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PAKKA LTD: Daily BreakoutAnalysis for educational purposes only. I am not a registered analyst. A Higher High Higher Low structure on price action is considered as an uptrend. - In the daily chart, we see a breakout of previous Higher High. - Wait for Higher High retest and enter somewhere close to it. - Cannot expect a stock to test the exact same value. - Set SL as previous HL or in cases where there are other lows close by, choose the lowest one. - Calculate the possible loss assuming the stock hits SL - If you are OK with the calculated loss, enter. - Trail the SL at every new Higher Low. - Wait for breakdown of a Higher Low OR Target
NSE:PAKKALong
by srini_charts
3
LIC: Poised for a Breakout?Key Points: LIC is currently trading at ₹906, near its IPO price of ₹906. A breakout above ₹906 could signal a bullish move. A pullback to ₹728 could offer a good entry point for long positions. Technical Analysis: The stock is testing a key resistance level. A breakout would confirm a bullish trend reversal. Volume is increasing, indicating growing interest. The RSI is in the bullish zone, suggesting momentum is building. Strategy: Bullish: Buy LIC if it breaks above ₹906 with a stop-loss at ₹880. Target a move to ₹1050 and ₹1150 in the medium term. Neutral: Wait for a pullback to ₹728 to initiate a long position. Risk Management: Set a stop-loss to protect your capital. Monitor the stock's price action and adjust your strategy accordingly. Disclaimer: This idea is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
NSE:LICILong
by TRADING-NASA
3
Stock Selection Based on Relative StrengthHello, Here i will be talking about the process for picking up the stocks based upon the Relative Strength. As this is known to everyone but only few are getting benefitted by applying it in real trading. Most of the gains are made with the stocks having greater RSI. If RSI having > 75 those are the ones which create maximum wealth in Short time. Now, Question comes at what time frame it will apply and this depend upon the individual trading style. It works well on Daily, Weekly, and Monthly TF. The higher the timeframe the better the reward. This can be combined with the Price and Volume, It Can do wonder in your trading Journey. Screener for Stock Selection in Trading View:- - Go to Stock Screener Tab at bottom in the Tradingview. - Go to Filters - Symbol Type - Common Stock - Select New 52 Week High - Select Relative Strength Index (14) >=75 The above will filter out stocks on Daily Timeframe. You can add more filters according to your requirements and make your stock list more refine such as All Time High, New 6 Months high etc. and Make a list and look for opportunity. As i am a Price Sction trader i mix this with Price and Volume and ride the momentum. Few examples - Cupid, Glaxo You can try it and submit your feedback to me. Also, Tell me if you find something else which can be useful to the community. Together we can help eachother in Learing and excel in profession. Remember: I am a Price Action Trader and use Price and Volume together with different Timeframes, including RSI, and market conditions. To get best result always wait for confirmation. Focus on Risk Management and Position sizing. Treat trading like a business and it will pay you like a business…..!! Hope this post is helpful to community Thanks RastogiG
NSE:GLAXOEducation
by RastogiG
10
#nifty directions and levels for DEC 20th"Good morning, friends. Directions for December 20th: The global market sentiment is bullish, supported by the Dow Jones. and our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows +80. Nifty has a strong bullish structure, and Banknifty has a range market structure; both indicate different conditions. Therefore, we don't know exactly which one is going to dominate. However, we can follow one thing: if the market has a solid candle structure or consolidation followed by a gap-up, then we can expect the rally to continue. On the other hand, if the pullback reaches the immediate resistance with minor consolidation (without strength), then the range will likely continue."
NSE:NIFTY
by Manickamtraders
11
BTCUSD Analysis- Shakeout or Pullback🤷‍♂️In the monthly chart, on the left-hand side, it can be observed that 2017 highs acted as a strong resistance. But once this level was taken out, it started acting as a support in 2022. Holding the very basic idea that a resistance once taken out, start acting as a support. You would observe this concept several times on this chart. On the right-hand side, we can see a shift in structure from LL-LH to HL-HH formation near the above-mentioned levels (2017 highs). It was analyzed and explained in the following idea- The resistance area of 25200 was broken out in March2023 and later tested twice in June and September2023. We can see a range creation between 31200 and 25200. The 25200 resistance now acted as a support and the range broke out in October2023. It continued higher with a small area of consolidation in-between November, which finally broke out this month (December). Currently we are facing a pullback from near 44700 to 40132 on this chart. The volume was high during this pullback but there is no follow through. This is indicating that this pullback could be just a shakeout. ⚡I would discuss three scenarios here for different type of traders: -Overtly Bullish -Moderately bullish -Cautiously bullish 🚀Overtly Bullish- This is the most probable scenario at this point and is suitable for short term traders. Market will resume higher after the shakeout. There is a wholesale entry near 40000-40100 zone with stop below this zone. Targets could be 44500/48200 for short term. 🚀Moderately bullish- As per this scenario, we have stretched too far and expecting further pullback. This scenario is suitable for those who have intermediate term perspective. In this case 38000 (previous resistance) may act as support, so a bounce play could be an option from there. The stop would be below 38000 and target 44500 or higher. 🚀Cautiously bullish- This scenario is for those who are looking for longer term opportunities in the market. They would ignore entries near the higher prices and wait for deeper corrections. For them expect a break till 35000/33400 could be best where more buyers would show up in the October2023 breakout zone. Which category do you belong to? Write in the 💬section below. Do boost🚀the idea if you think it was informative. Regards. Disclaimer: The levels discussed are for educational purpose only and not a trading or investment advice.
INDEX:BTCUSDLong
by Bravetotrade
14
Understanding Options Trading Terminology: An In-Depth GuideUnderstanding Options Trading Terminology: An In-Depth Guide Embarking on the journey of options trading requires a solid grasp of key terms. Let's delve into the intricacies of these terms to equip you for successful trading. # Call Options (CE) and Put Options (PE) **Call Options (CE):** - When you buy a Call option (going Long), you're betting on the stock's upward movement. - Selling a Call option (going Short) means you're betting on the stock's downward movement. **Put Options (PE):** - Selling a Put option (going Short) is a bet on the stock's upward movement. - Buying a Put option (going Long) means you're betting on the stock's downward movement. # Expiration Date The expiration date is when the option owner must exercise their right to buy or sell the underlying asset. After this date, the option becomes worthless. Indian markets usually see monthly expiries on the last Thursday, though weekly or daily expiries exist. # Options Premium The options premium is the price paid by the buyer to the seller for the right to buy or sell the underlying asset. Influenced by market price, strike price, time until expiration, and asset volatility, it represents the cost of the option contract. *Example:* Buying a call option on Reliance Industries with a strike price of 2,200 INR and a premium of 50 INR means paying 50 INR per share for the right to buy Reliance Industries shares at 2,200 INR before expiration. # Lot Size Lot size refers to the number of contracts traded in a single order. For NIFTY 50 index options in India, the lot size is typically 50 contracts. Understanding lot size is crucial, impacting trading costs and potential profitability. # Strike Price The strike price is where the option buyer can buy or sell the underlying asset. In India, NIFTY index options often have strike prices set at regular intervals, like every 50 points. *Example:* If the NIFTY index is at 21,000, strike prices may include 20,950, 21,000, and 21,050. Buying a call option with a strike of 21,050 bets on the index rising above that level. # Spot Price The spot price is the current market price of the underlying asset. It's essential in determining the intrinsic value of an option, which is the difference between the spot price and the strike price. # Breakeven Points Breakeven points are critical for traders. Let's illustrate: - Selling a BN 6th Dec. 47400 CE (call option) with an expiry on 6th December. - If BN closes at 47400 on expiry, the contract is valued at 0. - If BN closes below 47400, it's valued at 0. - If BN closes at 47401, it's priced at 1, and so on. Understanding breakeven points is key to managing trades effectively. Armed with this terminology, you're better prepared to navigate the dynamic landscape of options trading. Stay tuned for more insights into mastering this exciting financial realm!"
BSE:SENSEXEducation
by iamrk7
3
ADORWELDVolatility Contraction Pattern is popularized by Mark Minervini, who is a two times US Investing Champion. Last year he won the championship with a record-beating 300+% in the year. He primarily uses VCP for his trading setups. It is a twist on the ascending triangle pattern with some variation. It has the following characteristics: The Stock must be in stage 2 uptrend. A period of price consolidation must take place in thebase. Price consolidation occurs after a stock has moved up in the price, the consolidation (or correction) is a constructive chart pattern that allows the stock to digest the bullish price movement. Price volatility must contract through the base (from left to right). During this period of price consolidation the stock price will correct. Price must correct through a series of smaller contractions. Each contraction should be tighter than the last, representing the absorption of more weak holders. Ideally this pattern has between2-4 contractions.
NSE:ADORWELDLong
by lokeshparihar
10
NIFTY SMALL CAP 100 Hello & welcome to this analysis on the index The index has had a dream run since April of this year. What lies ahead? Does it continue its outperformance or does it lose its shine and starts seeing profit booking? Currently at a resistance in higher time frame with support quite far. The Dec quarterly candle and the Jan monthly candle will give clarity for what is to come. One should avoid fresh aggression at current levels in it and set trail stop loss triggers based on risk appetite at this juncture. Happy Investing
NSE:CNXSMALLCAP
by Dinesh_C_Nagpal
3
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NYMEX:BF1!Education
by TradingView
7
Risk and Opportunity . . .Risk in simple term means possibility of unexpected outcome ie "Something happens as A Surprise..!". Surprises are positive as well as negative. Negative surprises are known as risk. However, positive surprises are opportunities So we must always speak our risk and opportunities at same time when discussing risk. We invest in risky assets for positive surprises, but we can not rule out occurrence of negative surprises. So, how can individual investor deal with this situation? To deal with risk we need to understand " what can possibly happen to our portfolio/investment? ". Some of outcome of risk can be a. Temporary decrease in value of portfolio. b. Not able to sell (liquidate) portfolio when needed. c. Delayed return on portfolio. d. Total loss of capital. e. Returns lower than expectation(inflation) Once this is known, we can take relevant actions to deal with these outcome. Actions are of two types: 1. Action taken before surprise has happened. These may be one of many of following - Limiting amount to 5% in any of the stock - Diversification of portfolio among debt/equity/gold/Real estate - buying put option against our long position - buying medical insurance to avoid untimely selling of portfolio in case of medical emergency - invest in income generating asset (rental / high dividend yield stock) 2. Action taken when the surprise event has occurred. Such as - Booking minor loss at SL to avoid higher losses on wrong decision - Rebalancing portfolio allocation when there is major down/up movement in one of asset class We need to understand and accept that: we can not know how much return will be made on equity/risky investment, also we do not know when this return will come. Chart I have put here is of 4 very robust investible instruments. This shows how multiple robust assets behave over longer periods. By rebalancing among such diversified instruments in portfolio can help generate returns while mitigating risk and taking advantage of opportunities. Hope after reading this post you will have better insight on risk.
NSE:NIFTYEducation
by yndesai
4
Mastering Trade Setup with simplicity of dow theorySimplifying Trade Strategies with Dow Theory Wisdom Welcome to the world of trading, where the Dow Theory can be your trusty guide. Let's break down an easy trade strategy that suits different market situations. Dow Theory Insights Dow Theory, a key tool in technical analysis, says understanding trends is crucial. Figuring out the trend is where we start, setting the stage for smart trade decisions. Bullish View If we're feeling positive Higher Lows: Check if prices keep going up. Near Support: Make sure prices are close to a support zone. Reversal Signs: Look for any candle patterns signaling a turnaround. Buying Setup: Stoploss: Think of it like a safety net, set it at the recent lowest point. Execute a buy trade when these factors line up, always keeping an eye on that stoploss. Bearish View If we're feeling negative Lower Highs: Check if prices keep going down. Near Resistance: Make sure prices are close to a resistance zone. Reversal Hints: Look for any candle patterns signaling a potential shift. Selling Setup: Stoploss: Your safety measure, set it at the recent highest point. Execute a sell trade when these conditions come together, always mindful of that stoploss. Sideways View For a market that's just hanging out Draw Lines: Sketch lines above and below the current prices (Support and Resistence Trendlines) Be Patient: Hang tight until prices break above or below those lines. Only jump into a trade when the market decides where it's going. In the lively world of trading, Dow Theory keeps us wise. By using these strategies, along with clever stoploss placements, you can navigate the markets with ease This post is for educational purposes only. Trading involves risk, and past performance is not indicative of future results. Always do your research and consider consulting a financial advisor before making any investment decisions. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:NIFTYEducation
by RK_Chaarts
25
IDFC LTD: DIWALI PICK 2023 Stock is forming higher highs and higher lows which is he basic definition of an uptrend and has given a breakout of 15 years of range in an impulsive manner. The impulse unfolding will have a five structure of which 'Third-wave' is still unfolding. As we already know that Third waves are the wonder to behold, the Stock has a potential to reach 220-240 in the coming 1-2 years. On the downside major support is at 75. Only a sustained closing below 75 will force us for the re-assessment the idea. Until then we are aggressively bullish on the stock for 220-240 zone and beyond that in the coming years. Happy Diwali #Diwali2023
ILong
by TradingSutra
9
Mastering the Art of Diamond Pattern Trading in Crypto and StockWhat is a Diamond Pattern? The diamond pattern is a unique formation characterized by two converging trend lines, creating a pattern that resembles a diamond or kite. Within this pattern, price movements oscillate, presenting traders with an opportunity to make informed decisions. However, to successfully navigate the diamond pattern, you need to understand its nuances and follow a disciplined trading strategy. Trading the Diamond Pattern: A Step-by-Step Approach 1. Identifying the Pattern The first step in diamond pattern trading is identifying the pattern on the price chart. Pay close attention to two converging trend lines between which prices fluctuate. This visual cue is crucial for decision-making. 2. Determining the Trend Direction Once you've identified the diamond pattern, the next step is to determine the direction of the trend. The diamond pattern's context within the existing trend is essential: If the diamond pattern forms during an uptrend, it is considered a bearish pattern. This suggests a potential reversal. If it forms during a downtrend, it indicates a bullish reversal pattern. 3. Opening the Trade After determining the trend direction, wait for a breakout from the diamond pattern to confirm your trade's direction. Your actions will differ depending on the type of pattern: For a bearish reversal pattern, open a short trade as soon as the price breaks below the lower trend line. For a bullish reversal pattern, open a long trade when the price breaks above the upper trend line. 4. Setting a Stop Loss To limit potential losses, it's essential to set a stop loss order. For a long trade, place your stop loss just below the low of the breakout candle. For a short trade, position your stop loss just above the high of the breakout candle. This ensures that you are protected if the trade goes against your expectations. 5. Setting the Target Determining the target for a diamond pattern trade is critical for managing your risk-reward ratio. The target can be calculated by measuring the height of the diamond pattern, from the highest to the lowest point, and adding this distance to the breakout point. Remember, the target can be adjusted to align with your risk tolerance and trading style. 6. Managing the Trade As the trade unfolds, closely monitor price action and adjust your stop loss and take profit orders accordingly. If the trade is moving in your favor, consider taking partial profits or tightening your stop loss to lock in gains. 7. Avoiding False Breakouts Diamond patterns are susceptible to false breakouts, where the price briefly exits the pattern but then quickly retraces. To minimize this risk, wait for the price to close outside the pattern before entering the trade. This extra confirmation can significantly improve your success rate. 8. Trading with Proper Risk Management Just like any trading strategy, risk management is paramount. Only risk a small percentage of your trading account on each trade, and never invest more than you can afford to lose. Always use stop loss orders to protect your capital. Additional Tips for Trading the Diamond Pattern - Confirm with Other Indicators While the diamond pattern can be a reliable signal, it's wise to confirm it with other technical indicators, such as moving averages, momentum indicators, or volume indicators. Seek additional signals that support the breakout direction. - Pay Attention to Multiple Time Frames To enhance your trade's probability of success, look for the diamond pattern on various time frames, including daily, weekly, and monthly charts. Trade only when it aligns with the larger trend, increasing your chances of a winning trade. - Be Patient Diamond patterns take time to develop fully. Rushing into a trade before the pattern matures can lead to false breakouts and unnecessary losses. Exercise patience and wait for the pattern to confirm before making your move. - Practice with a Demo Account Before risking real capital, practice trading the diamond pattern on a demo account. This allows you to refine your strategy, identify optimal entry and exit points, and gain confidence in your trading plan. In conclusion, mastering the diamond pattern in your trading strategy requires a combination of technical analysis skills, a disciplined approach, and a commitment to risk management. The diamond pattern can offer valuable insights into potential trend reversals or continuations, but successful trading relies on careful observation and strategic execution. Follow us for More Quality Analysis. Must Like and Share if it is really helpful. Thank you
Education
by CryptoPatel
2
TradingView Masterclass: How To Use The Top ToolbarIn this guide, you’ll learn about all the different tools that are available to you on the chart. Specifically, we’ll be looking at the toolbars that are located at the top, bottom, left and right of the chart: To summarize the chart above, the breakdown looks like this: ■ Top toolbar: Chart tools ■ Left-side toolbar: Drawing tools ■ Right-side toolbar: Community tools ■ Bottom toolbar: Advanced tools Now, let’s dive into each one starting with the top toolbar where you’ll find many of the most important chart tools for all your research needs. Keep in mind that we’ve ordered each item below as if we are moving from the furthest point at the top left to the furthest point to the top right. Let’s begin! ⦿ Symbol Search (Keyboard shortcut: type the ticker) - Open the symbol search at the top left-hand corner to access over 100,000 global assets across equities, forex, crypto, futures, and more. - You can find them by their ticker (e.g., type RELIANCE for Reliance Industries) or by their description names (e.g., type the name Central to find CENTRALBK stock). It’s also possible to find your favorite symbols with partial searches, that is, to write part of the ticker or description name and then select the corresponding asset in the search results. If you want to filter by asset type, you can select one of the following: Stocks, Funds, Futures, Forex, Crypto, Indices, Bonds and Economy (economic indicators). ⦿ Time Intervals (Keyboard shortcut: press ,) - Select the time interval for the chart. For instance, say you’re looking at a candlestick chart and you choose a daily chart. That means each trading day will be represented by 1 candle. - The most common time intervals are: 1m, 5m, 30m (intraday setups) 1h, 4h (swing trading setups) and 1D, 1W and 1M (long-term trading setups). - Traders can create custom intervals as well by clicking on the Time Interval arrow and then selecting the specific parameters needed. Don’t forget to add it to your favorites if you want it to be featured in the Quick Access toolbar. ⦿ Chart types - We have more than 15 chart types available to analyze all price movements, including the new HLC area, Line with markers and Step line. - Most traders prefer to use Bars, Candles and Area charts, but everyone has a different approach to markets. Be sure to find the chart type that fits your style. ⦿ Indicators, Strategies, and Metrics (Keyboard shortcut: press /) - Indicators, Strategies, and Metrics are designed to provide additional insight and information that may otherwise be difficult to see. - We have over 200 technical and financial indicators while also supporting over 100,000 custom scripts coded by our community. The best way to get started here is to start exploring the Indicators, Strategies, and Metrics menu as soon as possible. ⦿ Indicator Templates Here, you can save your custom indicator setups so that you can load them at any point in time. This tool is essential if you utilize different forms of analysis. For example, if you chart technicals and fundamentals, you can make two separate templates that can be loaded at any point depending on your need. ⦿ Alert (Keyboard shortcut: Alt + A) Alerts are used to create custom price alerts. Instead of watching markets 24/7, go ahead and create an alert at a precise level and then wait for that alert to trigger. Let our alerts do the heavy lifting. They’re always watching markets for you. It is also possible to configure them different notifications so that you can be alerted through email, our free app or with a webhook. ⦿ Bar Replay Bar Replay is a powerful, yet simple tool for backtesting. All experience levels can use Bar Replay for backtesting, practicing or learning about price history. To get started, click the Bar Replay button and then select a historical moment to rewind the chart backward to that point in time. Then, you can press play or pause, and retrade that moment to see how your strategy performs. ⦿ Undo/Redo Scroll (Keyboard shortcut: Ctrl + Z / Ctrl + Y) Any changes made to the charts such as drawings or indicators can be deleted or recreated. This works just like a Word document you might create on Microsoft or Google. Use the keyboard shortcuts to quickly undo or redo specific actions. ⦿ Multi-chart Layout If you have an Essential, Plus, Premium, or Ultimate plan, you can analyze multiple charts on your screen at the same time. Simply choose one of the available layouts from the menu to get started. You can also synchronize symbols, intervals, crosshairs, time and data ranges with the selected layout. ⦿ Manage Layouts Create, rename and load all the layouts that you save. You can also share your layout and enable the autosave option, which is very handy so that all of your work is saved automatically. Managing your layouts is an essential part of your analytical process because it enables multiple different chart layouts to be accessed as quickly and easily as possible. ⦿ Quick Search Need to find a function or tool on your chart? Open and use Quick Search to do that. The name of the tool is just as it can be used: quickly search for the things you need to edit, add or remove on your chart, and do it in a flash. ⦿ Chart Settings This is where you can customize all of the fine details about your chart. The Chart Settings menu has everything from the chart color, to the gridlines and labels, the text of the scales, and more. ⦿ Fullscreen Mode (Shift + F) When this is enabled, you will see only the chart. To exit Full screen mode, click ‘Esc’. ⦿ Snapshot and Publish Here you can download your charts as images, copy links, share tweets, publish ideas, create live streaming video content, and comment on assets with our latest feature Minds. If you want to share your expert analysis or get feedback from others, you’ll surely want to learn how these social tools work. Go ahead and give it a try - join our community of traders. Thanks for reading and we hope this post helps all traders and investors. Whether you’re an experienced professional or someone just getting started, we plan to create more guides like this to ensure you know how to maximize the features on our platform. Next week, we’ll share part two of this series, and cover the drawing tools menu on the left-side of the chart. - Team TradingView Be sure to follow us on Instagram , YouTube , and Telegram for more valuable content! 💘
NSE:CNXSMALLCAPEducation
by TradingView
18
Technical Analysis with Elliott Wave InsightToday, we're exploring Ward Wizard Innovations & Mobility Ltd., an Indian electric vehicle manufacturer, with an intriguing twist of Elliott Wave theory for market insights. Before we dive into the waves, here's some background: Ward Wizard Innovations & Mobility Limited is a publicly-held electric vehicle manufacturing company based in India. It's dedicated to producing eco-friendly electric scooters and vehicles. Not just in India, but its impact extends to countries like Uganda and Nepal. Now, back to the chart and Elliott waves: Recently, the stock witnessed a substantial decline from January 2022 to July 2023, followed by a period of consolidation. Going back to its origins in May 2015 up to July 2021, we identify a significant wave ((1)), marking a robust upward trend. This was followed by wave ((2)), an Expanded Flat correction (A)-(B)-(C) in blue. Wave ((2)) concluded near 161.8% of wave (A) as wave (C) of ((2)). Now, the exciting part: The best possibility is that we're currently experiencing a significant wave ((3)), known for bringing about robust upward momentum. This wave holds the potential to surpass previous all-time highs. Elliott Wave theory is a captivating tool, helping us understand market psychology and forecast future price movements based on wave patterns. Remember, there's a crucial detail: We've set an invalidation level at 33.20, representing the low of July 2023. If prices drop below this level, it might indicate a different wave scenario. Conclusion: Our analysis hints at the potential for a strong bullish wave ((3)). Markets are full of surprises, and risk management is your best companion on this journey. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
BSE:WARDINMOBILong
by RK_Chaarts
25
Follow Discipline- Be a Better TraderHi traders, It's been a while since I have written something on trading psychology. So, here is small writeup that may help some traders in conquering their endeavors. I won't and I can't discuss all the psychological aspects but would like to throw some light upon a few important ones. You must have heard a lot about What-nots of trading- Do not fear; Don't be greedy; Don't lose your edge; Don't lose patience but there is little on What-should be done to avoid these limitations. As per my experience, there are two paths that lead to same destination (trading success). Path1 is hit and trial method. I am sure most traders follow this path and suffer. It could be due to lack of awareness or knowledge of the stock market. This ignorance leads to greed >> losses >> fear. Eventually, ignorance develops indiscipline habits if you are not following the cautious approach and learning. Majority of traders fail to understand the need to learn before they lose their entire capital. Some of them strive to learn and improve slowly. The latter has good chances to reach their destination but there is no certainty. On Path2, traders seek help from other. They know that they do not have enough knowledge about the markets and there is someone else who has better knowledge and that someone may help in making the former profitable. Unfortunately, most of the so called knowledgeable are involved in fraudulent activities and it's difficult to filter out good one. Fake Ids, fake PnL screen shots and edited videos are a common practice on social media. There are only a few genuine people and those who are able to find those good mentors or guides are just lucky. Having a good mentor or knowledge is just primary, the real journey begins after that. Earlier you were fighting with someone else in the stock market but now with all the knowledge that you have, you are fighting with youself. You just realize that the real limitations are within oneself and hence psychological in nature. I won't delve into those limitations as you all must have read about them at one point or the other. However, I would like to briefly discuss a few solutions to them. 🚀You must have an edge that works. When I say Edge, I mean a strategy or plan. A plan that works means a plan that may not work all the time but most or the time. It could also be a plan that works only 50% of time but with better risk to reward, at least 1:2. The best way is to find/devise such a strategy and backtest off market for its accuracy and intricacies. Basically, a strategy has three basic elements: Entry, Exit, Stoploss and Trailing stoploss. 🚀You must fix maximum loss per day or maximum number of losing trades per day or maximum profit per day. This is particularly for day traders. If you are in front of the screen all the time, there are higher chances of overtrading. So, you have to learn the habit of discipline yourself with a few trades only. By the end of day you will see that only a couple of trades would fit into your trading plan. If you take a large number of trades per day, you will surely gain nothing by the EoD. 🚀Also its important to book profits when available. You would often notice making good profit in your first trade, losing some part of it in the second, and then closing a third one in a loss. It needs to be realised that the first good trade was enough to call it a day. 🚀Try not to turn a trade in good profit into a losing trade. The problem occurs when you have say, 5000 unrealized profit and then it reduces to 3000. Now you want that 2000 back ignoring that you are still making 3000. This is where trailing stoploss works. Develop a habit of using this locking mechanism so that even if something goes wrong, you still realize gains in a winning trade. 🚀When your trailing stop is hit and stock still resumes in your predicted direction, "do not re-enter". Try to find a second trade later that fits your setup/strategy. 🚀After taking entry, it's important to fix your stoploss as per your strategy. Do not reverse your trade just because your stoploss is hit. This may lead to worst trades in most cases. 🚀Its not bad to buy something that is cheap. You can buy it if it fits into your strategy. Just keep your position within manageable loss limits. Although these points look simple, yet I am sure that in the beginning you won't be able to follow these few points religiously. It would need a lot of time to follow this discipline. The journey may be difficult but only a strong trading psychology will make you a better trader. Do boost and share your thoughs in the comment section.
NSE:NIFTYEducation
by Bravetotrade
10
What is Price Action ? Beginners Guide in Easy Steps NSE:NIFTY What is Price Action Really? When I started learning I was using a lot of indicators and crap but then I heard about Price action, its meaning is pretty vague and confusing after a lot of effort I get to know that the simplest things work best. Let's see a structured way to approach Price Action analysis. 1. Chart Reading Bar by Bar. Studying the Previous candle reflects a lot of important information on the market movement and future direction. 2. Reading the Context and the whole Structure. *The circles marked on the chart show the best location where certain candlestick formation offers good trading opportunities. *The reading chart in the overall structure helps to eliminate taking trades in the direction of exhausted trends. 3. Identifying Momentum Increase or decrease. 4. Adding Volume Confirmations. Volume is the better half of price and without volume analysis can be incomplete. These are some of the factors that start the price action analysis. By practice, one can look into the deeper significance of these factors and use them easily. I hope this has added some new value to your knowledge, if you like these educational ideas, Share your views and like. Will Upload the Next Part with more factors. Keep Learning, Happy Trading.
NSE:NIFTYEducation
by SANJAYPATIDAR_
18