Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
I just checked the afternoon posts. There were some charts by vikas, showing the channel, but nothing said about Downtrend.
Anyway, all of us say a lot about markets here. Sometimes correct and sometimes wrong.
I looked at the pattern & my comment is - EOD charts and chart patterns look very meaningful. Post mortem chart analysis is pointless. Be it any time frame, if you look at a closed chart, you can always find meaningful patterns. The more artistic the trader is, the more patterns he can find.
There is a sharp fall in the last hour of todays market. So the mind will read it as - Market is trading in a narrow range in last two days, and once it broke Down that narrow channel, market came down further.
But, had if market went up sharply in the last one hour, the traders mind will read it as - Market is trading in a narrow range in last two days, and took support at the channel range and went up.
And, Had if market dint move either way - the traders mind will read it as, the beauty of market is "Previous days high/low levels are so powerful tools " and market will always respect those levels.
I mean, be it any kind of Trending or Zig Zag movement, we will find a meaningful pattern in it on EOD.
And on EOD chart, our mind generally ignores to identify failed signals and picks up only successful patterns. Let us take the same chart posted by you and tell me if I am wrong in taking these trades:
1) You drew two green lines as channel of last 2 days. Today, The channel was broken at opening range itself. So I will take a short trade with SL of lower green line/bottom channel line. What happened ? My SL was hit.
2) After my SL in first trade, And now, since the price went back in to channel, I have taken long trade with SL of Lower green line. What happened next ? My SL is hit again.
Now EOD it looks as a fantastic signal of short trade. But practically I lost 2 trades on same channel.
And, even if I had taken a third trade by selling it, what is the guarantee that my stop wont be hit before it fell down ?
So these are the problems and I must tell you very frankly that it takes years of time to understand the problems and mistakes we are making. Forget about solutions.
Anyway, all of us say a lot about markets here. Sometimes correct and sometimes wrong.
I looked at the pattern & my comment is - EOD charts and chart patterns look very meaningful. Post mortem chart analysis is pointless. Be it any time frame, if you look at a closed chart, you can always find meaningful patterns. The more artistic the trader is, the more patterns he can find.
There is a sharp fall in the last hour of todays market. So the mind will read it as - Market is trading in a narrow range in last two days, and once it broke Down that narrow channel, market came down further.
But, had if market went up sharply in the last one hour, the traders mind will read it as - Market is trading in a narrow range in last two days, and took support at the channel range and went up.
And, Had if market dint move either way - the traders mind will read it as, the beauty of market is "Previous days high/low levels are so powerful tools " and market will always respect those levels.
I mean, be it any kind of Trending or Zig Zag movement, we will find a meaningful pattern in it on EOD.
And on EOD chart, our mind generally ignores to identify failed signals and picks up only successful patterns. Let us take the same chart posted by you and tell me if I am wrong in taking these trades:
1) You drew two green lines as channel of last 2 days. Today, The channel was broken at opening range itself. So I will take a short trade with SL of lower green line/bottom channel line. What happened ? My SL was hit.
2) After my SL in first trade, And now, since the price went back in to channel, I have taken long trade with SL of Lower green line. What happened next ? My SL is hit again.
Now EOD it looks as a fantastic signal of short trade. But practically I lost 2 trades on same channel.
And, even if I had taken a third trade by selling it, what is the guarantee that my stop wont be hit before it fell down ?
So these are the problems and I must tell you very frankly that it takes years of time to understand the problems and mistakes we are making. Forget about solutions.
This was the overnight situation in Dow Jones Index. Down by ... -2.38% so dont expect recover in Indian markets. This might be just the start of a much deeper correction..
ASIAN Markets that have opened are all RED
If you are long in the market, just exit on open .. and buy Puts/PE ... i.e. go short
seems like this trade tariffs issue is here to stay.. so might as well trade it and make money !!
View attachment 34878
This was the overnight situation in Dow Jones Index. Down by ... -2.38% so dont expect recover in Indian markets. This might be just the start of a much deeper correction..
ASIAN Markets that have opened are all RED
View attachment 34881
If you are long in the market, just exit on open .. and buy Puts/PE ... i.e. go short
seems like this trade tariffs issue is here to stay.. so might as well trade it and make money !!
This was the overnight situation in Dow Jones Index. Down by ... -2.38% so dont expect recover in Indian markets. This might be just the start of a much deeper correction..
ASIAN Markets that have opened are all RED
View attachment 34881
If you are long in the market, just exit on open .. and buy Puts/PE ... i.e. go short
seems like this trade tariffs issue is here to stay.. so might as well trade it and make money !!
Raj bhai, unlike us , you were going with the trend and bought puts daily, still not able to make much due to timing, as market only fell after you sold Puts most of these days. very hard to make money in these times . expensive options high vix.
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