No problem. I think both Al brooks and Macks PAT are okay for beginners to bring se structure to their charts. But trying to execute and make money is very unlikely. Come back in 1 year and let us know how it went.
I also read ninetrans blog. Also we are a group of traders constantly sharing ideas based on Brooks and Ninetrans on Telegram group. We are almost trading together. I will post my observations regularly here.
India Nifty? There are many Nifties. I trade India Nifty from SGX. it is in USD. 1 tick = 0.5 point = US$1
wow, man! you'll be the first one ET knows about who will go down in history winning with AB ' approach' / whatever that is/,but.. can you please make at least 3 REAL TIME CALLS? JUST 3 ) instead of 'after-the-fact' ''analysis'' of the charts..just three..am I asking too much? i mean you are more then welcome to make 500 of them
Challenge taken. The trading day is over in India today. From Monday, I will post 3 calls during market hours as I take the trades. I will share the charts and analysis after the market. Please be ready during trading time in India. I use Bank Nifty current month Futures charts but trade options based on them. I do not really care how I go down in ET History, but what matters to me is if I made money.
this is a hunt for Indian suckers imo..unless.. 1) define a 'pullback' - is one tick in the other direction already a 'pullback'? 2) how do you trade on a 'pullback' ? 3)what it resulted in / here 700pts/ you knew AFTER THE FACT 4)what was mostly sideways YOU KNEW AFTER THE FACT -if not tell us how you know stuff is going sideways and when IT STOPS GOING SIDEWAYS.. 5) finally here , hoiw do you know when to leave / close/ but there will be more
Even Al Brooks was clear in his books. He stated "Trading is not black and white. It's grey." "You trade probabilities." If your read is wrong you get out at the stoploss which in most cases is the other end of the signal bar. Just FYI, I captured some points within that 700 point spike. How to trade on a spike was mentioned in the books. For your question, "how do you know when to leave". This was discussed in the books in the topic "measured moves" Sideways need not be traded. Nobody forces one to trade. One can just watch. All those things were clearly mentioned in the book trilogy. If you read them, you would not be asking these questions here.
Currency is the Indian Rupee for traders in India. I trade on an Index called Bank Nifty which is an index of about a dozen large banks in India. There is a futures scrip called SGX Nifty which more or less mirrors India's major index called Nifty (on top 50 stocks listed on India's National Stock Exchange). This is traded in USD on the Singapore Stock Exchange.