trading futures on technical analysis with toocool

[toocool]

 

[toocool]

so the reason i was able to ride the major part of the trend was.

i didnt apply my mind .

yes because the the higher highs and higher low formation was evident , i became the kite which doesnt want to do anything but let the course of the wind to take over ,wherever it feels like ..................too philosophical ?

maybe but if you apply too much mind in the market , market will prove you wrong most of the times literally

also if you will apply your mind..........what will your trading system do? whats the use of trading system then ?

food for thought

 

[DSM]

Great post... Human mind is prone to too much analysis, and drawn to infer meaning and derive conclusions by reading too much into what is essentially noise. Obviously the market cannot move from A to B or B to A in a straight line, and so most of the time, there will be candlestick patterns that essentially mean nothing, (while in the range and seeing the charts in higher TF). This means, the key to trading well is to be able to sit tight and do nothing - just as you did.!! :thumb::thumb::thumb:: As somebody said - Trading is simple, but doing what's simple is not easy!!

so the reason i was able to ride the major part of the trend was.

i didnt apply my mind .

yes because the the higher highs and higher low formation was evident , i became the kite which doesnt want to do anything but let the course of the wind to take over ,wherever it feels like ..................too philosophical ?

maybe but if you apply too much mind in the market , market will prove you wrong most of the times literally

also if you will apply your mind..........what will your trading system do? whats the use of trading system then ?

food for thought

 

[toocool]

not a perfect cup and handle pattern but markets do not provide picture perfect patterns everytime

fact of the matter is that market has broken out from a multi year trading range of 6350 2250.and its going to be validated on quarterly closing as well on 31st march 2014 .

so after 8000 target next target will be 10100.

markets do not have to go in a straight line there , can do yo yo stuff , can hard retest the upper line of trading range 6350 multiple times but as long as it stays above 6000 ,everything is fine ................ and it should, no problem i believe irrespective of election results

 

[toocool]

last time we came after a rally and hit persistence Resistance for some weeks/months and broke out we rallied 1000 points straight ..........this time the base is bigger too so rally can stretch.

its not an exact comparison , there are no exact comparisons in the markets , its similarity based comparisons ,

we have gained some 600-700 points till now .................7200 doesnt seem far fetched before it stops

 

[toocool]

Medium and long term multibeggar for minimum 3 times returns

 

[toocool]

some people had doubts on the validity of my analysis on basis of fundamentals , but to clear that, technicals do apply equally/more good than fundamentals , the IDBI is in big range on yearly charts , no matter what the news is for it , it must be bought at decade long support at any cost if one needs to multiply money in medium/long term upto 3-6 times

 

[toocool]

 

[jamit_05]

On this thread, I have seen most of the charts and read attached analysis. Nice, I must say.

Clearly, nifty has crossed a strong resistance of 6400, but it is not quite an established breakout on the monthly chart, it is only in progress. Therefore, could you provide your opinion as to how much down side do you see in Nifty, if something wrong should happen and this breakout fails.

I think, quite simply, price should find support in the lower end of the horizontal channel (4500-5100 region). Bulls should be on HIGH RED ALERT below the RED LINE

 

[toocool]

ok i will give my opinion . but i do not understand why do you think markets will/should fall , what is wrong with the current rally?

i do not see anything wrong in current rally

i think you are timing the markets and thats what i do not intend to do , maybe my writings about markets and its direction makes an impression that i am predicting markets movements , but truly i am not , i am only repeating what markets is doing................and markets are going up and thats why i am bullish , i do not know how and when markets will fall , or consolidate , or do whatever...............because i have let myself gone lose , i am a follower of the markets not its predictor , the bull trend is going fine.............who am i to tell where it will stop?.......................markets has not given me any authority to do that............did it?

but the way you say markets has to fall ...........again and again, its like you are the market maker or something , which i am sure you are not(no offence)

and infact markets has fallen many times since 2007 , in 2007-2009 ...............2011..............but you were not there to catch it, so its not markets mistake that you didnt get stocks at your desired levels ................is market obliged to give you your desired levels again and again ?

tell me 1 good reason why markets should fall?

do not mix macro economic views or fundamentals into why markets should fall .....................charts do not work that ways , charts are to be seen independently irrespective of any freaking news in entire universe about anything .................you cannot tame this beast , you cannot tell what it should/would do ...............we are nothing , not even of the size of an atom in this Great markets .

its my pesonal view as an outsider seeing your behavior that you are trying to make some hybrid model of investing in markets .............TA+fundamentals .............i do not think it will work , fundamentals and TA are 2 different entities , fundamentals never justify a lot of moves in markets , its a well know fact and 100 years old .

markets first start its bull run and skeptics keep waiting for crashes ..............when it doesnt come they become buyers at higher levels , markets always , always ,always without exceptions start the bull market in very very bad states of economies ..................period