Trading Strategies Using Technical Analysis
- Thread starter SwingKing
- Start date
- Tags trading strategies
rdeb, though I have provided some setups on Intraday, I personally don't use intraday that often in stock market's. In forex though, I am mostly a day trader and hence I avoid carrying positions forward.
I'll advise you to pick one intra day setup and master it. While doing so you'll automatically realise the screening procedure. Screening procedure is not entirely mechanical.
Tc
I'll advise you to pick one intra day setup and master it. While doing so you'll automatically realise the screening procedure. Screening procedure is not entirely mechanical.
Tc
Nimish,
Though these are tough times, I still believe we are in a long term bull market. However, I will change my mind once 4540 and more importantly 3900 get's taken off. My long term system has indicated closing off long positions on Nifty but has not indicated short positions.
It may seem surprising but I am still accumulating stocks in small quantities for my long term portfolio. Rather than believing news going around, I am trusting the level's reflected in charts. So, I am comfortable till 4540 and 3900 holds.
At present, I don't think we need a system to tell us what's gonna happen in near future. Thing's are getting ugly on global front (just look at currencies, commodities and stock market's) and I think same is going to happen to us. At this stage I can't take a call on very short term movements.
Tc
Though these are tough times, I still believe we are in a long term bull market. However, I will change my mind once 4540 and more importantly 3900 get's taken off. My long term system has indicated closing off long positions on Nifty but has not indicated short positions.
It may seem surprising but I am still accumulating stocks in small quantities for my long term portfolio. Rather than believing news going around, I am trusting the level's reflected in charts. So, I am comfortable till 4540 and 3900 holds.
At present, I don't think we need a system to tell us what's gonna happen in near future. Thing's are getting ugly on global front (just look at currencies, commodities and stock market's) and I think same is going to happen to us. At this stage I can't take a call on very short term movements.
Tc
The reason I asked is because I am sitting with a lot of futures contract, and I believe it would be a good time to sell all the contracts as I am long in it. Right now losing 2lac...if things go bad it can get nasty. I can take this hit. Hence I asked. Or do you think it is worth holding it for a another 2 weeks.
Nimish, I hope you are not looking for people in TJ to support your thinking. As a human being, we are tuned for this...i.e.to see the people around us with similar thoughts like ours. Unfortunately, that is demaging trait in trading.
If you have already setup your max pain limit of loss then take action when that limit is hit. You might be able to take loss of 5Lac that doesn't mean u shd wait till it reaches that level. After big loss, recovery would be difficult.
If you are not able to take the pain, then my suggestion will be to atleast cut your position partially, rather then fully. Try to see historical pattern in chart, and observe
- how much steep a fall could be
- what happens after that
- how much worse can it get in short term etc.
- what signals appear that indicate bounce is fizzling out and downtrend is again building up.
Based on that draw your OWN strategy to play in the market.
In my observations, all global markets have fallen 5 to 10% in last 5-6 days with no real bounce. Selling after selloff is typical trait of novice /immatuare traders. Even if market has to goto 4k level, it will not happen in one wave.. there will be bounces in between.
After such steep fall, bounce is inevitable but can't predict whether this will happen tomorrow or in next 4 days. Hence DON't be contrarian and build long position until u see some signs of bears disappearing. Bulls will keep showing up but they get beaten down again.
There could be bounce which might help you in cutting your loss. If my post make u think then do keep in mind that there are same 50% chance that the pain might get worse before it can get better.
Happy Trading.
If you have already setup your max pain limit of loss then take action when that limit is hit. You might be able to take loss of 5Lac that doesn't mean u shd wait till it reaches that level. After big loss, recovery would be difficult.
If you are not able to take the pain, then my suggestion will be to atleast cut your position partially, rather then fully. Try to see historical pattern in chart, and observe
- how much steep a fall could be
- what happens after that
- how much worse can it get in short term etc.
- what signals appear that indicate bounce is fizzling out and downtrend is again building up.
Based on that draw your OWN strategy to play in the market.
In my observations, all global markets have fallen 5 to 10% in last 5-6 days with no real bounce. Selling after selloff is typical trait of novice /immatuare traders. Even if market has to goto 4k level, it will not happen in one wave.. there will be bounces in between.
After such steep fall, bounce is inevitable but can't predict whether this will happen tomorrow or in next 4 days. Hence DON't be contrarian and build long position until u see some signs of bears disappearing. Bulls will keep showing up but they get beaten down again.
There could be bounce which might help you in cutting your loss. If my post make u think then do keep in mind that there are same 50% chance that the pain might get worse before it can get better.
Happy Trading.
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