Day Trading Futures

[LivetoTrade]

If you go through some earlier posts by Mr SavantGarde, he has explained this concept beautifully

Hi Gandhar,TP,Nirav,Stock72,ST,Pratap,Augubhai,Manish,a1b1 and all brothers,
I have found a very interesting thing about charts . Ofcourse, it requires further working and lot of interpretative capacity !! So, i am requesting u all to let us work on this method and i hope to unlock the treasure ! This is very interesting method and simple too !!

What i do is that :
i draw horizontal lines to swing pivots or major reversal vertices and draw trend lines .

the intersection points of these two lines (horizontal and inclined) give me very interesting information i.e. considerable downside or upside .

I am enclosing a chart here for ready refrence and will keep posting other charts also as i find .

 

[XRAY27]

Yesterday initial stoploss was about 18-20 points away because there is no pivot in between due to volatility. But that is the initial stoploss just to protect us in case the market suddenly reverses after our entry. But I practice something called " early exits" meaning if any 5 min bar closes below the level which put us in long trade and the low of that bar is violated, it means that the breakout is not sustaining and hence I get out of the position even though my stoploss is not hit because in 70 % situations it gets hit eventually.This way most of the bad trades are exited in 7-10 points . But this has a danger of false exits and one should be prepared to re-enter if the market continues in the direction of the breakout. It also dilutes the success rate to nearabout 50 % which is a tradeoff I have to accept for getting high reward low risk trades.

Smart_trade

ST da,...please post "early exit" method with an example...(image..will be of great help)...

 

[a1b1trader]

Now

If crosses and sustains 6550/55 then we can see 6585/90

But time is a big constraint
Only 40 min left

NF LTP 6537.8

Yes, again,
If crosses and sustains above 6550/55, then can reach 6585/90

SL 6520

And if above this, then
Will post later.

Though likely to move up
But giving other side (lower) levels also.

On the other side

If breaches 6520 and then 6500 (and doesnt bounce back from 6505/00) and remains below 6500
Then we can see 6465/55 levels

SL 6555

Use proper SL/TSL
Take care

 

[Tlahuicole]

Yesterday initial stoploss was about 18-20 points away because there is no pivot in between due to volatility. But that is the initial stoploss just to protect us in case the market suddenly reverses after our entry. But I practice something called " early exits" meaning if any 5 min bar closes below the level which put us in long trade and the low of that bar is violated, it means that the breakout is not sustaining and hence I get out of the position even though my stoploss is not hit because in 70 % situations it gets hit eventually.This way most of the bad trades are exited in 7-10 points . But this has a danger of false exits and one should be prepared to re-enter if the market continues in the direction of the breakout. It also dilutes the success rate to nearabout 50 % which is a tradeoff I have to accept for getting high reward low risk trades.

Smart_trade

Hi ST,

One small doubt, you are saying that you would exit if

a)If 'A' is a PH candle with high at 10000 and body close and 9990 and you have entered at PH break at 10010. Will you exit when the next candle closes below 10000(closes below high of the candle) and the closing candle low is taken down or closes below the body high of the candle which is 9990(like in case of failure and rejection) and the closing candle low is taken out.

Or

b)If 'A' is pivot high candle which has high at 10000, and the long is taken out in candle 'B' and you exit if the low of the entry candle 'B' is taken down.

Sorry just curious to learn the next thing .

 

[a1b1trader]

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[bapu4]

Hi,
Reliance may fall from Tuesday.Lets see..

Sorry Manish Bhai,
I cudn't rmove Ichi,I had allraeady drawn it,then removing ichi means redo the whole thing,I would request you to Ignore ichi.

 

[timepass]

Hi,
Reliance may fall from Tuesday.Lets see..

Let's see if it gets support at the falling trendline, which it broke with good volumes in last few days.

 

[bapu4]

Let's see if it gets support at the falling trendline, which it broke with good volumes in last few days.

TP bhai,
Even if it comes to test the falling trend line one will earn 20 Rs ( good amount).Lets see..if not I will refine my observation.Thanks for that input.
Tx

 

[nirav_j]

Things are heating up on the Crimea front.

Reportedly, this is the first direct confrontation, between the Ukrainian and Russian military's ..

Ukraine accuses Russia of military incursion

 

[Gandhar.]

Things are heating up on the Crimea front.

Reportedly, this is the first direct confrontation, between the Ukrainian and Russian military's ..

Ukraine accuses Russia of military incursion

another interesting thing