Dear Friends - If you are here to learn "Price Action Trading" then the below link has all what you need to kick-start your journey. Its a collection of useful tweets, books, quiz, Amibroker AFLs & much more
RT to spread the word. Sharing is caring!
Here is the blueprint of "A Trading Plan". While overall guidelines would remain same, each individual must develop his own trading plan based his style. No single plan would work for all. Hope this helps u to be more disciplined!
Retweet to spread the word. Happy Trading!
My story:
I won
I lost
I struggled
I cried
I yelled
I overtraded
I revenge traded
I overleveraged
I took loan to trade
I compromised on family time
I've possibly made all the mistakes a rookie would made
But I did NOT Quit
I learnt, I improved & I made my way!
If you are struggling to build an intraday trading system here's something you can plot on your chart :
1. Price & Volume
2. TimeFrame (15/5m)
3. Previous Day high/low
4. EMA21 & VWAP
Draw S/D zone, observe, practice & train your eyes to see your setup. Good luck!
I am thinking to share my experience on Options trading. My goal is to explain the concepts in most simplest manner so that you can learn how to make the most out of your capital in risk defined positions to generate wealth in long term.
What would be a good mode to impart?
Simplifying Supply/Demand Zone Trading
Attaching a CHEAT SHEET to learn what qualifies for a Supply/Demand zone & when they work & when they dont. PDF version is available at the link below -
#LearnWithPAL
#HappyTrading
Google CEO Sundar Pichai
(He gave a speech in only 60 seconds) He said:
Imagine life is a game of 5 balls that you manipulate in the air trying not to fall these balls. One of them is rubber, and the rest is glass.
The five balls are:
Work, family, health, friends, soul.
In 2019 I've shared my exp on
#priceaction
trading & I hope it helped you learn the subject
In 2020 I plan to share how to-
1 Use
#priceaction
skills to spot opportunities
2 Use risk defined options strategies
3 Become a systematic trader
4 Grow ur A/C
Are you ready to learn?
While I am doing the write-up on Price & Volume relationship, I would like to share my hand made representation of the same for you to practice in the interim. This will help you understand what is NORMAL behavior & what is ABNORMAL. More details to follow soon!
#LearnWithPAL
I tried to create a simple "Trend Strength Meter" based on my experience on EMA21 but it can work with other MAs as well. If u can read a clock, you can read the strength of a trend. Keep practicing until your eyes are trained to spot this.
#LearnWithPAL
Moving Average slope can act as a trend strength meter & if clubbed with price action rejections it can be a killer combination. A simple yet very effective setup if eyes are trained well to spot it.
#LearnWithPAL
#Trading
#TechnicalAnalysis
Interesting conversation with my wife
W: What is support & resistance?
Me: Support is what you provide me all the time. As long that holds I can break any resistance in life & rise
W: Interesting! What if support breaks?
Me: I fall until I get that back
W: I Love You ♥️♥️♥️
One day you will tell your story of how you have overcome what you are going through now & it will become part of someone else's survival guide.
I read this quote few years ago somewhere & it had changed my thinking drastically. I hope it will change yours too!
#LifeLessons
I have uploaded the
#face2face
session presentation & a supplement document on "how to read a chart" & "draw supply/demand zones" PDF on my Google drive. Please refer to serial
#29
in my pinned tweet to review these docs.
Happy Learning!
#LearnWithPAL
Dear Friends,
I've shared my experience on how to do part time trading with conviction by using
#priceaction
. Also shared insights on the process to use risk mgmt to build wealth.
Thx
@vivbajaj
for giving me this opportunity to share my exp with the world. I'm grateful.
Pls RT!
55th
#face2face
video from the stable of
@elearnmarkets
Take a notepad and pen with you to learn 360 degree about Price action by the amazing
@PAVLeader
A 85 minutes learning video.
Do you have "fear of execution"?
Do you feel fearful at the time of pulling the trigger?
Do you often feel that you knew this trade would work but you still didn't enter?
If the answer is YES, then dont worry. I will share an article today to overcome this fear
Stay tuned.....
How to read Market/Price Structure
Sharing a simple example of reading a price action chart with Breakout, Pullback & Supply/Demand zone rejection trades possibilities. I hope you will find it useful.
Will it break the supply zone or reverse??
#LearnWithPAL
As promised, I am sharing my quick thoughts & experience on how to trade Pullbacks Vs. Reversals. Hope it will help you improve your trading to a great extent. Happy Learning!
#LearnWithPAL
#TradeWithPAL
Almost every trader start with intraday trading thinking to make big in short time. Over a period of time, he/she realizes that its a stressful method to make money & slowly switches over to slow, steady & compounding method to generate wealth & above all, earn back time!
In my life, I have had thousands of failures, hundreds of wrong decisions & countless of stupid mistakes. But if given a chance to change I would rather NOT....because somehow my past made me what I am today...Not as hard as a Diamond but strong enough to win my battles, my way!!
7 steps for part-time traders:
*Build your system (entry/exits)
*Scan on Weekly & shortlist stocks matching your entry
*Place limit order
*When it executes, place SL
*Set alerts (SMS, App, Email) for TGT1 & TGT2
*Book 50% at TGT1 & move SL to cost
*Ride the trend with trailing SL
This weekend invest time in developing a trading plan for you. This will lay down the foundation you need to be successful in trading.
Sharing the bird's-eye view of a trading plan. Pick what suits your trading style. Happy Learning!
Here is the blueprint of "A Trading Plan". While overall guidelines would remain same, each individual must develop his own trading plan based his style. No single plan would work for all. Hope this helps u to be more disciplined!
Retweet to spread the word. Happy Trading!
I lost 10K in my 1st Options trade in Satyam 410CE in early 2006. Losing 10K from monthly 38K salary was a big pain.
My Indiabulls relationship manager told that money would double in 1 week (Greed) so I took it.
It was an eye opener which forced me to learn TA & be independent
You will never be able to control or predict the outcome of your trade. But you can always control your -
1. Greed when right
2. Exit when wrong
3. Risk
I'm sharing my fav bullish & bearish reversal/rejection candlestick patterns which u shd watch near demand/supply zones to find high probability trades.
Rules:
Bullish - Close shd be in top 80% or abv zone
Bearish - Close shd be in bottom 80% or below zone
#LearnWithPAL
Price is always right like Wife ♥️
Moving Average follows Price like a good Husband 👩❤️👨
They fight, they argue & move away from each other ONLY to come back to be together again.
Price always leads but often slows down until MA catches up.
That's true Love. Isn't it? 😘😘🤗🤗
Do I make losses? Yes
Do I have bad days? Yes
Do I face consecutive SL hits? Yes
But despite of all this
Am I profitable? Yes
Consistently? Yes
Simple reasons:
I follow my rules
I practice extreme patience
I only trade my fav setups
I follow risk management
I'm very disciplined
Short story
A newbie enters market
Watch YouTube
Finds a system
Thinks he cracked the code
Start trading
Make losses
Overtrade to recover
Make more loss
Quits system & look for new
Process repeats
After few years still looking for holy grail & few lakhs loss
Sounds familiar?
After so many years, now my wife has started showing "some" interest in learning TA/PA. For last 2 days she is pursuing me to start the teaching from basics..
Should I be happy or worried? 😀😀😀
@Traders82
#Chapter3
: Price Action Trading Secrets
Disclaimer: I am going to share my experience in Price Action trading. Please note this is NOT at all a Holy Grail or even close so if you are looking for that, please stop reading here.
I have learnt that price action patterns repeat over & over again. Simple reason is that thinking & behavior of people stays the same.
Learn to analyze these patterns & train your eyes to spot them when they appear. Manual chart screening is the only way to learn this art!
I am sharing a
#PriceAction
pattern which I have found very useful & has a high success rate. I suggest you do your own research to get confidence on this setup. More you observe charts manually, more conviction you will get.
RT if you find it useful!
#LearnWithPAL
If profits makes you cheerful for the day & losses makes you gloomy, then you have a long way to go my dear friend. The road to maturity is not easy.
Goal: Don't let the outcome of your trading impact your personal life.
#TradingNirvana
We show a lot of patience in holding on to a losing position. If we show even half of it in holding on to a winning position, we would be rich beyond imagination.
#tradingpsychology
#trading
#Mindset
MONEY MANAGEMENT & RISK MANAGEMENT SIMPLIFIED
Wait is over & I have just published the PDF file to share my experience on this important topic. Hope you will find it useful. Keep learning, keep growing!
#LearnWithPAL
Nothing is more satisfying than
1. Watching your fav setup being developed
2. You wait patiently for it to complete
3. It completes the way you think it should
4. You enter at your desired level
5. Trade works in your favor as planned
6. You exit as per your Risk Reward plan
This could be useful for those who want to learn the known candlestick patterns.
Don't mug up the names, just try to learn the psychology behind these. Good luck!
Here is the cheat sheet of how to read & use
#Volume
to power your
#PriceAction
#trading
. This is the 1st version based on my initial thoughts & I will keep adding more ideas to this document in future. Happy Learning!
#LearnWithPAL
Once you accept a max loss mentally (before entering a position), things become easy. The real stress comes when you experience a loss more than what you can afford & that too unexpectedly. Avoid such situations & you will do just fine!
No matter how many books you read, people you follow on Twitter or YouTube videos you watch, unless you develop the ability to pull the trigger on time to execute the trade, your knowledge has no meaning.
Trading is the journey from "I wish I could do that" to "I did it"
Here is an example of price, vol, EMA21, VWAP, Prev Day H/L plotted on a 15M/5M chart.
Don't just jump into trading "assuming" you got "The Holy Grail". Digest the setup, observe how it works & make your own rules.
Remember, the trading system is NOT the edge.
EDGE is YOU!
The moment you enter into a trade, you compete with some of the best minds in the world. So, going wrong in that trade is absolutely normal.
Even the best traders in the world go wrong in many trades, but what they do well is: Manage Risk
Think Risk first & profits will follow!
My fav time pass for the weekend is to study the stocks which gave gigantic moves in this week. The goal is to learn how they behaved from Price Action & Volume perspective before the explosive move.
This simple exercise has really helped me improved my edge significantly.
Dear friends,
Just wanted to let you know that I am moved to USA this week & it's all for good. That's the reason I was inactive here for last 6 weeks.
I will be away for few more weeks until I settle down here. Thanks for keeping me in your thoughts 🙏🙏
I will be back soon!
Refresher for those who are new to Price Action & Volume trading. Read this book from Anna Coulling (A Complete Guide to Volume Price Analysis) & it will change the way you look at charts. Could be a game-changer for you!
Happy reading, happy learning!
While I am doing the write-up on Price & Volume relationship, I would like to share my hand made representation of the same for you to practice in the interim. This will help you understand what is NORMAL behavior & what is ABNORMAL. More details to follow soon!
#LearnWithPAL
3 simple setups for price action beginners:
1. Trade rejections from supply/demand zones
2. Trade 1st & 2nd pullback after price breaks out of these zones
3. Trade continuation pullbacks on EMA21 once trend is established (2PM & 4PM setups)
Train your eyes to spot these!
Chart patterns repeat by themselves over & over again. As a trader our job is to find such patterns & train our eyes to spot them comfortably on any timeframe. Then build a good risk reward system around that & follow to the core. Simple!
#TradingLessons
No matter how much time you spend on Twitter or YouTube unless you become serious to develop your own trading style & design your own trading system matching your style, you can never win in this game.
Stop asking for a lift. Learn driving & enjoy the journey driving yourself!!
A father said to his daughter “You graduated with honors, here is a car I acquired many years ago. Its several years old but before I give it to you, take it to the used car lot downtown & tell them I want to sell it & see how much they offer you
When you go all-in on one single trade to make BIG
When you over leverage & take more risk than what you should
When you think - Jo hoga dekha jayega, aur ab jo ho raha hai, wo dekha nahi ja raha 😂😂😂😂
Almost everyone finds a good trading system in their 1st year of trading journey but still people fail. Why?
Because instead of focusing on risk mgmt or position size they focus on finding a better system (holy grail) & keep hopping from 1 to another system.
#TradingLessons
Sharing a new
#PriceAction
strategy to trade on multi-Time frame setup. This will help u time your entries in context to the larger trend/structure. Trust it will improve ur trading significantly!
Do share your feedback. Keep learning!
#Trading
#TradeWithPAL
#TechnicalAnalysis
Understanding market structure & supply demand zone can help find good trades when pullback occurs in higher timeframe in an established trend. Draw S/D zones & wait for a suitable entry on lower TF
Here are few timeframe combinations u can try
M/W/D
W/D/H1
D/H1/15M
H1/15M/5M
No matter what tools or indicators you use for trading, your decision making must always be based on price action (supply/demand). This will mostly keep you on the right side.
#TradingGyan
#LearnWithPAL
#Trading
If you want to be successful, rub your shoulders with successful people.
If you want to catch big moves before they happen, study the ones which are already moved & learn how they behave before the move. It's as simple as that!
#trading
99% of your trading issues will be solved automatically the moment you will start "THINKING" like a BIG fund house
Instead of trading 1 lot IF you have to trade in 1000s lots, would you trade the same way? How will you plan things to cover ur risk & make profit?
Think about it!
If you cant see it in 10 seconds, its not there on the chart.
Leave it & move on to the next one. Don't try to forcefully find a setup.
#TradingLesson
#TradingLearning
This is how the professionals get trapped into SISI - Single Income, Single Identity A "mouse" was put at the top of a jar filled with grains He was too happy to find so much of food around him Now he doesn't need to run around searching for food and can happily lead his life.
Don't try to recover your losses at the same speed as you made them. Probability is that you will lose even more - faster this time.
Treat every new trade as fresh without any baggage or emotions & manage your risk well (min 1:2 risk reward).
Check it yourself!
Markets often give us a chance to exit a wrong trade but we dont exit because we try to satisfy our ego, trying to prove or justify our entry right to stay in the trade.
Maturity is when you exit a wrong trade as soon as you realize it. Comes with time!
If you are a Price Action beginner, focus on just 1 setup to have max results. Choose 1 from this
1. Rejections @ supply/demand zone
2. Rejections @ EMA21 (2PM Bull, 4 PM Bear setup - Refer my Trend Strength Meter tweet)
More u train ur eyes on this, better u get each day!
NEVER
1. Trade without SL
2. Increase quantity after a loss trade
3. Trade with borrowed money
4. Do revenge trading (to recover ur loss)
5. Force a trade. If u cant see it, it doesnt exist
6. Trade when u r busy with something else
7. Trade in F&O if u arent profitable in cash
When you buy Options (Call or Put), the max risk is your invested amount. While reward potential is huge, we need to be right on direction & the move needs to happen in our favor quickly. This requires a high degree of precision as we race against time.
#PAVOptionsClass
Wait is over! Here is the link to download 25 years (Nov1994 - May2019) of NSE cash bhavcopy (5874 files) in .txt format. Will be helpful to back test your trading strategies. Enjoy & spread the word to those who need it!
#LearnWithPAL
Make a habit to withdraw partial profits regularly from your trading account & spend that money on a family vacation, buy a gift, do some charity or treat yourself with something special.
By doing this your belief gets stronger that trading works and the money is REAL!
One of the reasons I like trading is that it keeps your hopes alive to do something big. Its a reminder that its an individual skill game & as long as I am committed to learn & improve, I can do better tomorrow & every time I make big profits, this belief gets stronger!
..and the family gets bigger to 75000!
You’re a friend, you’re a critic & you’re the motivation to help me focus on my goal -
"Share what you have & learn what you don’t". I promise to keep sharing & keep improving.
Thank you for your continued support 🙌
God bless you all!
Trading is only business where bad start can be counted as a blessing. More you grill yourself today, better you become for tomorrow. Learning never ends!
No matter how confident you are, never overbet on any single trade. An oversize position that makes you uncomfortable is likely to go wrong. Even if you get a good entry, it's highly unlikely you will ride it till the end
Overspeeding kills on road, overbetting kills in trading!
Moving Average slope can act as a trend strength meter & if clubbed with price action rejections it can be a killer combination. A simple yet very effective setup if eyes are trained well to spot it.
#LearnWithPAL
#Trading
#TechnicalAnalysis
Conviction in trading comes from:
1. Reading
2. Screen time (chart analysis)
3. Discuss ideas with likeminded people
4. Backtesting
5. Execution: start small, scale slowly, go big
Which one is your fav?
My wife's trading account in Robinhood is active now & is micro funded with $1000
My only advice to her was
Dont try turn this $1000 into $2000. Just try to protect blowing this $1000 first 🙂🙂
Here is what she did in 1 week after 2 weeks of education on Price action.