Mr. X marked 1500 as a strong support in HDFC Bank. Next day, stock opened at 1510, came down and hit 1500.
ABC went long in the stock. A few minutes later, stop got triggered. What went wrong here?
(2/n)
Common price action trading mistakes that cost me lakhs of rupees:
A thread 🧵
1. Front running the market based on my analysis:
Any analysis we do should be proved by market as correct before we jump into a trade.
How?
(1/n)
Mr. X marked 1500 as a strong support in HDFC Bank. Next day, stock opened at 1510, came down and hit 1500.
ABC went long in the stock. A few minutes later, stop got triggered. What went wrong here?
(2/n)
At supports and resistances marked by a trader (you), wait for market to show the stock is actually taking support/resistance at those levels.
(3/n)
Essentially, on a lower TF, check for bullish price action at support, bearish price action at resistance before you enter the trade.
(4/n)
If you are a price action based trader, the most important guiding principle for you is:
1. Higher the timeframe, more accurate and reliable the technical analysis
2. But big moves start on small timeframes first.
(6/n)
The key is to balance these two principles and have a structure where you analyze markets on a TF and trade on a TF which complement each other.
(7/n)
If you are a day trader, do not pick stocks on 15 mins TF and trade on 15 mins. Switch your analysis to hourly TF/daily TF.
It will help avoid choppiness in the markets to a large extent.
(8/n)
A divergence is a signal for a potential reversal which MAY occur, but not a confirmation.
Just taking reversal bets on divergence will sooner or later burn big holes in your pocket.
(9/n)
Every divergence does not mean reversal and every reversal does not come with divergence.
(10/n)
Some people use RSI, MACD, Stoch RSI all on one chart.
On a minute basis, even though these oscillators have their own differences, fundamentally on a broader perspective, they have the same purpose.
(11/n)
So, pick one oscillator and do not clutter your chart and minds in live markets.
(12/n)
This could get a bit unpopular but I like to put the truth out:
Bullish candle patterns work well in bull markets and bearish patterns work well in bear markets.
(13/n)
(14/n)
More from Killer Trader 📉📈
Nifty basic volume profile analysis for today:
Yesterday, shared about various types of volume profile analysis and how to prepare for next day. Read here
We had discussed that a "p" shaped profile and close at highs indicates longs are in control of the market.
It also indicates high chances of uptrend continuation next day.
But
(2/n)
How to trade a failure of trend continuation? Yesterday, we saw a "P" shape profile in Nifty and close at highs.
But we failed to continue upmove today.
(3/n)
We opened positive but the opening breakout not sustaining is first cue to understand that bulls are lacking initiative to push prices up further.
(4/n)
For confirmation, one can use orderflow as well to see real time supply demand flowing into the market.
At open today, we saw fresh sellers coming in a bullish opening.
(5/n)
Yesterday, shared about various types of volume profile analysis and how to prepare for next day. Read here
How to analyze Nifty using various types of volume profile:
— Trader Abhishek (@KillerTrader_) September 5, 2022
A thread \U0001f9f5
(1/n)
We had discussed that a "p" shaped profile and close at highs indicates longs are in control of the market.
It also indicates high chances of uptrend continuation next day.
But
(2/n)
How to trade a failure of trend continuation? Yesterday, we saw a "P" shape profile in Nifty and close at highs.
But we failed to continue upmove today.
(3/n)
We opened positive but the opening breakout not sustaining is first cue to understand that bulls are lacking initiative to push prices up further.
(4/n)
For confirmation, one can use orderflow as well to see real time supply demand flowing into the market.
At open today, we saw fresh sellers coming in a bullish opening.
(5/n)
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👨💻 Last resume I sent to a startup one year ago, sharing with you to get ideas:
- Forget what you don't have, make your strength bold
- Pick one work experience and explain what you did in detail w/ bullet points
- Write it towards the role you apply
- Give social proof
/thread
"But I got no work experience..."
Make a open source lib, make a small side project for yourself, do freelance work, ask friends to work with them, no friends? Find friends on Github, and Twitter.
Bonus points:
- Show you care about the company: I used the company's brand font and gradient for in the resume for my name and "Thank You" note.
- Don't list 15 things and libraries you worked with, pick the most related ones to the role you're applying.
-🙅♂️"copy cover letter"
"I got no firends, no work"
One practical way is to reach out to conferences and offer to make their website for free. But make sure to do it good. You'll get:
- a project for portfolio
- new friends
- work experience
- learnt new stuff
- new thing for Twitter bio
If you don't even have the skills yet, why not try your chance for @LambdaSchool? No? @freeCodeCamp. Still not? Pick something from here and learn https://t.co/7NPS1zbLTi
You'll feel very overwhelmed, no escape, just acknowledge it and keep pushing.
- Forget what you don't have, make your strength bold
- Pick one work experience and explain what you did in detail w/ bullet points
- Write it towards the role you apply
- Give social proof
/thread
"But I got no work experience..."
Make a open source lib, make a small side project for yourself, do freelance work, ask friends to work with them, no friends? Find friends on Github, and Twitter.
Bonus points:
- Show you care about the company: I used the company's brand font and gradient for in the resume for my name and "Thank You" note.
- Don't list 15 things and libraries you worked with, pick the most related ones to the role you're applying.
-🙅♂️"copy cover letter"
"I got no firends, no work"
One practical way is to reach out to conferences and offer to make their website for free. But make sure to do it good. You'll get:
- a project for portfolio
- new friends
- work experience
- learnt new stuff
- new thing for Twitter bio
If you don't even have the skills yet, why not try your chance for @LambdaSchool? No? @freeCodeCamp. Still not? Pick something from here and learn https://t.co/7NPS1zbLTi
You'll feel very overwhelmed, no escape, just acknowledge it and keep pushing.
1/“What would need to be true for you to….X”
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
Trending news of The Rock's daughter Simone Johnson's announcing her new Stage Name is breaking our Versus tool because "Wrestling Name" isn't in our database!
Here's the most useful #Factualist comparison pages #Thread 🧵
What is the difference between “pseudonym” and “stage name?”
Pseudonym means “a fictitious name (more literally, a false name), as those used by writers and movie stars,” while stage name is “the pseudonym of an entertainer.”
https://t.co/hT5XPkTepy #english #wiki #wikidiff
People also found this comparison helpful:
Alias #versus Stage Name: What’s the difference?
Alias means “another name; an assumed name,” while stage name means “the pseudonym of an entertainer.”
https://t.co/Kf7uVKekMd #Etymology #words
Another common #question:
What is the difference between “alias” and “pseudonym?”
As nouns alias means “another name; an assumed name,” while pseudonym means “a fictitious name (more literally, a false name), as those used by writers and movie
Here is a very basic #comparison: "Name versus Stage Name"
As #nouns, the difference is that name means “any nounal word or phrase which indicates a particular person, place, class, or thing,” but stage name means “the pseudonym of an
Here's the most useful #Factualist comparison pages #Thread 🧵
What is the difference between “pseudonym” and “stage name?”
Pseudonym means “a fictitious name (more literally, a false name), as those used by writers and movie stars,” while stage name is “the pseudonym of an entertainer.”
https://t.co/hT5XPkTepy #english #wiki #wikidiff
People also found this comparison helpful:
Alias #versus Stage Name: What’s the difference?
Alias means “another name; an assumed name,” while stage name means “the pseudonym of an entertainer.”
https://t.co/Kf7uVKekMd #Etymology #words
Another common #question:
What is the difference between “alias” and “pseudonym?”
As nouns alias means “another name; an assumed name,” while pseudonym means “a fictitious name (more literally, a false name), as those used by writers and movie
Here is a very basic #comparison: "Name versus Stage Name"
As #nouns, the difference is that name means “any nounal word or phrase which indicates a particular person, place, class, or thing,” but stage name means “the pseudonym of an