Technical Trading Corner

primitivetrader

Well-Known Member
#16
knowledge:
dont trade markets, trade knowledge. now knowledge in trading is just like an ocean and those who try drinking ocean end up in frustration. one need to find one's pot(s) of water and keep mastering and sharping them.
following are the topics/subjects on which i focus learning and improving my trading knowledge.
  1. candlesticks- this is very close to my heart. as candlesticks are the first thing i got to know about trading and learned it.
  2. moving averages- most widely used indicator and very effective. even learning about one moving average is sufficient.
  3. floor pivots/camrilla- another thing which i came to know initially. now i keep them on my charts most of the time. not seen many people using/discussing them in forums.
  4. market profile- pretty complex topic with lack of good teachers/authors. but if one can simplify it, it gives strong support/resistance level for day trading. i dont like dalton work on mp as he has made it too complex.
  5. Fibonacci- simple and effective. there are many good books/courses one can look . keep
 
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primitivetrader

Well-Known Member
#17
1 minute time frame:
1 minute tf is the most imp tf at the open. one can get highest probability day trades in this time frame at the open as volatility is very high. there are couple of ways to 1 min tf game:
  1. take entry on 1 min tf and trail it on 3 minute tf
  2. take entry on 1 min tf and trail it there only.
imp thing is be very specific as what you are looking at on 1 minute tf as there is no time to think much. if entry is gone you cannot chase it. follow 1 min tf for 10-15 minutes only after that its miraaj.
 

primitivetrader

Well-Known Member
#18
trends:
trend changes first in lowest possible time frame (its a fact) and then it changes on successive higher time frames (inclusive of eod, weekly and monthly etc). tick is the lowest possible time frame.
normally we read in various books that we should use higher time frames and take entries on lower time frames. or trade in the direction of higher time frame trend. but trend changes first in lowest possible time frame. Wyckoff used to maintained point and figure charts of intraday to take trades from eod. still today in pure wyckoff method 1 or 5 minute time frame is used to plot point and figure chart for eod trading.
my trading approach/call it theory, is that we should also trade the current time frame from lower time frame trend (only day trading, dont know whether it works well on eod or not as dont trade or see those charts).
hopefully i will further share my this particularly day trading theory/approach.
 

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