My Analysis and Trade reviews

from some blog for today -

" What a fantastic day of trade.
Both long and short traders would have lost heavily.
One of my friends was short in the morning, system showed a profit of Rs 15000, then markets shot up, then system showed a loss of Rs 15000 (So net loss of Rs 30000 from morning), then he squared off all the short positions and went long, at the end of the day the loss was Rs 50000. "

Hi
Thanks for a great thread for price action traders..It would really give a good chance to learn price action & trade it.
Do u trade in cash or in future? How many scrips u trade per day..?
thanks

Its an example of how a worst trader posted something about a bad trader

Ppl who r trading based on price action had made money today in both sides.

thanks for ur kind words, hope it's useful to some, would appreciate more questions as it will help me in improving myself.
I trade only in cash, easier to manage risk as i am a small trader. Number of scrips varies each day, i start with 6-8 then about 10 am i chose strongest or weakest stocks, so in total anywhere about 10-15 stocks a day. Also i keep any eye on nifty.

cant comment on their trading ability as this is just one day performance, but ppl have surely made a lot of money today .

dear,
u are explaining so beautifully,it is very hard to find,what u have left
so no question :clap::clap::clap:

carry on with your good work

it is really nice and educative

thanks

such nice, confidence boosting words are always welcome .
i myself like your work very much, disciplined and dedicated, you are already doing very well and i am sure soon you will be a nifty master .
the thing is that i can't see what i don't know which is very limiting for learning and improving and that's why i think it's so important to have a mentor. Another person will be seeing from his perspective and can see things that i do not which results to questions and discussion and thus improving our knowledge.
Actually i was thinking of a group trading purely on price action(not calls just analysis), initially we can just focus on one instrument so that sharing our ideas is easy.
Nifty futures would be the most commonly watched but issue is that i dont trade it and i dont know how many are trading it. I do watch nifty spot but not with that much focus and i can shift to nifty futures if there is not much difference in how i can judge market mood based on niftyfutures, maybe other members can help me on this....
Interested members please voice their opinions about forming a purely price action trader group.

Hello

Thanks for such a nice thread.

Gradually I am also arriving at a conclusion that for a retail small cap trader, trading based on price action is the best way (maybe the only way) to go.

Many of us would be interested in joining such a group, but some of the leaders / experienced traders i.e. guys like you would have to frame some rules / modalities for smooth functioning and strictly implement them or else random posting of opinions etc. just creates too much noise . . .

Thanks

For me price action is the only way to go as i feel confident only when i can understand what's happening, it gives me a way to make a direct relationship with market . I dunno how people feel using indicator but i know that i never felt good using them, p.a gives a feeling of fulfillment to me.

rules/modalities, i can do that, no issue. Only People who are really serious to learn and willing to put the hard work should be joining. Learning price action is very difficult but one can learn surely if he puts the right work. Current level of knowledge is no issue if they have right attitude.

Have attached nifty spot hourly chart, what similarities do you see in the
highlighted portions and how can you use this information for trading(futures chart should be similar) ?