Charts for the Day
- Thread starter anil_s_trivedi
- Start date
- Tags 50 dma investing chart reading moving average setups ta charts
By - Nick Radge
After the Federer victory, Jim Courier made the comment...
"He doesn't bleed. He's not human."
In reference to his psychological fortitude, his superior emotional strength.
Even though the stress was immense, Federer relied on his years of training. Followed his game plan. Allowed the cards to fall where they may.
It's the one required trait of every successful sportsman. Anyone can hit a tennis ball. But not everyone can cope when big money is on the line.
And anyone can place a trade.
But doing so when it's most needed requires immense psychological fortitude.
You can't teach that. It's not on the internet or in a book.
Instead you need to experience the fear. Nurture it. Become comfortable with it. Push through and rely on the training and the plan.
Yet, sometimes, during the learning process, it can all turn ugly.
Like for me 30-years ago when I couldn't get out of bed. My mouth was full of ulcers and blisters. Even breathing was painful.
I had lost everything in the '87 crash and made myself sick with worry.
I deserved it though. I had no plan. No exit strategy. No risk management. No diversification.
Nothing.
And that's why I got sick.
Fast forward to last November days before the US election. Word on the streetwas that if Trump got elected the market would crash, like it did in 1987.
I'm 100% long equities in the US Momentum portfolio. I have a family. Commitments. More to lose than that 20-year old self did all those years ago.
But now I have a plan. An exit strategy. Risk management. Diversification.
And because I have nurtured my fears I could rely on my training. Let the market do what it had to do. It didn't matter.
After the Federer victory, Jim Courier made the comment...
"He doesn't bleed. He's not human."
In reference to his psychological fortitude, his superior emotional strength.
Even though the stress was immense, Federer relied on his years of training. Followed his game plan. Allowed the cards to fall where they may.
It's the one required trait of every successful sportsman. Anyone can hit a tennis ball. But not everyone can cope when big money is on the line.
And anyone can place a trade.
But doing so when it's most needed requires immense psychological fortitude.
You can't teach that. It's not on the internet or in a book.
Instead you need to experience the fear. Nurture it. Become comfortable with it. Push through and rely on the training and the plan.
Yet, sometimes, during the learning process, it can all turn ugly.
Like for me 30-years ago when I couldn't get out of bed. My mouth was full of ulcers and blisters. Even breathing was painful.
I had lost everything in the '87 crash and made myself sick with worry.
I deserved it though. I had no plan. No exit strategy. No risk management. No diversification.
Nothing.
And that's why I got sick.
Fast forward to last November days before the US election. Word on the streetwas that if Trump got elected the market would crash, like it did in 1987.
I'm 100% long equities in the US Momentum portfolio. I have a family. Commitments. More to lose than that 20-year old self did all those years ago.
But now I have a plan. An exit strategy. Risk management. Diversification.
And because I have nurtured my fears I could rely on my training. Let the market do what it had to do. It didn't matter.
Idea showing signs of intermediate bottoming...Stock tested bottom of nov-16 this time with volume...but no significant follow up, weakened the cause of bears...
Infact stock got bounced form same levels with volume this time...Stock just resting under Trendline resistance...above that a test towards 90 levels coming in...
Visiting the thread after many days, it's always wonderful to read your simple and effective analysis 
Sir, could you through some light on the topic of 'ADDS' after we take a position in a stock.
Sir, could you through some light on the topic of 'ADDS' after we take a position in a stock.
Now what is nature of pullback this required your chart reading part. What pullbacks you should take minimum 3 bar or x' bar... This is crucial part.
And lastly volume part, pullbacks in uptrend should be on lower volumes preferably below avg bars...spread on bars should be on lower side compared to bars in uptrend. Strong consolidations are sideways where price move in between boundaries with tight closings coming in midway of consolidation zones...this is sign of big players trading in.
Also while coming out of those small/big consolidations volume on bar should be good one, preferably above avg....
My adds come into play only when price is above 200 SMA...below that no additions..
Problem is i cant give you exact rule/formula to add longs...As basic chart reading is the sole criteria for adding longs...
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