Learning Group -VIJAYWADA

[niftyoption]

“It’s simple. Your field of focus determines what you find in life.”

T. Harv Eker,

 

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NIFTY SPOT EOD CHART


Two days of testing previous GAP AREA

 

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NF hourly chart hanging in the Gap zone... making it a major support !!

 

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Daily routine for a price action trader

One of the most important things that i recommend is that you study your trading chart at the end of each day.Make sure you mark all of your trades that were taken
during the day and review each one. Try and determine what you did right on your winning trades, and what you did wrong on your losing trades. Once that review is over,
go through all of the price action again and try and determine what set ups you missed. Then try and determine why those set ups worked and what would have clued you into taking the set up in real time trading.

By doing this every single trading day, you will slowly condition yourself to what is working and what is not working, while also learning to spot re-occurring set ups.
As you learn to spot these quickly after the fact, you will slowly start to see them in real time as well. Once you can spot the set ups in real time, you will then become a
profitable trader. This daily chart review is one of the quickest and best ways to learn to trade price action, so do not dismiss the importance of it.

 

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Difference between Analyst and Real trader..

Original post :manishchan

Just came across your thread. Good start.

But after reading this post... my question is..

How can a level provider help you in learning ?? Level provider will just give you things like.. Buy @ 123.. Sell @ 789.. etc

Don't strive to become an analyst or level provider/seeker if you love trading... rather try to become a Trader !


Analyst :

Has loads of technical knowledge and can talk hours about what happened in the past and what can possibly happen in the future. eg : TV Analysts, TV Anchors, Some people who provide research based tips. But when it comes to taking real trade on their own money, not everyone is good at it. In fact this is one of the reason why many analysts who appear on TV don't trade for themselves.


Trader :

Trader knows technical and psychologies etc. A good trader not necessarily need to know all the micro tehnicalities of the market but he/she can trade well with real money in real time. A trader manages his/her psychology, capital, loss/win very well and therefore makes money from the market.

Learning curve

Original post :Manishchan

Take your time wave. No hurry. Also, as long as discussion is healthy there is nothing to be apologetic about. We all are learner no matter how far one gets in the world of trading.

Now coming back to your thought on "learning is a slow process.... how to start.. where to go etc.."

Let me give you an example.. Is becoming a doctor a slow process ? What about engineer, a CEO in a company, or a sceintist etc ? What about having an established business such a shop, mall, resturant, real estate business ? Nothing is fast right.. all takes its time and if one tries to hurry up, might fall flat on itz face.

So the point is that you have to consider Trading as any other profession in the world. It takes time.. trust me. I'm telling from my own experience as well as what I have heard or seen others doing. If one is starting from scratch, it will very easily take 2-3 years minimum to become consistently profitable.

If you want to become a doctor, you cant say dt it takes years of study and pratice.. I can just watch some youtube video on how to do heart surgery and read a few books and start operating people. You know what is the end result of it.. right. Similar is trading. Give it time.. take things slow and steady. Take one step at a time

Now how to go about it :

First step is dt don't get bogged down. There are tons and tons of things to learn and if you see them all as huge mt everst to climb, u will feel disheartened. Take one step at a time. There are many threads here in TJ itself. Go to basic section... read each of the starred threads first. Understand them apply them. Most of them are very basic foundation. Once you understand, you will know your next path. Just continue the journey and dont look back.

One thing I must tell you that don't be in hurry to make money (either by directly jumping to trade on your own or on someone els'es advice) because 99.9% chances are dt you will just burn a hole in your capital.

All the Best !!

 

[niftyoption]

 

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Price action setup 1 2 3 4

Source :Internet

 

[timepass]

Price action setup 1 2 3 4

Source :Internet

Looks like a slight variation of the WW, except that the lines are not converging.

Edit : I am also reminded of Umesh's method of selling/buying posted by our member here on TJ.

 

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Looks like a slight variation of the WW, except that the lines are not converging.

Edit : I am also reminded of Umesh's method of selling/buying posted by our member here on TJ.

Well !! TP bhai !!

This method is based on trend lines and angle of fall is very important !!

What is this Umesh's method ???

 

[timepass]

Well !! TP bhai !!

This method is based on trend lines and angle of fall is very important !!

What is this Umesh's method ???

Sorry, it was Uttam's method .. Uttamkamlesh is the id you are looking for.

http://www.traderji.com/commodities...lver-crude-oil-natural-gas-32.html#post592834

It's a huge topic and you will have to search for the posts by uttamkamlesh to dig for it