My daytrading

[rajeabc]

Few days back I went to a seminar just to see/hear what they have to say. they say that they have a system which they are already using and if you make use of that you will only win no loss.The system costs 60k.

Have you ever heard anything like "100% guarantee" in financial markets?

The logic is simple.As Mark Douglas says market can express itself in infinite number of ways means market behaves in "set of infinite combinations".

UP ,down, down,up,up,down,down,down,up,down,up..........................................................................................................infinity.

Please do keep me posted if any one has created a system which can catch all those combination's.

Lets toss up 2 coins. we can have these probabilities.

1. Coin 1 : H Coin2: H
2. Coin 1 : T Coin2: H
3. Coin 1 : H Coin 2: T
4. Coin 1 : T Coin 2: T

Now suppose If we toss up say 100 coins? 1000 coins? 10000 coins?100000 coins simultaneously?

Pls lets think over before we run behind that 100% guaranteed system.

Regards
Raghav

you will only win no loss.
May be they meant over all win no loss. (profit rather numbers of wins and loss) . I think it possible to be in profit you one follow a strategy and strict stoploss.

 

[columbus]

Re: daytrading

This is similar to the technique used in 'Forex Powerband Dominator'.

Anyways, you'd find it more profitable if you apply it on higher TF (1H or 4H) plus note the candlestick formation in the piercing.

I think 1H or 4H is too high, I never traded in FOREX.

 

[desifxtrader]

Re: daytrading

I think 1H or 4H is too high, I never traded in FOREX.

Hi columbus,

Actually, I didn't understand what you meant by 'too high'.
Please elaborate at your convenience.



** It okay if you've never traded Forex,, .... I see that you're day trading Nifty, ... If you're confident and trust yourself, I'd encourage you to explore Forex, ... understand that your skill as a good trader is portable.

 

[columbus]

Re: daytrading

Hi columbus,

Actually, I didn't understand what you meant by 'too high'.
Please elaborate at your convenience.



** It okay if you've never traded Forex,, .... I see that you're day trading Nifty, ... If you're confident and trust yourself, I'd encourage you to explore Forex, ... understand that your skill as a good trader is portable.

Hai desifxtrader,

Though I am not trading FOREX, I feel a time frame of 30 minutes or 45 minutes is quite sufficient .

 

[Raghavacc]

If one has a patience the trading is a matter of joy. Again and again I said its about simplicity. Still I say that.

Remember there is a big industry and vested interest built to make you feel that trading is about million dollar systems and its beyond the capacity of normal mind.

Just see below charts. I used only stochs and price action. You decide is there anything complicated? Is there any rocket science which a newbie can't understand?

I have been told in the beginning that I use very little information. Agreed. Our aim is to just make good trades and not focus on accumulating information!!.We leave the latter task to the people concerned. .


Nifty :

Exactly the same setup as explained by Raunak few days back.A small gap not big enough to spoil our indicators.then OB>5bars.Then watch lower lows in Stoch .Higher lows in Price. That action took place with low volume.It must be an accumulation .Let the Stoch come out of OS Zone.Break of trendline. Burst of volume. Very simple.

ICICI Bank.

Its a case of all extremes. We can see everything that a price can do in a day.

Price hold on to support. Then higher lows. OB>5bars. Then see what happens. A doji with Extreme volume.(Inside the vertical lines) Thats DISTRIBUTION. Wait till trendline breaks and short. Then at low of the day a hammer. Stoch makes+ve divergence. a heavy bullish candle breaks trendline. Ride till you feel enough.

So we have seen what is Accumulation and what is distribution.That is too in a single day.

Its so simple!!!

Regards
Raghav

 

[Raghavacc]

yes u r correct . if only win and no loss why they are asking 60k from u instead they can make billions instantly in the market .

Tendulkar is known for batting. Harsha Bhogle is for commentary then there are good firms producing quality bats and bowls. So every one is good at something. We cant tell Harsha bhogle to bat and bowl and send Tendulkar for commentary.

Like in Trading there are people who are just good in analysing,building systems respectively.

Then there are traders. Every one is made for one of the aspects. We are not going to debate what they must do. The discussion was on "Whatever they do they should do honestly.Business is not about making money by hooks or crooks by cheating society.

It may be beyond the topic of this thread. However all of us are highly responsible for a healthy society .Here "us" includes those businessman as well I was talking about.Thats the reason I raised this topic in non relevant context.

Regards
Raghav

 

[Raghavacc]

When we follow rules strictly one trade is enough to wipe out 5 losses.

I have put arrow marks ( Pls co - relate Stoch and BB ) where we had dead simple opportunities.Just 2 days gave 6 trades.

Assume that we take half (50%) of that.e:3 trades. Even then one will go back smiling by weekend.

This is very important.

more than 90% of reversals take place either in OB or OS .Next important place is high of the day and low of the day.

So key is to look for the entry in those places with BB giving go ahead signal.

It works and works always......

Regards
Raghav

 

[Raghavacc]

Re: daytrading

Hi columbus,

Actually, I didn't understand what you meant by 'too high'.
Please elaborate at your convenience.



** It okay if you've never traded Forex,, .... I see that you're day trading Nifty, ... If you're confident and trust yourself, I'd encourage you to explore Forex, ... understand that your skill as a good trader is portable.

Hi Desifx . You seem to be a seasoned player in Forex. Interested to know what timeframe you make use of for daytrading ( scalping) ?

As suggested by Columbus Minimum should be 15 Minutes considering that one is a scalper.

One senior FX trader in other forum said this. 1 tick chart is a real chart all others are conceptual.!!!. Its reality as well as fantasy depending on ones mindset.

Regards
Raghav

 

[Raghavacc]

For a disciplined trader suprise treats are common.....

Sheer Pivot play. R1. 814. Pivot -804 S1-794

Thats the reason I use Brokers level as well to enter and cover positions. If something works its worth continuing with it.I have put up lines just for understanding.I Dont put them on the chart in real time.

Regards
Raghav

 

[munnabhai208]

Dear Raghav..
Your charts and interpretation are very simple and helping learners like me very much in improving the trading.thank you sir ..pls keep continue the good job.