Re: Time to Stick my Neck Out ,Nifty 7300
Asish sir,
aapke teachings sir-aankhon par...
it's just that i wanted a reason to go long at 4100 spot....
when i saw europe in green & double bottom at 4090 spot, i thought let me give a try at 4100 spot with SL below 4090 spot...
I always remember & first follow charts (as u have nailed into my head before too, & i am highly obliged to u for this)... i just like to confirm my position, as i cant afford to just have 10-15 pts trading movement
Each individuals Trading style is different,as by now we all know why it is different,i respect your aspiration to earn more than 15 points.For that taking confirmation from other world indices needs a background of Maths & Statistics to find out the 'Correlation' & other factors Nifty vis-a-vis those indices,to get a meaning full edge in your favour.
There is a whole lot of Science involved in extracting information from Data,(which many Quants toil yrs to get that edge).
If you increase your Time frame to say 30 min or 60 min (as Saint does),then the bar's range increases hence your Reward increases (also the Risk).
Simple effective way of trading is understanding the Waves,for which a RT Data feed & a software like Ami or Metastock will do.
After graduating from this Level you will need Higher Level software Like Neo-Ticker etc & obviously Higher level Guide ,(those level Guide/Teachers are also available in this Forum).
Imp. point is to Earn & EARN CONSISTENTLY EACH & EVERY DAY.