How can you improve your trading in 2019
Just do one thing daily without fail.
Study stocks that are up 20% for a week and up 100% for a year
Everything you need to make money you will learn from that.
You need to understand nature of stock moves, how they start. how they progress, how they reverse.
By doing this daily you will have working model of what works in current market.
Then you can start designing the scans to find them.
This study will help you develop "your own understanding " of market moves. Once you have sufficient experience of doing this , you can start discounting lot of conventional wisdom or market speak. Because you can see what the Guru is telling you on Twitter or in book , or in a blog is not in line with what actually happens in market.
How can you do this
Run simple scans in Telechart
Study Bullish 20%
c/c5>=1.2 and minv3.1>100000 and c>=5
Study Bearish 20%
c/c5<.8 and minv3.1>100000 and c>=5
If you are trading low priced stocks you can eliminate last condition of c>=5
Do this daily and you are guaranteed to be a better trader by end of 2019.
Posts
4 comments:
Hi and thanks for the summary above on Bull/Bear Trades. Can you just translate the Telecharts code into statements so I am clear and can then utilise and test something similar by setting up a scan in Stockcharts?
I just wanted to be sure on what you have summarised in the code!
Keep up the great work BTW!
Regards
Vimal
c close price today
c5 close price five days ago
minv3.1>=100000 means minimum volume in last 3 days of trading was above 100000
c>5 means price above 5
Ok thank you Pradeep.
Thank you Pradeep. After losing quite a bit of capital I am so glad I came to your site, will be joining the team.
Post a Comment