Trading Strategies Using Technical Analysis

[SwingKing]

I am a lousy trader... Always late to the party after big players have already made money, or sometimes take contrarian calls and lose...

But I am learning a lot from you, Savant sir, SM bhai and other awesome traders...

Thank you all...

Gauharjk,

Nobody is a lousy trader. The good thing is you recognize that you have some problem in trading. This is something many are not able to realize. Hence congratulate yourself on that.

Moving forward, make notes on what comforts you in the market. That is, what are your beliefs about the market, what methodologies are you comfortable with and finally which instruments you will be comfortable trading. Start working on some plan and then stick to it. Trading has a lot to do with minimizing mistakes. Hence keep track of your mistakes and make sure you don't repeat them.

Tc

 

[saivenkat]

@ Apurv dear,

I am not in no way connected to I. T field. I Wish i could have entered in it while doing my studies, but then it vanished unnoticed as a dream.

Friends,

I could observe today that the heavy weights in bank stocks are showing some sort of sluggishness, and they have lost nearly a percent on an Average.

Any thing Cooking?

 

[SwingKing]

Stop Losses Update for all trades. All levels on Spot.

If anyone here has trades similar to mine, then follow these levels.

Reliance Capital - Close below 820
Ambuja - Close below 142.5
Aban - Close below 840
Godrej Ind - Close below 228.5
BGR - Close below 797
Tata Chem - Close below 409
Tata Communication - Close below 326

PFC was exited today at 372. Was updated during market hours.

Tc

 

[SwingKing]

Exited Godrej 227.1
Ambuja 141.7
BGR 796.5

Tc

 

[SwingKing]

Final positions which are now open are ABAN, Rel Cap, Tata Chem and Tata Comm.

Tc

            Script               Comment      Traded Price   Exit Price
            Aban                   Buy           872.1           0
          RELMEDIA                 Buy           215.1         279.6
       Reliance Capital            Buy           827.9           0
       Ambuja Cements              Buy           141.4         141.7
      BGR Energy Systems           Buy           813.7         796.5
            Nifty                  Buy          6,214.50       6205
          Tata Chem                Buy            419            0
           PFC (EQ)                Buy            352           372
            Godrej                 Buy            233           227
          Tata Comm                Buy            336            0

 

[SwingKing]

A Word on Markets

For the next couple of sessions, especially tomorrow, try and keep the media channels out of your trades. There could be gyrations in the European and American markets today and hence tomorrow things will be reported in a way which will definitely sound as the end of the world.

Broader markets including US and FTSE markets are holding up well as of today. Hence, on global front there is nothing serious to worry about. There is a reason why markets have rallied from 4800 to 6100 and that reason cannot be over in a day. Forget about 2008. That was an once in 2-3 decade phenomenon. Be confident about your trades and always have a stop price in your mind.

Todays movement was only a form of consolidation. It should not be associated with "weak session", "Sell off", "Broad based weakness", "Pending Correction" and many more as the channels are reporting.

Tc

 

[alroyraj]

Since morning the moves seemed to be moving up tentatively testing resistances after moving up smartly and there was no indication that the buying support would momentarily disappear. Naturally stop losses would have been hit. Most of the down move was retraced though. Some scripts lost much more that others. Few seemed to have recovered and closed at their supports.
What to sell and what to hold would have been tricky.
As it was people were mindful of the 2 year anniversary of the crash so the effect was exaggerated due to bandwagon effect.
Something has to be said about tightening stop losses as and when necessary.Of course the question is when.

 

[Apurv7164]

A Word on Markets

For the next couple of sessions, especially tomorrow, try and keep the media channels out of your trades. There could be gyrations in the European and American markets today and hence tomorrow things will be reported in a way which will definitely sound as the end of the world.

Broader markets including US and FTSE markets are holding up well as of today. Hence, on global front there is nothing serious to worry about. There is a reason why markets have rallied from 4800 to 6100 and that reason cannot be over in a day. Forget about 2008. That was an once in 2-3 decade phenomenon. Be confident about your trades and always have a stop price in your mind.

Todays movement was only a form of consolidation. It should not be associated with "weak session", "Sell off", "Broad based weakness", "Pending Correction" and many more as the channels are reporting.

Tc

Raunakji,

Your encouraging words were very much required at this time... many people might have got shock with today's sudden drop... ur words wud surely help them in not getting fooled by deceptive move.... kudos to you...

Bests,
Apurv

 

[SwingKing]

Since morning the moves seemed to be moving up tentatively testing resistances after moving up smartly and there was no indication that the buying support would momentarily disappear. Naturally stop losses would have been hit. Most of the down move was retraced though. Some scripts lost much more that others. Few seemed to have recovered and closed at their supports.
What to sell and what to hold would have been tricky.
As it was people were mindful of the 2 year anniversary of the crash so the effect was exaggerated due to bandwagon effect.
Something has to be said about tightening stop losses as and when necessary.Of course the question is when.

Alroyraj,

In trading, stop losses have to be always tight. It is not the question of when, but it is the question of how to place it. Investment is a different ball game altogether. But trading requires quick entry and quick exit. Your profits get limited to an extent (most of the times it won't) in keeping tight stops. But throughout your trading career you will never face horrendous losses. That to me is more important than profits.

Tc

 

[SwingKing]

Raunakji,

Your encouraging words were very much required at this time... many people might have got shock with today's sudden drop... ur words wud surely help them in not getting fooled by deceptive move.... kudos to you...

Bests,
Apurv

Markets don't turn upside down in one day Apurv. So there is no need to panic. If and when that has to happen, we will get plenty of time to exit everything. Why bother till then? Isn't it?

If profits are embraced with zeal, then why should one dislike losses.

Tc