Trading Strategies Using Technical Analysis
- Thread starter SwingKing
- Start date
- Tags trading strategies
Re: Swing Trading Nifty and Bank Nifty
Script: Nifty
Buy Signal Generated: 5947.05 on 20th December 2010
BB Upper Band Value at Buy Signal: 5946.07 on 20th December 2010
Current SL: 5999.4
Current Gain: 154.8
--------------------------------------------------------------------------------------------------------------------------------------------------
Script: BankNifty
Buy Signal Generated: None
Current Buy Above: 11749.1
Script: Nifty
Buy Signal Generated: 5947.05 on 20th December 2010
BB Upper Band Value at Buy Signal: 5946.07 on 20th December 2010
Current SL: 5999.4
Current Gain: 154.8
--------------------------------------------------------------------------------------------------------------------------------------------------
Script: BankNifty
Buy Signal Generated: None
Current Buy Above: 11749.1
And i have made a book of it ....
.
Did very little of formatting i.e removing more than 1 blank line, extra spaces at some pages, Font, AND ......( Apologies for the same ), Yet the book runs to 463 pages .
Have managed to read 180+ pages and now ........:fatigue:...:fatigue:,..... But Will continue..,
Hope this would be useful to those who visit TJ .
Below is the link ,
"http://www.4shared.com/account/dir/xxxxxxx/sharing.html?rnd=65"
Those who wish to access please replace "xxxxxxx" with YK9MAV61,
,
Raunak,
Apologies for some diversion from the purpose of your thread..
Best Wishes,
Nithin
.Did very little of formatting i.e removing more than 1 blank line, extra spaces at some pages, Font, AND ......( Apologies for the same ), Yet the book runs to 463 pages .
Have managed to read 180+ pages and now ........:fatigue:...:fatigue:,..... But Will continue..,
Hope this would be useful to those who visit TJ .
Below is the link ,
"http://www.4shared.com/account/dir/xxxxxxx/sharing.html?rnd=65"
Those who wish to access please replace "xxxxxxx" with YK9MAV61,
,
Raunak,
Apologies for some diversion from the purpose of your thread..
Best Wishes,
Nithin
Last edited:
.....................................................................................
u r one great discreationary trader with strong fundamental + TA background, also trained to handle market psychology.U view comparatively probability & directional move more imp than R/R ratio.
THIS strong background of probabilistic view ,how u make decision i am asking to elaborate.
Regards
oilman5
u r one great discreationary trader with strong fundamental + TA background, also trained to handle market psychology.U view comparatively probability & directional move more imp than R/R ratio.
THIS strong background of probabilistic view ,how u make decision i am asking to elaborate.
Regards
oilman5
Oilman,
I wish I had an easy answer for this. Let me attempt to answer it anyway.
Markets have essentially always remained the same. The key to get a grasp of it is to revisit history again and again. Hence, no matter what the situation is, I always revisit history to see what the markets have done during the same period. To understand and interpret that, one needs to be extremely sound with Fundamentals. And by Fundamentals, I don't mean some ratios and balance sheets. Fundamentals extend way beyond that and getting a grip of that is by no means an easy task. When fundamentals are concerned, I am lucky to have been trained by some of the leading Finance professors in the UK and hence it did help me to reach where I am today. Technicals on the other hand are used to confirm what the fundamentals are conveying. This is also true the other way round and this is why knowledge of both the fields is a must in my book. Let me give you an example of this.
In November 2010, I had written about Markets heading for 5700 from 6300 for a very short term. I knew in my mind that the correction which was about to come would be technical in nature and would provide good investment opportunity for the next 6 months. During same time, I had also written that going forward we need to see if this correction gets converted to a Fundamental one. I think a user named Trader_Man misinterpreted it as "Mumbo Jumbo" and did not follow what I was writing. Going forward, the "Fundamental Correction" has yet to come and it will come somewhere in 2011. Eventually, at 5780 I posted here that one must start accumulating Nifty and some stocks at this stage. This was only because the Technical aspect of correction was over and it was time for markets to head higher. Now, we are at 6100 + and some of the stocks which I had suggested (Hindalco, Tata Motors, Tata Steel, Biocon etc) are already up 10-20%.
To execute what I did one needs "clarity of thought". Once this comes, rest will automatically follow the same. Most important for any trader is to know what the markets are going to do in short term, medium term and in long term. For this, he needs to see how Technicals and Fundamentals are fitting together. Unless this clarity emerges, the long term net effect on one's account is always going to be mildly positive to largely negative. Hence, if you take it in consideration, I rarely go behind RR and I always go behind directional trades. As far as being discretionary is concerned, in my office I have 2 traders who purely trade on systems but I largely remain discretionary. Being a discretionary trader is difficult, but it is certainly more rewarding contrary to what many experts suggests. In a nutshell, if I have to sum up, I would say, my approach is a mix of Technicals and Fundamentals and to execute the same one has to be Psychologically strong and flexible. The former can be achieved with hard work, but the latter is not that easy to incorporate.
Let me know if you need to discuss anything more.
Tc
I wish I had an easy answer for this. Let me attempt to answer it anyway.
Markets have essentially always remained the same. The key to get a grasp of it is to revisit history again and again. Hence, no matter what the situation is, I always revisit history to see what the markets have done during the same period. To understand and interpret that, one needs to be extremely sound with Fundamentals. And by Fundamentals, I don't mean some ratios and balance sheets. Fundamentals extend way beyond that and getting a grip of that is by no means an easy task. When fundamentals are concerned, I am lucky to have been trained by some of the leading Finance professors in the UK and hence it did help me to reach where I am today. Technicals on the other hand are used to confirm what the fundamentals are conveying. This is also true the other way round and this is why knowledge of both the fields is a must in my book. Let me give you an example of this.
In November 2010, I had written about Markets heading for 5700 from 6300 for a very short term. I knew in my mind that the correction which was about to come would be technical in nature and would provide good investment opportunity for the next 6 months. During same time, I had also written that going forward we need to see if this correction gets converted to a Fundamental one. I think a user named Trader_Man misinterpreted it as "Mumbo Jumbo" and did not follow what I was writing. Going forward, the "Fundamental Correction" has yet to come and it will come somewhere in 2011. Eventually, at 5780 I posted here that one must start accumulating Nifty and some stocks at this stage. This was only because the Technical aspect of correction was over and it was time for markets to head higher. Now, we are at 6100 + and some of the stocks which I had suggested (Hindalco, Tata Motors, Tata Steel, Biocon etc) are already up 10-20%.
To execute what I did one needs "clarity of thought". Once this comes, rest will automatically follow the same. Most important for any trader is to know what the markets are going to do in short term, medium term and in long term. For this, he needs to see how Technicals and Fundamentals are fitting together. Unless this clarity emerges, the long term net effect on one's account is always going to be mildly positive to largely negative. Hence, if you take it in consideration, I rarely go behind RR and I always go behind directional trades. As far as being discretionary is concerned, in my office I have 2 traders who purely trade on systems but I largely remain discretionary. Being a discretionary trader is difficult, but it is certainly more rewarding contrary to what many experts suggests. In a nutshell, if I have to sum up, I would say, my approach is a mix of Technicals and Fundamentals and to execute the same one has to be Psychologically strong and flexible. The former can be achieved with hard work, but the latter is not that easy to incorporate.
Let me know if you need to discuss anything more.
Tc
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