Trading Strategies Using Technical Analysis
- Thread starter SwingKing
- Start date
- Tags trading strategies
Hi Piuvbn, .. Here is i found one nice poem of Man..
Man O Man
When without money, eats wild vegetables at home
When has money, eats same wild vegetables in fine restaurant.
When without money, rides bicycle;
When has money, rides exercise machine.
When without money, walks to earn food
When has money, walks to lose the fat
Man O Man ! never fails to deceive thyself !
When without money, wishes to get married;
When has money, wishes to get divorced.
When without money, wife becomes secretary;
When has money, secretary becomes wife.
When without money, acts like rich man;
When has money, acts like poor man.
Man, O Man, never can tell the simple truth !
Says share market is bad but keeps speculating;
Says money is evil but keeps accumulating.
Says high positions are lonely but keeps wanting them.
Says gambling & drinking is bad but keeps indulging;
Man O Man ! Never means what he says and never says what he means!
Man O Man
When without money, eats wild vegetables at home
When has money, eats same wild vegetables in fine restaurant.
When without money, rides bicycle;
When has money, rides exercise machine.
When without money, walks to earn food
When has money, walks to lose the fat
Man O Man ! never fails to deceive thyself !
When without money, wishes to get married;
When has money, wishes to get divorced.
When without money, wife becomes secretary;
When has money, secretary becomes wife.
When without money, acts like rich man;
When has money, acts like poor man.
Man, O Man, never can tell the simple truth !
Says share market is bad but keeps speculating;
Says money is evil but keeps accumulating.
Says high positions are lonely but keeps wanting them.
Says gambling & drinking is bad but keeps indulging;
Man O Man ! Never means what he says and never says what he means!
Dear Raunak (sorry......SwingKing).( It seems it takes time to familiarise with your new name)
When I roll over countless charts I found that failed breakouts are more in number than successful breakouts. So, my question is "Is it not wise to look for opportunities anticipating a failed breakout when it is about to happen and trade accordingly, to increase percentage of winning trades?" (I am referring daily charts).
Consider the fact that 80% of the time markets donot trend. In other words, breakouts happening in 80% of the time are false. Doesnot it make sense to go against trend breakouts to make money 80% of the time.
When I roll over countless charts I found that failed breakouts are more in number than successful breakouts. So, my question is "Is it not wise to look for opportunities anticipating a failed breakout when it is about to happen and trade accordingly, to increase percentage of winning trades?" (I am referring daily charts).
Consider the fact that 80% of the time markets donot trend. In other words, breakouts happening in 80% of the time are false. Doesnot it make sense to go against trend breakouts to make money 80% of the time.
Dear Raunak (sorry......SwingKing).( It seems it takes time to familiarise with your new name)
When I roll over countless charts I found that failed breakouts are more in number than successful breakouts. So, my question is "Is it not wise to look for opportunities anticipating a failed breakout when it is about to happen and trade accordingly, to increase percentage of winning trades?" (I am referring daily charts).
Consider the fact that 80% of the time markets donot trend. In other words, breakouts happening in 80% of the time are false. Doesnot it make sense to go against trend breakouts to make money 80% of the time.
When I roll over countless charts I found that failed breakouts are more in number than successful breakouts. So, my question is "Is it not wise to look for opportunities anticipating a failed breakout when it is about to happen and trade accordingly, to increase percentage of winning trades?" (I am referring daily charts).
Consider the fact that 80% of the time markets donot trend. In other words, breakouts happening in 80% of the time are false. Doesnot it make sense to go against trend breakouts to make money 80% of the time.
Chart patterns such as "Turtle Soup" ,"Turtle Soup Plus One", 2B,Specialist's Trap,Smash Patterns are based exactly on failures/rejections.
Smart_trade
Last edited:
Posting a chart showing how Rejection and Failures could be traded with tight stops.....The chart is 5 min Bank Bifty Futures chart....This is a case of Rejection......See how we got a rejection trade near the area of resistance shown by the red horrizontal line.
We can see plenty of such trades in intraday or daily timeframes....
Best wishes,
Smart_trade
hi gauharjk
a little tool you should use daily and one which does not effort expensive software. I will give you two example with nifty chart witch i downloaded from here : http://nifty.chart.tripod.com/. So, also the data for the chart is free. You only need a printer.
http://img109.imageshack.us/img109/9199/image1xy.png
http://img833.imageshack.us/img833/3064/image6s.png
in this charts you can draw trend lines. It is so simple and still a powerful tool. You have to do that, before market opens. Such trend lines show you some kind of market structure. You do not need to know any thing about indicators and what ever. Just paint such lines. They must be drawn from high to high or as you see the broken line, from pivot to pivot.
You can believe me : This will help. Try to place your orders on such lines. Use a hard stop loss. Those lines can show you support and resistance.
You would not get faked with your idea about a decent rally, if you would have used such an easy tool. Such trend lines must be broken clearly for trend changes. As you see twice, it was not broken. The down trend line was touched, but not broken. With this simple knowledge, you may also not would have gone long in sbi with your call.
http://finance.yahoo.com/charts?s=s...on;ohlcvalues=0;logscale=off;source=undefined
or what does this chart show ?. You added long shares before in a downtrend and now you go long with calls in a downtrend. You may lucky tomorrow and market jumps, but better use this simple rule and never go against the main trend. Pros can do with a good mm and non pros should really stay away from such stunts.
Have a nice evening and paint your trend lines for tomorrows market.
danpickup
a little tool you should use daily and one which does not effort expensive software. I will give you two example with nifty chart witch i downloaded from here : http://nifty.chart.tripod.com/. So, also the data for the chart is free. You only need a printer.
http://img109.imageshack.us/img109/9199/image1xy.png
http://img833.imageshack.us/img833/3064/image6s.png
in this charts you can draw trend lines. It is so simple and still a powerful tool. You have to do that, before market opens. Such trend lines show you some kind of market structure. You do not need to know any thing about indicators and what ever. Just paint such lines. They must be drawn from high to high or as you see the broken line, from pivot to pivot.
You can believe me : This will help. Try to place your orders on such lines. Use a hard stop loss. Those lines can show you support and resistance.
You would not get faked with your idea about a decent rally, if you would have used such an easy tool. Such trend lines must be broken clearly for trend changes. As you see twice, it was not broken. The down trend line was touched, but not broken. With this simple knowledge, you may also not would have gone long in sbi with your call.
http://finance.yahoo.com/charts?s=s...on;ohlcvalues=0;logscale=off;source=undefined
or what does this chart show ?. You added long shares before in a downtrend and now you go long with calls in a downtrend. You may lucky tomorrow and market jumps, but better use this simple rule and never go against the main trend. Pros can do with a good mm and non pros should really stay away from such stunts.
Have a nice evening and paint your trend lines for tomorrows market.
danpickup
Which is the world's most bullish market since 2008 recession? I can't think of any other but Argentina which has risen stupendously and given a gain of 437% and 1800% since 2002. I still believe it is the most under rated country but personally I find it the most interesting upcoming countries in the world. Huge resources which are yet to be explored.
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