Live Intraday Trading By Professional traders

[ryan4ucar]

short more at 1236 techm

 

[ryan4ucar]

out techm falt

 

[ryan4ucar]

out half yesbank 310 +3

 

[Vertigo_1985]

several time noticed that 4th test of a trendline often results in trend change or consolidation...today read it in Technical analysis using multiple timeframes too..maybe we can incorporate this in taking profits or initiating counter trades..
Even for triangle consolidation i have often noticed 4th swing to cause breakout from the pattern. What's your observations on this ?

 

[ryan4ucar]

several time noticed that 4th test of a trendline often results in trend change or consolidation...today read it in Technical analysis using multiple timeframes too..maybe we can incorporate this in taking profits or initiating counter trades..
Even for triangle consolidation i have often noticed 4th swing to cause breakout from the pattern. What's your observations on this ?

Well its great you are finding these patterns for me it is only one part of my decision making process , i got short techm because it was the weakest of all it stocks by noon and sudharshan was saying even IT was stalling in the morning ... then there is sector watch ...and the all important intraday and long term levels ... if a stock gets overextended on the 1st day it self i might take a countertrend because of risk reward , i just picked the weakest of the lot ... anyways counter trend trading is good only when the risk reward is great because probabilities are low .. as intraday traders we have to make quick decisions sometimes they are wrong , you have to make sure that your trade size is less when probablities are low but as you get futer confirmations of weakness size can be increased.. these strategies should be there to ensure some income flows ... big money is always in the trend trades

 

[Vertigo_1985]

interesting article on supply/demand vs support/resistance..



http://www.fxstreet.com/education/related-markets/lessons-from-the-pros-futures/2011/04/05/#

 

[Vertigo_1985]

interesting article on supply/demand vs support/resistance..



http://www.fxstreet.com/education/related-markets/lessons-from-the-pros-futures/2011/04/05/#

According to this article there are reactive levels and proactive levels. So, till now i have been using reactive levels. Proactive levels when happen are shown by weakening price action in that area(tails, slowing of momentum, overlapping).

I have my if-then statements ready for a situation and if it happens my way then i would trade. So isn't that proactive ?

I understand that proactive levels should be used only as confirmation to price action, but how advantageous adding them to our strategy would be? or everything we need to know to trade is in plain chart and we don't need to add these ?

Which of the following proactive levels would be an effective addition ?
1. Trendline.
2. EMA.
3. Fibonacci.
4. Pivot levels.

 

[ryan4ucar]

interesting article on supply/demand vs support/resistance..



http://www.fxstreet.com/education/related-markets/lessons-from-the-pros-futures/2011/04/05/#

hmm good article too technical for my liking but still good he could have simplified it ,anyways articles with example make more sense to me then pure theory.

 

[Vertigo_1985]

Well its great you are finding these patterns for me it is only one part of my decision making process , i got short techm because it was the weakest of all it stocks by noon and sudharshan was saying even IT was stalling in the morning ... then there is sector watch ...and the all important intraday and long term levels ... if a stock gets overextended on the 1st day it self i might take a countertrend because of risk reward , i just picked the weakest of the lot ... anyways counter trend trading is good only when the risk reward is great because probabilities are low .. as intraday traders we have to make quick decisions sometimes they are wrong , you have to make sure that your trade size is less when probablities are low but as you get futer confirmations of weakness size can be increased.. these strategies should be there to ensure some income flows ... big money is always in the trend trades

reading volume chapter in the book TECHM came to my mind -
1. 3 days of ranging action and failure to sustain above 1260.
2. Compared to other days, opening volume yesterday was less. When we consider breakout above 1260 also then volume was much lesser. Expected volume was atleast equal to if not more than other days opening session volume.
3. Then it stalled for about 30 minutes above 1270. Break below it then lead it to thursdays range.

As i don't use volume my plan for this week would be to watch volume and it's affect on higher timeframe.

 

[ryan4ucar]

According to this article there are reactive levels and proactive levels. So, till now i have been using reactive levels. Proactive levels when happen are shown by weakening price action in that area(tails, slowing of momentum, overlapping).

I have my if-then statements ready for a situation and if it happens my way then i would trade. So isn't that proactive ?

I understand that proactive levels should be used only as confirmation to price action, but how advantageous adding them to our strategy would be? or everything we need to know to trade is in plain chart and we don't need to add these ?

Which of the following proactive levels would be an effective addition ?
1. Trendline.
2. EMA.
3. Fibonacci.
4. Pivot levels.

I use price levels and trend lines enough for me ... although many sucessful traders do use ema and fibonacci i personally think pivot levels is a total joke ... also reactive practive to much mumbo jumbo ... one needs to build intuition in trading which can only come from reviewing trades and 1000 of charts and following and reading about sucessful traders.