Day Trading Futures

[kiran_thiru]

Not posting till I am convinced that people trade with the single timeframe AFL well. I still use single TF .Let people put up charts to prove that they are using it...else one more addition to AFL bank.....AFLs dont make money, a trader handling the AFL makes money if he is a good trader..

Smart_trade

nice words from ST sir.
so traderji's don't run for afls. concentrate on your best indicator, observe and study on that. then trade with your indicator.
all the best.

 

[stock72]

Today rupee lost against $ but market up !!!!

 

[_Rajesh_]

Posting Bank Nifty Fut 5 min chart. Blue lines are TDST resistance lines and Red lines are TDST support lines.

After breaking blue TDST resistance line on Friday, the market announced its intention to trend upwards which it did subsequently.

Using TDST lines as a supporting tool will give better results than using it as a stand-alone indicator.

TDST is one of my most favourite methods.It is like a measuring gauge on market activity.

Smart_trade

ST Ji,

I was trading JSW Steel today. Looking for reentry after morning trade's TSL was hit.

5 minute chart showed break above TDST resistance line.

Waited for pullback and entered above hammer in 3 minute chart.

Was the trade correct? The S/R lines are different in different timeframes. I trade on 3 minute charts and planning to take TDST S/R from 5 minute chart for guidance. Will this be correct? I trade price action (trying ). Currently trading only 2 setups, breakout pullback and breakout failure, using today's opening range and yesterday's HLC as SR.

Incidentally, Reliance saw resistance at TDST line all day today. Did not trade as bias was up.

Thanks ST Ji, sorry for troubling you with novice questions .

 

[XRAY27]

@kiran
"concentrate on your best indicator, observe and study on that. then trade with your indicator".
all the best.
Great WORDS kiran da........

 

[vssoma]

dear ST,
how to use these yellow line.....

image post

dear bro...pls consider this query in your next post about this indicator.
thank you...

 

[DataRam]

VIX Futures being launched on 26th Feb. The contracts will be weekly expiring.

For more info you may visit the below link.

http://www.moneycontrol.com/news/market-news/how-will-vix-futures-work-iisl-answers_1045014.html

 

[Smart_trade]

Good Morning ST Da : Please clear my confusion. As per your earlier post, there was resistance at 6085 on 1 min. Here is my confusion :

I see TDST gives diff S/R at diff time frame. Should we follow the T/F only the one we are trading in ? Please throw some light on this.

The 1 min T/F on my chart shows around 6079. Did I miss something ?

I'm posting 5min, 3 min and 1min chart which show diff S/R.

Yes, there was a TDST at 6079 on 1 min chart. But as TDST at 6085 was held for 2 earlier attempts, I mentioned 6085...but immediate TDST was at 6079 and on breaking that, market started trending up.

To clear your confusion, let us see how the trend changes. Suppose we are in a downtrens, market keeps going down and at some point the last seller has sold and there are no fresh sellers at that point and the market bottoms out. At this point it can go sideways and then either resume its downtrend or reverse into an uptrend. When the trend reverses, it always manifests itself on smaller timeframe of 1 min , then it manifests itself on 3 min, then 5 min then 15,30 min and so on. So various timeframes will have various TDST or support/resistance levels. We trade the levels of our timeframe but at some levels there are many TDSTs of various timeframes which converge...and that point assumes major importance as support/resistance.

The lower timeframe TDST levels can be used for trading in the direction of larger trend. So suppose we are trading a 30 min timeframe, we can add long positions on 3 or 5 min timeframes in the direction of larger 30 min trends. This way we can add with small stoploss and take advantage of 30 min trend with 3 min stoploss. This gives very good Reward to Risk ratio.Many times we trade on 5 min timeframe but finetune our entries with initial stoploss on 1 min pivot and once the initial entry is successful, we manage the trade on 5 min timeframe.....same logic here.

Hope the above helps in adding clarity to your thoughts.

Smart_trade

 

[manishchan]

Very well explained !! Thank you very much

Yes, there was a TDST at 6079 on 1 min chart. But as TDST at 6085 was held for 2 earlier attempts, I mentioned 6085...but immediate TDST was at 6079 and on breaking that, market started trending up.

To clear your confusion, let us see how the trend changes. Suppose we are in a downtrens, market keeps going down and at some point the last seller has sold and there are no fresh sellers at that point and the market bottoms out. At this point it can go sideways and then either resume its downtrend or reverse into an uptrend. When the trend reverses, it always manifests itself on smaller timeframe of 1 min , then it manifests itself on 3 min, then 5 min then 15,30 min and so on. So various timeframes will have various TDST or support/resistance levels. We trade the levels of our timeframe but at some levels there are many TDSTs of various timeframes which converge...and that point assumes major importance as support/resistance.

The lower timeframe TDST levels can be used for trading in the direction of larger trend. So suppose we are trading a 30 min timeframe, we can add long positions on 3 or 5 min timeframes in the direction of larger 30 min trends. This way we can add with small stoploss and take advantage of 30 min trend with 3 min stoploss. This gives very good Reward to Risk ratio.Many times we trade on 5 min timeframe but finetune our entries with initial stoploss on 1 min pivot and once the initial entry is successful, we manage the trade on 5 min timeframe.....same logic here.

Hope the above helps in adding clarity to your thoughts.

Smart_trade

 

[Smart_trade]

dear bro...pls consider this query in your next post about this indicator.
thank you...

The yellow lines are some "line Array" which probably means some earlier level. We get this when we keep the number count on. But as I always keep numbers count OFF, I have not used this level , so not sure what it indicates.

ST

 

[Trader_PK]

Yes, there was a TDST at 6079 on 1 min chart. But as TDST at 6085 was held for 2 earlier attempts, I mentioned 6085...but immediate TDST was at 6079 and on breaking that, market started trending up.

To clear your confusion, let us see how the trend changes. Suppose we are in a downtrens, market keeps going down and at some point the last seller has sold and there are no fresh sellers at that point and the market bottoms out. At this point it can go sideways and then either resume its downtrend or reverse into an uptrend. When the trend reverses, it always manifests itself on smaller timeframe of 1 min , then it manifests itself on 3 min, then 5 min then 15,30 min and so on. So various timeframes will have various TDST or support/resistance levels. We trade the levels of our timeframe but at some levels there are many TDSTs of various timeframes which converge...and that point assumes major importance as support/resistance.

The lower timeframe TDST levels can be used for trading in the direction of larger trend. So suppose we are trading a 30 min timeframe, we can add long positions on 3 or 5 min timeframes in the direction of larger 30 min trends. This way we can add with small stoploss and take advantage of 30 min trend with 3 min stoploss. This gives very good Reward to Risk ratio.Many times we trade on 5 min timeframe but finetune our entries with initial stoploss on 1 min pivot and once the initial entry is successful, we manage the trade on 5 min timeframe.....same logic here.

Hope the above helps in adding clarity to your thoughts.

Smart_trade

Nice ST da... but really need multiple TF AFL ...