Day Trading Futures

[Smart_trade]

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...

I am booking profits in 8455-60 range...and look to buy in 8430-35 range whether to trade a rangebound market or be out of it and trade only trends is everybody's call.

ST

 

[RAAMAKANT]

It's going to be another boring, Sideways day....... :annoyed:

 

[Tlahuicole]

Shorted REL at 988, SL 990.3..

 

[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?

Since I am not in trade now, I will write a few lines on your post. These are to be treated as my view only and it may and need not be 100 % correct all the time.

1) When I was struggling to find trading methods, I backtested many patterns such as NR7,Inside bars,Head and Shoulders,Pin bars,and few DeMark patterns..my finding is patterns traded in isolation are not profitable as trading methods. You have to trade them with perspective of trends and where we are in those trends. I found that few patterns like H & S, Pinbars, long legged/tailed hammers,and 2 of DeMark patterns are fairly profitable...but not when traded in isolation.

2) The best is trade supports and resistances and trends on short,mediun and long term and whether they are in synchronisation or out of phase...no need to have indicators and to see 10 different things before taking a trade....no one in reality can trade with 10 different things in mind, more things means more confusion and more indecision.

3) Methods like MA crossover etc are not profitable if traded as they are but with some tweaks, they can be traded profitably. I have backtested them over 6-8 yrs data.

These are my observations based on my own backtests more than 15 years ago...but someone may find something profitable...so do your own study and then trade.

Smart_tarde

 

[umesh12]

Justdial : open = LOD = 1476.65

dimaag ghumaoing

But why ghumaoing

 

[umesh12]

It's going to be another boring, Sideways day....... :annoyed:

Bhai, aisa mat socho
Picture to abhi shuru hui hai
Climax to abhi aanaa hai

Today is a special day
So keep watching

Cant mention my targets

 

[timepass]

But why ghumaoing

seems to have taken out the SL for longs, without much upside. This 1530 region is where it has stalled for some days now.

 

[XRAY27]

It's going to be another boring, Sideways day....... :annoyed:

Broker babu day!! ...........

 

[sach007]

Justdial --FUT CURRENTLY Resisting at 1527 --1532

 

[umesh12]

seems to have taken out the SL for longs, without much upside. This 1530 region is where it has stalled for some days now.

I posted yesterday, my bias is up for this scrip