Friends talk on My daytrading

[bikashkumar11]

"All you need is one pattern to make a living!"
...Linda Bradford Raschke and Larry Connors

Charts do not move the markets. Markets move the markets."
...Larry Williams

"Your biggest enemy in trading is going to be a directional bias."
...Linda Bradford Raschke and Larry Connors

Rghav,
Good evening,
the quotes above needs your help to demystify the complete philosophy of trading for living. I am sure your scrabble on this will help everyone here in Traderji; for me I will be forever indebted. The third one in the above list is something which i fight everyday within. Anything on the above from you would be welcome. BTW "Inverse paranoid" the phrase is created after creating people like you. ("Inverse paranoid" is a belief system where everyone believes that everybody is helpful).
Thanks always
bikash

 

[rishiraj2]

Hello Raghav and all friends,

I'll be posting my paper trades based on the wonderful method taught by Raghav to improve my trades and confidence in trading...request raghav to correct these trades whenever he get's time.

Nifty 7th and 11th july:

Uploaded with ImageShack.us

Thanks

 

[rishiraj2]

Hi Raghav,

Posting today's Nifty chart...happy that i have improved on entry part with your concepts they are really helping a lottt but i am facing problem in where to keep stoploss/trail stoploss or where to exit...please help me how to overcome this problem as right entry but wrong exit spoils entire trade.

Sorry for asking too many questions...but want to learn your concepts thoroughly.

Thanks a Lott.

Nifty :-

Uploaded with ImageShack.us

 

[rishiraj2]

13th, 14th july:-

Uploaded with ImageShack.us

Uploaded with ImageShack.us

 

[Raghavacc]

Hello Raghav and all friends,

I'll be posting my paper trades based on the wonderful method taught by Raghav to improve my trades and confidence in trading...request raghav to correct these trades whenever he get's time.

Nifty 7th and 11th july:


Thanks

Hi Rishi,

Its very nice to see you doing that work and posting it here. Thats where most other traders fail. Either they are lazy to do the work and post it here or they are afraid to ask what they do not understand or they are down in enthusiasm when I do not reply for few days.Initially it seems you have the ability to come out of all the bottlenecks mentioned above and work towards becoming a successful trader.

Always remember one thing " On public forums both individuals , one who wants to share and the other who want to get shared need "Immense patience"

Here we are both sharing as well as getting shared. Hence we should do it with lot of patience.That will make real difference..

I would surely comment on the nice charts posted by you.

 

[Raghavacc]

Hello Raghav and all friends,

I'll be posting my paper trades based on the wonderful method taught by Raghav to improve my trades and confidence in trading...request raghav to correct these trades whenever he get's time.

Nifty 7th and 11th july:

Uploaded with ImageShack.us

Thanks

All of your entries have come at right time. Here you have to note one thing.

We let the price to open and then show some symptoms. We allow it to form either high or low of the day. Then we let the price to come back to that high of the day or low of the day respectively. If it takes out the high and sustains expect some good upmove. Vice versa for down move. This does not apply to a day when market makes vertical moves right from the start and that most of the time happens when market goes in to range for consecutive 1-2 days.

 

[Raghavacc]

Hi Raghav,

Posting today's Nifty chart...happy that i have improved on entry part with your concepts they are really helping a lottt but i am facing problem in where to keep stoploss/trail stoploss or where to exit...please help me how to overcome this problem as right entry but wrong exit spoils entire trade.

Sorry for asking too many questions...but want to learn your concepts thoroughly.

Thanks a Lott.

Nifty :-

Uploaded with ImageShack.us

This one was obvious.First a red bar ,a long one.Then after some time price tries to cross the high of that bar and fails. Thats a symptom.Now we have the high of the day in place.Then the entry you have made is perfect one. When price makes attempt to cross high of the day twice and makes a failed breakout invariably it generates a big trend in the opposite direction for the day and usually lasts till the end of the session.

Exit and trailing as I told earlier is an art . We learn by experience and developing a mindset of being in the trend till it exhausts.Whenever time permits we shall write more on this.For the time being just to help you innitiallly what you can do is trail your stops at the high of each of the "LONG RED BARS "preceding the tiny hammers or
In case you have multiple positions just exit partially on formation of each hammer.

You are definitely doing good in grasping

 

[Raghavacc]

13th, 14th july:-

Uploaded with ImageShack.us

Uploaded with ImageShack.us

14th July trades -----You are slighlty near to price action trades.I could see that from pivot break trades you are slightly getting in to price action trades.The difference between Pivot breaks and price action trades is price action gets in to trade early thereby giving you very less risk. Both of the styles have their own benefits. Here we are there to make a juice out of all the good techniques in the world.Isn't it?

This days trade... first you need to identify the trend. It was up ... up huge time..Hence Shorting is not advice able unless you see some major symptoms of reversal.Hence the way to go is add at every retracement.I have explained both longs and short on reversals in our original thread.

 

[molthi]

Congrats .
I like the setup.
Another setup which I like is that in 15 mt Long legged doji with comparatively higher volume ---trade the break out/dn .

 

[rishiraj2]

Hi Rishi,

Its very nice to see you doing that work and posting it here. Thats where most other traders fail. Either they are lazy to do the work and post it here or they are afraid to ask what they do not understand or they are down in enthusiasm when I do not reply for few days.Initially it seems you have the ability to come out of all the bottlenecks mentioned above and work towards becoming a successful trader.

Always remember one thing " On public forums both individuals , one who wants to share and the other who want to get shared need "Immense patience"

Here we are both sharing as well as getting shared. Hence we should do it with lot of patience.That will make real difference..

I would surely comment on the nice charts posted by you.

Hi Raghav...thanx a lot for your comments on every doubt that i raised and efforts that you are making to help learn your system....i feel lucky to be a part of this thread and have developed more confidence after ur comments on my chart.

Thanks