Namaste - My Learning of Trading in Nifty

[bikashkumar11]

A Scalper should not try and average his trades, the moment he see that trade is against his prediction, then he should come out.. no second thoughts..

Personally,i feel that scalping is not good, dangerous.. and therefore i would define Scalping as," Too many trades, whisking away our account balance in a stealthy fashion, and helping the broker to become rich"


Saivenkat

Hello Sai venkat Bhai,

If the market is volatile or not strongly trending or in the trading ranges are very high. Does scalping improve the chances.

 

[crown]

A Scalper should not try and average his trades, the moment he see that trade is against his prediction, then he should come out.. no second thoughts..

Personally,i feel that scalping is not good, dangerous.. and therefore i would define Scalping as," Too many trades, whisking away our account balance in a stealthy fashion, and helping the broker to become rich"


Saivenkat

Thanks Saivenkat Bhai

Scalping can only be profitable, if you are already rich enough to enjoy loosing your money.

 

[crown]

Hello Sai venkat Bhai,

If the market is volatile or not strongly trending or in the trading ranges are very high. Does scalping improve the chances.

Bikash bhai

All I can suggest and request, is to just keep away from Scalping. It is for those, who are very very well experienced traders having suitable open positions in the ongoing trend and scalp just to keep themselves busy.

If you feel comfortable, participate in my hunt for finding the resistance levels of this market. And, believe me, if we can do it, all previous losses will be covered.

my question is what is resistance?

 

[crown]

Ah...

I observed one point in respect to the resistance.

Resistance is the point where retailers were trapped.

I think, I have to attempt on the concept of Smart Money, once again, to understand and get the bigger picture. And, I also have to have some knowledge of mass psychology.

 

[crown]

Oops forget to mention my trades

Exited from Jindal Steel yesterday @ 708.70 (buy at 713)

today exited from LIC Housing @ 1280

Entered Long in Cairn India @ 333.50

 

[crown]

Entered Long in Aegis Logistic @ 297
Entered Long in Central Bank of India @ 197

exit long from Central Bank of India @ 206

 

[bikashkumar11]

Please look at the DELTA Corp its zooming

 

[crown]

As per the current put call observation
5900 has now become a good resistance
chances of Nifty closing below 5800 are very strong at this moment
5700 appearing good support though

 

[crown]

As per the current put call observation
5900 has now become a good resistance
chances of Nifty closing below 5800 are very strong at this moment
5700 appearing good support though

sorry, inadvertently I analysed the put call data for October expiry

In the current expiry
5800 is still a very strong support
and Nifty is likely to maintain its pace.
There are some initial signals that Nifty can touch/cross 6000 within this month itself.

 

[crown]

Entered long in TFCI (Tourism Finance) at 34.60
Entered Long in Vakarangee Software at 212
Entered long in Mphasis at 647
Entered long in Jindal steel and power at 713.

The decision of entering long in mphasis and jindal steel was taken at the moment on intraday charts.

And, I am also trying to avoid looking and analysing the Nifty and world markets in respect of deciding a trade in individual script. While, they are of importance but even then there are scripts which move up during down market and there are scripts which move down during up market.
analyse only what I trade

Exited long from Tourism Finance @ 37.20