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Support is a key concept in technical analysis that refers to a price level at which demand for a stock is strong enough to prevent it from falling further. Trading in support involves identifying these levels and using them as a potential entry point for a long position. To trade in support, follow these steps: … Read more
“Market Wizards: Interviews with Top Traders” by Jack D. Schwager is a classic book that features interviews with some of the most successful traders of our time. Here is a chapterwise brief summary of the book: Chapter 1: “Making It in America” – This chapter features an interview with Michael Marcus, who started as a … Read more
“Trading in the Zone” by Mark Douglas is a book that focuses on the psychological aspects of trading and provides practical advice on how to develop a winning mindset. The book is divided into ten chapters, each of which covers a different aspect of trading psychology. Here is a brief summary of each chapter: Overall, … Read more
“Reminiscences of a Stock Operator” by Edwin Lefèvre is a classic book that follows the life and career of Jesse Livermore, one of the most successful traders in history. Here is a chapter-wise summary of the book: Chapter 1: The Boy Plunger – The chapter introduces Jesse Livermore and his early days as a “bucket … Read more
Developing a trading plan is an essential step for any trader who wants to succeed in the markets. Here are some steps you can take to develop a trading plan: Remember that a trading plan is a living document that should be reviewed and updated regularly to reflect changes in market conditions, your trading goals, … Read more
One of the most commonly used strategies by day traders for index trading is the opening range breakout strategy. This strategy involves identifying the high and low of the first 30 minutes of trading for an index such as the Nifty or the Sensex, and then buying or selling when the price breaks through this … Read more
Trend Following : Most common strategies that Indian traders use for trading for Day trading and swing and long term investment in stock market and index i.e nifty Bank nifty and nifty. There are several common strategies that Indian traders use for trading. Here are some of the most popular ones: It is important to … Read more
There are several bearish candlestick patterns that are widely used by traders in the Indian market. Here are some of the most common ones: Bearish Engulfing Pattern: This pattern consists of two candles – the first is a bullish candle and the second is a larger bearish candle that engulfs the first one. It is … Read more
A bullish candlestick pattern is a pattern that indicates a potential bullish trend reversal in the market. Bullish candlestick patterns are characterized by a small or non-existent lower shadow, and a long upper shadow, with a body that is typically green or white. Here are some examples of bullish candlestick patterns: Traders can use bullish … Read more
Candlestick patterns are a popular tool used by traders to analyze financial markets and identify potential price movements. A candlestick chart displays the price movement of an asset over a given period of time, and is composed of individual “candlesticks” that represent a single period of time. Each candlestick has a “body” and two “wicks” … Read more