Road to 5400 again

[singhboy]

look this http://www.finviz.com/futures_charts.ashx?t=YM&p=m5
with new high in dow futs nifty made high 5299, then dow down, nifty 5270, dow futs took U turn, made new high, nifty broke 5299 n new high. Track this daily n see how nifty follow dow futs chart. Its fun to see this

 

[singhboy]

With V turn in DOW futs, NIFTY took V turn

 

[HULK]

Today & tomorrow is very important day for market it will decide the market next trend. As far as my knowledge the operator will definitely bring market down before the quarterly result out.

 

[kaushikbanerjee]

look this http://www.finviz.com/futures_charts.ashx?t=YM&p=m5
with new high in dow futs nifty made high 5299, then dow down, nifty 5270, dow futs took U turn, made new high, nifty broke 5299 n new high. Track this daily n see how nifty follow dow futs chart. Its fun to see this

Yes, nifty and other world indices also follow dow futures particularly nowadays it is following tick by tick.
But u can't trade after seeing dow futures moved up. U go to nifty and will see nifty also moved up with dow futures.

 

[singhboy]

Yes, nifty and other world indices also follow dow futures particularly nowadays it is following tick by tick.
But u can't trade after seeing dow futures moved up. U go to nifty and will see nifty also moved up with dow futures.

I agree, I tracked Nifty n Dow futs live charts for month. From 20 trading days of month, nifty followed dow futs tick by tick on 14 days approx. But its not true that one can trade nifty intraday accurately watching nifty charts alone. many times ( at least 50% times if not more) there will be buy signal on nifty, u buy, then suddenly dow futs change direction, ur sl hit. After few mints u get short signal, then again reverse happens. Only due to this reason I stopped trading nifty intraday n index stocks. If u will analyse deeply u will see that only index stocks follow Dow Futs or world mkts during mkt hours hence Nifty. Non index stocks dont seem to care abt Nifty n world. So u can trade them without worrying abt Dow futs. They can remain in red, while nifty would be up 2%. Or they will b flat or Up when nifty in deep red.

 

[kaushikbanerjee]

I agree, I tracked Nifty n Dow futs live charts for month. From 20 trading days of month, nifty followed dow futs tick by tick on 14 days approx. But its not true that one can trade nifty intraday accurately watching nifty charts alone. many times ( at least 50% times if not more) there will be buy signal on nifty, u buy, then suddenly dow futs change direction, ur sl hit. After few mints u get short signal, then again reverse happens. Only due to this reason I stopped trading nifty intraday n index stocks. If u will analyse deeply u will see that only index stocks follow Dow Futs or world mkts during mkt hours hence Nifty. Non index stocks dont seem to care abt Nifty n world. So u can trade them without worrying abt Dow futs. They can remain in red, while nifty would be up 2%. Or they will b flat or Up when nifty in deep red.

Intraday Trading is almost gambling based on Technical signals. No technical analysis gives accurate signals. One day u win and another day u loss. TA is respected as u go for longer time frame. Like use 10-20-30 day hourly charts, more better daily and weekly charts.
I'm comfortable taking long or short positions in Nifty but for a slightly longer time frame. When I get my technical signals in hourly & daily charts of Nifty and S&P 500 both.

 

[columbus]

Intraday Trading is almost gambling based on Technical signals. No technical analysis gives accurate signals. One day u win and another day u loss. TA is respected as u go for longer time frame. Like use 10-20-30 day hourly charts, more better daily and weekly charts.
I'm comfortable taking long or short positions in Nifty but for a slightly longer time frame. When I get my technical signals in hourly & daily charts of Nifty and S&P 500 both.

Hi Kaushik,

There is a clear cut demarcation between Gambling ,Scalping ,Trading and Investing.

Gambling: Does follow any technicals.Any body with/without formal education
can do this.

Scalpingart of Traders ,and happy with small gains.

Trading:Follow technicals and you will find them with latest gadgets like
Laptops and PCs.

Investing:Just like trading with longer horizon.

Often traders/investors never agree that the losses accumulated by
them is due to their GREED,simply they say they lost because stock
market is Gambling Den.

 

[singhboy]

Intraday Trading is almost gambling based on Technical signals. No technical analysis gives accurate signals. One day u win and another day u loss. TA is respected as u go for longer time frame. Like use 10-20-30 day hourly charts, more better daily and weekly charts.
I'm comfortable taking long or short positions in Nifty but for a slightly longer time frame. When I get my technical signals in hourly & daily charts of Nifty and S&P 500 both.

Longer Time frame I agree for Nifty, But trading stocks on Intra isnt gambling. If u leave some 30-35 big index stocks and low volume stocks then stock movement can b predicted with technical analysis on even 5 mint charts. Most important thing is pick stocks with 2 days range at least more than 6% i.e diffrence between the highest high n lowest low of 2 days more than 6%. Then technical analysis works much better than in flat kind of stocks

 

[kaushikbanerjee]

Hi Kaushik,

There is a clear cut demarcation between Gambling ,Scalping ,Trading and Investing.

Gambling: Does follow any technicals.Any body with/without formal education
can do this.

Scalpingart of Traders ,and happy with small gains.

Trading:Follow technicals and you will find them with latest gadgets like
Laptops and PCs.

Investing:Just like trading with longer horizon.

Often traders/investors never agree that the losses accumulated by
them is due to their GREED,simply they say they lost because stock
market is Gambling Den.

I agree with your definitions.
I don't consider stock market as gambling den at all. It is the best source of multiplying money.
I only think Intraday trading is more like gambling bcoz in spite of having enough knowledge in technicals and market dynamics and pure economics, there is every probability that u have to accept loss.
How many people really earn from intraday trading in a yearly basis?
Don't calculate the profits made from positions kept overnight.
Of course there are few but not many.
Anyway, no intention of hurting at all. I myself also trade intraday sometimes but don't consider it as a fool proof system. I can take back the word 'gambling'. No problem at all for that. Here I gathered and also shared many experiences and knowleges. I will not quarrel.
If u r a successful Intraday Trader hats off 2 u. After all, nothing is sweeter than making money.
I'm also happy with my way of trading. 100 points stop loss, 400 points target in Nifty.

 

[kaushikbanerjee]

Longer Time frame I agree for Nifty, But trading stocks on Intra isnt gambling. If u leave some 30-35 big index stocks and low volume stocks then stock movement can b predicted with technical analysis on even 5 mint charts. Most important thing is pick stocks with 2 days range at least more than 6% i.e diffrence between the highest high n lowest low of 2 days more than 6%. Then technical analysis works much better than in flat kind of stocks

I agree. Money can be made in low priced non-index scrips.
Most of these stocks have circuit filters also.
I only say the more time period u take for analysing charts, more clear signal u get.
I'm not against Technical Analysis but to me it is better to apply it in a longer time frame atleast 10-20 day hourly charts.