Day Trading Futures

[timepass]

aam admi ka kya? Buy OTM calls ?

Avoid options till the expiry week

 

[cloudTrader]

TRY THIS .... I TRIED ... AMAZING !!

Can somebody share, through which Technology or software this illusion image could have been produced ?

I tried to find the answer but didn't succeed.

Thanks.

 

[niftytaurus]

Great going niftytauras :thumb:

Few points from my side...
how well defined are your setups ? have you defined the steps that lead you to identify those setups and your plan to trade them( how you will place s.l, target ) ? The more well defined your setups are the easier it is to reproduce them, easier it is to gain confidence in your abilities, also it shortens your learning curve as you will be focused on right things.

Imo rather than bar-trading after market in other scrips you should focus on
sbi only, visualize executing your trades perfectly, do bar-replay, in the time left do following things
first - study overall market(nifty, advance decline, fii/dii flow)
second - study sector performance( see where the funds are going in and out).

Ask question about why the market is moving ? why some stocks are falling and some are rising ? what big funds must be seeing that you are not and how is it visible in markets ? Also look for buying and selling patterns that are easily visible in market like selling after open and buying in afternoon these days.

One Scrip, One setup(frequency has to be good, if not then trade 2 setups)....connect it's movement to overall market and respected sector...that's how i would prefer to go.

I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times -Bruce Lee. so narrow down your focus and practice, practice and more practice(with proper feedback).

Also read one good trade and the playbook by Mike Bellafiore.

You can get amibroker from net, it has bar replay feature and for intraday data you can download datadownloader.

Hi
Thank you very much for your nice advices & encouragement..The advice you have given me in last post also to concentrate on execution the set up & then try to get new knowledge,this advice clicked my mind to think in that way..
ya,I am concentrating on only 2 set ups ..please explain what you said in blue letters..how to go about it?
I have read both books but I think good booKs also need a repeated reading to make you remind those good points..will read again..
I have tried to download amibroker..but its nt working properly..I am not well versed in software..so If you could help me in it..
thanks

 

[Vertigo_1985]

Hi
Thank you very much for your nice advices & encouragement..The advice you have given me in last post also to concentrate on execution the set up & then try to get new knowledge,this advice clicked my mind to think in that way..
ya,I am concentrating on only 2 set ups ..please explain what you said in blue letters..how to go about it?
I have read both books but I think good booKs also need a repeated reading to make you remind those good points..will read again..
I have tried to download amibroker..but its nt working properly..I am not well versed in software..so If you could help me in it..
thanks

First step of a trade would be identification of the conditions which will indicate to you that your edge is present. So if i am trading range breakouts then i will first look for a range for a desired amount of time, once my range condition is fulfilled i will look to enter on breakout so i will place buy order above the range, sl below the range and target based on supply levels above.
As i do active trade management i know how my trade will look like when its working and when its not working so how it should look like after my entry is also part of my trade plan.

Lets take another example..
this time you want to enter based on your larger market expectation, you want to go short after open. So what will let you know that now you can enter ? First indication would be from nifty as it starts to show weakness after open( upper tails, candle overlap). Then watch your stock, what it should do for you to know that its showing weakness and you can enter short ? sign maybe a bof or divergence w.r.t nifty like lower high. Then based on your plan you decide entry point, s.l, targets and how it should look if your premise is valid ?

By having fixed conditions i know which area of my trading needs to be worked upon, you will be less hesitant to enter as conditions are exact, many times in order to not accept that we missed trades we say to ourselves that this wasnt a valid trade so that also wont happen.

Idea is to have a plan ahead of trade, trade it then review it and after sufficient number of trades improve it and again repeat the process.

 

[kiran_thiru]

strange seen. nifty is going down and sbin is going up.

 

[timepass]

strange seen. nifty is going down and sbin is going up.

Yeah. Infy dragged down from 3200, sbin gone up by about 100rs

 

[XRAY27]

NF high was 6902...6900 is acting as resistance for the time being it seems

 

[jamit_05]

Downside is weak... longs may pay off better.

 

[kiran_thiru]

entirely missed rally in tata steel after hit stoploss in short trade.
fear came to enter long that nifty is going down. so did not take long in tata steel.

 

[kiran_thiru]

entirely missed rally in tata steel after hit stoploss in short trade.
fear came to enter long that nifty is going down. so did not take long in tata steel.

another missing trade. short in sbin @ 2096 closed @ 2090. after it went to 2096. looking for short. but took trade in LT. so missed in sbin trade.