Friday, October 1, 2010
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Charts for the Indian Stock Markets...Realtime and EOD...Nominal Fee For An Awsome Service...!
Charts for the Indian Stock Markets...Realtime and EOD...Nominal Fee For An Awsome Service...!
About Me
- Tryin2Trade
- Hi, I am Manoj and I am trying to be an investor/trader with more emphasis now on investing side.This blog is an attempt to Discipline myself and also serve as my Diary, for recording what I call Ramblings Of An Insane Mind.Since learning is a never ending curve I intend to share my notes with friends who are interested and also would like to learn from others.The posts in this blog are nothing but notes I am making for myself.Nothing on this site should ever be interpreted as advice, research or an invitation to buy or sell any securities. TRADE LESS TRADE SMART!!! Hit me with brickbats at tryin2b@gmail.com
Stuff I Keep Coming Back To
- A Double Top Or A Double Bottom
- A Guru Or A Mentor?
- ADX
- Bear Necessities
- Dennis Gartman’s Trading Rules
- Divergence
- Do You Have A Checklist??? Never Too Late To Make One!!!
- Gaps
- How To Make Money In Bear Market
- Kiss
- Lessons In Investing From The Ancients
- Linda Raschke On Breakouts
- Linda Raschke On Swing Trading
- Linda Raschke On Trading First 30 Mins Breakout
- MACD
- Of Fake Moves...ShakeOuts And End Runs
- Of Inflation Interest Rates
- Presenting NH-NL Index
- Profits From Short Trades
- RSI
- Rule Of 72! It Doesnt Get Easier Than This
- Sell & Sell Short
- Ten Rules for Trader Longevity By Teresa Lo
- The Break-Even Curve
- The Seeking Alpha ETF Investing Guide
- The TA Process...Sweet And Simple...
- This is the Simplest Way You can get to Identify Price Action!!!
- Trade Price...Not The Indicator!!!
- Traders Rehab Program
- Trading Plan For Myself
- Trading Survival Rules
- What Is Open Interest
- You Think..Therefore You Are
Blogs I Frequent
- Afraid To Trade
- Alan Farley
- Barel Karsan
- Bramesh Bhandari
- Brett Steenbarger
- Chris Perruna
- Deepak Singh
- Fundoo Professor
- Gaurav's Blog
- Investment Tools
- Jagoinvestor
- Just Nifty
- Michael Kahn
- Nooresh Merani
- OJN 2
- Pradeep Bonde
- Stock Market Technicals
- Taz Trader
- The Equity Desk
- The Kirk Report
- The Simple Dollar
- The Third Eye
- Toni Hansen
- Trader Mike
- VFM
- Vfm Commune
My Fav Books on Trading
- The Disciplined Trader by Mark Douglas
- The Master Swing Trader by Alan Farley
- Technical Analysis of the Financial Markets by John Murphy
- Come Into My Trading Room by Alexander Elder
- Trading For Living By Alexander Elder
- Encyclopedia Of Chart Patterns by Thomas.N.Bulkwoasky
- Technical Analysis Explained by Martin.J.Pring
Some Links To Learn Technical Analysis
NEWs You Can Use
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When the facts change, I change my mind. What do you do, sir?
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4 comments:
Colin Twiggs comments
The Sensex broke resistance at 20000, gapping to 20200 Monday, after a brief retracement. Further advances without a reasonable correction would indicate a self-reinforcing trend: rapid gains but ending in a blow-off and equally rapid reversal. Rising Twiggs Money Flow (13-week) high above zero signals strong buying pressure.
http://www.incrediblecharts.com/tradingdiary/2010-09-27_markets.php
This New High New Low Indicator is pretty much a useless indicator. All of these sort of divergences on technical indicators are pretty much useless in strong trends. Open up the daily chart of Nifty since 2003 and plot a stochastics or RSI indicator. You will notice that they reach overbought/oversold pretty early in a trend and remain there for most of it.
Infact fact is that the majority of a big move happens after an indicator becomes overbought. Each time those indicators dipped below the overbought line it was time to buy and wait for a new high and time and again it worked. I use the same strategy to trade forex on intraday 5 mins bars. Works beautifully.
So forget all these indicators, and rather than look to short, wait out patiently for a meaningful decline and then buy and hold for newer highs to come. We will go to 7200 on Nifty (by Jan-Feb) before this move from 5000 is complete. Each 300 point pullback will be a time to buy.
Cant agree more with your post.
Nifty is in strong uptrend even intraday dips like 5962 is being lapped up for overnight gains. The best of indicators can be misleading in such case. As long as FII are relentless buyers with tons of liquidity provided to them at 0% they will be more than willing to make a killing in our markets along with dual benefit of $ depreciation
alpahbet1
Yup I do read Collin Twiggs!
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Pi,
Thanks for ur Inputs...points noted!
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Naresh
Boss aaj kal Eid ka chaand ho gaye???
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Divergence was a view, what is visible on the chart...tradeable or not tradeable is the way how one looks at it...like mentioned many times divergence in itself is not a signal to buy or sell...divergences like many other indicators do fail....but that doesnt render them useless...
We trade price, and that is the MAntra,in price action,lies the confirmation or non confirmation of the indicator...that's why Patience is the key, before we jump into any trade...sometimes we do get impatient and excited..even in that scenario help is at hand for those who in their throes of ecstasy a irrational exuberance don't forget to put their STOPS!!!
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