Charts for the Day

[amitrandive]

dEAR amitrandive

I am a SEEKER OF KNOWLEDGE but i hate CHAMCHAGIRI

I might have missed food but never missed trading in past 3 months . If you have anything technical , post it dont do DRAMA:annoyed:

your English is very good , may be u should try writing novels

I can understand your frustration at losses,but doesn't mean you should be annoyed and vent your anger and frustration at other members.

Check my thread" Learning to catch High probability trades" for more technical details and just try to cool down.

Suggest to read my thread "A Strong Trading mind " which will help stabilize and cool your super annoyed and frustrated mind.

If you can't find it ,see my signature.

And again sincerely request to stop cluttering AnilJi's thread with unnecessary issues and try to learn market basics.

If you have some free time other than your negativity,frustration and anger, you can dig this thread deep to find my technical discussions with Anilji.And maybe explore some other threads in the forum to upgrade your naive technical knowledge.

All of are passionate about trading I assume including you.Better to direct that passion in getting more knowledge,screen time experience and chart reading rather than cynicism and brooding over losses.

A small quote from my post in the other thread.

Focus your energy on the things that really matter! There will always be distractions that will keep you from achieving your goals. Do not give in to them. How have you increased your skills, knowledge, abilities, or income in the past 90 days? Do you really expect to be successful given how you are using the majority of your time, resources and skills?

Are you spending time with people who can enhance and enrich your life? What are you doing to take your life to the next level? Will your current efforts make the next 90 days even more successful than you just experienced? Be honest with your assessment. Do not play games with yourself. Remember ~ if you do not have an agenda for your life...you will be a part of someone else's agenda. You have something special. You have GREATNESS within you!

Les Brown

Last from me on this.

 

[VJAY]

dEAR amitrandive

I am a SEEKER OF KNOWLEDGE but i hate CHAMCHAGIRI

I might have missed food but never missed trading in past 3 months . If you have anything technical , post it dont do DRAMA:annoyed:

your English is very good , may be u should try writing novels

Dear andhracement,
A learner never be like this at least in trading
You without looking anything came to say am it as drama man! !!!.please go through his threads and posts then you surely regret for this saying. ...

 

[amitrandive]

So I believe you're implying that you don't so sector analysis for positional trades rather you prefer to check stock specific price action & MA while making investments.

I analyze sectors those index are readily available rest i track some sectors like cement,textiles,sugar whose index is not there...so you need to check the 4-5 leaders in these sectors, to see whats going on...

The reason I asked for sector specific analysis was bcoz I've seen that it's preferable to invest in sectors which are performing better than NSE index.

You invest in sectors which are relatively performing better with market index(Nifty/Nifty500). so you are using relative strength here. I also go for it. But you need to assess stock charts also, as for ex: when sugar started to rise in aug-sept-2015 their Relative strength vs Nifty was so poor...but as they started to rise only in movember when they breached 52-weeks high they started to list in top 90+ percentile ranking in my Nifty500 list...

I dont know how you measure which sector is better performing. But i will tell you let us take a simple performance vs nifty as a criteria to short list. then rank them. Top sectors will be which is performing relatively better to nifty. but if you see the stock charts in that sector, they had already moved a great already...so point is they already had good amount of runup. So you need to choose wisely here...I preferred these stocks also, but i also try to look for stocks which had just started to turned up. So they cant be having 90+ percentile ranking in your list, but they may be near 60-70 percentile ranking...thats fair enough...

Why its important to focus on this second category is, when sector rotation is done by institutions, and if its a swift one, we miss the good stocks, and they appear in our list only when they come in 90+ percentile in our universe.

So as you said... I can do sector analysis of 6-8 sectors I'm interested in and check which sector is performing better than NSE and then study & invest in the top 3-4 stocks of that sector.

What i am saying you study performance of all sectoral indices which are readily available. Do analysis wrt Nifty. But also study top 3-4 stocks from sectors whose indices are not there...so that you dont missed run up in these sectors..ex: cement, textiles, sugar...etc..

A nice link for studying sectors

http://www.moneycontrol.com/stocks/marketstats/sector_scan/main_sector/

Another for studying sub sectors.

http://www.moneycontrol.com/stocks/.../sub_sector/index.php?sel_ex=B&sel_period=mtd

 

[anil_s_trivedi]

Anil'ji,as i remember you also follow 20 & 100 EMA on your trades,still you prefer this EMAs ?

Dear Raviji,

Yes earlier i used 20-100 EMA's extensively...Frankly speaking if you are creating systematic trend following system only taking signals then you need to test different EMA's and SMA' combination...

But if you had some discretionary component while going for a trade, i mean i had habit of looking at chart before foraying into stock, so it matters little what ema's or sma' you use, as long as you believe your chart reading. As you know, i like to see bar range, how consolidation forming, volume so its not possible for me to take software signals directly, i need to see chart, for these readings from the chart.

So its ok, if use 20-100 ema's but you should know what setup you are looking for.There is no perfect answer which moving average to use...you need to use at your own discretion.

 

[anil_s_trivedi]

If any body here uses Metastock he will be able to test any kind of MA combination with the software. MA results will change from time to time as market conditions do change from time to time. So it is recommended to do those tests regularly based on time frames you choose. But you should follow this and even do it.

Dear Reyansh,

Yes backtesting is necessary if one is taking systematic system to use...but curve fitting should be avoided.

Better to take one bear cycle and one bull cycle minimum for backtesting. So that one can have idea of how system is performing in worst of times and good times...

 

[anil_s_trivedi]

Dear friends,

Please dont get into verbal abuse. Everyone is here for learning and earning. Learning from market never stops, better to direct your energy towards this point.

Amit is a good guy and i know very well the knowledge he carries. Go to his thread its extensive and readily available to fellow traders for help. Infact i told him once, its his thread i follow regularly for getting stock ideas posted by fellow members. As its suits my style of trading of swing stocks or trading stocks on intermediate timeframe.

I follow many thread in TJ, but choose to remain silent most of times, and if i had any doubt i ask thread owners directly.

Respect fellow traders/Humans in market/life everyone has different view point. Life is short live it good deeds...You never know what phase, emotions the other guy is going through in his personal life...dont be so rude...Respect others space...I am having an opinion that intraday trading is not for everyone, it doesnt mean its not profitable..so i go on arguing in every thread having intraday strategies based trading discussions...

I had choose what is best for me, you need to choose whats best for you...

 

[XRAY27]

First of all behave properly ,if you find any thread is not useful to your trading just leave it ,but don't open your frustration on other member, that will be of no use ,always remember that most traders who fail have large egos and can’t admit that they are wrong. Even those who are willing to admit that they are wrong early in their career can’t admit it later on! Also, some traders fail because they are too worried about losing.When you start being afraid to lose, you’re finished.

 

[rkripal]

First of all behave properly ,if you find any thread is not useful to your trading just leave it ,but don't open your frustration on other member, that will be of no use ,always remember that most traders who fail have large egos and can’t admit that they are wrong. Even those who are willing to admit that they are wrong early in their career can’t admit it later on! Also, some traders fail because they are too worried about losing.When you start being afraid to lose, you’re finished.

The reality curve you posted is much better than real reality

 

[XRAY27]

The reality curve you posted is much better than real reality

Reality curve is of a person who trades his system which is time tested with discipline ...

 

[rkripal]

Reality curve is of a person who trades his system which is time tested with discipline ...

that's what i am saying... this one is much straighter

sorry for useless chats on your thread Anilji.