BC TRADING
Saved by @Mollyycolllinss

How I Trade

Easy. I trade with the trend. Buy low sell high for up trends. Sell high, buy low during down trends. I don’t care about fundamentals. Often I don’t even know what sector the stock is in. Half my trades, don’t even know the name of the company.

 I look at the setup. I look for skew. If a few other variables line up. I stalk it for an entry.

Then I use options to maximize my capital. I mitigate the risk with diversification.
How to spot the trend?

Let’s take a look at this chart. Now. Let’s trade it.

I have no idea how. There are no landmarks. It could be going up, or down, maybe sideways. If I have no clue where it’s going. How do I make a plan? Where do I enter? Where is the exit?
Elliott Waves Principle

Now this one. A simple fact. If you see a 1-2 setup. 3 is next. 3 runs fast and hard. Usually between 100% to 161.8% of 1. However if price break down below 2. This trade is invalid. We have to consider an alternative.

Can you manage a trade like this?
How long does it take to learn Elliott Waves?

Months probably years to be an expert in it.

Not that is not going to do you any good eh? Years to master something before making any money.
Well. Here is the good news. You don’t have to analyse it yourself. I found a service that will do it for you. The best in the business. I have nothing to do with it. I am just a subscriber myself. Also. I am far from being an expert.
You’ll need to understand some basic principles. You don’t have to know everything. Just the concept of it. I will provide you with my trades. When you have developed the confidence. You can subscribe to the service yourself for $99. You won’t need me anymore.
Here is a PDF. This is a basic version of the book by Robert Prechter. The full version, you'll need to buy on Amazon.

https://t.co/hXiDAcRCeg
If you go into the service now. But you don’t understand what you’re seeing. It going to be overwhelming. This is because there isn’t a shared language.
The thing about trading. There are about a million ways to do it. I am sharing 1 that I use. It’s simple and repeatable. It can churn a small account fast. We’ll talk about risks. I’ll share my view. Then you can develop your own profile over time.
Why churn a small account?

If you can set aside a couple of thousand. Not your entire savings. The goal will be playing with house money ASAP. If all you have is a few thousand. Keeping it in the bank is not going to make you any richer. Neither will consuming it.
So we take money earned thru work and savings, make more money. Then use a portion of the profits to consume.
Why?

This way. The money you work for will always be there. It’s your capital. You don’t spend your hard earned money. The primary reason why rich people become richer and the poor become poorer.
I’ve never done this before. Making it up as I go along. Trying to explain what is inside my head. So I apologise if it’s not polished like a course for sale.

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“In search of the holy grail”

A thread-


Holy grail- A strategy Which can make money all the time.

After going through two phases of a traders journey, the initial success phase, and Only why do i get loss phase, Traders enter the third phase -

THE SEARCH FOR THE HOLY GRAIL PHASE.

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A thread on SCALING IN - OUT METHOD -


What is scaling in - out?

1. Scaling in is adding on to the positions when they move in our favor (Pyramiding).

2. Scaling - out is exiting the portion of the position when the trade moves in our favor.

I have explained about pyramiding in previous tweets.

// Why use scaling out instead of exiting all position at once ?

When you are using ALL - out method where you exit positions at once, mostly you use wider Trail SL as you want to capture big moves and exit all when trail sl hits.

The problem with this method is that either you make too big or many times your medium size winners turns out to become Scratch trades.

So, when we use the scaling out method, we are trying to capture most of our medium size trades , so that they do not turn into scratch trades.

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Say we have to got a signal to enter in a trade, and we have to buy 1200 qty according to our Position sizing.

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We can divide into 3 parts, each part 400 qty.
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What is Analysis paralysis?

In simple terms, analysis paralysis is a person's tendency to over-analyze or over-think upon a decision to such an extent that he/she fails to make a choice resulting in a paralyzed state of inaction.


How a retail trader trades-

A trader named Rahul, He know all the basics of markets, He also has made a system which gives signals on nifty, he has also encorporated good Risk management and Position sizing into his system.

One day he gets a signal to buy Nifty at 13500 with stop at 13450, he wanted to take the trade, but he wanted to get sure that the trade he has take should be a winner.

So he says just let me check the RSI if its above this level I will buy , he checks it and it was above his

level, then again he wants to check another indicator named MACD, he wanted to get sure man, Now he do the most intelligent thing to get sure he gets right.

He goes to twitter and ask his twitter Friend Trader knight he ask him that should I buy nifty at 13500,
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This is the most important concept which made me great money in 2022.

This is the skill which is GUARANTEED to make you a better trader


Banknifty moves in 2 phases.

1: Consolidation
2: Trends

An understanding of both of these phases will take your trading to the next level.

Let's start with consolidation phase

It looks like this when Banknifty is stuck inside a range.


This is phase when you shouldn't be taking directional trades.

As market is mostly choppy and is good for mean reversion scalpers.

An option seller can initiate neutral strategies under such an environment.

Trending phase will look something like this

The price action is quick and furious at this time.

As you can see after a consolidation there is a strong breakdown.
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