Thread by @KatariyaPran

Have had a number of DM's following the elearning video. Clarifying some issues. Please understand I am not an intraday Trader and obviously my methods will not apply to short very term time frames. The first was on how I identify levels

I do it in the evening after the Market and I look at Support or Resistance on Candlestick Charts Also for common Patterns both for entry and failure. I look at P&F Charts- 1% on a daily TF. I will also use Relative Strength to identify sectors and the best/worst stocks in them

Will also look at Renko Charts as Swing Points are easier to identify on them. Sometimes I will also look at OI for underlying where I have larger stakes. Of course will always keep an eye on IV's. Once I have these levels, I will use them to take positions the next day

One important thing that I have learnt after suffering many losses is not to look for new levels in live Markets. All my days Trades- entries or exits- are based on levels identified the previous evening. This is my response to the Psychological stress Markets put one under.

Also many queries from Traders who were Profitable when they were Trading full time but started losing when they started doing it full time. This is a common problem and the answer is watching live Markets attracts activity. Resist the temptation to take Trades out of boredom.

Concentrate on keeping your Trades to the bare minimum by focusing only on your very best setups. Also there are questions on whether one should be watching the Markets full time or relying on alerts. There are many views on this but I am in the watching them full time camp

A study was done in by an NBA team on 3 groups of players- those playing regularly, those watching the ones playing and those taking time off. It was found that,while naturally, the first lot improved, surprisingly the second lot did too. Obviously the third lot didn't

Watching charts hones your skills and improves your instincts in ways you cannot even imagine. Sometimes this built up instinct is all that stands between many losing Trades and many winning ones. Psychology?- if you want to be a Professional Trader- learn to deal with it.