General Trading Chat

[Jai Mata Di]

Ohh 7.5 lacs ...its too big for me to think

No one can learn trading by paying big fee to professional traders.
Just think someone is willing to pay hefty amount to sachin/rahul/sourav so thay can make their child a successful cricketer. :rofl:

Trading is a mind game, just like a player psychology of a trader is developed by years of live practice with real money.

No learning is sufficient except self learning & building a trading psychology to save a quick fall like today. Even after learning all theory peple just freeze with their long trades when market fall very fast like today. Trading is not childs game, that can not be learn in trading school.

Many analysist talk before TV bcoz they can't able manage their trade.
Analysing a trade, telling current trend & support resistance is easy, but only trader can manage a trade when market changes direction very fast like today. Trading psychology, executing trades fast & emotion less is very difficult to achive.
Needless to say, not everyone can achieve it. No trading school can tought it.

Best Wishes & Happy Trading.
H.C.

 

[amitrandive]

Were there any early signs (in price action) of this fall in nifty? Am I missing something?

5 Min chart of Spot Nifty

 

[Smart_trade]

5 Upwaves in intra Nifty were completed very near the upper boundry of the channel (had posted this chart) . The rule is after 5th wave completion, 2-4 trendline has to be broken violantly...that TL was near 8400, it got broken really violantly.

Smart_trade

Note : I see Eliott only when it is very clear....else put it under the carpet.

 

[VJAY]

5 Upwaves in intra Nifty were completed very near the upper boundry of the channel. The rule is after 5th wave completion, 2-4 trendline has to be broken violantly...that TL was near 8400, it got broken really violantly.

Smart_trade

Note : I see Eliott only when it is very clear....else put it under the carpet.

ST da in which timrframe? is it the rule of EW?

 

[Smart_trade]

ST da in which timrframe? is it the rule of EW?

This rule is very important Eliott wave rule...any timeframe..the chart posted by me was 3 min chart...its 2-4 trendline was at 8400...if the break is not violant that means 5th is still not complete....but in this case it was violent.

ST

 

[Dax Devil]

No one can learn trading by paying big fee to professional traders.
Just think someone is willing to pay hefty amount to sachin/rahul/sourav so thay can make their child a successful cricketer. :rofl:

Trading is a mind game, just like a player psychology of a trader is developed by years of live practice with real money.

No learning is sufficient except self learning & building a trading psychology to save a quick fall like today. Even after learning all theory peple just freeze with their long trades when market fall very fast like today. Trading is not childs game, that can not be learn in trading school.

Many analysist talk before TV bcoz they can't able manage their trade.
Analysing a trade, telling current trend & support resistance is easy, but only trader can manage a trade when market changes direction very fast like today. Trading psychology, executing trades fast & emotion less is very difficult to achive.
Needless to say, not everyone can achieve it. No trading school can tought it.

Best Wishes & Happy Trading.
H.C.

That is all very well said but still it is bookish talk, no offense, friend. Fact of the matter is, People who lose don't concentrate, don't think, don't anticipate while trading. Three things, that separate the winners from losers in any field.

 

[Smart_trade]

This volatility is here to stay...we have to play very carefully with quick in and out...no holding loosing positions.

ST

 

[candle]

Some useful material that I found about EW. Request you to add the missing links plz.

 

[newuser_RK]

Was anyone able to catch the dowmove???

 

[Smart_trade]

Some useful material that I found about EW. Request you to add the missing links plz.

It is a very vast and deep subject....it is dangerous to play Eliott on preliminary knowledge....it will give false signals...but learn it for knowledge and some precise trades once competent in those waves.

ST