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CNXMIDCAP trade ideas

CNXMIDCAP100-WILL HISTORY REPEAT ITSELFNote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:CNXMIDCAP
by SENSITRADE_T
1
Trader's Queries - Manual for trading - Part 5Query : How to over come losses and become a profitable trader? Answer : This is Part 5. If you are new, refer Part 1, 2 , 3 & 4 for better understanding. Step 10 : Develop an unbiased mindset. Why it is important? Let’s see how biases affect Person A’s trades. Example 1 : Confirmation bias. This happens when we believe what we want to see instead of the fact. Person A is having bullish view about the market and ignores all the bearish signs the market give him. He goes long even though the market shows the signs of weakness in uptrend. This type of bias gives loss. Example 2 : Recent bias. This happens because of the recent happenings which make us to forget the past completely. Person A had consistent profit for few days and he start to take all the trades with the expectation that it will give him profit only. Another example is once the market fall continuously for 2 or 3 days, 4th day most traders start their trade with the expectation that the market will fall that day too. Check whether your trades are influenced by your biased mind and start to see the real facts.
NSE:CNXMIDCAPEducation
by vanathi
29
Trader's Queries - Manual for trading - Part 4Query : How to over come losses and become a profitable trader? Answer : This is Part 4. If you are new, refer Part 1, 2 & 3 for better understanding. Step 9 : In the earlier stage of trading, every trader goes to the “victim state” of mindset often. Try to bring your mind out of it soon. What is the victim state of mindset? Example : Person A feels powerless during trading because of uncertainty of the share market. Person A's Interpretation : Only my stop loss get hit. Why it is me always? Why market turns against me whenever I take a trade? Why my strategy fails when I apply it in live market? These interpretations trigger the following emotions. Fear Worry Frustration Confusion Anger How to over come it? Person A should Improve his technical knowledge. Have to accept uncertainty is the certain state of share market. Improve his trader’s mindset. (To be continued...)
NSE:CNXMIDCAPEducation
by vanathi
23
Trader's Queries - Manual for trading - Part 3Query : How to over come losses and become a profitable trader? Answer : This is Part 3. I have attached the links for Part 1 & 2. If you are new, read those and then continue Part 3. Step 6 : Develop self awareness. Knowing what type of trading suits you give an edge in trading. Example Swing trade Intraday trade Momentum trade Break out trade Once you start gaining experience, your trading style start to change. Self awareness helps you to understand whether the change in trading style is good or not. As your knowledge evolves, your trading style also evolves. Step 7 : Align your personality with your mind and brain. “Trading in zone” happens when your personality is in alignment with your mind and brain. It needs a lot of training to reach that level. Step 8 : Check whether you are having “analysis paralysis”. In live market we get data from so many things like indicators, software etc. If the information/data is too much, then the brain goes to the overwhelming state and its function slows down. Whenever you are trying to change bad trading habits, if your new trading habit has too many data gathering points, then your brain will struggle to take decision and go to the old routine(bad trading habit). What to do to overcome it? Use less number of indicators. Keep your analysis simple. Keep your trading plan simple. Keep your thinking process simple. (To be continued...)
NSE:CNXMIDCAPEducation
by vanathi
33
Trader's Queries - Manual for trading - Part 2Query : How to over come losses and become a profitable trader? Answer can be written as a book. So I am posting it in parts. This is part 1. I have the link of part one below in case you missed it. Step 5 : Understand why you hesitate or unable to make any change related to your trading habits. Example : Person A knows he is gambling, but continue to do that. His reasoning for the behaviour is he thinks there are two outcomes. Scenario 1 : I will continue to lose money if I did not take any step. Scenario 2 : There is no guarantee that after taking efforts, I will start to make consistent money. Why to take any effort when there is no guarantee? Interpretation of scenario 1 : I will be in a familiar situation. I will be within my comfort zone. I feel safe with familiarity, even though I am getting loss. I am very passionate about trading(OH YEAH). Emotions for scenario 1 Getting used to the emotions mentioned in step 3. Starting to like the familiarity with the emotions mentioned in step 3. Getting pleasure as it is the starting stage of addiction towards gambling. Interpretation of scenario 2 I have to work hard to change my trading behaviours. I have to learn new things. I have to adapt new things. I have to develop flexibility. I have to accept change. Emotions for scenario 2 Uncertainty Uncomfortable Possibility of disappointment Unexpected outcome. Now the question is why people prefer to trade or gamble. Does it mean they don’t like their job? Everybody likes to get the feeling that they are in control. Even though they like their job, like the salary, it has its demand of completing the work in time, reporting to the superior and they get the feeling that they are compelled to do the job against their wish. Now in trading to whom you report to? Who is your boss in trading? Answer is “YOU”. Thats why YOU like trading. “YOU” means your “EGO”. (To be continued...)
NSE:CNXMIDCAPEducation
by vanathi
44
Trader's Queries - Manual for trading - Part 1Query : How to over come losses and become a profitable trader? Answer can be written as a book. So I am posting it in parts. Trading is a journey like life. You have to learn from each and everything happening to you and grow. Like life trading do not have any manual to give instructions about how to handle it. That is why people got struck in trading. Let us say “person A” was making consistent losses, or making capital zero more than once and get enrolled automatically in to the state of “feeling struck”. At some point every trader “feel struck”. Now the question is what to do next. When we feel struck we “over dramatize” things. We do not see the big picture. We get confused and feel there is no way of coming out of it. Step 1 : Accept the situation. Do not resist it. Do not create stories dwelling on it. Step 2 : Stop criticizing yourself or external circumstances like market movement, big players etc. Step 3 : Separate the facts, your interpretations about it and the corresponding emotions. Example : Person A lost money in trading today. Fact : Lost money Interpretation : I did not pre plan my trade as I did not have time. I did not have discipline. I did not understand market movement. I did not have enough technical knowledge. It was not my fault. I did not manage emotions during trading. These interpretations result in creating emotion like Guilt Fear Depression Anger Frustration Sadness Step 4 : Repeatedly worrying about the same situation would not help you. Consult with a person who is trading better than you, so that they can uplift you. (To be continued...)
NSE:CNXMIDCAPEducation
by vanathi
61
Nifty Mid cap 100 Good short candidate Nifty Midcap Index CMP around 20450 levels. Elliot wave Study :- Whole structure is in form of rising channel pattern, at the moment index is around resistance line of rising channel pattern. As per % terms if observed wave 1 = wave 5 (both the waves are of 27% ) Wave 3 is of approx 1.618% extension of wave 1 and wave 5. As per theory when wave 3 is extended wave,, wave 1 and wave 5 are equal. Wave 2 and wave 4 are also equal in terms of % ( both have given 9% correction) Smaller time frame Rising channel pattern also have resistance around 20500 to 20600 levels, Resistance of two rising channel structure confluence around same levels give strong indication of reversal. Impulse phase is on verge to mature around this levels.. if Corrective wave unfolds we might see good correction . RSI indicator :- RSI is overbought and is trading around long term resistance levels might see reversal from this levels, which would lead to cool off in index.
NSE:CNXMIDCAPShort
by RUDRA007