My daytrading

[Raghavacc]

Hi Raghav,

Thank you so much for your posts. For people like me who are not naturally talented as a traders your posts are a great learning. I have read alot of books but learnt more from your posts. I have started paper trading and took a trade today and wanted to know if i followed your system correctly. The only thing i want is to be able to learn and follow the system religiously because thats the only thing that will help me in the long run.

Took following trade in Nifty. Short at 5396 with SL and 5403 [62.8% retracement]

Regards
Nitin

Hello Nitin.

All I wanted was an effort from you guys like this. Do not hesitate.Put charts. Ask questions. Every one makes mistakes. The one who does not mistake is the person who is not putting any effort.

Coming back to above chart I am not sure whether it is 61% or 32 % retracement?Let me go through my chart and come back to you.

 

[murthyavr]

Hello kmgsm,

Good going.

I think I cannot clearly see the volume in your chart.Let me go through my chart and I will surely comment.

Excuse me if I am naive..

Exhaustion gap is found at the end of the trend and we look for such a gap, to be able to catch the trend reversal early.

I am under the opinion that for a bar to be categorized as an Exhaustion Gap Bar, a gap should first of all precede the bar to decide on its status - whether it is exhaustion gap bar or not.

Secondly, there should be high volumes on this bar.

And thirdly, after formation of the high-volume bar, if the gap is getting filled up backwards (or as Raghav says - if the gap is getting closed), it's a trend reversal.

Is my understanding correct? Or, is this a different concept altogether that you are discussing?

 

[DanPickUp]

Excuse me if I am naive..

Exhaustion gap is found at the end of the trend and we look for such a gap, to be able to catch the trend reversal early.

I am under the opinion that for a bar to be categorized as an Exhaustion Gap Bar, a gap should first of all precede the bar to decide on its status - whether it is exhaustion gap bar or not.

Secondly, there should be high volumes on this bar.

And thirdly, after formation of the high-volume bar, if the gap is getting filled up backwards (or as Raghav says - if the gap is getting closed), it's a trend reversal.

Is my understanding correct? Or, is this a different concept altogether that you are discussing?

My friend

Your question again points in the direction : I KNOW WHAT IS COMING NEXT IN THE MARKET !

Some times it is like that and some times it is just not like that.

DanPickUp

 

[Raghavacc]

Excuse me if I am naive..

Exhaustion gap is found at the end of the trend and we look for such a gap, to be able to catch the trend reversal early.

I am under the opinion that for a bar to be categorized as an Exhaustion Gap Bar, a gap should first of all precede the bar to decide on its status - whether it is exhaustion gap bar or not.

Secondly, there should be high volumes on this bar.

And thirdly, after formation of the high-volume bar, if the gap is getting filled up backwards (or as Raghav says - if the gap is getting closed), it's a trend reversal.

Is my understanding correct? Or, is this a different concept altogether that you are discussing?

Hello Murthy,

Indeed, your doubt is natural.Let me clarify your doubt.

The concept you have elaborated is a classical theory whereas what I am explaining is the technique based on my experience, observation and years of experimentation.

This technique advocates that the rangebound market has very short bull and bear waves respectively meaning neither bulls nor the bears are able to maintain their power for long enough to dominate. at particular place on the upper side bears are strong and at a particular point on the lower side bulls are strong.

Now say Point "A" is upper side and point "B" is lower side. Say now price is moving towards point "A".now what happens? Bulls try to pierce that point "A" by putting good volume .The price pierces "A".However since bears are strong at this point they also put huge sell orders and and the candle closes far below its high.i.e:a WRB with long upper tail/wick.This means that bulls couldn't dominate and close the price above "Point "A" as bears are strong at this area.Now we have all 3.A WRB, long wick, and extreme volume.Thats where we decide bulls are exhausted.

Once bears notice that bulls have become weak they start putting selling orders and price collapses.Then it reaches lower side at Point "B".Now its bulls....like this this cycle continues.....


Am I clear?

 

[Raghavacc]

Raghav ji, the marked bar in the chart qualifies for an exhaustion bar ? If yes, the entry and SL are correct ? Pls clarify.

Thanks

You have got it and you can do it....:clapping:

Absolutely pentastic.

Note:May be due to data feed there is a diff in our respective charts.1st exhaustion marked by me as no 1 is missing in your chart.
As per my chart No1 is a losing trade.You are lucky to have only 2 trades that is too winning trades.!!!

Just count the pip in just 2 trades!!.Don't you think your Banker will be happy???

 

[murthyavr]

Hello Murthy,

....like this this cycle continues.....

Thanks Raghav, for the detailed explanation. Yes, I understood your point now.

:clapping:

 

[murthyavr]

Look at the coincidence! ST was also talking about the same thing, at the same time!!

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-21.html#post561531

So, it's true that great people think alike!

 

[Raghavacc]

Hi Raghav,

Thank you so much for your posts. For people like me who are not naturally talented as a traders your posts are a great learning. I have read alot of books but learnt more from your posts. I have started paper trading and took a trade today and wanted to know if i followed your system correctly. The only thing i want is to be able to learn and follow the system religiously because thats the only thing that will help me in the long run.

Took following trade in Nifty. Short at 5396 with SL and 5403 [62.8% retracement]

Regards
Nitin

The chart from Nitin's fib perspective

Hello Nitin,

You have got the concept right.Just need to fine tune it.

Lets see what happenned.In your chart I have marked candle as 1,2,3,4 for 17th June. Price from 5419 slides to 5403 -16 points downmove. Then a small hammer and it moves up to 5410 and then comes back breaks hammer and slides heavily.In this case the price movement from 5403 - 5409 you have considered as retracement. From macro perspective its a perfect assessment. However as far I am concerned I use fib tool only after we have a movement of atleast 30-35 points in a single direction.

Ok.Now you will ask me how you have traded this early morning set up? No1: I have told earlier that early morning swing high/low broken gives huge trades. From intraday perspective I use this technique for this set up. I will elaborate more on this in my PDF.

No.2 lets go to my fib perspective.

The chart from Raghav's fib perspective

on 16th June we had a significant event at 5455.I.e:2 exhaustion where ksgsm traded.from that point price slides to 5393 .around 60 points move. by EOD it retraces a bit. Now we draw line from 5455 to 5393 and watch out for price action.on 17th the price opens at 38% retracement but cannot sustain. it slides to 5403. then a small retracement and again it cannot sustain.that's the sign that price is very weak.I go short big time since I have "confluence" of lot of factors confirming the weak price.However unluckily I could not take any of these trades last week due to heavy commitments.The above shows only my style of trade.

See the maths,science ,logic everything is involved in the above setup.You need to work relentlessness to find it.Then it will be your second nature.

Remember I do all of this just with "Tradetiger".I have discarded Ami ,datafeed etc long back.Its not that I do not like AMI.It is a wonderfull tool.
My point is to be successful you need not necessarily have fancy softwares and codes. What all you need is "Your own cool,calm,relaxed and balanced mind" which can get you whatever you want.

 

[Raghavacc]

Look at the coincidence! ST was also talking about the same thing, at the same time!!

http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-21.html#post561531

So, it's true that great people think alike!

Hello Murthy,

ST bro is some one who is like an elephant.I am just an ant.....He is a master and I am just a humble LKG student ....

 

[krish4166]

Remember I do all of this just with "Tradetiger".I have discarded Ami ,datafeed etc long back.Its not that I do not like AMI.It is a wonderfull tool.
My point is to be successful you need not necessarily have fancy softwares and codes. What all you need is "Your own cool,calm,relaxed and balanced mind" which can get you whatever you want.
__________________
Regards
Raghav

Do what you know.Know what you do.
raghav,
:thumb: