Does our market really follow Technicality?

[DanPickUp]

With out reading too much in the thread:

Doe's TA really follow any market? Yes it has to do so. Who else should it follow?

Doe's any markets really follow TA? Why should it? Who is the boss?

Has TA any value to follow and bring into any trading decisions? Of course.

Has any trading decisions to be built up on the value of TA? No. Why should it be like that?

For those which are on a beginner level, read through the following link by ignoring the advertisement. You will get the point:

http://www.traderinterviews.com/content/TimeToBeRight.php

Good trading

DanPickUp

 

[jatin_the_great2003]

just have faith in God, and try your best with technical or fundamental analysis. YOU WILL SUCCEED FOR SURE!

Thanks for the kind words Bethel. :thumb:

 

[jatin_the_great2003]

With out reading too much in the thread:

Doe's TA really follow any market? Yes it has to do so. Who else should it follow?

Doe's any markets really follow TA? Why should it? Who is the boss?

Has TA any value to follow and bring into any trading decisions? Of course.

Has any trading decisions to be built up on the value of TA? No. Why should it be like that?

For those which are on a beginner level, read through the following link by ignoring the advertisement. You will get the point:

http://www.traderinterviews.com/content/TimeToBeRight.php

Good trading

DanPickUp

Now this is wat i say well explained facts. :thumb:

 

[jatin_the_great2003]

Hello Friends, need ur kind advice.

I am currently doing paper trading for intraday with following setup:

5 mins - 5 days candlestick chart with RSI 40,60. I look for divergence below/above the mentioned values.

Rule 1: For positive divergence, i go long above the high of last candle with TGT as immediate resistance and SL below last candle's low. (Last candle means when divergence occurs between candle 1 n 2, then no.2 is my last candle)

Rule 2 - For negative divergence, i go short below the low of last candle with with TGT as immediate support and SL above last candle's high.

Friends ur valuable feedback will really help me. Thanks in advance. :thumb:

 

[sachin928111]

I thi nk market follow technicals in the absense big news

 

[jahan]

Hello Friends, need ur kind advice.

I am currently doing paper trading for intraday with following setup:

5 mins - 5 days candlestick chart with RSI 40,60. I look for divergence below/above the mentioned values.

Rule 1: For positive divergence, i go long above the high of last candle with TGT as immediate resistance and SL below last candle's low. (Last candle means when divergence occurs between candle 1 n 2, then no.2 is my last candle)

Rule 2 - For negative divergence, i go short below the low of last candle with with TGT as immediate support and SL above last candle's high.

Friends ur valuable feedback will really help me. Thanks in advance.
Reply With Quote


hello,

jatin ur doing great ,my suggestion is that, instead of using in 5Min chart
use ur idea in 1hour or atleast 30 min chart ,my opinion is 5min is little bit noisy.
i really dont like paper trading, wat i suggest you is to go with small capital
let lets say 5-10k,in paper trading wats happens is, u second guess evertime, and adjust ur stoplosses/profit objectives and u never feel fear/greed/hesitation , in that ... again its my personnel opinion,do watever u like.

and i also dont belive in backtesting.....

but i do believe in Technical Analysis.

regards,
jahan.

 

[jatin_the_great2003]

hello,

jatin ur doing great ,my suggestion is that, instead of using in 5Min chart
use ur idea in 1hour or atleast 30 min chart ,my opinion is 5min is little bit noisy.
i really dont like paper trading, wat i suggest you is to go with small capital
let lets say 5-10k,in paper trading wats happens is, u second guess evertime, and adjust ur stoplosses/profit objectives and u never feel fear/greed/hesitation , in that ... again its my personnel opinion,do watever u like.

and i also dont belive in backtesting.....

but i do believe in Technical Analysis.

regards,
jahan.

Hello Jahan,

Thank u so much for ur valuable input/feeback. :thumb:

 

[MANISH_DAMANI]

Hi. Its good to see your interest in technical analysis. Initially fellow is right you should use bigger time frame like 1 hrs. But as I have read you are following RSI. but that will not give you good result instead of it follow these things- Macd, Moving Avg - 20-50 crossover it wil give you very good result in any market. See stochastic for over bought/over sold reason. Use also bolinger band because some time in overbought/sold zone rally continues that will help you to know that. Add ya better start with copper mini. Risk is very low. Add you cannot loose as commodity trade in range. If you trapped and have mtm then you will never loose. As 250 kgs just in Rs 5000-6000 in 1 lot.In ever 1 rs 250 is profit and loss. Open account with low brokerag firm. You can practice more time in commodities. Maximum upside down side in copper in month is rs 40-60 in general. So maximum mtm be 10000-15000 in 1 lot so that you never loose. In a day you can earn rs 500-1000 in mimi lot atleast. That will help you alot in understanding technicals. Take it as your fees to learn technicals. I assure you you will not loose your money even you are wrong. Because price get back to that level in short time on 1-2 month or befor it;.Benefit of trading in commodities-
1) you can trade from 10 am to 11:30/11:55 pm. No stt/ctt. Lots of money saved. Open account with broker having low brokerage so lots of cost saved there. You can trade commodites while watching free real time chart from few sites. like http://www.forexpros.com/commodities/copper-advanced-chart.Have a nice trading and happy diwali inadvance.

 

[jatin_the_great2003]

Hi. Its good to see your interest in technical analysis. Initially fellow is right you should use bigger time frame like 1 hrs. But as I have read you are following RSI. but that will not give you good result instead of it follow these things- Macd, Moving Avg - 20-50 crossover it wil give you very good result in any market. See stochastic for over bought/over sold reason. Use also bolinger band because some time in overbought/sold zone rally continues that will help you to know that. Add ya better start with copper mini. Risk is very low. Add you cannot loose as commodity trade in range. If you trapped and have mtm then you will never loose. As 250 kgs just in Rs 5000-6000 in 1 lot.In ever 1 rs 250 is profit and loss. Open account with low brokerag firm. You can practice more time in commodities. Maximum upside down side in copper in month is rs 40-60 in general. So maximum mtm be 10000-15000 in 1 lot so that you never loose. In a day you can earn rs 500-1000 in mimi lot atleast. That will help you alot in understanding technicals. Take it as your fees to learn technicals. I assure you you will not loose your money even you are wrong. Because price get back to that level in short time on 1-2 month or befor it;.Benefit of trading in commodities-
1) you can trade from 10 am to 11:30/11:55 pm. No stt/ctt. Lots of money saved. Open account with broker having low brokerage so lots of cost saved there. You can trade commodites while watching free real time chart from few sites. like http://www.forexpros.com/commodities/copper-advanced-chart.Have a nice trading and happy diwali inadvance.

Thanks a lot Manish. Your advice is really appreciable. :thumb:

 

[DanPickUp]

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