Trading Strategies Using Technical Analysis

[SwingKing]

It would be much more prudent if you could give definite targets after 1 week, 2 weeks and let us see if you are right or wrong based on your analysis.

Trader Man,

I am not here to prove my analysis to anyone dear.

If someone is not convinced with my trades and my knowledge, then I'd ask him to show me the correct way. I'll be glad to learn. And I mean no disrespect by saying this. I am always open to someone correcting my analysis and making me a better trader. There's nothing wrong in that.

I have never considered myself an expert. I am just another student of this market.

Tc

 

[Prashant Patel]

Raunakbhai consider me as your student in your school.

 

[trader_man]

Trader Man,

I am not here to prove my analysis to anyone dear.

If someone is not convinced with my trades and my knowledge, then I'd ask him to show me the correct way. I'll be glad to learn. And I mean no disrespect by saying this. I am always open to someone correcting my analysis and making me a better trader. There's nothing wrong in that.

I have never considered myself an expert. I am just another student of this market.

Tc

Raunak ji, first of all I would like to congratulate you for the way you have answered my question. You didn't get flustered and managed to keep your cool.......just like a pro.

As for definite targets, what I am more wanting is that you give us a general trend for the next 1 week or 2 weeks....but it should be one way not both ways. So, you might say that markets will go down in the next 1 week or markets will start going up after 2 weeks. But, there should be no sitting on the fence.

Anyway that is my two cents. I won't waste any more of your time with this. I am sure you have more important things to look at. It is just a thought that came to my mind when I read your earlier post.

 

[SwingKing]

Raunak ji, first of all I would like to congratulate you for the way you have answered my question. You didn't get flustered and managed to keep your cool.......just like a pro.

As for definite targets, what I am more wanting is that you give us a general trend for the next 1 week or 2 weeks....but it should be one way not both ways. So, you might say that markets will go down in the next 1 week or markets will start going up after 2 weeks. But, there should be no sitting on the fence.

Anyway that is my two cents. I won't waste any more of your time with this. I am sure you have more important things to look at. It is just a thought that came to my mind when I read your earlier post.

Trader Man,

I don't give targets. Neither do I predict.

When Nifty was at 5300-5400 band, I had written (without) giving targets that I am buying. Nifty went to 6200 - 6300. When market eventually reached that stage, I had written that I wont be surprised to see markets at 5700 - 5800. And today markets are there. This is not target specification. I, or for that matter anyone who gives targets is setting an opinion in someone's mind. And opinions when turn into belief can be catastrophic. I specialize in reading the tape and not in targets specification and predictions.

Similarly, last week I had written that I am a buyer in Index and would continue to do so till market proves me wrong. Again, this is not a target, but it is just my trading style of reading the Tape movement. If I am proven wrong, I would reverse immediately. Hence essentially I am always following the market and not predicting it.

Tc

 

[nimish_rulz]

Anyone thinking about going Long LIC Housing please have a look at this. I maybe be wrong but this a recent example and I was thinking about bottom fishing at that time with Aban offshore. I am making a small comparison between the two companies although not related but similar in price action. The sell was triggered way before the news came out a few days back the news was building up.

I sense we will close around 700 levels on LIC and that would be the time to
accumulate.
Following are the charts analyse yourself:
ABAN

Uploaded with ImageShack.us

 

[DanPickUp]

Raunak ji, first of all I would like to congratulate you for the way you have answered my question. You didn't get flustered and managed to keep your cool.......just like a pro.

As for definite targets, what I am more wanting is that you give us a general trend for the next 1 week or 2 weeks....but it should be one way not both ways. So, you might say that markets will go down in the next 1 week or markets will start going up after 2 weeks. But, there should be no sitting on the fence.

Anyway that is my two cents. I won't waste any more of your time with this. I am sure you have more important things to look at. It is just a thought that came to my mind when I read your earlier post.

My friend

Your market is moving up and down and up and down and that is called a sideway market. You as a trader_man need to have three types of strategies in your trading arsenal. One for up markets, one for down market and one for such markets you have now.

The trend you have to trade now is a sideway move and not what may will happen in one or two weeks. That is not the question and it seems to me, that you not can handle such volatile markets and not have any strategy to do so. For what care what is in two weeks time when I need or want to make money today ?

Take care

DanPickUp

 

[DanPickUp]

Hi

Two cents from outside : As there are a lot of questions about market direction, many of you may are interested to learn a little bit more about price action. Many of you scream for Raunak to tell the direction as I see Nifty jumping up and down with nice high volatility. Beautiful for side way strategies.

So, what do you think about learning a little bit from an other Pro and use it beside Raunaks market outlooks ? You may like it. Paul Tudor Jones has traded in other markets and the idea remains the same in your home market. Use what you will/can read in the article and it may helps for some of you to become a little bit more nonindependent from others outlook. It should give new ideas, which you may can adapt in your personal style of market outlooks.

Here it goes :

The following exchange is a brief and rather illuminating excerpt from Jack Schwager's interview with Paul Tudor Jones from the 1990 national best-seller Market Wizards ( Interviews with top traders .)

Jack Schwager: My impression is that you often implement positions near market turns. Sometimes your precision has been uncanny. What is it about your decision-making process that allows you to get in so close to the turns?

Paul Tudor Jones: I have very strong view of the long-run direction of all markets. I also have a very short-term horizon for pain. As a result, frequently, I may try repeated trades from the long side over a period of weeks in a market which continues to move lower.

Jack Schwager: Is it a matter of doing a series of probes until you finally hit it?

Paul Tudor Jones: Exactly- I consider myself a premier market opportunist. That means I develop an idea on the market and pursue it from a very-low-risk standpoint until I have repeatedly been proven wrong, or until I change my viewpoint.

Jack Schwager: In other words, it makes a better story to say, “Paul Tudor Jones buys the T-bond market 2 ticks from the low,” rather than “On his fifth try, Paul Jones buys the T-bond market 2 ticks from its low.”

Paul Tudor Jones: I think that is certainly part of it. The other part is that I have always been a swing trader, meaning that I believe the very best money is to be made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all the money by catching the trends in the middle. Well, for twelve years, I have often been missing the meat in the middle, but I have caught a lot of bottoms and tops.

If you are a trend follower trying to catch the profits in the middle of a move, you have to use very wide stops. I'm not comfortable doing that. Also, markets trend only about 15 percent of the time; the rest of the time they move sideways.

Here the whole article and you have to read the whole page :

http://www.marketoracle.co.uk/Article3354.html

Hope it helps in the process of learning.

Take care

DanPickUp

 

[gangadharan]

Hi

Two cents from outside : As there are a lot of questions about market direction, many of you may are interested to learn a little bit more about price action. Many of you scream for Raunak to tell the direction as I see Nifty jumping up and down with nice high volatility. Beautiful for side way strategies.

So, what do you think about learning a little bit from an other Pro and use it beside Raunaks market outlooks ? You may like it. Paul Tudor Jones has traded in other markets and the idea remains the same in your home market. Use what you will/can read in the article and it may helps for some of you to become a little bit more nonindependent from others outlook. It should give new ideas, which you may can adapt in your personal style of market outlooks.

Here it goes :

The following exchange is a brief and rather illuminating excerpt from Jack Schwager's interview with Paul Tudor Jones from the 1990 national best-seller Market Wizards ( Interviews with top traders .)

Jack Schwager: My impression is that you often implement positions near market turns. Sometimes your precision has been uncanny. What is it about your decision-making process that allows you to get in so close to the turns?

Paul Tudor Jones: I have very strong view of the long-run direction of all markets. I also have a very short-term horizon for pain. As a result, frequently, I may try repeated trades from the long side over a period of weeks in a market which continues to move lower.

Jack Schwager: Is it a matter of doing a series of probes until you finally hit it?

Paul Tudor Jones: Exactly- I consider myself a premier market opportunist. That means I develop an idea on the market and pursue it from a very-low-risk standpoint until I have repeatedly been proven wrong, or until I change my viewpoint.

Jack Schwager: In other words, it makes a better story to say, Paul Tudor Jones buys the T-bond market 2 ticks from the low, rather than On his fifth try, Paul Jones buys the T-bond market 2 ticks from its low.

Paul Tudor Jones: I think that is certainly part of it. The other part is that I have always been a swing trader, meaning that I believe the very best money is to be made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all the money by catching the trends in the middle. Well, for twelve years, I have often been missing the meat in the middle, but I have caught a lot of bottoms and tops.

If you are a trend follower trying to catch the profits in the middle of a move, you have to use very wide stops. I'm not comfortable doing that. Also, markets trend only about 15 percent of the time; the rest of the time they move sideways.

Here the whole article and you have to read the whole page :

http://www.marketoracle.co.uk/Article3354.html

Hope it helps in the process of learning.

Take care

DanPickUp

Hi, Dan,

A Great work,

Here I have seen every one is hot because of market is getting corrected. The topic you have pointed out made me understand the way of Raunak Sir's trading.... It is actually superb..

I now remember and understand how he caught some scripts like RELMEDIA and stayed with the script till the uttermost upside.

Hats of to you and off course to Raunak Sir also.

Thank you,
With Regards,
Gangadharan.:thumb:

 

[Actor]

Dear Raunak Sir,

I am a new learner of TA & just started learning the charts. I have seen BNifty daily chart creating head & shoulder pattern & requesting your views. I am watching this threads from last 2 weeks & i have find very useful information from all the members which will definitely help me to understand the TA better with the experts views.

I have seen people are charging huge amounts to just give blind tips without knowing anything but this thread is really helpful for the beginners & experience traders to learn from the real experts.

I would like to thank you everyone for this wonderful thread.

Best Regards,
Actor

 

[jagankris]

My Dear Dan,

You are little mistaken here again. It is not 56500 rupees. 58-2... commission and alll........ is =56 you can say.. Ok now nifty being a LOT of 50 you have to calculate it.. as 56*50......2800 per lot now 2800 * 5...... 5 lots.. ok
It is just about 14000 rupees.

And my dear..... it is not possible every day. It is only possible in the days you have a momentum on market.

With Regards,
Gangadharan.:thumb:

It is possible just look out for where the momentum is
200+ futures scripts.
If not commodity is there.