Learning Group -VIJAYWADA

[XRAY27]

NIFTY SPOT EOD

 

[XRAY27]

Building own system

Trading is not something where one picks up a system from someone or learns a systems and starts making money. Every individual is different with different mindset...so every trader has to make a system which is in tune with his mind and beliefs. And that is not an easy task.
I have seen many successful traders but not yet seen 2 successful traders trading same/identical system....each of them has a different system...so system is not a plug and play thing.
Smart_trade

 

[XRAY27]

Single time frame trading and multiple time frame trading

Single time frame

Single time frame trading involves only one chart where he trades on

1. More number of entries and whipsaw trades

2.Reversal trade attractions ..which often results in brewing the ledger

Multiple time frame

Multiple time frame analysis is a powerful tool that enables a trader to increase the probability of winning trades and minimise risk. The concept involves observing different time frames for the same asset, identifying the overall market direction on the higher time frames and then looking for entries on the lower time frames.

1. Low risk entries in direction of trend

2. No attractions for reversal trades

3. Limited trades

 

[XRAY27]

This quote of Brett steenbarger which i like most

Good site :- http://w w w.brettsteenbarger.com/

 

[XRAY27]

For Finding support and resistance through option chain,we have to take MAX OI(open interest of call and puts) for the range...
Exception: it may not work for last week of a month

NIFTY

BANK NIFTY

 

[anilnegi]

Xray

but i dont think this should be sole criteria for buying /selling nifty/stock, as u can see following example

Reliance already broke that level of resistance and it has shown strength to go above from these level, than how can we play this stock on basis of OI

thanks

 

[XRAY27]

Xray

but i dont think this should be sole criteria for buying /selling nifty/stock, as u can see following example


Reliance already broke that level of resistance and it has shown strength to go above from these level, than how can we play this stock on basis of OI

thanks

Anil,

Resistance will be turned as support and support will be turned as resistance this is part of market...OI action is one of the criteria...we cannot marry any level,have to go according to the flow..
:thumb:

 

[XRAY27]

NF HOURLY

Present position

 

[XRAY27]

How to look time and volume factor (in Gap/s i do follow this)??

Volume test and time factor are two essential factors to be noted in case of GAPs to find reversal..this is my observation and working, so sharing this in the forum

My order was not get filled in total..nifty moved :annoyed:

 

[XRAY27]

Three must things for a trader

1.A trader that chooses to be master a specific type of trading method or set up ,has a much better chance of success than the traders that just dabble in many different things and never make much progress.

2.A trader has to write a good trading plan while the market is closed to guide their trading while the market is open up.

3.A trading plan has to be followed with discipline to have success.