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hi sir can u guide me to good trading system for currencies and also good blogd to follow for currency.
ReplyDeleteHi Chetan,
DeleteI don't have any information about a good trading system or a blog related to currencies :(
I don't differentiate between markets i.e stocks, commodities or forex. The principles of technical analysis will work across all markets.
The only thing that is different is the volatility of each market.
Hi,
ReplyDeleteCan I get link to download Elliot Wave Calculator...Link you have provided is not help me to download Excel...
Regards.
Hi Shweta,
DeleteYou can get the calculator from the link below.
http://www.4shared.com/document/5AlV3vmA/ewc__3_.html
Thanks.
Hello Sir,
ReplyDeleteCan you provide me link for (relative performance rank calculation file)?
Thanks,
Shailesh Patel
Hi Shailesh,
DeletePlease check - Comparative relative strength indicator method
Hello Sir,
ReplyDeleteAm new to trading.
Have obtained theoretical knowledge on Technical Analysis. Plan to do Paper Trading before live trading in equities.
But dont know how to identify the stocks to begin paper trading. I mean which stock i can paper trade.
i planned to trade small caps with good traded volumes.
please advise is my approach is good if not suggest me a better one.
Hi Aravamudhan,
DeleteYes your approach is good, small cap or large cap stock would hardly make much difference.
You just need to screen for a stock taking in mind the turnover of the stock. Trade stock with high turnover. Just look at the chart of the screened stock to verify whether it is liquid or not. The whole idea behind this is that you can enter and exit a stock easily without much slippage. You can quickly screen for the stock based on turnover from the link below.
NSE Sector Index Components Performance
Hope it helps. Thanks for visiting the blog :-)
Thank u sir for ur comment.
ReplyDeleteHave picked CNX Nifty Small Cap but could not find the index in the below NSE Site path.
Live Market - Live Watch - Equity Stock.
Trying to get the turnover of small caps.
Also clearly understood that volume and turnover matters to screen stock and not large cap or mid cap or small cap.
But just thought of getting small cap turnover details but not getting.
Please clarify
Download the trading data from the watchlist of small caps which you are tracking. Then multiple price with volume of a stock to get the approximate turnover.
Deletedear sir,
ReplyDeletehave read the book "How to Make Money Trading With Charts" authored by Ashwani Gujral. He suggested below stock picking strategy.
1st identify the long term(1 Year) trend of the NIFTY/SENSEX. Am Following NIFTY
2nd identify the long term trend of sectors or sectoral index which approximately matches with NIFTY/SENSEX trend
3rd if the long term trend is bullish then pick the strongest stock in the sector else pick the weakest stock.
my question, have compared NIFTY with BSE POWER Index and observed that both are bearish in long term.
now my question is, in long term the trend looks bearish but for the past 20 days observing reversal.
Have below 3 questions,. please clarify
(1) so now should i assume the trend as bearish or bullish?
(2) i planned to pick strongest stock by identifying the stock having maximum weightage in the INDEX, to trade in bullish market.
(3) i planned to pick weakest stock by identifying the stock having minimum weightage in the INDEX, to trade in bearish market.
Here is how you can make a quick rule. Average yearly return of index is 15 percent. So a bullish stock is the one giving more than 30 percent yearly return. A bearish stock is the one giving less than 0 percent yearly return. You can always be long in strong stocks and short in weak stocks with appropriate stop loss.
DeleteAnother quick way to screen a stock is from the link I gave you before. You can be long in the best performing stocks and short in worst performing stock of the year. This can be done by sorting "365 d % chng" column.
Weightage in index is irrelevant when it comes to trading an individual stock. Weightage of particular stock tells us its relative effect on index as whole. Hope it helps.
Dear Sir,
ReplyDeleteThanks for your prompt response so far.
As said earlier, am doing paper trading on cash market.
Recently studied on Open Interest Concept and its relation to prices.
like INCREASE OPEN INTEREST AND DECREASE IN PRICE etc
Conceptually can understand the OI but unable to apply in Cash Market Trading.
In Money Control Site, can find OI for Futures, options for NEAR, NEXT AND FAR time frames.
Also OI for various prices for the same stock(Maruti Suzuki).
So can you please clarify on how to apply the concept on cash market trading.
I don't use open interest data. I use just price charts.
DeleteSir,
ReplyDeleteCan you please asvise importance of volume during consolidation(Side-ways)?
Currently am using stochastic and RSI to judge price movement.
Should i use volume also during side-ways? If so, how?
I don't use volume as well. Volume figures can be manipulated easily. However, a lot of people use it effectively like market profile based traders. Typically volume is low during sideways market and increases with trend and breakout moves. But this information is of limited use. Try to use price information to make trading decisions as far as possible.
Deletesir,
ReplyDeletei decided to do swing trading(7 Days holding period) in cash market.
if i go long, i can take delivery in cash market and square-off at the end of 7 days. but if i plan to short, i have to cover on 2nd day in cash market.
i cannot rollover my holding.
so if i plan to swing trade in cash market, always should i have to do only long trading ?
shorting is suitable only for intra-day or Futures?
please clarify.
Yes you are correct.
DeleteSir,
ReplyDeleteCan I get the name of a site using/ declaring Daily SAR?
Thanks.
I don't have any information on that...
DeleteHello Sir,
ReplyDeleteOn Resistance Break-out, we can come across Daily Break out, Weekly Break out and Monthly Break out.
my understanding is breaking-out of Weekly Resistance is stronger than breaking-out of daily resistance.
similarly breaking-out of monthly resistance is much stronger than breaking-out weekly resistance.
so if trade long on the stock which breaks-out monthly resistance(also analysing other trading indicators like MACD, MOVING AVERAGE etc), profit making chances are good.
please clarify.
Hi, yes you are correct but often you have false breakouts as well. What I would do is take long only trades after a breakout, I will not short. At breakout level, I will expect a rise in momentum. If that doesn't happen, chances are it is a false breakout.
DeleteWhichever strategy you are using, you should know your stop loss level and be comfortable about it.
Dear Sir,
ReplyDeleteAs you are aware the primary market NIFTY AND SENSEX is in downtrend. have analysed other sectoral indexes like AUTO, IT etc and observed they are also in downtrend aligning with primary indexes. but observed BSE CONSUMER DURABLE Index is uptrend. Since am cash market trader taking delivery with holding period of 2-3 weeks, can only go long on stocks but in downtrend can't long on stocks. so can i analyse the index constituent stocks of BSE CONSUMER DURABLE index and long on some promising stocks in this major downtrend season? is my approach is good? If not, please suggest some better one. please clarify
Yes your approach is good, considering that you can be long only.
DeleteOutperforming stock from outperforming sector is a good screener. But do keep the stoploss based on individual stock's price charts regardless of market or sector trend.