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#1
3rd June 2007, 09:43 PM
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Limited Resources
Many times different strategies and indicator tweaking is discussed in this forum. i am using 5 paisa realtime charts in market hrs. for offline study i use fcharts / fibotrader. now 5 paisa has very few indicators like BB,MA,RSI,Stochastic,MACD & ROC, also they dosen't allow to draw trendlines or any kind of lines on chart. In this situation how a newbie like me decided what to trade ? when to enter ? when to exit ? etc.
 
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#2
3rd June 2007, 10:09 PM
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Re: Limited Resources
Quote:
What to trade: Stick to a basket of frontline stocks from say the Nifty fifty. Choose say 5 or 10 stocks at the most. Entry/Exit/Stops: Learn how to use Pivot points. Type ' Pivot Points' in Google search and you will get plenty of stuff to read. Use hourly charts or 30 minute charts, to determine the trend on these smaller time frames. You can use www.icharts.in for this. Use EOD charts to determine the larger trend. Go along with the larger trend. ie, if the trend on the Daily charts is down, your strategy will be to look for an opportunity to go short on the smaller time frames. Hope this helps. ss 
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