This is my trading file to organise and jot down my take on the market .I do Technical Analysis. This blog is to keep track of my baby steps so that I can look back at my journey .Looking back tells me how far I have come from days when I knew nothing and can go further .It gives me motivation to keep going on even when I am tired. One has to back up trading with their own studies. The charts I post here are 99% inspired from Ilango sir.



Monday 2 July 2012

2nd July 2012

Spent my weekend reading " The  complete guide to Day trading " by Markus Heitkoetter .
After I finished  reading one thing that I can't seem to forget is " A monkey can enter a trade , but money is made ( and Lost) when a Trader exits the trade " .

It seems all these books are written just for me .

Before one starts to trade one has to know
First and foremost is to determine the Trend . When the trend is Up , avoid selling and vise versa.
Make small but consistant profits .
One HAS to close the trade if either Target Hits or SL hits. NO staying on for a bit longer.
Discipline and Patience is the KEY to success.
Keep your trading as simple as possible .

having said that lets get to the charts ....
Following is the day chart with trendlines drawn from recent low of 4770