Price Action Trading ( Without Indicators)

Intraday Trading strategy for all Directional traders.

Intraday Trading Strategy Thread 🧵

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Trading is always a balance between Profit & Loss and there is nothing called 100% or 95% sure shot. So focus on the live price rest is noise

Chart 1

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Chart 2

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Chart 3

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Chart 4

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Vwap with Pivot Points

Intraday Trading strategy for Trend followers ( Will share also for mean reversion trader as soon as possible )

Intraday Trading Strategy Thread 🧵

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A basic framework of the system with calculation using simple standard pivot point with default settings ( On Trading view traditional pivot points )

Always focus first on risk per trade and then reward

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Chart example no - 1 for Trend Followers. Read the wording in the chart image along with the above framework to understand in a better way

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Chart example - 2 . Using pullback rejection maximum times make our risk smaller with high reward

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Chart example - 3. When the range are wider lesser the chance for Directional moves only high chance of sideways auction

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JESSE LIVERMORE is considered the greatest trader of all time.

He was the richest person in the world during his time.

I've read majority of his books and picked out learnings which are relevant even today with examples of the current scenario.

1: Remember that stocks are never too high for you to begin buying or too low to begin selling.

This principle still holds true today in trading, especially trend following.

Most people think if a stock has run up too much, then it's price is high and it will reverse.

But a trader should always be on the right side of a trend.

For eg: Asianpaints has been making new highs constantly, the major money would've been by the people who were on the right side of the trend i.e long.

Never buy it just because it has fallen too much. Instead short it and make money.

2: “Being a little late in a trade is insurance that your opinion is correct.”

It's okay to enter in a trade after you have received confirmation from the market.

Trading after confirmation will make your sacrifice your profits but it will also protect you against the loss

Moving Averages Full guide 🧵

How to use them ? Which one is best ? What I use ?

Also I share free PDF on price cycle BO trading

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First let us go through 2 cases of how moving averages are used
1) For finding trend - Prices are volatile on day to day, week to week basis to smooth them MA are used . It tells clear direction of the trend without getting lost in volatility (1/n)

Look in 1 chart it's only Prices & 2nd one with only MA. Things look neat in 2nd one (2/n)

2) Support areas -

Moving averages are used as support areas for adding up stock.

As stock picks up trend it usually takes support in between towards the key moving averages. Example below - Deepak Nitrite taking support of 10 week EMA as it runs up

These 2 are the most important use of moving averages Now we will look at different MA and which one is best

Key #learnings from William O'Neil about true market leaders:

1) 71% had >50% EPS growth last qtr
2) 86% had >40% sale growth last qtr
3) 67% had accelerating EPS in last 3 qtrs
4) Average ROE was 28%
5) Average RS was 92
6) Time from breakout to peak was 16 months

20 lessons from trading legend Stan Weinstein:

Volume is a gauge of how powerful the buyers are... Never trust a breakout that isn't accompanied by a significant increase in volume.

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What is Nicolas Darvas’ $2 Million system?

10 truths I wish I knew when I started trading:

Trading always was, is, and will always be a game against yourself. Nobody can make it happen for you, and there’s nobody to beat.

Your only chance of winning is to practice being a better version of yourself today than you were yesterday.

/1

Traders waste so much energy lamenting on "I missed this" - if all that energy was spent on fixing a problem they just identified — many of them would be better off than they are today.

Be a good problem solver, not a complainer. That negative energy is no bueno.

/2

Performance is a byproduct of position sizing.

Position Sizing stems from conviction.

Conviction is built by doing deep dives and studying specific setups in the markets, especially ones that tap into its structural tendencies consistently.

/3

Have a few setups you know really really well.

I have hundreds of examples on each, done deep dives & can trade them when I see them instinctively.

You have to know exactly what ur looking for…so u can repeatedly execute those setups & make them sources of income.

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TOP 10 TRADING BOOKS THAT MAKE YOU A BETTER TRADER

I've read a number of books on trading and these are top 10 of them which I found the most useful.

1: Reminiscences of a Stock Operator

This book is a biography of Jesse Livermore, world's greatest trader.

It highlights his trading principles and trading psychology along with how he made and lost his fortune.

2: Market Wizards

This book has interviews with the biggest traders in trading. They are sharing their setups, psychology, the way they think and their experiences.

It's definitely an amazing read.

3:Trading in the Zone

If you're suffering from psychological problems related to trading then this book will solve them!

It talks about all the emotions and psychological barrier a trader goes through and gives a way on dealing with them.

4:Trade Like a Stock Market Wizard by @markminervini

This is a timeless classic and it contains excellent swing trading strategies for people who like to trade stocks positionally.

TREND TEMPLATE CRITERIA by the Legend @markminervini

A stock must meet all eight criteria to be deemed in a confirmed stage 2 uptrend.

1. Stock price is above both the 150-day (30-week) and the 200-day (40week) moving average price lines.

A Thread🧵

2. The 150-day moving average is above the 200-day moving average

3. The 200-day moving average line is trending up for at least 1-month (preferably 4 to 5 months or longer).

4. The 50-day (10-week moving average) is above both the 150-day and the 200-day moving averages.

5. The current stock price is at least 25 percent above its 52-week low. (Many of the best selections will be 100 percent, 300 percent, or more above their 52-week low before they emerge from a healthy consolidation period and mount a large-scale advance).

6. The current stock price is within at least 25 percent of its 52-week high
(the closer to a new high the better).

7. The relative strength (RS) ranking (as reported in Investor's Business
Daily) is no less than 70, but preferably in the 90s, which will generally be the case with the better selections.