TECH-nikaal ANALysis...!

[devang1973]

Nice one linkon..

 

[oilman5]

A good analyst and a good trader are normally poles apart in their mindset. The major difference is how much "being right" features in the priority list. They both handle the randomness very differently.

Analyst tried to define the market direction with reason that is interpreted from historical price data. A trader uses the same data but is looking for low risk - high probability entry. He has flexible view and doesnt mind being wrong and normally targets smaller stoploss and has no issues with re-entry.

An analyst will normally assign a lot of worth to his views and will average his losing trades and find new reasons to hold on. A trader will cut his losses and will normally have flexible targets. Every new bar is a reason to review his position in hand and will normally be the one to add to his winners.

The problem with learning too much TA is that we tend to be more of an analyst than an good trader.

Recently, i have been experimenting on letting my winners run and it was very tough on me. I have always been the chiller collector. My belief was that its easier to gain 4 trades of 12 point profit than getting a single trade of 50 points. There were instances when i was in profit for over 2 hours and a single spike would scratch the trade. It really hurt like hell. But the few winners that ran made up for all the loosers. But once i learnt to ride the profit, there was lesser instances of market not giving an entry when it made a mad rush. I was normally in the trade and instead of looking for entry, i was finding new reasons to hold on.

Its a matter of mindset. One thing i admired about flow traders is their ability to be lazy bums and avoid trading when market is in the D area. When market is sideways, i normally see ST da chatting and having a good time with everything other than trading. When he is in a trade, he likes to concentrate and avoids detraction like a plague. All a good trait of a good trader...!

...........................................
a gem of a post.The skill to shift to other timeframe trading

 

[iyerboi]

@linkon - yup, i ustd but my capital is pretty low -max 25k. and thing is ive burnt my hands pretty bad , so stick to 5% returns per trade.

today, i hung on waiting to breakeven - finally booked loss of over a 1000. damn!!!!!

 

[linkon7]

Nice one linkon..

GUYS...! He is the guy i was talking about...!

 

[NTrader42]

GUYS...! He is the guy i was talking about...!

Hello Linkon

He has made 2 posts here @ Tj . . .

14th August 2009, 08:40 AM ===> 10th January 2012, 01:43 PM

so devag's next post will be on 26th June 2014 thats what "TECH-nikaal ANALysis...!" says

All he has to do is make one more post today or anytime in next 2 years and the system stats go for a toss

Happy Trading

 

[linkon7]

Hello Linkon

He has made 2 posts here @ Tj . . .

14th August 2009, 08:40 AM ===> 10th January 2012, 01:43 PM

so devag's next post will be on 26th June 2014 thats what "TECH-nikaal ANALysis...!" says

All he has to do is make one more post today or anytime in next 2 years and the system stats go for a toss

Happy Trading

what do expect from a non technical investor to do on a forum of traders...! I am surprised he posted before...! his last post was after i gave him the link today...!

 

[NTrader42]

what do expect from a non technical investor to do on a forum of traders...! I am surprised he posted before...! his last post was after i gave him the link today...!

hmm seems you missed the point about my post . . .

It was about projecting the past statistics and trying to interpolate the future occurrence aka most of the TA . . .

anyway . . .

cheers

 

[linkon7]

Multiple instances of this pattern was successful in predicting the extent of retracement of a major trend. Now question is, will this pattern hold good this time...!

Answer is, i don't care...!

All i know is i got an awesome risk reward trade to look forward to... The price i pay to know if the pattern will hold is very small compared to the reward i'll get if it does hold.

Whole market is looking bullish and is dreaming of 5100 now. Excellent time to play contra...! A lot of trapped bears have licked wounds and have reversed to long...! now that the whole heard is bullish and optimistic, market might not oblige....!

Options OI points to strong build up on the 4900 call and bulls are cementing the 4800 put level with equally strong build up.

end of the day it all boild down to a 15-20 point loss potential vrs a 100-300 point gain opportunity...!

will initiate the trade tomorrow...!

 

[timepass]

and there are gaps to fill.

 

[VaibhavPRO]

Identify the phase of the market.
IF we are in sideways phase then book all at fixed targets.
IF we are in pause in a strong trend phase, then book 50% at fixed target and buy it back at lower level and continue till u have a break out / down.
IF we are in a break out / break down phase, don't exit 50% till u have a strong reason to go contra, like divergence, BB touch, end of momentum bar etc.
IF we are in a strong trend, then try to add to your positions. avoid partial exits.
IF we are in weak trend, then book all position at nearest support / resistance on higher tf.

Wow. Quite useful post.Ty Linkon.
Has activated some wires in my brain.