Best way of day trading - 2652 theory of trading

[bandlab2]

you need to place stop loss limit/maket orders fo such situations. check with your platfom on how to place stop loss orders

example here

cmp 2712

buy above 2735 with taget 2749 and stop loss at 2701

sell below 2677 with target 2662 and stop loss 2712


now you need to place 6 orders. all of them stop loss trigger orders. in 1st trade (buy) if target is hit, then MANALLY you need to cancel its stop loss at 2701 and vice-versa (if sl hit cancel target order). same thing for 2nd trade(sell)

this is a tedious process but no other alterantive. btw, you need enuf margin/cash to place somany orders for one stock.

normally i manually watch the rices and when it comes close to ou rates, then place orders. somtimes we miss the bus, but what to do ?

 

[Sunil]

normally i manually watch the rices and when it comes close to ou rates, then place orders. somtimes we miss the bus, but what to do ?

there is a facility a facility "SCRIP ALERT" available in trading terminals.
this is a colour-coding alert when LTP of your scrip reaches or goes beyond your set base price.

For example, let's take RIL
CMP = 1150
& your buy = 1180
sell = 1120

so, right-click against RIL in your market-watch window, and choose SCRIP ALERT..
in the parameters box, we can enter max two conditions..
I enter these two parameters for buy & sell
when LTP>1175, then highlight it to GREEN
when LTP<1125, then highlight it to RED

normally, the background colour of market watch windows (based to ODIN or TRADEANYWHERE) is black or white.
After setting this condition, when LTP of RIL goes above 1175, then the whole row of RIL turns GREEN - this indicates to me that my BUY price (1180) is nearing. I then give STOP-LIMIT BUY order at Rs 1180 (meaning buy order will be triggered only when LTP is at 1180 & at a price not above 1180)
similiarly, when LTP goes below 1125, then the whole row of RIL turns RED - this indicates to me that my SELL price (1125) is nearing.

Suppose buy order is triggered, then:
1. I set a STOP-LIMIT SELL order for booking my longs (here, 0.5% target = 1186
2. I revise the condition for RED colour now for stop-loss highlight. (here, 1% SL = 1168.20)

Thus, if LTP of RIL goes to 1186, it will be sold at that price automatically.
and if it goes below 1170, then it will be highlighted RED, meaning my stop loss (1168.20) is near, and i set order accordingly.

THIS COLOUR-HIGHLIGHTING IS VERY EFFECTIVE. YOU CAN HAVE DIFFERENT COLOURS FOR TARGET, ETC TOO.
One more thing: it will remain highlighted as GREEN till LTP is above 1175.
If it goes at or below 1175, then no highlighting - you will come to know that it's going reverse now. And as soon as it turns RED, you know that your stop loss level is nearing; and accordingly modify the order.



THOSE WHO ARE SEARCHING FOR A FULLY AUTOMATED PROCESS FOR ALL ORDERS - THEN I AM SORRY TO SAY NO SUCH THING EXISTS & THEY SHOULD RESTRAIN FROM INTRADAY TRADING, IF THEY CANNOT SIT CONTINUOUSLY IN FRONT OF TRADING TERMINAL.

 

[sasi0263]

Hi sunil please tell NF Buy/Sell values with SL. My PIB is not workin today

 

[Sunil]

sell triggered at 2684.25
target achieved too


had some data problem on my side too..
confirmed H & L from the other thread

even nse website not giving FUT rates

 

[sasi0263]

Thanks Sunil, Missed the trade after 2 consecutive losses

 

[Sunil]

Sasi,
next time, keep an eye on this thread too - 10:00 high & low are mentioned by 2-3 members EVERY DAY w/o fail.... (as per thread rules)

and these mismatches in values are there only during this opening band....

helps to clear confusion


http://www.traderji.com/day-trading...-miniflow-live-discussion-166.html#post270059

 

[sasi0263]

Sasi,
next time, keep an eye on this thread too - 10:00 high & low are mentioned by 2-3 members EVERY DAY w/o fail.... (as per thread rules)

and these mismatches in values are there only during this opening band....

helps to clear confusion


http://www.traderji.com/day-trading...-miniflow-live-discussion-166.html#post270059

Got u there sunil. Actually I was also tracking that thread earlier, but skipped later. I will request u to please post H/L at 10.15 am regularly. I will do the same and will wait for u to confirm. This will aleast confirm our values

Thanks

 

[bandlab2]

yes, nifty got profit today, but i missed it. any thing else ?

 

[sachinsamani]

i guess everyone missed the trade today. I had a internet problem too...

 

[dhiraj11378]

sell triggered at 2684.25
target achieved too


had some data problem on my side too..
confirmed H & L from the other thread

even nse website not giving FUT rates

hi sunil
yes there was some problem with nse webste ,i too found the same
did u get in nifty trade or missed it .
dhiraj