My daytrading

One more question...when we happen to see very long bar when mkt opens ( which means first bar at 9:15) how to use that bar for our trading. i happen to see so many times recently

really sorry to trouble you with much questions
Bala

Bala,

I did explain how volume plays role in initial posts of this thread.You can go back and check them to get better understanding.

Reading price action is not such a easy job.Its like playing classical music.It needs practice,patience,observation.

I searched for it outside ( Price action materials).I didn't find.I searched inside .I got it.

Why do you search outside for something which is within you?

Sure Raghav. right now What i am doing is selected few stocks which you suggested and closely observing price action with volume. But I had different scenarios yesterday.

Hope i am going in the right way...please correct me if i am wrong..
THanks
Bala

Bala,

Indeed you are in a right way and I am sure you will reach where you wanted.

Go through the charts again and again.Note down how price reacts when it reaches low of the day ,high of the day,high/low of previous day,at previous swing high/swing low.

Also see how price behaves when the Stoch stays in OB>5bars,OS>5 bars?also note how round numbers 00,25,50,75 act as support and res. Just observe for few days.Just observe for weeks..DON'T trade first.First you observe.After few days/weeks you develop confidence automatically.Why not trade first?The moment you trade the past haunts you.The emotions try to catch you.That's why Just observe.Same phenomena repeats - Thats called " again and again and again and again and again". Thats where you start.................Oh...So simple.... How did I miss these simple stuffs for years....Oh god...Then you really develop......Then you say I neither need Raghav's price action nor ST's Stoch :lol:

Beware of herds... They are round the corner to catch you out:lol:..

Thanks Raghav for the wonderful encourging words. Day by day you are increasing my confidence in me. Thanks a lot

RaghavJi
Thanks a lot. I use thank button sparsely as I find sometime thank button disappears,all your posts are thanked silently. Regards.

Raghav, Thank You very much for great thread. Following you along, please keep posting your valuable input to the forum, which gives not only direction and but also energy go along in trading journey.

Thanks.

Sorry guys, could not update the pdf for this thread as my BSNL Connection was down for 3-4 days.

Here, is the updated file. I have not converted it to pdf. It's .docx file.

Download

Hello Friends,

I am really stuck with my work so much so that I am not even unable to take any daytrades!!.

Your enthusiasm is highly appreciated and please keep it going. I know I miss lot of things in between.However lets wait till my work get eased and we shall take up everything one by one.I know how much you all love this thread.

On EOD basis what I saw though I couldn't take any trades during the day.

TATA MOTORS - A "Safari" move first down!! .Then a "NANO" move up!!.