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     GETTING STARTED
 
 
   GETTING STARTED || STRATEGIES || INFRASTRUCTURE ||TRAINING || FOOG FOR THOUGHT || DISCIPLINE
   PIT FALLS TRADING || TRADING ROOM || GREATEST INVESTOR || STOCK MARKET HISTORY || CHECK LIST
MAKER'S OF MODERN TRADER

TECHNICAL ANALYSIS CHECK LIST:-

Key to successful Trading are Knowledge discipline and patience. If by know you have gained the knowledge, the best way to achieve discipline and patience is doing your homework and having a plan of action. Finally one has to put the plan of action to work.Going through the chick list won't guarantee the right conclusion, It will greatly increase the odds of winning in the financial market.

Technical Analysis Check List.
1 What is the direction of overall Indian Market and co-relate it with International Trend?
2 What is the direction of various market sector?
3 What are the Daily, Weekly / Monthly  Chart Showing?
4

Find the direction of the major, intermediate, and minor trends up, down, or sideways?

5

Where are the important support and resistance levels.

6 Where are the trend line or channels.
7

Are the volume and the open interest confirming the price action.

8 Where are the 33 %, 50 % and 66% retrenchment?
9 Are there any price Gap and what type are they?
10 Are there any major reversal pattern visible?
11

Are there any continuation patterns visible?

12 What are the price objective from those patterns?
13 Which way are the moving average pointing?
14

Are the oscillators overbought or oversold?

15 Are any divergent apparent on the oscillators?
16 Are the contrary opinions numbers showing any extremes?
17 What is the Elliot Waves patterns showing?
18

Can you spot any obvious 3 or 5 wave patterns.

19

What about Fibonacci retrenchments or projections?

20 Are there any cycle tops or bottoms due?
21

If the market showing right or left translation?

22

Which way is the trend moving moving up down, or sideways?

23

What are the Point and Figure chart or candlesticks charts showing?

24

How much of capital do you have to risk upon.

25

Which Trading system one has to use for the above market conditions.

On arrival at Bullish or Bearish conclusions, answer the following questions.
1 Which way will this market trend over the next several month?
2 Am I going to buy or sell this market?
3 How many units will I trade.
4 How much am I prepared to risk if I am wrong?
5 What is my profit Objective?
6 Where will I enter the market?
7 What types of order will I use?
8 Where will I place my protective stop?
9 How long should I wait for my objective?
  Guideline given above holds good for Investment / Full Time Day Trade and helps in reducing stress and take maximum of profits by taking it slow and steady.

TACTICAL OPERATION METHOD:-

Technique used for above can further be classified as follow

There are three Methods of Tactical Operation:-

  • Getting into New Commitment.

  • Getting out of commitments which have moved as expected and show a profit.

  • Getting out of commitments which have not moved as per expectaction: Whether it is profit or a loss.

Getting into New Commitment.

1

In line with the BSE/ NSE  trend, or to a limited amount in countertrend move with well defined technical stoplosses.

2 On breakout from Head-and shoulder pattern.
3 On breakout from Symmetrical Triangle, provided it is not working into the final third of its length towards the top.
4 On breakout from Right Angle Triangle.
5 On breakout from rectangle, or on points of contact, beginning with the sixth reversal.
6 On breakout from a Broadening top.
7 On breakout from Double or Multiple Top or Bottom.
8

On breakout from Wedge. or commitments within the Wedge in the last third of its length as it approaches its apex.

9

On Flags and Pennants, after sufficient secondary or corrective move by the pattern, or within the pattern, provided that volume and all other indications tend strongly to confirm the pattern

10

On clear penetration of a well defined support or resistance area.

11

On breakaway gap.

12

After formation of an important and well defined island following a considerable move.

13

On contact with or penetration of, the favorable trend line if both trend lines are moving in the Major trend direction.Breakout and penetration must confirm to 3% rule and must close in the direction of break out area dually supported by expansion of volume.

Get out of present commitments:-
1 On adverse breakout from Head-and-Shoulder formation.
2 On adverse breakout from symmetrical Triangle.
3

On adverse breakout from rectangle.

4

On establishment of new Minor low or new Minor high in adverse direction.

5 On adverse breakout from Diamond.
6 On adverse breakout from Wedge.
7

On one -Day Reversal if Marked by heavy volume or a gap.

8

On adverse breakout from Flag or Pennant.

9

On clear penetration of any resistance or support level in the adverse direction.

10

On an adverse breakaway gap.

11

On the appearance of an Island after a move in the favorable direction.

12

On penetration of basic trend line in the absence of pattern or other favorable criteria.

Breakout and penetration must confirm to 3% rule and must close in the direction of break out area dually supported by expansion of volume.
Getting out of commitments which have not moved as per expectaction
1
Getting out of commitments which have not moved as per expectaction:- It is recommended to squire off the position if the expected returns are not arrived at within expected time. Whether it is profit or loss squire off the position as there are many other alternative available in the market.