Trading Strategies Using Technical Analysis

[SwingKing]

Dear Raunak Bhai,

So far I never gave any importance to the fundamental view and news.
Only after your words I have started giving importance to fundamental news also.
But to be honest I really don't know what each policy or news means and it's effects on the economy/Markets.

Even the other day when you posted some economic charts I couldn't understand a bit.

Request to start a separate thread focusing fundamentals.

TIA.

Best Regards,
JK

Jagan My dear,

I use to write about Fundamentals but somehow due to lack of time I could not complete the thread. In between in this thread I do write about fundamentals. Sometime ahead if I start getting some spare time, I will again start to post about it.

Tc

 

[SwingKing]

I understand that you're referring to the Banknifty. Is that correct?

BTW, have you read about Jesse Livermore?

P.S.: I believe that you've.

Itsmemad,

Yes I was referring to Bank Nifty.

Regarding Jesse Livemore, I think every trader has read about him and about many traders like him. But in reality, following their methods is not possible these days. Markets have changed a lot from what they were in late 1930's.

Anyways always good to read about great traders.

Tc

 

[dp33770]

Hi All,
For futures If I want to find out high volume scripts on what basis do i need to filter it out.
Is it based on No of Contracts or Open interest or somthing else ?

I want to filter it out to at least 100 stocks out of total 223 future stocks.
so that I can keep a track of 100 stocks for swing trading .

Regards,
Deep

 

[jagankris]

Hi All,
For futures If I want to find out high volume scripts on what basis do i need to filter it out.
Is it based on No of Contracts or Open interest or somthing else ?

I want to filter it out to at least 100 stocks out of total 223 future stocks.
so that I can keep a track of 100 stocks for swing trading .

Regards,
Deep

Dear Deep,

Keep track of few high beta high volatile stocks for swing trading.
ex.ICICIBANK, TATASTEEL, IBREALESTATE, DLF,TATAMOTORS,STER etc.

Regards,
JK

 

[JackPotter]

Itsmemad,

Yes I was referring to Bank Nifty.

Regarding Jesse Livemore, I think every trader has read about him and about many traders like him. But in reality, following their methods is not possible these days. Markets have changed a lot from what they were in late 1930's.

Anyways always good to read about great traders.

Tc

I read about him recently. It was mentioned that he believed that if a leading sector slides and doesn't recover, it may trigger bearish trend in other sectors too.

Your quoted statement (in my previous post) on Banking sector somehow resonated with that statement and coincided with what I was thinking about the market in general.

Methods might have changed, however, the thought-process remains the same.

 

[jagankris]

Friends,

Any Good BTST picks ?

TIA.

Best regards,
JK

 

[rrmhatre72]

Re: Swing Trading Nifty and Bank Nifty

Hi Sid,

It seems SL hit on banknifty today.

 

[gauharjk]

Raunak Sir,

Burnt my fingers again today doing intraday trading... The Asian markets were positive, European Futures were positive, last night Dow Jones was also positive. So, was hoping for a continuation of the rally today...

I thought the downtrend initially is just a ploy to shake off weak players. I kept averaging my positions at every dip...

And then, finally, there was no bounce back... :rofl:

Using gut feeling to trade is really a bad idea... I tell you...

I more than ever need a systematic way to enter and exit trades... Maybe SH315 or Bollingerbands... I don't know... :sigh:

 

[DanPickUp]

Raunak Sir,

Burnt my fingers again today doing intraday trading... The Asian markets were positive, European Futures were positive, last night Dow Jones was also positive. So, was hoping for a continuation of the rally today...

I thought the downtrend initially is just a ploy to shake off weak players. I kept averaging my positions at every dip...

And then, finally, there was no bounce back... :rofl:

Using gut feeling to trade is really a bad idea... I tell you...

I more than ever need a systematic way to enter and exit trades... Maybe SH315 or Bollingerbands... I don't know... :sigh:

Hi gauharjk

In my opinion, it is less the system you trade. You can trade what ever and any system, you try, will show you earlier or later its limitation under certain conditions. It is much more about that you follow your rules ( If you have any ) under any circumstances. You may explain once your trading plan and the forum members can help you to fine tune it.

But the most important aspect of all is your money management. Position sizing and managing the risk you take, compare to your trading account, is the key to prosperity in trading in the future. Here a wise comment from Jack Schwager in his book : Market wizards.

"There was not one particular method of analyzing the markets, nor one sole buy-sell strategy that could account for how these traders could be so prosperous. However, one common trait in their approach towards the markets was their ability to manage risk. Earlier during their careers some of them had, completely or almost, lost their trading capital. The one thing separating these future market wizards from other losers was their ability to learn from their mistakes by analyzing the risks they had taken, to develop and launch strategies for never letting themselves get stuck in the loss-trap again."

DanPickUp

 

[JackPotter]

Using gut feeling to trade is really a bad idea... I tell you...

I more than ever need a systematic way to enter and exit trades... Maybe SH315 or Bollingerbands... I don't know... :sigh:

As you know, I'm preparing a strategy for the Intraday trade. For time being I've stopped trading due to the lack of time during the market hours. However, I'm paper-trading with the strategy since last couple of days by analyzing the Intraday charts of various stocks.

I've to take care of couple of things to make this strategy successful on a regular basis. One of them is: "Selection of stocks." I can't just rely on the calls given by the pros on the forum. Sometimes they are not able to post everyday, sometimes they are on holidays. I'll have to develop an ingenious process for that.

I'm pretty close, but not there yet. We'll have one more systematic way to enter and exit trades soon. Gut feeling will be factored out. Less emotions, we live longer.