Best way of day trading - 2652 theory of trading

[columbus]

sasi , here there is always confusion of hghs and lows
i found this method useful after using nse wesite values ( high ald lows ) in cash .
here when i posted it some members found that if we use higs and lows of charts then also its works fine .
so what i suggest that u keep ur source constant for all trading days .
here there will be on rare ocassions that if one person trading with charts values will be in profit and one with wrong tick values will be in loss .
but one day it allso will be just opposite .
in nifty i always wait for sunils numbers but today i missed him so i went with rahuls numbers .( wrong tick numbers )
this should not be done .
paper trade with both the values for month ( for new members ) using both chart values and wrong tick values .
go in for the values which will be more profitable .

dhiraj

Dhiraj,

Better to follow the value as read from the charts.

 

[kishy_99]

sasi , here there is always confusion of hghs and lows
i found this method useful after using nse wesite values ( high ald lows ) in cash .
here when i posted it some members found that if we use higs and lows of charts then also its works fine .
so what i suggest that u keep ur source constant for all trading days .
here there will be on rare ocassions that if one person trading with charts values will be in profit and one with wrong tick values will be in loss .
but one day it allso will be just opposite .
in nifty i always wait for sunils numbers but today i missed him so i went with rahuls numbers .( wrong tick numbers )
this should not be done .paper trade with both the values for month ( for new members ) using both chart values and wrong tick values .
go in for the values which will be more profitable .

dhiraj

So Dhiraj you mean to say that for cash we can take wrong tick (nse website), but futures we have to use charts?

 

[jhaveri_n]

dhiraj sir,
A per ur theory, I also want to contribute something
My rule is simple I note the previous day high & low of nifty or any stock
then on trading day i watch stock & nifty if stock hit's previous day high i buy
& if stock hits previous day low I sell it. I found good profit in it near about 80% sucess
and risk reward ratio is also very good.
So I u don't mind can express ur view on this.

Hi SarlaMonu,

I have tried this system before, someone had told me about it, its called the SRDC (Support Resistance D.... C.....) and seems to work well in Forex, i was paper trading it for almost 2 weeks, with good results, then there was a miracle in my life and Dhirajji entered !!

I have using his system then onwards...

 

[dhiraj11378]

Dhiraj,

Better to follow the value as read from the charts.

hi columbus ,
only thing i want to clear is that just keep ur source of highs and lows the same for all days .
for cash u can get from nse wesite or trading terminal ( wrong tick numbers )
or cash chart numbers .
for futures high and low of futures wrong tick or futures chart .
but do not take one values from charts andnext day go in for charts values .

i do understand your point of taking highs and lows taking from charts is precise , but i think it works for both the values .

dhiraj

 

[dhiraj11378]

So Dhiraj you mean to say that for cash we can take wrong tick (nse website), but futures we have to use charts?

if ur trading in cash
sources of high and low
wrong tick cash
charts cash
follow either

if ur trading in futures
source of high and low
wrong tick of fututres
charts futures
follow either

do not make a mistake which i made today.

dhiraj

 

[dhiraj11378]

dhiraj sir,
A per ur theory, I also want to contribute something
My rule is simple I note the previous day high & low of nifty or any stock
then on trading day i watch stock & nifty if stock hit's previous day high i buy
& if stock hits previous day low I sell it. I found good profit in it near about 80% sucess
and risk reward ratio is also very good.
So I u don't mind can express ur view on this.

hey nice analysis ,
but i think this strategy is stock specific .
just see on which selective stocks this works
dhiraj

 

[dhiraj11378]

for me ril, nifty, sbi hit target. i didnt try others as i was busy

this method works really well and we need to do more trades each day to get more benefit. for that we need to AUTOMATE the process, dont know how but need a system that reads yesterdays hi/lo from nse and read hi/lo at 10:15 and 10:35 (can specify these times) , then excel should be updated for orders. then place real orders as per the data.

guys who are using metastock or amibroker can write a formula to do this whole thing and orders can be placed automatically subject to funds availabilty. best this is to shortlist some 30 nifty stocks and apply this formula

absolutely correct bandlab
a substancial amount in account , and a super fast execution of orders
will earn high profits with this method .
if somebody works on what u reffered then it will superb .

dhiraj
ba

 

[faith]

I can give one clue to earn consistently 0.5 to 0.8 % with TIGHT Stop is Stop order entry in Break-Out / Break Down.

waiting asish da .............................

 

[columbus]

hi columbus ,
only thing i want to clear is that just keep ur source of highs and lows the same for all days .
for cash u can get from nse wesite or trading terminal ( wrong tick numbers )
or cash chart numbers .
for futures high and low of futures wrong tick or futures chart .
but do not take one values from charts andnext day go in for charts values .

i do understand your point of taking highs and lows taking from charts is precise , but i think it works for both the values .

dhiraj

Hi Dhiraj,

Generally I trade in FUTURES and I take values from the chart for both
times (1015 and 1035..for all days).I use Market watch values only for
confirmation .

Apart from taking values from NSE website, this can be achieved by
plotting CANDLE chart and asking it for LISTING of O,H,L,C.

 

[manish99001]

dhiraj sir,
A per ur theory, I also want to contribute something
My rule is simple I note the previous day high & low of nifty or any stock
then on trading day i watch stock & nifty if stock hit's previous day high i buy
& if stock hits previous day low I sell it. I found good profit in it near about 80% sucess
and risk reward ratio is also very good.
So I u don't mind can express ur view on this.

Hi,
Can you let us know which stocks you generally trade using this technique .

Regards