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How To Read MACAD - Lesson

BSE:FORCEMOT   FORCE MOTORS LTD.
206 23 12
This setup is a an example of how to read MACAD.

There should be confluence.

Price shot of up after the trend line was broken

There were multiple confulences indicating strong movement in the expected direction.

MA's in all the three MACAD were above the MACAD "0" Line.

There are lot of other factors related to MACAD which made this setup sucessful. Please let me know if you have any queries.

******For Educational purposes only****
Very good learning.
Which software you sied for back testing?
Besides MACD, RSI, what other indicators to include in evaluation of buy and sell of stock?
Reply
@dinsha,
I backtest on trading view. I have also used trade interceptor to test my strategies. Paper trade till you are profitable for atleast 6 months. Don't jump straight in the market. If you are profitable for 6 months in paper trading then that indicates you have a strategy and that strategy works. Then you might think of going live.

Keep trading journals. It is a must helps a lot. You can learn where you have made a mistake or what you are doing right

To select a stock go through fundamentals. For exact entry use technical analysis.

People say think out of the box. However, I say there is no box. You should have a broader view and you will have to understand cycles of the market.

Money moves from one sector to another. You have to understand where the money has moved and why.

I mostly use MACAD and RSI. However, I also refer to 50 100 and 200 SMA (shows me the trend). Read Volume as well. Keep your trading simple and charts clear. Try to read price action. Indicators helps too.

Do let me know if you have any questions
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How high it can g based on momentum and charts?
Reply
@dinsha,
Hi,
It is difficult to determine how high it can go. However, you will have to use the confluence of Support and resistance, Fib's and MACAD crossovers to set your targets and S\L's. You can set targets, 1,2,3rd Target... depends on your risk taking capability. Always give importance to Risk management and Risk Reward ratio.

We shouldn't be greedy. Let the price come to you (your setup) rather than you running behind the market. Patience is the key. Treat trading as a business
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please explain the salient features of macd in free time
thank you
Reply
imdbeststocktrader garikimukkuuday
@garikimukkuuday,

I will share the details as soon as possible.
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imdbeststocktrader garikimukkuuday
@garikimukkuuday,

I have PM the information to you. Please check your message inbox.
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Amazing idea imdbeststocktrader
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Thank you Vicky
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vickymadhav imdbeststocktrader
I will find such setups and will try to share it with you and will take your view.
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