Day Trading Futures

[a1b1trader]

Very difficult to trade NF today
Just moving in 15 points range since last 3 hours

 

[rrrajguru]

I remember a poem, which we were reading in our school time "Poet lover and Bird Watcher".

So patience is the key.

 

[manishchan]

Very difficult to trade NF today
Just moving in 15 points range since last 3 hours

Kabhi idhar .. Kabhi udhar..

 

[OMSAI]

Kabhi idhar .. Kabhi udhar..

Its a aafat for Day traders.....we bindas biradhar!!! :lol:

 

[throwawayacc123]

Kabhi idhar .. Kabhi udhar..

This is because of program trading and HFT firms are making money now. The Higher TF traders are not in, so don't expect any move.

Problem with retail traders is they cannot make money on lower TFs since its owned/controlled by HFT firms.

It boggles my mind that people here are trying to compete with these institutional HFTs. It's so scary....

Only place left for retail traders is on Higher TF(1h and above), anything lower than that , your chances of making money is very low..

 

[pratapvb]

This is because of program trading and HFT firms are making money now. The Higher TF traders are not in, so don't expect any move.

Problem with retail traders is they cannot make money on lower TFs since its owned/controlled by HFT firms.

It boggles my mind that people here are trying to compete with these institutional HFTs. It's so scary....

Only place left for retail traders is on Higher TF(1h and above), anything lower than that , your chances of making money is very low..

It is not that one cannot make money in intraday. A different mindset than always trend trading is required

intraday

1. in range with no bias should sell high and buy low with appropriate filters (I use 1min band for failure in sideways at key s/r)

2. if in trend then should trail and get maximum out of the move ..... I use +1SD and -1SD BO/BD to know that one of the bulls / bears has taken over

the important thing is to recognize potential ranges where both bulls / bears fight and trade as per range trading rules and to recognize when it switches to trend and switch to trend trading rules.....

One may get days when there is a trend one way.....some days are full range days.....or some even both way or 3 way trends.....agility to recognize this (no priort bias - easy to say diff to do) and then trade one's system with discipline is important

 

[RAAMAKANT]

CURRENCY MARKET IS CLOSED TODAY.

Holiday due to Chhatrapati Shivaji Maharaj Jayanti so Market may be missing the Trigger.

 

[throwawayacc123]

It is not that one cannot make money in intraday. A different mindset than always trend trading is required

intraday

1. in range with no bias should sell high and buy low with appropriate filters (I use 1min band for failure in sideways at key s/r)

2. if in trend then should trail and get maximum out of the move ..... I use +1SD and -1SD BO/BD to know that one of the bulls / bears has taken over

the important thing is to recognize potential ranges where both bulls / bears fight and trade as per range trading rules and to recognize when it switches to trend and switch to trend trading rules.....

One may get days when there is a trend one way.....some days are full range days.....or some even both way or 3 way trends.....agility to recognize this (no priort bias - easy to say diff to do) and then trade one's system with discipline is important

You do not realize how scary it can be.

Let me explain how dangerous it can be trading lower TF(anything < 15M).

Exchange all over the world including NSE uses FIFO for orders. So the first order that comes in the queue for a price point gets matched against the opposite side and gets filled. Now institutions try to get in order as quickly as they can(co location) so they can get filled. Even if you do get your order quickly , there are some institutions & firms that are also members of NSE have priority(they pay a high fee for this).

Now imagine a retail trader trading lower TF, trying to get a fill in and price is moving fast. You think you can beat the institutions to get your orders filled. I can't even get 20 lots filled on 5 Mins in NIFTY some day's.

Now imagine your SL order doesn't get filled even though price is trading at your SL level. What are you going to do? you will be forced to exit at a worse price and it will take just one instance of this to happen and it will wipe out all your profits and if your are lucky you end up breakeven at best.
Worse case scenario , you take a huge loss and it will take a long long time to recover.

Now traders trading just 1-2 lots have no problem getting orders filled, but you are not going to make much money trading 1-2 lots on lower TF, since swings are rare on lower TF.

 

[pratapvb]

ok let me tell you what I see today

we opened in yellow range (lower pane) so that range is sideways mode and all trades are only 1/2 MM

long as pvt above vwap taken out

booked at VAH (VAH was 10599 and VAH2 was 10614)

short pvt below orange band

booked some at major support Series vwap +2SD line at 10516 (booked 10522)

rest Sared on pvt 10548 above -1SD (green) and above orange band)

again book at top VAH
again short below orange band

but now 15-13 band (tan supporting...so took off some later....and on pb re-entered that.....

holding shorts

 

[pratapvb]

You do not realize how scary it can be.

Let me explain how dangerous it can be trading lower TF(anything < 15M).

Exchange all over the world including NSE uses FIFO for orders. So the first order that comes in the queue for a price point gets matched against the opposite side and gets filled. Now institutions try to get in order as quickly as they can(co location) so they can get filled. Even if you do get your order quickly , there are some institutions & firms that are also members of NSE have priority(they pay a high fee for this).

Now imagine a retail trader trading lower TF, trying to get a fill in and price is moving fast. You think you can beat the institutions to get your orders filled. I can't even get 20 lots filled on 5 Mins in NIFTY some day's.

Now imagine your SL order doesn't get filled even though price is trading at your SL level. What are you going to do? you will be forced to exit at a worse price and it will take just one instance of this to happen and it will wipe out all your profits and if your are lucky you end up breakeven at best.
Worse case scenario , you take a huge loss and it will take a long long time to recover.

Now traders trading just 1-2 lots have no problem getting orders filled, but you are not going to make much money trading 1-2 lots on lower TF, since swings are rare on lower TF.

I said a different mindset and agility is required.....

I put difference of 10pts in bnf between limit and trigger.....exchange is supposed to ensure best fill....so I am not bothered above the difference always giving me a bad fill of 10pts away from trigger....but till now I have never got a order jump....in fact on known news events like RBI policy I even put 20pts difference....I want to ensure getting out a SL rather than optimizing the trade....my system will ensure that I can get what the mkt is willing to give

I am not encouraging people to trade intraday or trade positional or trade 1min 3min or 60min....what I am just saying that making a blanket statement like you cannot make money is wrong...

nothing more to say from my side.... each man or woman to himself or herself....lets all trade what one is comfortable in