Spicy trader is here!

SpiceB. · #1 7th April 2008, 03:03 AM

Hello all! I am a trader based in Delhi, and trade for a living in stocks and commodities market (what else is there to trade anyways?

). For analysis, I use Advanced GET Real Time, Metastock 10.1, and Telequote. But the best software that has till now found no match is the one between my ears. Nothing has worked for me like the good old common sense.

There's not much to tell about me, or perhaps, there may be too much to tell. In either case, I am too lazy to share all that. You will have to ask me questions to know me more, if you wish, that is.

I believe in TA from the bottom of my everything, and try not to read newspapers, watch CNBC, or pay attention to any other form of media, as they only work toward spoiling my trades. I can boast of a strike rate of more than 85%. I have a self-designed trading system in place, that I am in the process of automating. It is an always-in-trade type of system, where you are either long or short in a stock all the time. So far results are overly exciting. Returns are exceeding 2x-3x the entire rally that a stock experiences. Bad trades are 2-3 out of 20. Trades with little result are 3-4 out of 20. Rest all are profitable to the maximum extent possible. I strongly believe that no one should enter a trade if one has no idea about the exit points, both above and below the entry price. If you can't set targets, you have no business doing technicals, and chances are you will not survive for long, or will make only measly profits. My strong points in TA are target setting, trend determination, and setting effective stops. I use variety of tools, but the top spot has to go to the combination of trend lines, Bollinger Bands, and MFI.

I have read enough books on philosophy, so am really not interested in writing lengthy essays on the forum to showcase my understanding of the underlying concepts of TAs. I would like to become friends with hardcore technicians, and discuss the intricacies of the science and analysis of specific securities. Elliott followers are most welcome.

Enough for now!