick.
There is no size constraint(body ratio wise) on a bullish engulfing candle.
Regarding location.It may be a Bullish engulfing candle if in a downtrend or a Last engulfing candle in an uptrend
http://thepatternsite.com/BullEngulfing.html
http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/BullishEngulfing.html
http://www.investopedia.com/terms/b/bullishengulfingpattern.asp
A clear definition is,
A bullish engulfing pattern is a chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or "engulfs" the previous day's candlestick.
There is no size constraint(body ratio wise) on a bullish engulfing candle.
Regarding location.It may be a Bullish engulfing candle if in a downtrend or a Last engulfing candle in an uptrend
http://thepatternsite.com/BullEngulfing.html
http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/BullishEngulfing.html
http://www.investopedia.com/terms/b/bullishengulfingpattern.asp
Hello everyone,
First of all, sorry for the lateeee update. I am little busy with my work and am not getting enough time to post charts over here and to go through the posts. Hope all are getting good profits , especially amit and indianbank ji.
I will try to use this post particularly for 2 things :
1) To give my views which would help others to have some realistic views (especially for new or traders with un-real expectations)
2) To review the charts I posted earlier in this thread and the stock performance
1)
I have gone through some posts recently and see there are still many traders who have very very unreal and high expectations(which is no sin but it only comes to you with some proper study and trade management).
First of all let me tell you a little bit about me :
I completed my graduation in 2011 and was a topper through out my life. I never gave a sh*t about a job so with my brother started trading in stock market with half-knowledge(yes, half-knowledge is a big sin) and lost about 50 K . Then learnt about candle-sticks, strategies etc etc and came back with a big 5-6 L because we wanted to make some real big money in a very very short period and took position in some stocks, some did bad and some other did worse.(It was a period of 2011-12 where the market fell to 4000+ levels). We still had some stocks left which we took position at a very low price but due to emergency had to get out of all the positions to liquidate them and have cash to repay debts. The positions we had became about 5 times in just 6-12 months period.
Lessons learnt from the above experience : Never trade with borrowed money.
Then I learnt more and more and started doing well in equities with a decent amount. Here the greed factor came into play which didn't gave me satisfaction even after making almost 1% of my trading cap on intraday basis for some good trading sessions. Then I got into F & O and started playing with options. Some did extremely well(because I was not bad with chart reading) but I paid heavy price by not booking the profits and letting them run into losses with the time decay. At the very same time I had a low paying job which was not fulfilling all my needs and had a bad breakup so had a emotional unbalance too. I left my job. I started showing all my anger, ego, aggression, greed, fear and all kind of emotions in my trades and burst my account multiple times.
I ran out of money and the very people who were praising me and wanted to be like me in studies started making fun of my position and even relatives too did the same(BTW, I lost my father too in the same period which did add up responsibilities and also emotional stress to me). I took a good 6 months break and kept on learning all kind of things and improved on the things which I already know but wasn't implementing.
I started working as a freelancer and did some really good work(I am skillful but the only thing was I wasn't using it well before). One of the client I worked for offered me a very good paying remote job. I then started working for him and also started my own company. Now, most people in my city working in this industry know me(We work for our competitors too as most of them were outsourcing to us in our early days, we started as web development company and are now a good name in Digital marketing and SEO too apart from website development, I don't want to take my company name as I don't want to use this for advertisement). You can't even imagine the respect which people have for me now and especially the financial peace that I have now. Then I started mostly positional trading and it is paying me really really well especially because I am no way worried about the positions or the money in my trading account. I clearly know my risk apatite and am investing the same. I can easily hold for the stocks in my account for next 5-10 years if required.
Moral : I would like to ask all the new/novice or traders who are still struggling to make money, please take a break for some time and apply your skill to earn some money in the mean time with a full time job/freelancing. If possible, have a job and once you have a decent amount in your account which you can keep in a locker without opening it for next 5-10 years, get back to trading(if you are still passionate about it) , start picking good stocks or if you are not aware of it, you can check some threads in traderji to get a decent knowledge. I strongly believe it will make a huge difference to you especially from the emotional perspective. Trust me, the level of confidence you would have once you are financially relaxed is above imaginable. Just be true to yourself.
I am really busy with my work and value my time more than anything(maybe more than money) but am taking so much of time not to get any recognition or anything, this is my sincere effort to give back to the trading community as it is very sad to see so many people lose so much money which they can't afford. I will be happy even if this helps a single person.
2) Performance of the charts I posted :
Tata motors @ 468-469 high - 556 went upto 440 on Brexit CMP- 550 gave about 20%
Jayant Agro @ 246-250 high - 358 CMP- 345 about 40-45 %
Uflex @ 242 high - 259 CMP-257 about 5-10 %
Gujrat Ambuja Expo @ 65-66 high-93.5 CMP-86.75 about 40-45 %
JVL Agro @ 22-23 high-25 CMP-17.5 about 10 % to high and about 15-20 % to CMP
Escorts @200-201 high-337 CMP-332.5 about 65-70 %
Almost all are found between 20-25 June,16
Among the picks, JVL agro is a real bad pick(it was a suggested stock which I got tempted to, I got out early from this though ).
Uflex is a strong stock, it was consolidating in the same range and seems broke out of the range last week so expect it to move now.
Escorts, Gujrat ambuja, Jayant gave some good returns as I believe in any type of market 40-70 % returns in about 2 months period is a solid returns. Tata Motors on the other hand is looking super hot to me. Technically it is looking good to me(I might be wrong) but fundamentally it is trading at a very low P/E and Cost to Book value among all its peers. Maybe there is still lot of steam left in this. Brexit effect and pound value will be more or less managed by the company as Brexit will take 3 years.
Disclaimer : The above expressed are only my view points and they might differ for you so please see if you can apply it to you and get some value or else have your own approach. I am no stock market expert and recommend your own analysis combined with risk management before trading in any of my picks. BTW, I am not a tips provider
If you feel this post doesn't belong here, you can move it to any relevant location.
First of all, sorry for the lateeee update. I am little busy with my work and am not getting enough time to post charts over here and to go through the posts. Hope all are getting good profits , especially amit and indianbank ji.
I will try to use this post particularly for 2 things :
1) To give my views which would help others to have some realistic views (especially for new or traders with un-real expectations)
2) To review the charts I posted earlier in this thread and the stock performance
1)
I have gone through some posts recently and see there are still many traders who have very very unreal and high expectations(which is no sin but it only comes to you with some proper study and trade management).
First of all let me tell you a little bit about me :
I completed my graduation in 2011 and was a topper through out my life. I never gave a sh*t about a job so with my brother started trading in stock market with half-knowledge(yes, half-knowledge is a big sin) and lost about 50 K . Then learnt about candle-sticks, strategies etc etc and came back with a big 5-6 L because we wanted to make some real big money in a very very short period and took position in some stocks, some did bad and some other did worse.(It was a period of 2011-12 where the market fell to 4000+ levels). We still had some stocks left which we took position at a very low price but due to emergency had to get out of all the positions to liquidate them and have cash to repay debts. The positions we had became about 5 times in just 6-12 months period.
Lessons learnt from the above experience : Never trade with borrowed money.
Then I learnt more and more and started doing well in equities with a decent amount. Here the greed factor came into play which didn't gave me satisfaction even after making almost 1% of my trading cap on intraday basis for some good trading sessions. Then I got into F & O and started playing with options. Some did extremely well(because I was not bad with chart reading) but I paid heavy price by not booking the profits and letting them run into losses with the time decay. At the very same time I had a low paying job which was not fulfilling all my needs and had a bad breakup so had a emotional unbalance too. I left my job. I started showing all my anger, ego, aggression, greed, fear and all kind of emotions in my trades and burst my account multiple times.
I ran out of money and the very people who were praising me and wanted to be like me in studies started making fun of my position and even relatives too did the same(BTW, I lost my father too in the same period which did add up responsibilities and also emotional stress to me). I took a good 6 months break and kept on learning all kind of things and improved on the things which I already know but wasn't implementing.
I started working as a freelancer and did some really good work(I am skillful but the only thing was I wasn't using it well before). One of the client I worked for offered me a very good paying remote job. I then started working for him and also started my own company. Now, most people in my city working in this industry know me(We work for our competitors too as most of them were outsourcing to us in our early days, we started as web development company and are now a good name in Digital marketing and SEO too apart from website development, I don't want to take my company name as I don't want to use this for advertisement). You can't even imagine the respect which people have for me now and especially the financial peace that I have now. Then I started mostly positional trading and it is paying me really really well especially because I am no way worried about the positions or the money in my trading account. I clearly know my risk apatite and am investing the same. I can easily hold for the stocks in my account for next 5-10 years if required.
Moral : I would like to ask all the new/novice or traders who are still struggling to make money, please take a break for some time and apply your skill to earn some money in the mean time with a full time job/freelancing. If possible, have a job and once you have a decent amount in your account which you can keep in a locker without opening it for next 5-10 years, get back to trading(if you are still passionate about it) , start picking good stocks or if you are not aware of it, you can check some threads in traderji to get a decent knowledge. I strongly believe it will make a huge difference to you especially from the emotional perspective. Trust me, the level of confidence you would have once you are financially relaxed is above imaginable. Just be true to yourself.
I am really busy with my work and value my time more than anything(maybe more than money) but am taking so much of time not to get any recognition or anything, this is my sincere effort to give back to the trading community as it is very sad to see so many people lose so much money which they can't afford. I will be happy even if this helps a single person.
2) Performance of the charts I posted :
Tata motors @ 468-469 high - 556 went upto 440 on Brexit CMP- 550 gave about 20%
Jayant Agro @ 246-250 high - 358 CMP- 345 about 40-45 %
Uflex @ 242 high - 259 CMP-257 about 5-10 %
Gujrat Ambuja Expo @ 65-66 high-93.5 CMP-86.75 about 40-45 %
JVL Agro @ 22-23 high-25 CMP-17.5 about 10 % to high and about 15-20 % to CMP
Escorts @200-201 high-337 CMP-332.5 about 65-70 %
Almost all are found between 20-25 June,16
Among the picks, JVL agro is a real bad pick(it was a suggested stock which I got tempted to, I got out early from this though ).
Uflex is a strong stock, it was consolidating in the same range and seems broke out of the range last week so expect it to move now.
Escorts, Gujrat ambuja, Jayant gave some good returns as I believe in any type of market 40-70 % returns in about 2 months period is a solid returns. Tata Motors on the other hand is looking super hot to me. Technically it is looking good to me(I might be wrong) but fundamentally it is trading at a very low P/E and Cost to Book value among all its peers. Maybe there is still lot of steam left in this. Brexit effect and pound value will be more or less managed by the company as Brexit will take 3 years.
Disclaimer : The above expressed are only my view points and they might differ for you so please see if you can apply it to you and get some value or else have your own approach. I am no stock market expert and recommend your own analysis combined with risk management before trading in any of my picks. BTW, I am not a tips provider
If you feel this post doesn't belong here, you can move it to any relevant location.
Last edited:
Apart from the above picks, I traded in Ujjivan(purely momentum), ALLsec, Trident and some other picks which gave some good momentum. I found some good picks which might help others and will try to post the charts whenever I get enough time for same. In the meantime, wish all the members of tj more and more profitable trades.
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| D | Shared Learning: Swing Trading Wisdom for the Indian Market | Swing Trading | 0 | |
| N | Learning! | Beginners Guide | 16 | |
| N | Learning to trade(I'm new to this). | Beginners Guide | 0 | |
| N | Learning from zero | Beginners Guide | 11 | |
| F | Learning to Fish | Technical Analysis | 10 |
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