Contents on this site are merely my views about stocks and futures. I am an eager trader and stock markets are a great motivator for me.
I have tried various methods in TA over past few years, but none of them are perfect. Every expert in the market will advice to stop your losses and ride the profits. However my experience says, everytime I put a SL, it gets hit. When I try to ride a profit, it eventually ends up in loss or small profit. I have learnt that profits will turn into losses very quickly in stock market. But losses somehow does not turn so quickly into profit, although the probability should be 50-50 both ways.
However, over the years as I looked at charts to find proper stops and entry, I realised that there is always a perfect SL available which does not get broken. Tops and bottoms are perfect SL. They never get broken unless the wave changes. So I decided to trade with SL placed at only tops and bottoms of any wave structure. As long as the wave continues, your SL will never hit. So there I get my perfect SL. Now only thing required is to identify a wave change (whatever time frame you choose like 5min, 30min, 1day or 1 week). Once you are able to identify a wave change, you can ride the trade in profit. However if you wrongly identify a wave change, your SL will ensure you don’t ride a loss making trade. This will force you to redraw and analyse wave structure and come back with better entry into a trade.
Try this method on your own and you will realise, you don’t actually need any TA.