Hello Everyone,
I am starting this new thread to resume my trading journey which I consider my version 2.0. I have always been a price action trader, giving focus to candle pattern, chart pattern, market structure study. I never really got how to use any indicators with trading. For past 3 years, I was trading with candle analysis and pivot trends (using fractals) and my trading approach was to trade the trading TF's trend in the direction of higher timeframe's trend.
Then over last 6 months, many things happened in my life, and my trading took a hit, and a time came it got stopped all together. Well, whatever happens, happens for good. I was not earning for sure, but I got an opportunity to reassess my journey for last 3 years, I got a much needed break even if I did not want it.
Then I met a friend in Traderji (XRAY) and he introduced me to volume price analysis. This Sunday I finished the book on Volume Price analysis by Anna Coulling and this opened a whole new dimension for me and changed my way I used to look at charts. Now I am still watching the price actions and price patterns on chart but a validation by volume analysis. I have been practicing the concepts hard since then to learn how to apply the said knowledge in my live trading.
LoneWolf's trading diary 2.0
So here I am starting this new diary to document my learning and progress with price action and volume analysis. I will start the live action from 1st November 2017.
Objective : To catch the short term (intraday) swing and medium term (weekly) swings) with price action and volume analysis
Instruments : NIFTY and BANKNIFTY future
Timeframe : 3 minute for Intraday and 15 minute for swing trades
Strategy : Price action with volume analysis.
My core principle is based on Sir Richard Wyckoff's three fundamental laws of chart analysis. They are -
1. The law of Supply and Demand
2. The law of Cause and Effect
3. The law of Effort vs Result
I am starting this new thread to resume my trading journey which I consider my version 2.0. I have always been a price action trader, giving focus to candle pattern, chart pattern, market structure study. I never really got how to use any indicators with trading. For past 3 years, I was trading with candle analysis and pivot trends (using fractals) and my trading approach was to trade the trading TF's trend in the direction of higher timeframe's trend.
Then over last 6 months, many things happened in my life, and my trading took a hit, and a time came it got stopped all together. Well, whatever happens, happens for good. I was not earning for sure, but I got an opportunity to reassess my journey for last 3 years, I got a much needed break even if I did not want it.
Then I met a friend in Traderji (XRAY) and he introduced me to volume price analysis. This Sunday I finished the book on Volume Price analysis by Anna Coulling and this opened a whole new dimension for me and changed my way I used to look at charts. Now I am still watching the price actions and price patterns on chart but a validation by volume analysis. I have been practicing the concepts hard since then to learn how to apply the said knowledge in my live trading.
LoneWolf's trading diary 2.0
So here I am starting this new diary to document my learning and progress with price action and volume analysis. I will start the live action from 1st November 2017.
Objective : To catch the short term (intraday) swing and medium term (weekly) swings) with price action and volume analysis
Instruments : NIFTY and BANKNIFTY future
Timeframe : 3 minute for Intraday and 15 minute for swing trades
Strategy : Price action with volume analysis.
My core principle is based on Sir Richard Wyckoff's three fundamental laws of chart analysis. They are -
1. The law of Supply and Demand
2. The law of Cause and Effect
3. The law of Effort vs Result