Trading setups and technical trading.

What is technical analysis?
What does it do? Is is really helpful?
What are trading setups? what is technical trading?

There are plenty other questions which ofcourse you will be able to find answers by reading books and also by google search for the articles. Most of us have very good knowledge about trading, we all try to learn the basic and get the fell of the market by loosing money in our initial stage. We all try to find some shortcut methods which will give us good profits. Even though after reaching certain stage we still continue to learn and explore new strategies. Trading itself is a never ending learning process. Search for holygrail still continues.

Profit small or big doesnt matter but to be in consitently in profit that what matters the most. So ask yourself is it possible to be in profit all the times, We all know the answers.

So with a view to learn and gather more knowledge and make our trading strategies much better and trade with good knowledge where we have a reason to enter a trade and to exit a trade.

As I am working full time so I may not be able to give more time to the thread and also may not be able to answer all the queries posted by the members, but would ask some of our seniors if they have time to answer those queries posted by the newbies.

Thanks and regards,
Rajendra Iyengar.

Market Profile​

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Most of the setups here which we will be discussing are not mine and dont take any responsibility for any losses and also dont take any credit for any profit you make. These setups are found on net and also from trading books. So the credit goes to the original authors of these setups. We will just discuss the basic idea and will try to add some tweeks to it, so that it works for us.

Most of the professional traders says that we just need to master one setup to be a a consistently profitable trader. Screen time will allow you to master one setup. After you have mastered one setup "own it " you can add another setup. This can be an ongoing process developing your own style

These are definately not my words, again the credit goes to the original author.

Lets start with the trading setup.
Gimme Bar setup - Joe Ross

Indicator: Bollinger Band 20 and 2 std dev

Concept is to apply this trade when in a range. Determine range by slope of Bollinger bands when they are relatively flat you are range bound. Eventually price will break out so as time increases use more caution.

Sell break of Gimmee bar when at resistance = top Bollinger band or

buy break of Gimmee bar when at support = bottom Bollinger band

Either the Gimmee bar or bar preceding the Gimmee bar must touch the Bollinger band.

The Gimmee bar must be in the direction away from the Bollinger band = a reversal and opposite from the preceding bar. This idea is basic price action reversal bar pattern. Sometimes in addition it will be a inside bar which in itself is a trade many times.

You can also choose to trade with a lower time frame to find the entry or most aggressive Buy/sell the poke above/below the band.



More detailed information on the gimme bar is in the attached pdf file. Please read it to understand the concept properly.

Wow Rajendrani Nice ............ it will certainly help us to borrow some ideas looking forward to your post

wow, raj...excellent...:thumb::thumb:

looking forward to great learning experience with you..

thanx

Thank you Rajendrani Sir , will be looking forward to more posts from you.