New bie want to learn technical analysis

#1
Hello all... i'm vinay from hyderabad. I'm 22 years old and just landed in my first job.. i have opened equity and commodity trading account with zerodha. and have made few trades purely based on speculation. i was write in few and wrong in many... but i did not loose more than 3000 rupees. now i want to learn technical analysis from the scratch. please tell me where to start and how should be my approach.. i want to stay in the markets forever. I dont want to trade based on speculations or news letters or any other's advise. i want to spot the chance myself and get profited from it. thats what i want. please provide the details .... I have good understanding of basic knowledge like difference b/w equity and commodity and margins and all the stuff. but i'm illiterate in terms of tech analysis. i want to learn. i will dedicate first 5 years to learning and will ensure that i loss minimum and learn maximum... only after 5 years i will expect from markets that to on technically right decisions. It will be very helpful if i get help from the seniors here.. i dont want to spend money on coaching classes. and one more thing my trading capital is 5000 rupees. i will never cross that limit as long as i master technical analysis.. and will always make it a point to put stop loss order thank you
 

niftytaurus

Well-Known Member
#2
Hello all... i'm vinay from hyderabad. I'm 22 years old and just landed in my first job.. i have opened equity and commodity trading account with zerodha. and have made few trades purely based on speculation. i was write in few and wrong in many... but i did not loose more than 3000 rupees. now i want to learn technical analysis from the scratch. please tell me where to start and how should be my approach.. i want to stay in the markets forever. I dont want to trade based on speculations or news letters or any other's advise. i want to spot the chance myself and get profited from it. thats what i want. please provide the details .... I have good understanding of basic knowledge like difference b/w equity and commodity and margins and all the stuff. but i'm illiterate in terms of tech analysis. i want to learn. i will dedicate first 5 years to learning and will ensure that i loss minimum and learn maximum... only after 5 years i will expect from markets that to on technically right decisions. It will be very helpful if i get help from the seniors here.. i dont want to spend money on coaching classes. and one more thing my trading capital is 5000 rupees. i will never cross that limit as long as i master technical analysis.. and will always make it a point to put stop loss order thank you
hi
Welcome to trading business
its good u want to learn..its really a good decision..5 year is enough time to learn..thats also god that you decided not to put money before learning...

there are so many good threads in this forum..u can go in TA section & choose...which intrest u most...with technical analysis,please learn Money mgt & trade Psychology also..as they are also as much important as TA.
with those threads ,you can go to investopedia..it has lot of good topics on trading & ta
all the best
 

akhill

Well-Known Member
#3
where to learn, what to learn, how to learn.... ??

All those apart, you have to learn proper money management with your capital. its easy to say.. 'loss minimum, learn maximum'.. but in reality it is different. So, start with right amount of capital... (I would advise 20 - 25K), start analyzing futures. Don't trade for real... Paper trade for 2 or 3 months. Find out what your technical understanding at that time is, later on take a decision for real trades, by then you would've experienced atleast some ups and downs in the market, and that will prepare you mentally for your real trades with 25K (assume).



As per me, starting with 5000 is not going to help you anyway. what good will you learn when you cant trade even a single lot of intraday... ?? just my 2 cents.
 

akhill

Well-Known Member
#4
Coming to TA,

www.stockcharts.com and investopedia are a couple of good places to start with. I would suggest stockcharts. Go through their definition of indicators, the examples and how to infer the market behavior from an indicator.

download CN from www.chartnexus.com

that gives you 3 years of BSE/NSE data with daily EOD updation, which should be good enough for you to start with. Learn about one indicator today, open chartnexus, apply that indicator on every scrip available.. (the more charts you look, the better you get).. see how the indicator is working in market.. donot right away jump into intraday market analysis .... first practice the indicator in weekly/monthly/daily charts ... change the parameters of the indicators and see if that makes any difference.

Add: Before moving to indicators, its best if you learn about line patterns, candle patterns. The line patterns are the guiding lights for your future TA.


alott 3 days for each indicator.. after a month, start clubbing two indicators.. i.e. try to understand the market with respect to couple of indicators as opposed to one. That should help you to narrow down the noise of the market... again, various combinations of parameters for those indicators... research.. research.. research.... look at charts every day.. atleast 3 to 4 hours after market. see what you can understand... to learn all main indicators, you will be spending the 3 months and in parallel do intraday or positional paper trades(as per you goals, capabilities).


lastly, if you pass this phase... and by end of 3 months you firmly think that "yeah.. now I can infer something from charts - right or wrong", then I'd say go ahead and start applying it for your real trades. Donot expect your capital to be intact.. if you can save your 25K for 3 to 6 months, i'd say you make a good trader. Remember this is less than 1% of your journey through technical analysis. understand that you cant swim the whole ocean.... find an edge for you over a period of time, stick to it with good MM and RR plan.... and hope that you blend into the market. All the best buddy.. let me know if you need some basic materials....

i dont want to spend money on coaching classes. and one more thing my trading capital is 5000 rupees. i will never cross that limit as long as i master technical analysis.. and will always make it a point to put stop loss order thank you
P.S: forget about mastering, if you want to learn technical analysis, you have to pay the price the market demands. either it be in coaching classes or softwares or books and more likely losses in the market.. one way or the other you have to pay it. bit harsh, but true. :) .
 
Last edited:

akhill

Well-Known Member
#6
Hi Akhil,

Could you please suggest or pass on the basic materials you spoke about in your post above?

Thanks a lot!





those stuff will be available every where over the internet, nevertheless if you need it from me, inbox ur mail id. Forum rules may not accept leaving ur mail id in open post.
 

radiosilk

Active Member
#7
Sorry, couldn't find out how to send you a Personal Message on this forum, neither do i have your email-id.

My id is radiosilk at gmail.

Asked for resources as you are experienced one. So you might be knowing what's effective for learning.

Once again, thanks.
 
#8
Evil smile u want to be in profit ? don;t trade intra day ( as you are beginner)
Trade with trend.
keep a stop loss
Never follow blue channel advice

read books like Reminiscences of a Stock Operator

understand how nifty future graphs work...
google whats does macd Rsi BB band means and whats use :)

Realistic graphs : http://www.bazaartrend.com/

Material u want to read online :-- http://www.jesse-livermore.com

Good luck
 
Last edited:

jagankris

Well-Known Member
#9
Hello all... i'm vinay from hyderabad. I'm 22 years old and just landed in my first job.. i have opened equity and commodity trading account with zerodha. and have made few trades purely based on speculation. i was write in few and wrong in many... but i did not loose more than 3000 rupees. now i want to learn technical analysis from the scratch. please tell me where to start and how should be my approach.. i want to stay in the markets forever. I dont want to trade based on speculations or news letters or any other's advise. i want to spot the chance myself and get profited from it. thats what i want. please provide the details .... I have good understanding of basic knowledge like difference b/w equity and commodity and margins and all the stuff. but i'm illiterate in terms of tech analysis. i want to learn. i will dedicate first 5 years to learning and will ensure that i loss minimum and learn maximum... only after 5 years i will expect from markets that to on technically right decisions. It will be very helpful if i get help from the seniors here.. i dont want to spend money on coaching classes. and one more thing my trading capital is 5000 rupees. i will never cross that limit as long as i master technical analysis.. and will always make it a point to put stop loss order thank you
Good luck Friend.

Have you played roulette - if no there are many free sites where you can.
Play roulette seriously Try to win and then tell what you feel about the game and outcome.
Share what was in your control and what was not.

One this is completed we will go to the next step.
 
#10
Technical analysis are important in trading so trader should focus on to improve their technical analysis by practicing more and more in demo account or by taking the guide from expert traders.
 

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