Need strategy r charts to get atleast 1% profit in crude oil

[jagankris]

Ji if possible pls say wat u r doing....how u doing.....for learning wat shud I check.....pls be precise.....guide me how u doing trading.....wat chart I shud see....how to learn frm that

Sriram,

TA means technical analysis.
What I said was precise and straight forward.

But even to understand what I am saying you need to learn TA.
http://www.babypips.com/school
http://forums.babypips.com/free-forex-trading-systems/

So go learn TA basics.

Trading is a serious/risky business and it needs hard work and home work.
Don't expect any one to spoon feed you.Requires lot of screen experience.
It is not a get rich scheme over night.

It requires self effort,commitment.Learn,learn,learn a lot of things you need to learn in Trading,TA,Mastering your emotions.Meanwhile don't trade.

After learning TA.Device the trading system (Mechanical or discretionary).Back test it for several years.
Then paper trade for few months.
See if the system suits your personality and if you are able to stick on to the system.

Or Master few Trade set ups and wait for the trade set ups to emerge and see if risk:reward ratio is in your favor.
http://www.traderji.com/technical-analysis/36413-trading-strategies-using-technical-analysis.html
http://www.trading-naked.com/Setups.htm

Check if day trading/or swing trading suits you.
Decide if you want to be a day trader or swing trader.

Swing trading is easy but requires sufficient capital.Carries over night risks/Gaps.
Learn what is futures/options.
Have a written
1) Business plan
2) Trading plan

With out any basic knowledge or right belief's and un reasonable expectations /questions - you will not get right answers/reply any where.

If you are not sure if you can do all this by yourself find a trading mentor.

Just erase your wrong belief.
Trust me.There is no magical day trading system(Holy grail) if buy sell signals are followed will give 1% at the eod.(consistent daily returns).
If any system seller promises - you can be sure that it is a scam or it may work for some months and then will fail later when market conditions changes.

 

[narangji]

I am not here to debate with anyone. i have my strategy in place, with is success to me.
anyway, lesson learned from this thread that dont advice anyone. do my own work work.
Mr. Narangji Please think before using any faul language in public forum.

Sintona i have not used any foul language, Please stop misguiding innocent members, do you know how much loss it can lead , to what you have done? Even by mistake if any new member tries this he will not touch trading again ever in his life.

Get real. Load of Crap is what I mean, which simply means your formula is really bad as bad as something that has no worth.

 

[narangji]

Ji pls explain me atleast how u r doing......how to do....wat shud I do...

Sriram, get yourself good knowledge of TA first, develop a trading plan, prepare your risk management policy, prepare risk reward ratio, determine what trading style suits you most. Paper trade you strategy for few months before you play with realy money, why? If you cant make money on paper you cant in real time, See if you can remain diciplined when you trade. Now the hard part=, If you need any help, be specific on topics which you want to learn

for example I run into losses all the time : Incorrect post

Correct Post: This system I am using and it this is my journal this method and logic I used to enter and Exit trades, post it and wait for reply

Now problem is if you dont have a system in place: then you are in serious problem, then its time to dig what all you know at what stage of learning curve you are in. Find that out and start digging at that point onwards. Here are few examples

Correct Post EXample 1: I am trying to learn Trend Lines and I am facing a problem here on this points and then look for help
Draw a chart and tell experts what you cant understand

Or you could be at a higer stage of learning then

Example 2: Trading plan - I have studied 10 trading plans and this particular plan one is I like because its giving 40-50% chances of success and take it from there

Then post your plan ( dont be afraid, your plan is already tested by hundreads of trader's) They will only help you to fix it or tell you problems with it. Annoy senior members (by asking many of a million questions that come to your mind), annoy them so much so you get attention and they start helping you.

Now if you know your trading plan is giving 40% success, you know you are in business. Do you start trading yet?

Hell No - You fool around with that plan for months trying to figure out your weakness and find out if you can maintain a strict discipline,
maintain a TRADE JOURNAL ETC ETC.

I hope you get the idea. I am still in learning phase and someone corrected my path on how its done, today I shared the very same for you. I am positive that eventually you will find the correct path.

If you feel that you need more help, simply ask and will do my best to answer to the best of my little known ability.

 

[sriram01]

Sriram, get yourself good knowledge of TA first, develop a trading plan, prepare your risk management policy, prepare risk reward ratio, determine what trading style suits you most. Paper trade you strategy for few months before you play with realy money, why? If you cant make money on paper you cant in real time, See if you can remain diciplined when you trade. Now the hard part=, If you need any help, be specific on topics which you want to learn

for example I run into losses all the time : Incorrect post

Correct Post: This system I am using and it this is my journal this method and logic I used to enter and Exit trades, post it and wait for reply

Now problem is if you dont have a system in place: then you are in serious problem, then its time to dig what all you know at what stage of learning curve you are in. Find that out and start digging at that point onwards. Here are few examples

Correct Post EXample 1: I am trying to learn Trend Lines and I am facing a problem here on this points and then look for help
Draw a chart and tell experts what you cant understand

Or you could be at a higer stage of learning then

Example 2: Trading plan - I have studied 10 trading plans and this particular plan one is I like because its giving 40-50% chances of success and take it from there

Then post your plan ( dont be afraid, your plan is already tested by hundreads of trader's) They will only help you to fix it or tell you problems with it. Annoy senior members (by asking many of a million questions that come to your mind), annoy them so much so you get attention and they start helping you.

Now if you know your trading plan is giving 40% success, you know you are in business. Do you start trading yet?

Hell No - You fool around with that plan for months trying to figure out your weakness and find out if you can maintain a strict discipline,
maintain a TRADE JOURNAL ETC ETC.

I hope you get the idea. I am still in learning phase and someone corrected my path on how its done, today I shared the very same for you. I am positive that eventually you will find the correct path.

If you feel that you need more help, simply ask and will do my best to answer to the best of my little known ability.

ji thnx for a wonderful post...ji if i say something dont mistake...1st thing is until few days back i dnt know software i tried oly formulas and excelsheet but it made me loss....oly for the past few days im using amibroker software that too they r providing with sell and buy signals...if i want to learn separately how to use indicators in amibroker software without my brokers live data.....can u pls explain me...............i know this must be very silly for u but i dnt know how to use

 

[narangji]

ji thnx for a wonderful post...ji if i say something dont mistake...1st thing is until few days back i dnt know software i tried oly formulas and excelsheet but it made me loss....oly for the past few days im using amibroker software that too they r providing with sell and buy signals...if i want to learn separately how to use indicators in amibroker software without my brokers live data.....can u pls explain me...............i know this must be very silly for u but i dnt know how to use

For this you will need to learn AFL, Or you must have AFL that is tested and is written by someone else, like you have mentioned.

AFL- Amibroker formula language-

2 things can be understood from here:

1. You want to blindly follow buy and sell signals- I would not recommend that. You must understand what underlying concept your buy and sell signals are using or 100% you will make loss.

2. You want to write or code your own AFL (Buy Sell Signals)- For that you will need complete understanding of TA and will also need to learn computer programming.

 

[sriram01]

For this you will need to learn AFL, Or you must have AFL that is tested and is written by someone else, like you have mentioned.

AFL- Amibroker formula language-

2 things can be understood from here:

1. You want to blindly follow buy and sell signals- I would not recommend that. You must understand what underlying concept your buy and sell signals are using or 100% you will make loss.

2. You want to write or code your own AFL (Buy Sell Signals)- For that you will need complete understanding of TA and will also need to learn computer programming.

Ji if possible pls explain ur strategy.....

 

[narangji]

Ji if possible pls explain ur strategy.....

I am not trading as of now Sriram, Just learning TA and working on my trading plan.

If you want to learn download PDF Teach a Man to fish from saint.

https://www.dropbox.com/s/kl7vbkl49qo5osq/Teach A Man Fish Complete.pdf?dl=0

Download this file and see if it helps you.

 

[coolineo]

Sintona i have not used any foul language, Please stop misguiding innocent members, do you know how much loss it can lead , to what you have done? Even by mistake if any new member tries this he will not touch trading again ever in his life.

Get real. Load of Crap is what I mean, which simply means your formula is really bad as bad as something that has no worth.

I fully agree with Narang Ji. I lost some money in Crude swing trades so I thought why not play support and resistance on 1/5 min chart and earn quick 10 points on 10 lots to recover my loss (chutiya tha mein). Lost 4-5 L doing this thing. What happens actually is that you end up averaging the positions when they go against you and by the time you realize, you are in deep hole. I did this even after studying for months about TA. So it's more of money management and patience that is needed to succeed in this market. What a costly lesson

 

[pashutpsn]

I am not trading as of now Sriram, Just learning TA and working on my trading plan.

If you want to learn download PDF Teach a Man to fish from saint.

https://www.dropbox.com/s/kl7vbkl49qo5osq/Teach A Man Fish Complete.pdf?dl=0

Download this file and see if it helps you.

Sir I tried to download that thread in many ways if possible can u mail full thread pls sir its much helpfull

 

[osho343]

I fully agree with Narang Ji. I lost some money in Crude swing trades so I thought why not play support and resistance on 1/5 min chart and earn quick 10 points on 10 lots to recover my loss (chutiya tha mein). Lost 4-5 L doing this thing. What happens actually is that you end up averaging the positions when they go against you and by the time you realize, you are in deep hole. I did this even after studying for months about TA. So it's more of money management and patience that is needed to succeed in this market. What a costly lesson

Timing is important instead of 10 try 7 points based on overlap timings of other countrys opening time and INR closing time,and nse closing time