Very Beginer level Questions

[amsin21]

Hi Vibhor,
Just to encourage you, I started a few months ago at age 65. Two mistakes I have corrected -- 1. Keep my trade size small enough so that I can take a hit and survive; 2. Set my mental house in order so that I never, ever, ever break my rules.
Alas sometimes I still fall to temptation and inevitably suffer losses; no wonder it takes time and patience to become a good trader. Best wishes.

Well said senior ... market is such a place, everybody - juniors or seniors are lured into. No one can escape, everybody is prone to that.

 

[vibhor]

Hey amsin bro!
Hope you are doing well.
I am taking training now a days in Capstone. Here There are so many traders who don't believe in charts. They always said that charts are the history. They always trade on tape. Now i am bit confused, whether i should trade on tape or chart. They are very senior trader. They are earning a huge money by tape trading.
In our market, there is no tape. But in US market, tape is generated after the executed of any bid or offer.
If you have any knowledge about tape reading then kindly suggest any idea or any book, so that i can learn how to trade on tape.

 

[amsin21]

Hey amsin bro!
Hope you are doing well.
I am taking training now a days in Capstone. Here There are so many traders who don't believe in charts. They always said that charts are the history. They always trade on tape. Now i am bit confused, whether i should trade on tape or chart. They are very senior trader. They are earning a huge money by tape trading.
In our market, there is no tape. But in US market, tape is generated after the executed of any bid or offer.
If you have any knowledge about tape reading then kindly suggest any idea or any book, so that i can learn how to trade on tape.

Dear Vibhor,

Good to hear from you. Enjoy the training and become a pro.

I have heard of tape trading, but never got the opportunity to use it in live. Its an old way of identifying the trends in high frequency trading, previously tape printers are used...hence the name, now it's electronically.

Charts or tape .... 2 prime parameters are volume succeeded by price. Concentrate on that...the rest is as per your comfortable level.

Grab as much as you can from the training ... knowledge never let anyone down.

Googling gave this book lead :
Tape Reading and Market Tactics: The Three Steps to Successful Stock Trading - Humphrey B. Neill

All the best.

 

[sspms2002]

Hey amsin bro!
Hope you are doing well.
I am taking training now a days in Capstone. Here There are so many traders who don't believe in charts. They always said that charts are the history. They always trade on tape. Now i am bit confused, whether i should trade on tape or chart. They are very senior trader. They are earning a huge money by tape trading.
In our market, there is no tape. But in US market, tape is generated after the executed of any bid or offer.
If you have any knowledge about tape reading then kindly suggest any idea or any book, so that i can learn how to trade on tape.

Hi Vibhor...Tape reading is the way to go...It gives you that split seconds advantage that other traders see on chart after some time..

And who says that Tape doesnot exist in Indian markets...Any executed order on bid or offer constitutes TAPE..so we also have tape..but our platforms are not too advanced to show RED or GREEN colors on TAPE..they are simple plain and just show the prints..

Nevertheless it could be used for advantage if you really want to...

Also now a days there are some high frequency traders who use Sophisticated computers to generate money by churning pennies... and it becomes difficult to actually read tape..

But certainly when there is an obvious Big Player , it is visible in prints..

Also Tape reading will be useful only if you use a moderate volume stock so that our mind can interpret the data cleanly and act accordingly..

Do let know how/which path you take and how it can help others..

 

[niftytaurus]

Once again all the very best.

Couple of things I do/done in my trading career, just in case ...

• Watch Steve Nison's DVDs.
• Give a try in regression channel trading, really worth. A good read : Channel Surfing Riding the Waves of Channels to Profitable Trading -Michael Parsons
• Strictly listen and obey candlestick/chart patterns ... the real price action.
• Log all happenings and review weekly. Take necessary corrective measures if required.
• Say good bye to emotions during trading hours.
• Once in trade, place SL/target orders ... relax ... I normally listen KennyG ... beautiful.

Hi Amsin
Thanks for nice suggestions.I have downloaded the book you mentioned.
Its a nice book.on same site, I have seen that you have uploaded some other files & folders.How can I see them? can you share some more books/or study material there.so we can download
Thanks

 

[amsin21]

Hi Amsin
Thanks for nice suggestions.I have downloaded the book you mentioned.
Its a nice book.on same site, I have seen that you have uploaded some other files & folders.How can I see them? can you share some more books/or study material there.so we can download
Thanks

Which site your are referring to Bro?

 

[niftytaurus]

Which site your are referring to Bro?

Hi
I am mentioning 4shared

 

[amsin21]

Hi
I am mentioning 4shared

For you : http://www.****.com/folder/j8fqYwbR/Share_market_related.html

 

[niftytaurus]

For you : http://www.****.com/folder/j8fqYwbR/Share_market_related.html

Thank u very much..its so nice of u

 

[tamaa]

i have to check them dvds, thanks for thr links