iCharts Discussions

amitkbaid1008 · Yellow Belt Joined: 04 Mar 2009 Posts: 540

5 Stock Market Trading Tips

Tip #1 - Create a plan and stick with it.

Tip #2 - Test your plan.

Tip #3 - Cut your losses and let your winners run.

Tip #4 - Know what you can afford to lose.

Tip #5 - Know your-self.

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

YOU don't matter, YOUR plan does not matter-what YOU plan does not matter.
What the MARKET plans and what it has been doing, is all that matters.

Do not try to outguess or predict the market. Only follow it.You may make small losses in the false moves but you will more than make up in the larger trends.

sherbaaz · Yellow Belt Joined: 27 May 2009 Posts: 543

Pradeep,
Sorry to say but you seem to be a guy who thinks I know everything and others are novice. Reading your reply make me think that either you have suffered /suffering huge losses or has everest attitude. Corret it brother.

Regards,
Sherbaaz

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

You are entitled to your opinion-but do not expect to put something very common in a public forum and expect applause.

I do not need to reply to you on your conclusions or speculation but I have been trading for 15 years.You can read my other posts also.

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

Correct your spelling first.

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

By the way I trade with price bar charts ONLY with no indicators or bands.

sherbaaz · Yellow Belt Joined: 27 May 2009 Posts: 543

Hi,
Dont want to write anymore about the great trader with more than 15 years of so called exp.
Regards,
Sherbaaz

hbanerji · White Belt Joined: 16 Apr 2009 Posts: 31

hi pradeep,
it's so interesting to read that you are using only bars and no other indicators. have you started your thread about your trading strategy?
you see, we novices are always confused with indicators and what not, and as we plod on, we also realise that it's a true master who can read just the bars and know what's in the offing.
it will do us a world of good if you kindly share your vast experience with us.

many thanks

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

Dear hbanerji

Indicators do not tell you anything you yourself cannot see.You do not need to use them;follow this link and see this video to know how to trade without indicators.
http://www.cciclub.com/marketvu/linda-raschke-breakouts.html
This is video by Linda Raschke known as the market wizard.You can also search for Joe Ross.I have attached his 'LAW OF CHARTS' .You can go to his website for other free material.If you pay you will get a lot more from Rasckhe and Ross.
Read and learn for yourself.Once you know some techniques do some paper trades or trade very tiny positions to see how the strategy works out.
Also be sure to learn money mangement-it is rare to find a good article even on the net so follow this link:
http://www.financialbroadcastingnetwork.com/financial-webinars-archives/futures-trading-quotes-education-4/
You will need to register but it is free. Remember nothing works 100% of the time so money management is important if you want to survive.Also trading requires lot of learning and practice,practice and more practice.

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

Dear hbanerji

Becoming a full-time trader is the dream of many. The problem is that it is very easy to be wiped out in the learning process. Some lucky people have the skills to make money from the stock market and keep it,knowing very little. This is because they are skilled at money management and taking risks. They know how to handle a risk.There are no magic systems in the stock market. If there were, every move would be very rapidly discounted. We know this is true because there are some of the sharpest minds in the world at work within the stock market. We have to assume that any easy way to trade the market would have been spotted a long time ago.
The stock market by its very nature is designed for you to lose money. The rallies and reactions within any trend ensure this process is at work constantly. It is created automatically. The market behaves this way because it has to! The weak have to perish so that the strong can survive. Professional traders are fully aware of the weaknesses in traders under stress and will capitalise on this at every opportunity.
Work hard and you will reap rewards more than you can ever imagine.

Warmest regards!

hbanerji · White Belt Joined: 16 Apr 2009 Posts: 31

hi pradeepgolfer,

thanks for the links. they are very informative. if you may once in a while and along the way, please remember to post to us more information/leads thereto.

warmest regards

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

Hbanerji,
Your welcome
I have posted some attachments on reverse divergences.

You can see that too.

Regards

pradeepgolfer · White Belt Joined: 16 Sep 2009 Posts: 212

Dear Hbanerji

My advice to you is to concentrate on chart stucture and chart facts and use indicators only for additional information.When using indicators you must avoid multicolinearity.To know what that is and for other Technical analysis education the best site is:
http://stockcharts.com/school/doku.php?id=chart_school

Before putting money at risk, paper trade any technique.Do NOT back test.Sachin Tendulkar can tell you the technique to bat but it is you who must practice practice and gain experience.Experience is the only thing by which you can learn what the market is capable of doing.
I am attaching "Steet Smarts" a book by Linda Raschke.I do not use her methods because the techniques are complicated and are rule based and my experience of 15 years enable me to judge market conditions.But, for a beginner, the rules will keep you out of trouble,which must always be your first objective. (PS. THE BOOK IS NOT ATTACHING:anyone who is interested in the book please post their e mail address in this tread.I will mail it to them)
Be prepared to work long and hard.It takes 5 years to become a pilot engineer or doctor.
I am not putting my actual trading strategy here for all to see.To be frank,I trade to make money and I operate the same as any business would.Coco Cola does not put it's formula in a forum and neither am I going to.But you (and anyone else) are welcome to come and watch me trade.This is because it appears there are some people who doubt my expertise and experience.I live in Hyderabad.
All the best :Wishing you all a Merry Christmas and a Profitable New Year!
Pradeep

rajanmadhavan · White Belt Joined: 20 Sep 2009 Posts: 40

Dear Mr.Predepgolfer I am admired your honest reply and posting. Before I am an investor and now I want to be a trader. Your posting are nice to read and very informative. The book you mentioned “street smarts” can you send it to my email address. My email address is "xxxxxx"
Thanks in advance for your support.

Regards
M.Rajan

hbanerji · White Belt Joined: 16 Apr 2009 Posts: 31

hi pradeepgolfer,

many thanks for the seasoned advice and more for the invitation to go and watch your trades. from what i've read in your posts, your premise seems to be radically different from whatever i know. so some day, i'll pick up on this invitation and drop by.

i hope you will kindly email the book to me. this is my email id: xxxxx