I am very much influenced by ST of NiftyNirvana due to his trading method. And I am using some part of it in my Price Action Trading. This Small E-Book is a very good learning for those who want to learn PRICE ACTION TRADING.
Price Action Trading is nothing but taking Trading Decisions Purely Based on Price Movements and not using any indicator which are derived from PRICES.
ST used this for PURELY TRADING INTRADAY and not taking OVERNIGHT POSITIONS.
This book is easy to understand and given with EXAMPLES of CHARTS.
ST uses certain points in the Prices where Price may show some DECISION either on the UPSIDE or on the DOWNSIDE. These places are given by the PRICES themselves they are like PREVIOUS DAY LOW, PREVIOUS DAY HIGH, BIG ROUND NUMBER etc. ST call them as DECISION POINTS as they are in some way DECISION MAKERS of the PRICES.
Today sharing with you a very good INTRADAY TRADING SystemFor NIFTY and BANKNIFTY which I come across while browsing some SITES. This INTRADAY TRADING system is designed by Ajeeth Singh. Full Credit to him, I am just sharing with our Readers.
Accurate Nifty Trend Finder( Auotomated Trend Finder):-
This is specially designed for Intraday Trading in Presently in Nifty and BANKNIFTY.
Intraday Nifty and Banknifty Trading System gives Buy and Sell Entry levels with Stoploss and Price Targets. Presently it gives 5 Targets.
In CURRENT SIGNAL – it tells what is the Current Signal as per the System .. is it Moderate Buy or SELL or Strong Buy or Sell.
It is designed that it updates automatically after every 15 mins of trading day.
TRADERADDA NOTE:-
We watched the INTRADAY NIFTY TRADING system for few days… it is giving good performance and risk reward is also good. But if you Combine the system with technicals as Supports and Resistance then this may give Excellent and Consistent Results .
Some days ago I started to Learn ELLIOT WAVE from inspiration from Ilango Sir of JustNifty. So I thought to start from SOME book. And doing some research and from information from friends I came to know about a BOOK By Robert Pretcher and A.J. Frost named ELLIOT WAVE PRINCIPLE.
So I then thought to buy this book but first I thought to know weather that BOOK is understandable to me. I mean is the language and lessons are suitable to me. Then I came to know that we can READ ELLIOT WAVE PRINCIPLE BOOK Online for FREE from ELLIOTWAVE.COM website.
So guys I am sharing you that if anyone wants to learn ELLIOT WAVE and want to READ the ELLIOT WAVE PRINCIPLE BOOK FREE then you can GET that absolutely free on ELLIOTWAVE.COM site. And then if you feel COMFORTABLE then you can order PAPERBACK Copy of the BOOK.
NSK MAGIC SYSTEM:- This System is Presented by Nitin Kadam (JN Blogmate) . So all Credits to the COMPILER. We at TraderAdda just sharing the system for Readers interest.
This SYSTEM is Designed for Specially for Positional Trading and mainly tested on NIFTY. You can test and TWEAK it for other Stocks as per your CHOICE and EXPERIENCES.
MARK Highest HIGH of THREE DAYS and LOWEST LOW of THREE DAYS.
RULESE OF NSK POSITIONAL TRADING
SYSTEM FOR NIFTY:-
ENTRY in TRADE:-
BUY above THREE days HIGHEST HIGH
SELL Below THREE days LOWEST LOW
STOP of 0.5% of ENTRY PRICE.
PROFIT Booking and EXIT PLAN:-
FOR LONGS:-
If PDL(previous day LOW) is broken book Partial profit.
If PDL (previous day LOW) is broken for the SECOND TIME after ENTRY then BOOK PARTIAL PROFIT.
and IF BREAKS PDL third time after entry then EXIT the TRADE COMPLETELY.
FOR SHORTS:-
If PDH (Previous Day HIGH) is broken book Partial profit.
If PDH (Previous Day HIGH) is broken for the SECOND TIME after ENTRY book Partial profit.
and IF BREAKS PDH third time after entry then EXIT the TRADE COMPLETELY.
ONE NOTE:- One Can BOOK PART PROFITS if you get very HANDSOME PROFITS due to GAP OPENING.
EXAMPLE OF NSK SYSTEM:- (Illustrated By
NITIN)
TraderAdda’s 2 CENTS:-
We have observed that for Individual Scrips other than INDEX this SYSTEM needs to be TWEAKED to Trade POSITIONALLY COZ this 0.5% STOP is not sufficient for SOME STOCKS which are more volatile like TATASTEEL, SESAGOA, TATAMOTORS etc. So before using for any SCRIP or index make through Backtest.
Editor's note: You will find a text version of this story below the video.
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Lehman Brothers, Washington Mutual, Bear Stearns and many smaller financial firms failed during the subprime mortgage meltdown.
The next financial flameout will likely be more destructive than what occurred between 2007 and 2009.
Granted, that is a dire forecast, given that the previous financial crisis was the most severe since the Great Depression.
But with the stock market rally near a five-year milestone, EWI's indicators suggest even greater risks vs. what we saw at the 2007 market peak.
You'll recall that the stock market topped in October 2007. But at the start of that year, most investors had the attitude of "full steam ahead." Even so, the Elliott Wave Financial Forecast gave subscribers a warning. Here's an excerpt from the January 2007 issue:
2007: THE YEAR OF FINANCIAL FLAMEOUT
When investors are optimistic, confidence remains high and liquidity expands ... But they celebrate the condition and come to view it as a "self-sustaining" virtue only when it is nearly over.
Several sentiment measures say that today's optimism is as high or higher. Even so, lopsided sentiment is just one red flag. The just-published March Financial Forecast warns of an even bigger financial flameout.
Even the head of a Federal Reserve Bank is talking about a bubble.
Dallas Fed President Richard Fisher amplified some lingering concerns that the central bank's policy stimulus is stoking asset-price bubbles that "may result in tears" for investors acting on bad incentives...
"I fear that we are feeding imbalances similar to those that played a role in the run-up to the financial crisis," he said.
Reuters, March 5
The just-published Financial Forecast gives you insight into the nation's staggering credit expansion, and tells you about "a leading signal of an impending credit contraction," which is flashing a bigger warning than it did in 2007!
Indeed, the first chart in the issue shows unequivocal evidence that the United States may face the biggest financial bubble in the country's history.
This article was syndicated by Elliott Wave International and was originally published under the headline Biggest Bubble Ever Marks 5th Year of Stock Rally. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
Editor's note: You'll find a text version of this article below the video.
Two economic reports hit the newswires Thursday morning (March 6). Both were important, yet each one had the opposite implication for the trend.
The market chose one report over the other, and the question is, why -- and what can we learn from that?
Both reports came out at the same time, 8:30 Eastern on Thursday morning. One was from Europe, where the European Central Bank said that they, "…decided to keep the key ECB interest rates unchanged." That suggested that the European economy was getting stronger. The second report was from the United States, where "…the weekly applications for jobless benefits fell to a three month low." That also was a sign of economic improvement.
Immediately after, the euro jumped to a new high for the year against the U.S. dollar. But why did the euro gain, and not the dollar? After all, the news from the US was also positive?
The answer comes down to understanding market psychology. All things being equal, it's the bias of the traders that determines the market's fate. The question is, how do you know what traders are thinking?
That's where Elliott wave analysis comes in. Wave patterns in price charts reflect the struggle between the bulls and the bears. So by tracking wave patterns, you can anticipate which side will ultimately win.
Let's take a look at what the waves were saying before the surge in the euro on Thursday. The day before, our Currency Pro Service told subscribers that the euro was forming a wave pattern called a triangle.
A triangle is pattern that moves against the primary trend, so when it ends, the old trend resumes -- in this case, up. On Wednesday, that allowed us to make a very clear forecast for the euro-dollar:
EURUSD [Posted On:] March 05, 2014 03:27 PM
From nearby levels further consolidation through waves D and E [of the unfolding triangle] should set the stage for a thrust above 1.3824.
On Thursday morning, not only did the euro hit its Elliott wave target, it actually went as high as 50 points above it.
The lesson here is obvious. In the world of finance, where every day you have multiple news reports competing for your attention, focusing on market psychology goes a long way.
Free 14-page eBook Trading Forex: How the Elliott Wave Principle Can Boost Your Forex Success
Learn how to apply Elliott wave analysis to your markets. Elliott Wave International's Senior Currency Strategist Jim Martens pulls from 25+ years of experience using Elliott wave analysis to show how you can put the power of the Wave Principle to work in your forex trading.
This article was syndicated by Elliott Wave International and was originally published under the headline How Watching Market Psychology Can Help You Time the Market. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
SAM, a Graduate in Science is a part time blogger and Full Time Professional Trader from India.
At TraderAdda he writes about Trading Systems, Amibroker Indicators and AFLs, Trading Ebooks, Trading Resources, Nifty Intraday Levels, Nifty Positional View, and many more other Trading Resources.
His area of interest are Technical Analysis, Developing Trading Strategies, Blogging, Gadgets and Reading.
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