Strategic Acquisitive Trader 🐿
Not a Fraud Neither a Saint ♻️
#Prodigals_Private_Pride
🌹
Did Not Even See SEBI 😉
Pleasure, Peace, & Profit (For Myself) 🪙
all the useful ( which i think are useful) threads are compiled in one tweet.
its meant to get all the useful infos in one place
pls chk the comments below
If u are looking to enter a scrip just before the breakout
what would u look for?
How would u identify scrips just before breakout?
Here are a few pointers
Carefully understand the them and use at ur own discretion
(All comments r compiled from a question i posed)
1/23
Created a private channel in Telegram
Where i would post worthy contents to the deserved followers
who shows good manners and thurst to learn.
Will send channel link to selected few people from new year onwards
Its a free channel, only restriction is to avoid thankless guys
i will disclose a method by which u can get good scrips near to bottom of a correction
Its based on Elliott wave concepts
basic coding skills enough create a scanner
potential quick gain scrips can be filtered here
Will post it when the tweet hit 300 (<1% of followers) RT
if ur capital is 10 Lakhs,
u make a profit of just 2% everyday,
Do u know,
how much money u would be having
after an year (250 trading days) ???
14 CRORES !!!!!!!!!
now, relate it with twitter heros
Chartink Scanner Alert
Check the following list if they are trading in very tight range.
If i get at least 2% of my followers 'Like' and 'Repost' this tweet, i will share the scanner here in twitter for everyone's use. 😉
if u risk only 1% of capital, it will take 69 continuous losing trades to lose half ur capital
if u win continuously with 1% gain each time, it will take 69 trades to double ur capital
#riskmanagement
using
#positionsizing
alone will fetch success in
#trading
in
#StockMarket
Derivative data analysis is a long kept secret
&
those who r master at it, rarely talks abt it.
Its a leading indicator to major price move
if u r capable of interpreting the data strcture & anomalies in it
OI interpretation of Put/Call option w.r.t. IV & PCR of options
i will post 5 sensible methods for stock slection for swing trading tonight
trick is to find a trending scrip and catch it while it still persists
they are simple methods, not "advanced" ones
those who are interested may RT the tweet
Swing trading set ups
1. Pin bar at 200EMA in daily TF
2. Stocks riding through upper Bollinger Band in daily TF
3. Hidden bullish divergence
4. Price at horizontal channel bottom
5. Anchor vwap support from past major swing low
6. Price retesting previous ATH after breakout
I will open a Paid Telegram Channel towards this month end.
Contents:
-Charts with complete price, volume explanation
-Strategies and scanners
-deatailed write ups on important subjects
-No trading calls
Fee: RS 400/month
Further details later
How to recognise the strong sector?
Widely practised method is that to check the relative strength against the market. Here is the performance of each sector since nifty started falling. We can fairly accurately conclude that, we must look at PSUBANKS, METALS, AUTO
1/11
I came into market with 20,000/- capital. I was thinking to double it one 1 or 2 weeks. But after 2-3 trades, entire focus shifted to not losing the remaining capital !!!
I started buying 1 or 2 shares to keep lose minimum.
Essentially this what made me to survive in market
Trading retest of a Break Out is a common concept & widely looked as so simple
Bt, in reality, its so tough
Knowing the mechanism behind it would help to trade those better
Kindly retweet as a gesture of appreciation
(honestly, not aiming it as publicity stunt)
How to desogn a trading system???
Ur trading system should contain 2 parts
1. Define context
2. Entry exit set up and rules
Let's see them in detail
1/16
I have promised to share a scanner for finding the tight price move
Here is the link
Repost it for maximum reach so that most of the needy guys get to know it
Today wrote a small write up on
"Multi Time Frame Analysis Using Ichimoku & How to Design a Trading Plan Based on that"
RT & Download the article from the abv link
94 Chartink scanners i prepared last year 2023
Along with the conditions for each scanner
Access is restricted; Like and Repost
Happy New Year 2024 to all
Is there any audience for Current Sector Analysis in NSE universe
Best Sectors for next few months
Breadth based on sector analysis
How to see Sector Rotation in either direction
I will write a detailed thread on it if at least 1% of my follower base "Like" this tweet
ITC
There is only one stock which is discussed more than nifty, banknifty or reliance
No other scrip has ever devided the trading commnunity into two as much as ITC did
Looks very bullish
#PriceActionLanguage
I have promised to share a write on the method to short list stocks for day trading
you can find the article here
Password:
@prodigal_trader
Please ReTweet maximum. So that the query for this method will be settled once and for all
How to trade with least Risk??
Price move in market is always controlled by either of the following mechanism
1. Momentum - Trend
2. Reversion to mean – Counter Trend
See this picture for clarity
1/22
Chartink scanner for following conditions made upon requests
1. Stocks about to make Multiyear Breakout
2. Consolidating after 100% move in 8 weeks
Access is restricted; Like and Repost
15min TF- king in lower time frames
15 min is the TF which rules the day trading
Patterns rarely fails in this TF
One doesn't necessarily need to trade this TF
Bt he must align his trades with 15min TF trend
Use a combo of 15min (trend) & 3min(trade)
#trading
#StockMarket
Price Structure = Trend
Volume/OI build up = Force behind the trend
Volatility = Stability of the trend
Momentum = Strength & Continuity of the trend
Find/create tools to measure these objectively
You might end up very close to being consistant in success
#trading
#StockMarket
#OptionChainAnalysis
confuse many people
Its quite simple actually
Example,
If OI increased in ATM or nearOTM CE,
Chk when OI added,
if premium was low & it increased while OI addition.
strong hands may b on buy side,
low Premium may not attract writing
Expect strong uptrend
Moving Average is the fair price (FP) of that stock
A 20 period MA, gives short term FP,
50 for medium term
&
200 for long term.
Abv MA, its overvalued
Below, undervalued
Buying close to MA means u bought at fair price
That belief is the reason y
MA acts as support.
#trading
If ur profit in a trade is 2.5 Lakh, u will have to risk 1 Lakh or above. There is no glamorous way of losing just 1000/- when u are wrong and magically make multiple lakhs when u are right.
Bigger profit is the product of higher risk, not the miracle from strategy !!
These are the Twitter Threads I Wrote in Last One Year.
Titles are Given in the Images; 31 of them.
I Made it Available as a Single File Containing All the links in One Place.
Those Who Want it
"Like", "Comment" & "Retweet"
& Send the Images to
prodigaltrader.in
@gmail
.com
For an absolute beginner, what r the tools to start charting?
Candle stick chart - to guage Price
Bollinger band - to guage Volatility
SMA 20, 50 & 200 - Short, Sedium & Long term Trend
MACD - Measure Momentum
ADX - Trend Strength
Dont listen to who preach dont use indicators
I will post a list of 10 scrips
which are in major wave 3 as per elliott wave strcture
bt, at present consolidating in a small range without loosing its trend strength
Those can be considered for analysing with an investment perspective
RT if its interests u or benefits u
#Candlesticks
tells u what price is doing at key points
#Volume
tells u how much force is there behind Price
#RSI
tells u how much capable Price & Volume are in enforcing what its trying to do
&
#BollingerBand
tells u how volatility varies when all these are happening
Scanner which sort out the most bullish scrips in all time frames
MACD>0 in monthly, weekly and daily TF
This scanner will help u to find scrips
while trending market when scrips are breaking out
while bear market to filter strong ones
RT if useful
I don't take delivery trades
Hence don't trade equity
Rarely posts such charts
But, I track strong scrips
&
track their charts as well
Do u want me to post equity charts?
When the trend reversal happens, it's starts from the lowest time frame
&
then it traverses upward to next higher time frame
A new trend in 5min TF,
would last 1-2 hrs
&
If that trend happens to progress to 15min TF,
trend would last the whole day
Here is a scanner for Episodic Pivot. Its slightly different from the general ones available in google as i made it to remove all the unnecessary noises
Like & retweet as access is restricted to those who do that
Six Potential Day trading Scanners
1 Price at 200 MA/EMA
2 Inside bar near major supply/Demand zone
3 Volatility compression patterns such as NR4, NR7 etc
4 Scrips trading at 52 weeks highs/lows
5 Scrips which have high OI build up recently
6 Top Price gainers/losers last week
Ichimoku as a trading system is designed to catch a trending move
One logical way of doing it is
find a scrip which is bullish in monthly and weekly TF,
then wait for a pullback to daily cloud support,
upon reversal from there,
it's a high probability long trade
Ranking based on Trend strength
Long term trend ranking for Medium term trading (realty, energy, PSE)
Short term trend ranking for Swing Trading (fertiliser, railways)
Access Restricted; Like and Repost
LImit ur trading into this universe
When I start my YouTube Channel
It will be completely different from aal the other YT channels
My Channel will only have Basic & foundationary Stuffs !!!
Useful only for newbies/struggling traders
Unlike most of the existing ones with “Advanced” or “High Profile” contents !!!
Here is a chartink scanner for finding the stocks which resisted the market's mighty fall on last wednesday, rather was on accumulation for further upmove
Access is restricted, Like and Retweet
When u start following a simple Startegy religiously,
u will b a break even trader from a loser.
When u add risk management & scaling in into it,
u become consistently profitable.
When u start compounding with methodical position sizing,
u r on the way to becomes a great trader
Year 2021
I will open a new Telegram/YouTube/Website,
(paid ofcourse)
to offer high-quality unique trading related info
I will start
"ProdigalTrader Academy of Trading"
to offer Quality Education
How to interpret
#OpenInterest
in
#futures
?
If OI is rising,
whereever the price is going to,
thats the major trend,
Trade it
If OI is falling,
no matter where price goes to,
it isnt the trend,
its Liquidation,
Dont trade it
#priceaction
correlation with
#OI
is quite simple
My biggest misunderstanding about market was
whenever there is a bullish bar,
the volume shows is buyers volume
Only much later,
I came to know that
buyers and sellers r always equal
and
volume analysis has completely different perspective
What's ur biggest misunderstanding??
There are 4 types of harmonic patterns out there
based on the retracement leg ABCD
A comprehensive cheat sheet for every pattern in each leg is very desirable for a budding trader who is new into harmonics
Pls ReTweet as appreciation if the info is worthy of doing it
If ur capital is less,
Like 1-2 lakhs or even lesser,
unless u r looking for riding big winner trades till day end,
best way is to scalp the high momentum movers
so that u can free ur capital fairly faster to look for another quick oppprtunity
Option Chain analysis confuse many people
Its quite simple actually
For example,
If OI increased in ATM or nearOTM CE,
Chk when OI added, if premium was low & it increased while OI addition.
Smart money buy in that case,
They wont write if premium is less
Expect strong uptrend
What is the one book which completely changed ur trading process and the approach towards it?
Mine is
"A Complete Guide to Volume Price Analysis"
by
Anna Couling
What's urs?
I will start a Telegram channel on Sunday
Name: ProdigalTrader
Link:
I will post a write up on
10 set ups I use to shortlist
stocks to prepare my final daily watchlist
NB: whatever I post here, will post in Telegram.
Nothing more nothing less
How to design ur own trading system?
itz not just entry exit rules
A whole trading system ivolves lots of things
i will post a comprehensive yet brief ouline tonight
RT >200 to make it happen
Stock selection methods for swing
these r based on picking a trending scrip to trade
in which case mometum is supposed to be very high that
it would sustain atleast
till we plan to complete the trade (2-5 days)
RT if the content is worthy enough to spread across
thanks
Breakout may b the most desirable technical terminology among fintwits
Here is a free scanner to filter quality breakouts
based on least resistance ahead, strong demand and good breakout bar momentum
pls RT if its useful
I have posted about a chartink scanner to pick quality breakouts.
The results will disappear if the BO bar which is being formed failed to close near the top. If anyone want to avoid that, disable the first line and activate the second line
How would u obejectively determine 'Bullish Stocks"
in case if u want to create a mechanical scanner for that
here are 15 directives for that
1st time making ATH after 6-12 months consolidation
1/8
Nifty_F1
This is how price action should be read.
U need to take the context into account first before drawing conclusions.
All the points leads to a strong uptrend from here
If at all anyone interested, i will share the priority watchlist i prepared one next 2-3 weeks in excel format here.
Sector strength
Good last quarter
Good on chart
Non penny and liquid
If u choose to b a breakout trader
b ready to trade with wide SL.
If u choose to b a pullback trader
b ready to hit ur SL too often.
If u are a breakout retest trader
b ready to watch many breakouts go up without retest.
Everything have own consequences
B ready to live with it
Unfollow all
MTM tweeters
Thanks/compliment Retweeters
Hype creators
Prediction experts
Abusive handles
Handles doesn't update failures
U will find <50 handles worthy 2 follow
Bt, timeline wil b clean
No negativity at all
Ur learning/trading wil improve drastically
Am doing it
Leading indicators in
#StockMarket
Market breadth
Derivative data
Vix
Volume
Best Live indicator
Market profile -
#trading
auction
People worshipping
"price is ultimate"
fails 2 appreacite that
smart money takes position b4 actual move happens
which rarely refelct on price
I wrote my entry/exit rules - removed all subjectivity
I coded and backtested them - built trust and conviction on my trading
Now I know there r minimum 3 excellent signals I get everyday.
Removed all my insecurity abt uncertainty of finding a new trade
When u c some handles which literally posts nothing useful 2 anyone hav huge followers, its strange
But its even stranger, when u c many worthy handles remain unpopular despite putting their best efforts in educating the herd
People fails 2 find value
usually follow honey traps
Choose a single instrument to follow every day;
#Nifty
,
#banknifty
or any other high volume stock.
Watch its chart everyday and prepare trade plan daily with it.
Within 4-6 months, u will develop far better insights in trading beyond the best text books available out there
Elliott wave analysis is the most elusive topic among novice traders.
Its deemed as very tough to learn
&
many traders fall pray to trap lured by fake trainers
Nick Radge already solved by giving out most comprihensive presentation in it
RT & download
Wife: I never seen a lazy guy like u. U don't move even a finger
Me: Showed my trading performance for last few weeks with a smile on my face
Wife: Oh, I already read, trading success needs the ability to do nothing & just wait
U r the best guy to do nothing
No surprise
🤣🤣🤣
Episodic Pivot !!
List of stocks with tremendous gap up out of nowhere and had at least made 50% return post that.
Symbol name
Date of EP
Days post EP
Max return post EP
As usual access is restricted to those who like & retweet.
Since this March,
I have made so much of useful contents here
at very high frequency
The reason
I was enjoying sort of bacheloresque life in this lock dn times
That's commin to an end now
Will look after myself more than anythin from next month onwards
Hope traders benefitted
I am anouncing a private Telegram channel to share educational contents
Confluence - ProdigalTrader
Fee: Rs 400 for 30 days
All details are given in the picture below
Those who are interested may either
DM here
or
mail to prodigaltrader.in
@gmail
.com
(will reply in 24 hrs)
On Breakout,
"Too far away, wait for pullback"
While pullback,
"Too bearish, wait for reversal"
After reversal bar,
"Not enough volume, Wait"
After Volume surge,
"Will Long on close abv last bar"
Now, closed abv last bar,
"Aaaahh !!
Too far away
Wait for a pullback"
A high proabability Head & Shoulders v/s An Amateur Pattern
patterns are mere consolidations after a trending move.
it can assume any shape,
few of which we hav named & studied.
But mere shape,
doesnt mean anything,
integrating demand & supply into makes it a strong one
Dried up volume along with tight price action is hottest strategy since last many months in social media. Here is a basic scanner for that purpose. (Prepared on request)
Retweet will maximise the reach.
Do the needful as u wish
Congrats India
Rohit lead to WC and Kohli man of the final
A great tale
Here is a list of stocks which are both tight and under volatility contraction
I have posted a detailed thread on it today.
Do chk it out, if u havent already
Correlation of a complex Wyckoff accumulation schematic with a rather simple Dow theory
@PAVLeader
@RajarshitaS
@sanstocktrader
wyckoff schematic general figure is available in net. It was taken and added the abv interpretations. pls RT if contents are worthy of doing so
Moving Average is the fair price (FP) of that stock
A 20 period MA, gives short term FP,
50 for medium term
&
200 for long term.
Abv MA, its overvalued
Below, undervalued
Buying close to MA means u bought at fair price
That belief is the reason y
MA acts as support.
#trading
A HandBook on
@ProdigalTrader
's Pinned Tweets
A compilation of all the useful tweets i have wrote in the past 2 years
Compiled by
@Swapniltrader
Download and study the topics discussed in it
I made a scanner for stocks which had vertical rally of >30% in <10 days in last 8 weeks.
Applied few primary filters to ensure liquidity, removed penny stocks & avoided if trend is bearish
45 Stocks remained
In that 31 of them had same chart set up before the rally begun !!!!
Until u show urself as profitable trader, ur relatives wont spare u from counselling off the "gambling" nature of stock market.
The moment they know u are prfitable, they wont spare u from asking stock recommendation and managing their money.
Torture is a surety either way
😂😂
honestly,
in this country i found only one channel in YT with genuine advanced contents
that belongs to
@ST_PYI
The reason its advanced is he insists on basics and the clarity he provides on it is second to none
When I start my YouTube Channel
It will be completely different from aal the other YT channels
My Channel will only have Basic & foundationary Stuffs !!!
Useful only for newbies/struggling traders
Unlike most of the existing ones with “Advanced” or “High Profile” contents !!!
Top 10 Stocks with high and increasing relative strength in NSE universe. These stocks have the best chacne to give a good up move if they give a breakout here
2 kinds of stocks which we can look for going long
1. Stocks near to 52 Week High
2. Stocks recently comin up from 52 week Low
Both needs different approaches as well
Mark Minervini style suits Type 1
While
Wyckoff/StanWinstein style suits Type 2
If u mix them, u r in mess
Price correlation with volume & volatility
is a one of my favourite tool in analysing the trend & the variation in it.
Now,
how high is high volume?
How much is high volatility?
make ur own tools,
standard/default indicators arent much useful here
2min TF - trend lasts for 15-20min - scalp in first hr
5min TF - trend lasts for 1-2hr - day trade
15min TF - trend lasts whole day - day trade typically squire off
@3
.30
75min TF - trend lasts for 2-5 days - swing trade
Daily TF - trend lasts for 15-20 days - short term trade
ur portfolio worth 1 Lakh at the time of investment
U being a beginner, looking for a paltry 1% increase every day for the next 1 year
Here comes the reality
Final amount = 12, 03,215.50/-
12 Lakh 3 thousand 2 hundred and 15 rupees, 50 paisa !!!!!!!!!!!!!
1100% return !!!!!!!
Ur trading decisions will improve If u
Meditate/exercise
Take bath
Read Ur holy book
&
Had a healthy conversation with parents, wife & kids
All in the morning
Keep Ur environment positive
Ur mindset will b positive then
Ignite clarity in thinking
That's great start to the day
Elliott wave theory says price moves in 5 waves up and 3 waves down
Let’s concentrate on the 5 wave up move part.
Here wave 1 is analogous to the first higher high after deeper correction. Here trend reversal sets in.
1/7
i will disclose a method by which u can get good scrips near to bottom of a correction
Its based on Elliott wave concepts
basic coding skills enough create a scanner
potential quick gain scrips can be filtered here
Will post it when the tweet hit 300 (<1% of followers) RT
Consider Price as a Car
Then
Volume is the driver
&
momentum is how well u r maintaining it
When u try to buy a scrip
essentially, u r the passenger in it
U dont own the car
not even u drive it
Choose a good car with good driver
Dont assume urself as the driver
@ProdigalTrader
How to choose time frame ?
375 minutes in a trading day
Any number which devide 375 into a whole number, can be chosen as TF
3,5,15,75,125 all devide 375 into whole number & hence can be chosen as Ur TF
If u choose hourly TF,
375/60 isn't whole number
4hr TF too
Avoid them
If u want to join 5am club, u first need to join 7am club, 6.30am club, 6am club and 5.30am club in this sequence.
If u think of 8am club to 5am club directly, probably u will keep planning it, never exercise it.