Few friends here asked me some questions. I took time to answer as important questions need right answers. gameofmoneys : How do you find out shares which are on the verge of breakout or reversal? Answer : Break out or reversal can be found by candlestick patterns, indicators, support and resistance levels. All these will work out if it goes along with the main index. Use longer time frames to confirm support and resistance. Trading using candlestick patterns is tricky, needs more experience. Example for candlestick pattern, my post "DivisLab - Inside bar". Mother candle's high low is the entry. Even though RSI showed bullish divergence short got triggered. Example for support, resistance is my post "Arvind facing strong resistance". resistance was broken with high volume implying the stock is strong. Entering short even though RSI shows weakness and channel was broken is a wrong entry. Akshay15 : shared wipro chart. When I posted about Wipro, Akshay shared his chart analysis, Wipro moved as per his analysis. itgool : Tatasteel flag pattern When I posted about Tatsteel, he mentioned Tatasteel will break upside and he was right. md.ysn2016 : lost my way in the path and incurred heavy losses. I want to learn some technicals. Answer : 1. After getting heavy loss when you want to trade again, prepare your mind set first. You have to oversome fear of loss. 2. To learn basic technicals refer chart school website. 3. Don't do intraday. 4. Concentrate on doing "One good trade". 5. What we read in book or internet is theory.Trading view gives us opportunity to read and write about technical analysis. Choose one trader whose writing you can understand. I have choosen Neetesh Jain. I read/study his posts and try to find similar charts. It improves my analsying capacity. 6. Don't try to learn everything at a time. Select one topic and after learning it well, move to next. rupambose32 : Books or internet sites to learn Dow theory. Google "Dow theory 6 tenets". You will get a lot of materials to study.Studying and understanding Dow theory is easy, applying it in chart takes some time. All of you have helped me to have a review about my trading. Thank you.
"For many, trading is a job. For few trading is life. I belong to second category. You have to decide what category you belong!"
Notes : Your comments and queries brightens my day as it makes me a better trader. Thank you! for sharing your views.
@venkaticr, do we need to subscribe? The above site is for online trading platform. I am unable to view the above theory and no posts from Neetesh Jain.
vanathi
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@venkaticr, Just read the Dow theory's 6 tenets there. No need to subscribe. When I post ideas related to Dow theory I will mention it in the title. You can learn from my posts.