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Friday, February 01, 2008

Tips for the first-time online trader - II

In the first part of this series, we tackled the logistics and the mechanical aspects of online trading. In this concluding piece, we acquaint ourselves with the “nuts & bolts” of online trading. By the time you implement this part, you will have mastered the basic-to-intermediate aspects of high pressure trading, and can count on trading for a living. Some “practice” and “live and learn” lag time must be allowed for, though.

Inflection points - laser precision levels
We all know that profiting from trading means buying at the right prices and selling at the right prices. But are all price points created equal? The answer is an emphatic no. We created a setup where you tend to go long closer to a support level as specified in the Nifty hourly support table issued everyday. The resulting consistency in profits was far superior to the long positions initiated at random even in a raging bull market. Add the Fibonacci pivots and you know just exactly when a stock/ index/ commodity turns bullish during the day, what are your stop loss and profit-taking motive prices. [for more click on the heading]


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