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1701

New Member
#1
Hi Everyone

I have been interested in stock markets for last 2-3 years.........But I am relatively new to the field of technical analysis though reading a lot on it these days................

Can some one tell me how professional traders look for suitable candidates for Intraday trades...............

1. Typically how many charts they review............
2. What they look in them.................................
3. I see many technical analysts giving recommendation on tv channels for
intraday trade...............but at the end of the day 90% of their tips does
not seem to meet the target..........
4. Do I need to shell out some hefty amount for some technical analysis
software and data in the beginning...........
 

nac

Well-Known Member
#2
^ Its good that you are reading.

Start with applying what you have read. Check whether your speculation is right? Tune your knowledge by reading and continuous application of the same. Look for news, anything relating to economy, industry, company etc...
Since you are new, don't spend a lot right at this time.
 

nis

New Member
#3
hi 1701

"wisdom is greatest wealth which can achieve through knowledge"
i can recommend u following;
1.read more books on TA{as u are doing many ebook's are available for free
2.use breakout,range trading,orb,channel trading,swing trading,candlestic trading,fibo level's,chart patterns,
3..if possible try to learn ELLIOT wave theory which is greatest tool we have at present.
4..use intraday trade with 5 min charts
create your own trading systerm invest into it {i will advise rather then investing in software invest on knowledge...


happy trading...

regard's
 

sumitdasjoshi

Well-Known Member
#4
Well if you think that news chanels is not good your wrong they are good and most of them achive there traget but if you wana realy start that do one thing choose one person like aswani or some one else and keep a daily trake of what they are sugesting and look for himself i will suggest you to paper trade on there tips whit stop loss and you will find that you will be in a profit atleast do this for one month and see the result you will know whay there on tv because they are good
dont go for every one choose one and do paper trade and see for your self .
 
#5
hi,

@1701
i will suggest patient and thorough reading of the sticky threads in this forum and invest in a good charting software to analyse what you read.if you carefully follow the discussions you will know what people are looking into the charts.
in stock markets nothing is comparable to experiencing things first hand.

before starting to trade you have to decide what type of investments you want to make like long/short terms or swingtrading,based on that only you can look into the charts for what exactly you want.

my most important suggestion will be --look at the blue channels only to know the news in detail --NEVER EVER LEND A EAR TO THE CLOWNS THROWING TIPS AT YOU IN THOSE CHANNELS.

all the best
sbhav