How do I learn to read historical charts?

I want to learn how to actually read historical charts and understand which setups work in which market conditions. I’m currently reading The Art and Science of Technical Analysis by Adam Grimes. I’m on part 3, where he explains different setups along with rules for entry, stop loss, targets and risk management. I understand the rules, but I don’t really know how to actually read a chart, where to spot these setups, and what market conditions they work best in.

I’m currently on tradingview using the replay feature, looking at historical charts drawing trendlines wherever I can, and marking highs, lows and swing highs. But I’m still unable to understand where to enter, where to set my stop loss, and where to set my target, even though I understand the basic rules explained in the book.

I want to use historical charts to practice reading price action, identify different setups, understand why they worked or failed and then learn how to use that information in the live market. What would be the best way to approach this? How do you guys recommend learning to read historical charts properly?

Any advice would be really appreciated.

Please and thank you!

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u/devicemaintaince — 4 days ago

What's the Only Manifestation Book You'll Ever Need?

Hey guys, I've been reading and researching about manifestation, but everywhere I look, it's mostly fluff and doesn't explain what actually needs to be done to manifest your dreams and desires. If you could recommend just one book that genuinely teaches you how to manifest and what you actually need to do to achieve your dreams and desires, which book would you recommend?

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u/devicemaintaince — 28 days ago

What's the Only Manifestation Book You'll Ever Need?

Hey guys, I've been reading and researching about manifestation, but everywhere I look, it's mostly fluff and doesn't explain what actually needs to be done to manifest your dreams and desires. If you could recommend just one book that genuinely teaches you how to manifest and what you actually need to do to achieve your dreams and desires, which book would you recommend?

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u/devicemaintaince — 29 days ago

New to Swing Trading – Did I Mark This Breakout Correctly? Need Help Understanding Entry, Stop Loss & Target

Hey everyone,

I'm new to swing trading and currently learning chart patterns, price action, and risk management. Before anything else, I want to clarify that I'm not asking whether I should buy this stock or not. I'm only looking for feedback on my analysis and to understand how experienced traders determine entry, stop loss, and target after a breakout.

Also, I used ChatGpt to help me organize my thoughts and explain my questions more clearly in this post. The analysis and questions are my own. I just wanted to make sure I communicated them in a structured way.

Here's my analysis on Eternal (NSE):

  • I marked what appears to be a consolidation range with horizontal support and resistance.
  • Today, the stock seems to have broken above the consolidation with a strong bullish candle and higher volume.
  • The 20 MA is above the 50 MA, and both are sloping upward.
  • MACD is bullish, and CCI is also showing strong momentum.

What I'm struggling with is the execution part.

  1. Does this actually qualify as a valid consolidation breakout, or have I marked the range incorrectly?
  2. If this is a valid breakout, how do you decide the entry?
    • Enter immediately after the breakout candle closes?
    • Wait for a retest of the breakout level?
    • Wait for another confirmation candle?
  3. How do you determine a logical stop loss?
    • Below the breakout candle?
    • Below the consolidation range?
  4. How do you determine a realistic target?
    • Previous resistance?
    • Measured move (height of the consolidation)?
    • Based on a fixed risk-reward ratio?
  5. More generally, how did you learn to consistently identify good entry, exit, and stop-loss levels? Are there any books, courses, or concepts that helped you understand the reasoning behind them?

I'm trying to learn the decision-making process rather than just copy trades. If my chart work is incorrect, I'd genuinely appreciate it if you could explain what I got wrong and why, so I can improve my analysis.

Thanks in advance!

u/devicemaintaince — 2 months ago

Kite By Zerodha Keeps Deleting My Chart Layouts – Any Alternatives?

Hey everyone, I’m new to the market and I want to get into swing trading. I have started to practice and learn chart patterns, price action, and testing different indicators, but I’m facing issues with Zerodha Kite. When I edit charts on it for more than a certain number of stocks, it gets automatically deleted. I spoke to their customer care, and they are saying that it’s because of the cloud storage limit. So, is there any website where I can continue to practice on Indian equities and my work won’t get deleted? Please share your suggestions, and if you also faced the same issue with Kite, please share how you dealt with it. Thank you.

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u/devicemaintaince — 2 months ago

How Do I Stay Focused and Locked In After a Huge Setback?

About three weeks ago, I broke my right hand and had to undergo surgery. Unfortunately, it happened during my final exams. Before the injury, I had planned to finish my exams and then fully focus on improving my life, figuring out my future, and starting a side hustle. Because of my injury, I couldn't write my exams, which was really upsetting. I wasn't able to finish college, and I'm already a year behind (to make things worse, I'll have to sit for four 3-hour exams shortly after I start recovering from this injury). On top of that, I now have to postpone my side hustle plans until my hand recovers. I was consistently going to the gym and had finally started making good progress. Now, I can't lift any heavy weights for at least a year.

I gave myself some time to process everything, and now I want to get back on track instead of falling into depression. Since I'm stuck at home for a while, I'm trying to see this as an opportunity to work on something productive, start earning some money, and make the best of the situation.

One of the biggest challenges I'm facing is constant negative thinking. I keep worrying about worst-case scenarios and feeling afraid about the future. I also struggle to stay focused on long-term goals without expecting instant results. I'm often afraid to take action and find myself obsessing over possible outcomes before I've even taken the first step.

I want to lock in and use this time as a gift—an opportunity to turn my life around. I really need some help. Does anyone have advice on how to stay disciplined, focused and patient during difficult times like this? I'd also appreciate any tips for dealing with constant overthinking, negative thoughts, and anxiety about the future. Thank you to anyone who takes the time to help.

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u/devicemaintaince — 2 months ago

How Do I Stay Focused and Locked In After a Setback?

About three weeks ago, I broke my right hand and had to undergo surgery. Unfortunately, it happened during my final exams. Before the injury, I had planned to finish my exams and then fully focus on improving my life, figuring out my future, and starting a side hustle. Because of my injury, I couldn't write my exams, which really upset me. I wasn't able to finish college, and I'm already a year behind. On top of that, I now have to postpone my side hustle plans until my hand recovers. I gave myself some time to process everything, and now I want to get back on track instead of falling into depression. Since I'm stuck at home for a while, I'm trying to see this as an opportunity to work on myself and make the best of the situation. One of the biggest challenges I'm facing is constant negative thinking. I keep worrying about worst-case scenarios and feeling afraid about the future. I also struggle with staying focused on long-term goals and not expecting instant results.

Does anyone have advice on how to stay disciplined and patient during difficult times like this? I'd also really appreciate any tips for dealing with constant overthinking, negative thoughts and anxiety about the future. Thank you to anyone who takes the time to help.

reddit.com
u/devicemaintaince — 2 months ago

How Do I Stay Focused After a Setback?

About three weeks ago, I broke my right hand and had to undergo surgery. Unfortunately, it happened during my final exams. Before the injury, I had planned to finish my exams and then fully focus on improving my life, figuring out my future, and starting a side hustle. Because of my injury, I couldn't write my exams, which really upset me. I wasn't able to finish college, and I'm already a year behind. On top of that, I now have to postpone my side hustle plans until my hand recovers. I gave myself some time to process everything, and now I want to get back on track instead of falling into depression. Since I'm stuck at home for a while, I'm trying to see this as an opportunity to work on myself and make the best of the situation. One of the biggest challenges I'm facing is constant negative thinking. I keep worrying about worst-case scenarios and feeling afraid about the future. I also struggle with staying focused on long-term goals and not expecting instant results.

Does anyone have advice on how to stay disciplined and patient during difficult times like this? I'd also really appreciate any tips for dealing with constant overthinking, negative thoughts and anxiety about the future. Thank you to anyone who takes the time to help.

reddit.com
u/devicemaintaince — 2 months ago

Need a book holder because of broken hand

Hey everyone, I broke my hand and it’s difficult for me to hold books and read. I don’t enjoy reading e-books, so I’m looking for some kind of book holder or stand that can hold a physical book open for me while I read hands-free. Does anyone have recommendations for a good book holder, reading stand, or any setup that could help? Preferably something comfortable for reading in bed or at a desk. If possible, please add links to the products you recommend.

Thank you.

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u/devicemaintaince — 3 months ago

Need a book holder because of broken hand

Hey everyone, I broke my hand and it’s difficult for me to hold books and read. I don’t enjoy reading e-books, so I’m looking for some kind of book holder or stand that can hold a physical book open for me while I read hands-free. Does anyone have recommendations for a good book holder, reading stand, or any setup that could help? Preferably something comfortable for reading in bed or at a desk. If possible, please add links to the products you recommend.

Thank you.

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u/devicemaintaince — 3 months ago

iwtl how to do research for a business idea

Hey everyone,

I want to start a business of my own, but the biggest thing holding me back is that I don’t know how to do proper market/business research. I often get business ideas, but then I don’t know how to evaluate them properly, so I end up doing nothing. I want to learn how to research a business idea from scratch, including things like:

  1. Understanding how the business works overall
  2. What all is required to start it (licenses, setup, operations, etc.)
  3. How much capital might be needed
  4. Whether there is actual demand in the market
  5. Who the target customers are
  6. Competition and market size
  7. Growth potential and scalability
  8. Whether there is export potential, and how difficult exporting would be
  9. Government schemes/incentives available for that business
  10. Any other important factors to evaluate before starting

Basically, I want to build a skill/framework so that whenever I get a business idea, I can research it properly and decide whether it’s worth pursuing. Are there any books, courses, YouTube channels, or personal methods that helped you learn this? I’d really appreciate any advice or resources.

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u/devicemaintaince — 3 months ago

Need some kind of direction

Hey guys, hope you’re doing well. I just need some advice or direction. I’m currently at a stage where I keep breaking my discipline and falling back into the same old bad habits. It used to be worse earlier, but now I can at least stop doing certain things once I set my mind to it. Still, there are some similar habits that I keep repeating, and they’re pushing my long-term goals further away.
I want to know what I can do. I don’t know if this matters, but I have my finals in a week, and I don’t know why I’m so stressed. It’s not even that hard this time, and we have ample time for studying. The stress isn’t even helping me focus on studying. I’ve also been randomly feeling sleepy and sluggish during the day lately. I’m unable to focus properly and always feel stressed.
I’ve developed a habit of overthinking and negative thinking, and it’s making me anxious and worried about random things all the time. I start creating worst-case scenarios for every single action. I literally keep thinking about the smallest things again and again. I just don’t understand how I can stop all this and focus on my career and future.
I hope someone can help me out. Thanks in advance.

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u/devicemaintaince — 3 months ago