Day Trading Futures

[candle]

Usually it is said in the context of what kind of trader you are. If you are scalper meaning you trade for only 2-5 points (NF), 1 min does the job for you. On the other hand, if you are a trend rider who look for trend and enters only when sure about out.. usually would trade higher TF like 5 min, 15 etc. Why ?? Because trading 1 min for such person wouldn't make sense it would give whipsaws and conflicting signals.

Some people prefer trading swing over intraday... they usually trade 30 min, Hourly charts. Why.. because they don't like to sit and watch the screen entire day or time constraint and their psychology doesn't fit for intraday trading etc... they enter a trade when they are sure about the trend and watch their defined price level on and off. and get out in 1, 2, 3...days

So TF boils down to what type of trader you are.. intra or swing.. do you trade full time or part time... scalper or trend traders... and that is why they say trade the TF that suits your personality..

Some references for you

http://daytrading.about.com/od/daytradingbasics/qt/TimeFrame.htm
http://tuckerreport.com/articles/time-frame/
http://www.babypips.com/school/high...-analysis/what-time-frame-should-i-trade.html
http://www.theeverydaytrader.com/your-trading-personality/

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answer is given for pro level.
1] If u can spend 3hr daily time on planning/study on Eod -u can be intra day player.
2]If u can spend 1hr daily time on planning/study on Eod -u can be shortterm /swing player.
3]]If u can spend 3hr weekly time on planning/study on Eod -u can be intermediate/positional player.
OPPURTUNITY SEARCH : MEANS the timeframe u can predict. a 5min player means - predictably for up/down move for a stock. 1hr player suggests -predictability for direction bias in next hr.
A good day player can say - next days mover(2% )
a swing player - may have skill about 2days continuity from a particular price pt.
A position player suggests STRENGTH of continuation above 10-20 days /about 20 % price move.
..................................................
ALL HAVE SOME STRIKE RATE/but master to get out when proven wrong by own system.
Comfort /risk tolerance/ attitude to money / knowledge on market -other contributory factor.
But quick impulse/easy going personality fits in no style.
Counter trend/flow with trend - using momentum -economic sense - helps to be a higher timeframe player.
U may give Van Tharp test to know more.

Thank You sir !
I am lucky enough to join TJ and to have seniors who are kind enough to help the aspiring people like me. Your valuable guidance is highly appretiated. I believe that I am on the right platform here.


A lot of things to learn.......a lot of questions to be asked.......will keep u busy guys...


regards.
Candle

 

[XRAY27]

Good day today !!!

7 POINTS OF PRICE ACTION FOR SWING AND INTRA

1. NOTE SUPPORT AND RESISTANCE (THESE ARE AREA'S NOT THE EXACT PRICE)

2. IDENTIFY THE SWING POINTS (OR PIVOT POINTS)

3. MARK THE WIDE RANGE CANDLES

4. NARROW RANGE CANDLES LEAD TO EXPLOSIVE MOVES

5. REJECTED PRICE IS ALSO VERY IMPORTANT WHICH IS DENOTED WITH SHADOW OF CANDLE

6. GAP AND TRAP PATTERNS

7. MEASURING THE SWING IS ALSO IMPORTANT

 

[TradeOptions]

Sectoral Performance for all the futures, for the current June Month series so far -

 

[biswajit2040]

Just posting my take.
May bounce from 300 levels.20EMA providing support.

Can anyone tell me how to get these kind of live charts?

PS:I use ICICI direct and SAS online brokers. Even paid charting services with additional services fine. Any recommendation?

Thanks

 

[TradeOptions]

Nifty options data


Since a few friends were having difficulty in understanding what these snaps show, therefor I have tried to HIGHLIGHT the Important Points in these snaps, so that it becomes easy to interpret.We can see this data for all the 3 month series by selecting 1,2 or 3 in the Top Menu.



Nifty Option VALUES

Nifty Option CHANGE in VALUES

Nifty Option % CHANGE in VALUES

Nifty Option Chain Data for today -

 

[nirav_j]

All days of June series except the first has seen a reduction in nf OI. Today's cut was the highest at 10L...

 

[manishchan]

Can anyone tell me how to get these kind of live charts?

PS:I use ICICI direct and SAS online brokers. Even paid charting services with additional services fine. Any recommendation?

Thanks

You can try investbulls, icharts, bazaartrend. All are paid service and provide java based charts.

 

[nirav_j]

All days of June series except the first has seen a reduction in nf OI. Today's cut was the highest at 10L...

And so the week ends with yet another day of Cut of OI in both NF and BNF.

Next week looks exciting. :thumb:

 

[TraderRavi]

And so the week ends with yet another day of Cut of OI in both NF and BNF.

Next week looks exciting. :thumb:

reduction in OI = > ?? wat effect

 

[TradeJoker]

reduction in OI = > ?? wat effect

bole tho correction ahead in mkt