Day Trading Futures

[santhosh2010]

Santosh ji,

It would be great if you could mark your trades on this chart ,so that we could learn trading Daily TF as well ...

All this trades in MCX Crudeoil (15 min time frames / Positional trading)

This is my Loss History

 

[santhosh2010]

ST bro and traders,

Is that a strategy like pin bar strategy is not enough to make profits in the intraday trading.? Ofcourse we need MM, RM too. But a simple strategy like single candle pin bar (hangin man/ shooting star) is not enough to make consistent trades and wins as this pin bar setup often happens everyday in stocks and nifty too. Is there a need for advanced/complex/multi-indicator strategies?

 

[Tlahuicole]

ST bro and traders,

Is that a strategy like pin bar strategy is not enough to make profits in the intraday trading.? Ofcourse we need MM, RM too. But a simple strategy like single candle pin bar (hangin man/ shooting star) is not enough to make consistent trades and wins as this pin bar setup often happens everyday in stocks and nifty too. Is there a need for advanced/complex/multi-indicator strategies?

Hi Although this is addressed to ST, I would like to add up my points. Multi-indicators is not needed, but it is better to have atleast two strategies one to trade in trending days and another to trade in trading days.

hanging man and shooting start are trend reversal signals or you can use them to short when price goes against HTF trend, that is we can short 5 min uptrend when shooting star is formed at resistance when 30 min chart is in down trend.

pin bars are always good entry points if you have the ability to enter by fine tuning entries with lower time frame, if not they mediocre risk:reward ration only.

Advanced strategies are never needed to make money consistently from the market but Advanced understanding of the market is a necessity with which you can construct a simple framework and set of rules that can be used as a strategy to trade the markets and live of the money made from trading the markets. All the best in your journey for reaching the stage of consistently profitable.

 

[XRAY27]

ST bro and traders,

Is that a strategy like pin bar strategy is not enough to make profits in the intraday trading.? Ofcourse we need MM, RM too. But a simple strategy like single candle pin bar (hangin man/ shooting star) is not enough to make consistent trades and wins as this pin bar setup often happens everyday in stocks and nifty too. Is there a need for advanced/complex/multi-indicator strategies?

Well,single candle stick pattern (umbrella patterns) ...can be used for successful profitable trading, once we draw the support and resistance area for consistant trades and wins..with in price action there is no need for indicators..
Having said that,PAT needs more practise when compared to the indicator trading..

 

[santhosh2010]

 

[Smart_trade]

ST bro and traders,

Is that a strategy like pin bar strategy is not enough to make profits in the intraday trading.? Ofcourse we need MM, RM too. But a simple strategy like single candle pin bar (hangin man/ shooting star) is not enough to make consistent trades and wins as this pin bar setup often happens everyday in stocks and nifty too. Is there a need for advanced/complex/multi-indicator strategies?

I saw this post just now. As the markets are opening, I will reply to the post in the evening.

Smart_trade

 

[RAAMAKANT]

@ ramakantji

what is TF of chart ?

and could you please tell me how many point SL for banknifty in genral ..i mean approx.

could you tell me about your trade managment , i means exit strategy ...could you exit partially or full exit at a time .
banknifty nifty is too volatile index ..how you manage trade ...please tell some thought on it

thank you

I think you have missed my previous post.
My trading TF is 3 min chart.

Generally at the entry time I use SL of 20-30 points but as trade progress it's vary depending upon the volatility of BNF.

Managing / Trailing SL is an ART and it may vary by person to person and same applies for exits also. There is no specific strategy which is 100% fullproof for exits. My main concern is always protection of capital rather than going for bigger targets.
Yes, BNF is too much volitile index and taming it can come by only experience. In my opinion there is no shortcut to gain experience.

 

[Smart_trade]

Market is still in uptrend.It is gradually inching up but trend is positive....I am looking to book profits at higher levels and buying again in the dip...

ST

 

[sabharwal_RK]

What levels should one look for buying?

I am looking at close to yesterday's low..

Also is it those times (since markets are range bound) where one should **** out...

 

[timepass]

Justdial : open = LOD = 1476.65

dimaag ghumaoing