Incisive Nifty Trend Analysis

[surya.nifty]

IMHO, Nifty/any script doesn't follow anything. Infact all price action are randomn in nature. The technical indicators are to give us some entry/exit mechanism in trading. They mean nothing to Nifty. Infact there is no meaning to technical indicators. What matters is the Risk/Reward we keep while taking the trades. One EMA/timeframe works this month, another EMA/timeframe works next month . Thats the reason we keep saying ourselves there is no holygrail in trading

Consistency with one indicator (EMA/EW/RSI/Stoch/Pure price action) and maintaining RiskReward, its just matter of time, trading will give huge rewards :thumb:

Hi,

what is " Infact there is no meaning to technical indicators "

Risk/reward is a Money management technique and its different from TA which is a way of analysis of future price.

 

[toocool]

IMHO, Nifty/any script doesn't follow anything. Infact all price action are randomn in nature. The technical indicators are to give us some entry/exit mechanism in trading. They mean nothing to Nifty. Infact there is no meaning to technical indicators. What matters is the Risk/Reward we keep while taking the trades. One EMA/timeframe works this month, another EMA/timeframe works next month . Thats the reason we keep saying ourselves there is no holygrail in trading

Consistency with one indicator (EMA/EW/RSI/Stoch/Pure price action) and maintaining RiskReward, its just matter of time, trading will give huge rewards :thumb:

You are closer to reality than others

However human have hard wired talent to find patterns in randomness, looking forward to your more posts bro

 

[TracerBullet]

IMHO, Nifty/any script doesn't follow anything. Infact all price action are randomn in nature. The technical indicators are to give us some entry/exit mechanism in trading. They mean nothing to Nifty. Infact there is no meaning to technical indicators. What matters is the Risk/Reward we keep while taking the trades. One EMA/timeframe works this month, another EMA/timeframe works next month . Thats the reason we keep saying ourselves there is no holygrail in trading

Consistency with one indicator (EMA/EW/RSI/Stoch/Pure price action) and maintaining RiskReward, its just matter of time, trading will give huge rewards :thumb:

I think Price action At good SR areas are not random. Hit SLs of large no of people and they behave predictably. Easier said then done though ...

 

[jamit_05]

I think Price action At good SR areas are not random. Hit SLs of large no of people and they behave predictably. Easier said then done though ...

Add to it, the movement of a higher time frame and you have a favourable method of trading.

 

[gunsho]

Sorry Gunsho, to disagree with your views.
What I have experienced in last 2 months or so,
I believe, there exists some kind of 'holygrail'.

Yes, left for each one of us to discover on our own!

There is nothing to disagree, we all says same things in different ways. May be I should be clear more. I didn't say money can't be made if you read my statements (if thats what you mean by holygrail ). What I mean is, general people looking for system looks for something that works always and say that as 'holygrail'. SL hits / loss / drawdown are part of game.

Or to put it differently, the attitude of following consistently a system makes that a holygrail. The system can have edge in terms of high probable trades etc.., which will easily come if RR is good. Any technical indicator is fine on long run.

 

[gunsho]

Yourself you have agreed it is working...definitely market is moving based on some calculation, that is the unknown factor all we are searching..

Let us not ignore the Technical, which can be used as a value addition for our trade...

Hi,

what is " Infact there is no meaning to technical indicators "

Risk/reward is a Money management technique and its different from TA which is a way of analysis of future price.

I am not ignoring Technicals and I am not against Technicals I still trade using technicals. Most of us pretty much don't have much other options. What I mean is, those are just entry/exit mechanisms, and we have so many threads in TJ giving them. No matter what we try to do, market can change its view and our system also will change its stand. We just need to take them as it comes. Maintaining RR is a simple way to make sure we will make huge rewards on long run.

IMHO, MM plays major role in a successful trading career. TA can be used for entry/exit mechanism.

 

[gunsho]

You are closer to reality than others

However human have hard wired talent to find patterns in randomness, looking forward to your more posts bro

I think Price action At good SR areas are not random. Hit SLs of large no of people and they behave predictably. Easier said then done though ...

Agreed. Rare patterns / Failures at Higher timeframes swing points / major SRs provide high RR trades. Trading just them will be great on long run. Still probability of any trade outcome is 50/50. Most of the successful traders will say high probable place of entry etc. If you look close at their trades on those places, what is buried in there is their risk will be very small compared to where they book profits

 

[timepass]

NIFTY SPOT 10 Minutes

Click on the image to view chart.

 

[TracerBullet]

People like you exist so that real traders can make money. When you are bullish then SELL. When you Square off your longs then BUY. This strategy itself can make millions. :lol:

Nonsense, if it was that easy i would be one now. When did i give a view ?
Arrogance is good for trading i am sure . You assume too much.

Wave Theory from outside seems a lot of mumbo jumbo with vague language that fits in any kind of market in hindsight.

BUT i am newbie and have not read it. You are experienced, you know better.
10+ years experience in seeing charts should already give you some intuition, wave theory or not.
I rather start with what makes sense to me and what i can do right now.

Carry on, dont get offended by a joke ...

 

[TracerBullet]

never said I had ten years of experience I don't even have one year's experience. You are the one who is assuming.

Yes you said you need 10 years to be expert in eliott. i remembered what you said incorrectly. But it doesnt change what i said, experience or not.

You commented about me and my supposed trading without any basis and thats where the assumption is. But its true, without loosers there wont be winners.

Anyway, i dont want to spoil this nice thread by a stupid argument. Maybe this is not a place for a quick joke