re: Day trading Nifty & Banknifty Futures
JMD....
Will you pls mark these things for couple days so that new traders would clearly understand.
How many times I have to say the basic rules... :lol:
A day trader while using smaller time frames like 2,3,5 minutes etc for trading must also aware of broader market trend from 30 Min, 1Hour, 4 Hour and Daily Charts.
And important Fibo Levels of last bigger swings moves in hourly and daily charts. Only some very good price action traders (already present here
) can skip the above rules.
When broader trend is up and we are playing with a short term down move with smaller time frames, we have to book profit quickly or partial profit booking must. Exact timing is difficult for those who trades with fixed lots at one time or with single lot.
I knew this week is tough to trade even though world market is falling and falling. So tried to help a little bit.
And another very easy point for such bullishness you almost forgot. Where is the Weekly Pivot and where is market now?
But, I can't remember you every time.
Note down all such imp sup-res, fibo and pivot levels before start of day trading everyday (mark them with your chart) and make profit.
Best Wishes to ALL.
Happy Trading.
Cheers.
A day trader while using smaller time frames like 2,3,5 minutes etc for trading must also aware of broader market trend from 30 Min, 1Hour, 4 Hour and Daily Charts.
And important Fibo Levels of last bigger swings moves in hourly and daily charts. Only some very good price action traders (already present here
) can skip the above rules.When broader trend is up and we are playing with a short term down move with smaller time frames, we have to book profit quickly or partial profit booking must. Exact timing is difficult for those who trades with fixed lots at one time or with single lot.
I knew this week is tough to trade even though world market is falling and falling. So tried to help a little bit.
And another very easy point for such bullishness you almost forgot. Where is the Weekly Pivot and where is market now?
But, I can't remember you every time.
Note down all such imp sup-res, fibo and pivot levels before start of day trading everyday (mark them with your chart) and make profit.
Best Wishes to ALL.
Happy Trading.
Cheers.
Will you pls mark these things for couple days so that new traders would clearly understand.
weird movement .....