Price Action Trading Method.

[TraderDude]

Thanks traderdude for your work.

can we use this price action setup for Nifty? any inputs from you...
i see very little posing on equity from you..

Thank you. I

Sure you can, drop by the "Where is nifty going?" thread in the Derivatives section.I track the nifty on a weekly basis.

I m thinking of starting a daily Nifty thread, where i can show you how to trade nifty using daily charts. But note that i do not trade nifty, but i use for correlation with my stock trading.

Having said that , i don't like to show after the fact setups. None the less it will be good for understanding and studying the markets using PA and S/R.


I do trade stock, make a few profits every now and then , i don't get much time to trade equities.

Let me see, i will probably start from coming Monday.

 

[TraderDude]

Here is one for you Krishna. Small trade taken on May 17th.

I get sometime mostly on thursdays/fridays.

 

[TraderDude]

Aud/chf pair has also moved well this week.

 

[adityasaraf007]

Sure you can, drop by the "Where is nifty going?" thread in the Derivatives section.I track the nifty on a weekly basis.

I m thinking of starting a daily Nifty thread, where i can show you how to trade nifty using daily charts. But note that i do not trade nifty, but i use for correlation with my stock trading.

Having said that , i don't like to show after the fact setups. None the less it will be good for understanding and studying the markets using PA and S/R.


I do trade stock, make a few profits every now and then , i don't get much time to trade equities.

Let me see, i will probably start from coming Monday.

TD, we have so much in common..... We are almost like a photocopy of each other.....

 

[EagleOne]

TD, we have so much in common..... We are almost like a photocopy of each other.....

Wah bhai wah! Aankhon mein khushi ke aansoo aa gaye 12 saak pehale kumbh ke Mele mein bichadi twin PHOTOCOPIES ka TJ pe 'bhaavbhina' milan dekh ke... sachchi mein! :lol:

But Adi sirji, if don't mind, 1 question ask karoon?

Who's the orginal?

(Not Me?! Now that would be daydreaming, right? )




Jokes apart. The Final word. Going by his trade setups, TD is an excellent trader. What I love about his trading is, his position sizing. Brilliant.

 

[saivenkat]

@ Eagle..Humko aisa vysa position sizing karna nahi aathi TD ke thrah.. patience nahi hai hamare pass.. enter in bulk jise 500 bnf..(limited my greed to 500 bnf only).. and if you get 25 points .. bas.. trade is finsihed for the day.... (oflate i have started trading only bnf..)..

 

[EagleOne]

@ Eagle..Humko aisa vysa position sizing karna nahi aathi TD ke thrah.. patience nahi hai hamare pass.. enter in bulk jise 500 bnf..(limited my greed to 500 bnf only).. and if you get 25 points .. bas.. trade is finsihed for the day.... (oflate i have started trading only bnf..)..

Another new lover of BNF? What can I say...deja vu?! :rofl:
CLICK TO READ ME, PLEASE

...just an addition. Careful with that position sizing, my special friend. The day BNF ki gaddi ka reverse gear laga na, toh '25 points, and trade is finished for the day' will turn into '-250 points, and ledger is finished for the month'.

:rofl:

 

[saivenkat]

@ E1..
Yes.. i agree.. so far.. so good... When taking lower TF's of 5 or 1 minute my trades are more or less like Scalping.. with tight SL.. (I just enter the trade when the momentum bar is about to give the breakout..)

And when doing scalping it takes me into lot of stress.. i am trying to eliminate this.. and even thinking of switching to higher TF's like of 30 minute or so.. what's your viewpoint on this Eagle bro?

 

[EagleOne]

@ E1..
Yes.. i agree.. so far.. so good... When taking lower TF's of 5 or 1 minute my trades are more or less like Scalping.. with tight SL.. (I just enter the trade when the momentum bar is about to give the breakout..)

And when doing scalping it takes me into lot of stress.. i am trying to eliminate this.. and even thinking of switching to higher TF's like of 30 minute or so.. what's your viewpoint on this Eagle bro?

Sai, 5min and 1 min are killer TFs, man! You may make tons of money, but at what price? Do you know what happens in your endodermal, adrernal and thyroid glands, when you play for 25 points with 500 BNF, that runs like a bullet train? If you knew, you would stop trading altogether, my dear Sai Baba, believe me!

The day you decided to come to senses that market is not a place to make fast-buck or to take revenge for past losses, you would have your own clear viewpoint about the TF to trade - not a borrowed viewpoint from E1.

 

[TraderDude]

I see many people talking about TF.

After months of my research & practice , I can tell you one thing, there is nothing wrong in trading smaller TF, but YOU MUST KNOW WHERE YOUR ARE ON THE DAILY/WEEKLY.

This is exactly the reason , i switched to intraday trading on daily's. Trust me when i tell you this..it has saved me from taking out my SL on plenty occasions.

Also there are many advantages of trading the daily TF.

1. Gives you time for intraday analysis after open reducing the stress.
2. You know where the real Support/Resistance are to put you stops.

If you want the accuracy of daily TF for intraday trading , this is the way to go about it.

@ SaiVenkat, dear you are heading in to trouble trading positions size not in line with your account size. Remember trading is a marathon , not sprint.

One final word - Our objective should be on the how we execute our trades , not the result of the executions.

:thumb: