How to learn Analyzing Charts and placing trades accordingly?
Hello People. Newbie here. I gave some time learning candlestick patterns and few indicators on charts such as MACD, VWAP, Supertrend, RSI etc. Then looked at charts (equity, index options etc). I thought the basics would help then I directly tried with Nifty Index CE options in Zerodha with smaller amounts ofcrs around 4k-6k INR, but the problem is no candles behaved the way it was supposed to, if I was assuming the next candle to go bullish, it would rather form as a gap down. I gained 2k one day and lost 500 bucks next 1-2 days. And exited. I tried this loop and lost total around 6k before I stopped playing this field I didn’t know and it felt I was gambling. I cant sell options as I dont have that sort of budget to play around and dont even understand the concept of hedging that well. So I went back to basics and just bought good stocks as investment.
But now due to the Crude Oil Prices, FII selloffs and US Bond stuff, markets are down and even I see on reddit people who know this world far more than me are making losses. I dont understand the concept of taking Short positions to make money and have heard it is dangerous and not for everyone. In Live charts, no sort of prediction works, all Youtube gyaan from the Gurus fail. I understand the charts are primarily controlled by manipulation from Institutional Investors at WallStreet which has a direct impact on Indian StockMarket.
I also heard of something called Algorithmic Quant Trading done by HFT firms called as Jane Street and Citadel Street but I dont have a Maths background and can’t do that. I want to learn Swing trading on equities as a start before diving into Options again as Options it seems isnt for retailers but institutions. Scalping is a NO. I switch the timeframes of charts and the 4m vs 30m vs 1D vs 1W timeframe charts all tell a different story. Currently as a noob I am just doing my normal SIPs and have bought some US stocks from INDMoney and also started SIP on Nasdaq100 (QQM) and S&P 500.
To all the experts out there who know this field, what would your suggestion be to someone like me? I want to learn this trading thing (swing works) and just make some reasonable profit, I dont expect to be a millionaire but get good gains through discipline and learning. Is there anyway I can practice live trades and learn? The reason I chose NIFTY index options is because their charts had more momentum than lets say an ONGC or an IndianOil chart which is mostly sideways choppy with occasional spikes. Also what is this CAS where people apparently make a shit ton of money in 15mins before closing time? Should I just stick to the safe option for now or learn something?