Day Trading Stocks & Futures

[TradeJoker]

re: Day trading Nifty & Banknifty Futures

करत करत अभ्यास के, जड़मति होत सुजान
रसरी आवत जात ते, सिल पर परत निसान


http://forum.wordreference.com/showthread.php?t=1351331&p=6868161#post6868161

u said u never used abusive language :annoyed::annoyed:

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

Put down your trading plan on paper. List down what inputs are required...do you have them ?...if no how do you plan to get them....have a target which is difficult to achieve but not too difficult and not achievable.....method, timeframe, capital, mm,discipline, trade setups....all to be in full harmony ..

Smart_trade

 

[RAAMAKANT]

re: Day trading Nifty & Banknifty Futures

ओ मेरे दिल के चैन, चैन आये मेरे दिल को दुवा किजिये

अपना ही साया देख के तुम जान-ए-जहां शरमा गये
अभी तो ये पहली मंज़िल हैं, तुम तो अभी से घबरा गये
मेरा क्या होगा, सोचो तो ज़रा
हाय ऐसे ना आहे भरा किजिये

आप का अरमां, आप का नाम मेरा तराना और नही
इन झुकती पलकों के सिवा, दिल का ठिकाना और नही
जंचता ही नहीं, आँखों में कोई
दिल तुम को ही चाहे, तो क्या किजिये

यूं तो अकेला भी अक्सर, गिर के संभाल सकता हूँ मैं
तुम जो पकड़ लो हाथ मेरा, दुनियाँ बदल सकता हूँ मैं
माँगा हैं तुम्हे, दुनियाँ के लिये
अब खुद ही सनम फैसला किजिये


http://m.youtube.com/watch?v=heXQRxM2Gro

 

[Tlahuicole]

re: Day trading Nifty & Banknifty Futures

How ? Have you drawn any definite plans ? Else 2014 will be similar to 2013 and 2012...and so on...and in 2014 Dec we will say we will be profitable in 2015.

Not discouraging at all but one needs to work on it with definite plan...

Smart_trade

Hi St,

Things in my last year plan,

1.Learn how to place stops which get hit rarely.

As a beginner I used to keep SLs vaguely, If I buy bnf at 11725 I will keep SL at 11700, then keep on trailing stops per 25 increase. Stupidest idea of R:R implemented.

Nowadays, I put sl beyond technical barriers, like PL or PH and S or R.

2.Learn how to trade ranges or atleast how to avoid ranges.

The first part is still not figured out so I will put it on next year plan as well

3.Find out which tf is suitable for you, for intraday trading.

Found out 5mins favorable for me.

4.Learn how to detect a reversal soon.

Learnt a few concepts like TDST reversal and stoch divergence.

5.Learn how to exit at best price possible atleast half your position.

I exit half on decision points if I see undecision around there, will enter later if the zones clear.

My plan for 2014 is
1.identify trades with more R:R ration and take those only r:r.

Justification: I was confused about R:R ration totally before, if we are using trail stops how can we figure our R:R ratio, then I analysed last year charts, since Itrade BNF alone, I tried to figure out the average points it moves in single direction on a trending day, it was 207. So idiotically by last year june to august I was following this methodology, I placed stops as per swing high/low and if sl is 20 i thought if trend is on trade will fetch 200+ points easily.

Analysis: It was wrong, what I now implement is trail one part of lot based on pivots and other on supports. Now I used decision points and trouble areas from niranjanam, to calculate R:R. This is much better, I got ok returns dec because of this other wise it was a worst month, but not for me, clearly this concept had helped me.

Already finished pt1 half but still I need to learn some more things.

2.Design a system to trade ranges.

I found about how to avoid at least 50% of ranging periods with a combination of indicators and pivots. Yes I miss some early entry into trends but it provides a great shield from whipsaws.

So next step is to learn to trade ranges.

3.Learn more about trend reversals and start with trend reversals by al brooks.

4.Finish learning atleast 10 trading books like last year, suggested are,

1)Lance beggs 6 volumes.
2)Al brooks 4 books.

psychology books can be added but the above are compulsory.

5.Learn more about TDST concepts suggested by ST,

1) TD Sequential

2) TD Combo

3) TD Double TD Point

4) TD Point Reversal

5 ) TD camouflage

6) TDST

7) TD POQ and Oscillators

8) TD Open,TDTrap,TD Clop and TD Clopwin.....

The above I find are the best of DeMark.

Smart_trade

6.Design a less time involving swing trading system.(Since point one is nearly over extra point for my next year)

The above is my trading plan, lets see how i fare next year, as per me anything below 60% is failure, so atleast need to cover 3 goals .

 

[XUV-500]

re: Day trading Nifty & Banknifty Futures

It is a wrong notion that options are responsible for losses. Options are to be traded differently.Options trading can be very profitable.The first Zerodha challenge which I won I traded only options in that account and only daytrading.

Smart_trade

Dear Da
Highly appreciate if u can share inputs.

Like which scrips ? index or stock ?
ITM/ATM/OTM
Long or Write ?
Purely intraday or u tend to make them (Spreads/ Covered) at closing if u tend to catch a good move during a session which is expected to be continue next day.

What was ur risk and rewards in POINTS ?

Please share to remove Options syndrome :thumb:

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

I have been fortunate to have worked with some brilliant and successful trades and also with many failure traders. Failure traders fail not because of lack of intelligence, hard work, discipline.....etc even they have all these...they also have strong will to succeed . Then why do they fail ??

I find that if I have to list down 2-3 important points which separate successful traders from the traders who could not succeed, I will list them as :

1) Successful traders have inherent sense of Reward/risk so they wait patiently for a trading set up which gives them a good R/R trade. There is no point taking a trade with 10 points risk unless the set up is such that you are reasonably sure of making 15,20 or 30 points profits...if you feel that the trade does not have that potential, they pass the trade...

2) All successful traders have what is called " controlled aggression" Some traders are aggressive everyday in all situations and some are controlled ( meaning scared) in all situations. But successful ones become very aggressive when they see opportunity...else they are controlled.

3) All successful traders can sense when the trade is not going as per the plan and they get out not waiting for stops to hit. They are always in control of the trade and not the other way round.

Thought of listing them down as we are going to start a new year soon so that it can help some new traders to cut on learning path.

Smart_trade

 

[poor_trader]

re: Day trading Nifty & Banknifty Futures

It is a wrong notion that options are responsible for losses. Options are to be traded differently.Options trading can be very profitable.The first Zerodha challenge which I won I traded only options in that account and only daytrading.

Smart_trade

CHUPARUSTAM ST BRO..................party please........bdw my wife also won....zerodha challange....:thumb:

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

Dear Da
Highly appreciate if u can share inputs.

Like which scrips ? index or stock ?
ITM/ATM/OTM
Long or Write ?
Purely intraday or u tend to make them (Spreads/ Covered) at closing if u tend to catch a good move during a session which is expected to be continue next day.

What was ur risk and rewards in POINTS ?

Please share to remove Options syndrome :thumb:

I traded Nifty options that time. In the money options because they move fast . Always bought options( long) .Purely intraday...no spread,butterfly etc...plain vanilla call/put buying. I was getting RR of 1.5 to 3...no overnight positions.

Smart_trade

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

I traded Nifty options that time. In the money options because they move fast . Always bought options( long) .Purely intraday...no spread,butterfly etc...plain vanilla call/put buying. I was getting RR of 1.5 to 3...no overnight positions.

Smart_trade

The reason for success according to me was I used to select places where I will take options trade. Never used to buy and hang around the whole day expecting a move. Used to trade at a place when the trend is likely to accelerate.So 2-3 places during the day maximum but aggressively at those places....

Smart_trade

 

[sudoku1]

re: Day trading Nifty & Banknifty Futures

I have other profession too , from where all this money coming from for losing in trading, fourth consecutive losing year and all in six figures :annoyed:

sort of record !