iCharts Discussions

[vinst]

[rk_a2003]

[ajayhkaul]

don't just look at trading through a microscope.Expand your view and Constantly Devote Time and Effort to the Study of Market, Trading Techniques, and Economic History."

When all is said and done and all the technicals are in place, you should still pay attention to the fundamentals. By doing this you'll be Trading With Fuel on Your Side."

works for me !

Thanks RK for sharing.

[vinay28]

I wonder who is attempting to set intraday targets based on FA.

[rk_a2003]

"works for me !"

Glad to here that Ajay!

[rk_a2003]

Removed

[vinay28]

CAUTION: Kindly note that the contents of this article are “copyrighted”. General permission is granted to anyone only if they acknowledge the source as “this Article and the Author”. Ungrateful copycats are not welcome and will be proceeded against legally for violation of copyrights and intellectual property.

[SwingTrader]

rk_a2003,

Please remove the article if the author's website link needs to be posted. The link is not allowed here.

[rk_a2003]

Ok! ST

I thought since it's not a commercial website. It would not be a problem. However, I am deleting it.

[rk_a2003]

India and China declared their intention to continue oil trade with Iran, not yielding to the pressure tactics exerted by US. Now the issue became embarrassing for US and Israel. If they let this happen to continue more countries may follow the path.

Defiance and courage is also like a virus they may spread very fast. The initiation and sustainment is really difficult part which was completed by India and China. Of course China is known for it. Now India also joined, may be out of internal oil needs compulsions. You can read the Statements of India requesting US to understand the compulsions of Indian oil needs and view it sympathetically. It is really hard to find such statements from China. They are with self-respect.

Now US are in Fix.Let us wait and see what tactics it’s going to adapt to prolong petro dollar dominance. Yuan is fast rising to replace US $ (you may read the postings of Ajay reg. this).US successfully thwarted the challenge of Euro, till now able to keep down Gold and Silver with shorts in paper trades. What it is going to do with Chinese Yuan? .After all Chinese are hard nuts to crack, they don’t care for anything other than their national interests.

We have seen the collapse of so many empires. Now it could be the turn of US, though not so soon.

[vinay28]

rk, don't go by what appears in public domain. In politics, what goes behind the scene is what matters and that will come out in next 3 months!

[rk_a2003]

Where Is The Problem?!

It appears that all over the world the Governments are rigging the figures. It’s not confined to one country everyone is part of it US, China including India. Look at the IIP figures revision by India; even it embarrassed Finance Minister.

The world powers are making mockery of everything. They rig figures. They keep on printing money. They bluff .They Wonder. They express puzzling; what not? They make Shakespeare’s drama inferior in comparison.

They know where the problem exactly exists. Still they don’t want to recognize it, Just to avert addressing it. It’s the question of distribution of wealth produced all over the world. How can you concentrate 99% of wealth in the hands of 0.03% and deprive millions of people even from basic needs and still expect economy to grow?!.

Majority of people are struggling even to meet the daily needs where from they buy Homes, Cars, Refrigerators, Hi-tech gadgets, Computers, Software’s, Holiday packages, Flight tickets? and how can the economy will grow without this happening?!.

The real economy lies here. Phantom Economy cannot be real, it’s just financial engineering. Managing paper. Whereas it should act as a supplementary to the core economic activity it is encroaching and occupying the whole arena. Tweaking it, tinkering it will not have any real positive effect on core economic activity. It only can postpone the inevitable crisis and pray for the best. This always cannot happen.

[rk_a2003]

Have a look at the chart which is self explanatory and substantiate what I posted in "Where Is the problem?!"

[umesh1]

HOW & WHYS of a Trading strategy
These days, everything you could ever want to know about trading can be found with a simple Google query. Brokers are everywhere, and anyone can learn to trade online in less than a week.

Here’s the dream we all want to believe: “Anyone with a laptop and internet connection can start trading and making money. After some practice and experience, we’ll be able to quit our job and make even more money trading fulltime from home.”
Ahh. If only it were that simple, we’d have a world full of homemade Crorepatis.
You see, this is only half the story.
It all really comes down to a matter of capital and strategy.

Trading is serious business, and unless you have some operative knowledge about how the business is, you’ll always be the guy with the short end of the stick, wondering why your account keeps dwindling
Losing traders treat their trades like lottery tickets: each one having no connection to the others. Trades are taken in isolation, each one serving as a lottery ticket that – hopefully – makes some money. If not, they just keep trying until they get lucky, or wipe out.
Winners, on the other hand, have a plan.
Winning traders do not know which specific trades will be winners or losers, but they know they are likely to walk away richer than when they started.

In short, here’s what you need to do:
1. Learn about the technical aspects of trading (not only technical analysis)
2. Figure out your strengths and weaknesses as a day trader (compared to professional traders)
3. Devise (or learn) a trading strategy that maximizes exposure your strengths while minimizing exposure to your weaknesses
4. Devise (or learn) trade entry/exit techniques that compliment your strategy
Most day traders skip steps 1 - 3 and jump straight to step 4. They focus on the ‘hows’ of trading, but ignore the ‘whys’.
The semi-experienced trader buys books, videos and attends seminars to learn about various trading “strategies”. Most of these methods include some combination of technical indicators that serve as trade entry/exit signals.
I want to state for the record that all of these methods
work. All of them. I say this because you need to understand the truth behind this statement. There’s a BIG difference between a method that works, and a method that works consistently. And therein lies the key to understanding
why so many trading strategies fail.
Would you rather make Rs5000 on 2 trades, only to lose Rs4500 on the next 2 trades?
Or make a consistent Rs 2000 on each of 4 consecutive trades?
A winning strategy should not be based on how much money is made on each trade, but how consistent the wins are. Consistency trumps absolute gains.
The bottom line is that we don’t want to end up with a strategy that works against our natural strengths and weakness as day traders. Many people can’t make consistent profits simply because their trading method exposes their weaknesses while avoiding their strengths.
Trade with a plan, justify yourself not others about your entry levels, trade with targets and stop loss
A stop loss hit at your will is still a profitable trade than a stop loss hit at markets will
The bottom line is you need to think about the type of trader you want to be, before you even start trading.
This may seem like an insignificant thought now, but it will make all the difference in your trading journey.
Personally, I want to spend as little time in front of the trading charts as possible.
I want my trading operation to work for me, not the other way around.
What about you?

[rk_a2003]

My Experiments with Wolf Wave

I have already posted my experience with wolf wave and consequently formulated Fusion Trading Strategy and practicing it with relatively high success rate. I have some more thoughts to share with.

To my understanding and observation it appears that wolfe waves(EOD) are formed plenty during range bound markets.

When market is trending it is hard to identify wolf waves on EOD basis. If you are able to find plenty of ww’s(EOD) you may think probably market is in range bound movements.

When the ww’s dry up and you find it hard to identify wolf wave patterns (EOD) you may understand that the market is trending. Remember that the market trends roughly around 30 % of time the remaining time it’s in range bound movements.

There are some other tech indicators to find out whether the market is trending or range bound, but they may not be able to give a decisive indication. I feel finding it through ww formation rate is comparatively better.

So the bottom line is trade ww’s when you find them, when you are finding it difficult to identify them then resort to trend following strategies which ever you feel is convenient (there are so many).when you again started to locate ww’s stop trend following methods and trade ww’s.