Trading Strategies Using Technical Analysis

[nimish_rulz]

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.

Thanks for that...the problem is that there is no conviction in the market at all. Day after day we keep hearing bad news...the reason I asked should I exit is because we have budget end of feb and I dont think the market would go higher until they have heard what would the budget be like. I would love to sell slightly higher than at current levels but if the market falls tomorrow and who knows how much it can fall by...Brazil fell today by 4.5% it is considered second strongest emerging market after China. India and Brazil are not much different hence my cause of concern. I am looking at more fundamental aspects technically my model said buy on 28th Jan when we had small reversal. Hence the confusion. I want healthy discussion not a discrete answer. The confusion is causing a pain. The other option would be to exit tomorrow and re enter on Monday after hearing the final verdict on Friday about US markets.

 

[SwingKing]

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 agree with what AW10 has said. If your system told you when to enter, you must trust it for when to exit. By taking my views or any other user's view, you are cluttering your mind with too many things.

Things are going to get tough today. We have to see where we go from here. For your future reference I'd suggest you to practice the probe test buying technique.

As far as your current positions are concerned, you might well be selling off in a typical "Sell off" situation. You might get a bounce back.

Tc.

 

[SwingKing]

Thanks for that...the problem is that there is no conviction in the market at all. Day after day we keep hearing bad news...the reason I asked should I exit is because we have budget end of feb and I dont think the market would go higher until they have heard what would the budget be like. I would love to sell slightly higher than at current levels but if the market falls tomorrow and who knows how much it can fall by...Brazil fell today by 4.5% it is considered second strongest emerging market after China. India and Brazil are not much different hence my cause of concern. I am looking at more fundamental aspects technically my model said buy on 28th Jan when we had small reversal. Hence the confusion. I want healthy discussion not a discrete answer. The confusion is causing a pain. The other option would be to exit tomorrow and re enter on Monday after hearing the final verdict on Friday about US markets.

If your stop's have been triggered, it's always better to exit. Else, I will stand by the system (assuming that your system is back tested with good results).

Tc.

 

[kindman]

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.

trading is not a game... its a business...
Before entering any business You should have good knowledge about it and how to manage it.. bez in trading lots of risk involved...
good luck....

 

[SwingKing]

Forex Trade

For those who trade in forex,

Short the NZDUSD currently at 0.68977. SL 0.69719 (MAX Loss $75)

This is a weekly based trade. Hence stop loss is this high.

Short GBPUSD currently at 1.56387. SL 1.58378 (Max Loss $200)

Lot Size : (0.1) 10,000

Tc.

 

[SwingKing]

Buy CNXIT Future with a stop loss of 5430.

Tc.

 

[SwingKing]

Stocks for Investments Only. Keep away from low volume stocks. The average given here are of 15 week Volume. Here's a complete list of stocks for investment purpose earlier posted on this thread. Add the above list to this list.

Tc

Download File

 

[MVRAJASHEKAR]

Re: "Trading Strategies Using Technical Analysis".

hi,

how to download the AFL. I am new to this.

 

[SwingKing]

Re: "Trading Strategies Using Technical Analysis".

hi,

how to download the AFL. I am new to this.

You have to copy and paste the afl content in amibroker. Store a text file as (.afl) format in system folder or indicator folder.

 

[SwingKing]

Accumulate Dabur for long term portfolio.

Will update the stock in the excel file at the end of the week.

Tc.