Day Trading Stocks & Futures

[arcus]

re: Day trading Nifty & Banknifty Futures

SGX Nifty is down another 42.5 points as of now.

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

ST,


Currently I trade based on support n resistance, if the daily trend is positive, I enter the trade at the support level and if market moves in my direction I trail my stop loss based on 5 mins tf support level.

At any point of the day, if 5 mins bar closes below support level, I exit. I do not reverse to short. But if market resumes uptrend again after a day or two I feel hesitant to enter again fearing it will hit resistant n fall again.

But am much more comfortable in short position, I do not even give second thought to re enter if market breaks the support again. Bcoz I feel I can make a quick profits in shorts, market when moves up it goes in Stairs but when goes down it comes down in elevator.

how do you decide ur exit levels?. After all, exit point much more important than entry. Could you pls provide ur inputs on exit level?

1) The upmove builds slowly with lots of up/down....but the downmove is sudden. It is the nature of the market. The buying decision is gradual...selling is sudden, just like dumping the position.So upmove takes time to build, downmove comes tearing down, fast and ferocious.

2) If you are asking about daytrading, I use 5 min bars and I use the same chart for deciding the larger trend as well as trading the current moves. But market gives plenty of indications before it makes a move. Today from 9:40 to 12:00 Nifty was attempting to go up but every attempt its strength was falling short. Finally bulls gave up and that is where the bears seized an opportunity.

3) In trading entry is relatively easy but exit is difficult and exit is very crucial to the success or failure of a trader. The exit should be what we call "Just In Time " in management terminology ,that means not too early, not too late. This is as much an art as it is a science. I use the following to decide my exit levels.

a) Supports/resistances of hourly, daily bars.
b) Previous swing highs/lows
c) TDST Power of 9
d) VWAP Bands
e) Large bars, End of move bars
f) The bounce we get from the low
g) Overlapping bars

So based on the above the exit is taken. Booking part profits at important support levels also is a good strategy.

Smart_trade

 

[RAAMAKANT]

re: Day trading Nifty & Banknifty Futures

Banknifty confirmed today 3,15 Bearish Crossover with good difference,
May be tomorrow Nifty's crossover........... Cheers

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

@ST

One question I ask you now. Not sure if I have to ask you or to ask TJ: We have the possibility to use a signature. I mean that is fine. Even I do it. Now when I go through the posts, in many cases I nearly do not see any thing else compare each time three quarter of the space of a posts is used for signature and four or five words are written as a new post in the rest of the used space.

Shouldn't it be the other way round or don't you think so? Would it make sense to cut all those abnormal huge signatures down to a normal level with clear rules about how a signature can be posted and how large it can be?

Take care / DanPickUp

Yes , signature should be short and sweet and not be like a bio-data.We must look into it.

Smart_trade

 

[LivetoTrade]

re: Day trading Nifty & Banknifty Futures

Looks like the same person responsible -

 

[TradeJoker]

re: Day trading Nifty & Banknifty Futures

Yes , signature should be short and sweet and not be like a bio-data.We must look into it.

Smart_trade

the first one we need to cut tail is sudoku Baba :lol:

 

[timepass]

re: Day trading Nifty & Banknifty Futures

Today's earnings - F&O plus 238/- ; Margin available Rs. 23046/-


+7

Today's earnings - F&O minus 5463/- ; Margin available Rs. 17583/-


-1

 

[sudoku1]

re: Day trading Nifty & Banknifty Futures

the first one we need to cut tail is sudoku Baba :lol:

d mkt is already widout a tail..cash mkt turnover skids at 8 yrs low to 13392 cr...n indices hiting historical highs..a cause of concern

 

[Taiki]

re: Day trading Nifty & Banknifty Futures

BNF :-

SAR ( exited the long and took short) below 11628( below 5 min 12:05 pl

low/15 min 12:15 pl low/30 min 12:30 pl low....... all three TF's pl low is same).........added add 1 below 5/15/30 min 1:00 bar low and add 2 below 5/15/30 min 2:00 bar low and sold all at 3:25.
Reason for that short trade

:-
(1) BOF of hod
(2) BOF of 30 min 10:30 ph
(3) TFA
(4) BD below consolidation




NF :-

SAR ( exited the long and took short) below 6390 ( below 5 min 10:40 pl low/ 15 min 10:45 pl low/ 30 min 11:00 pl low......all three TF's pl low is same) ....... added add 1 below 5/15/30 min 1:00 bar low and add 2 below 5/15/30 min 2:00 bar low and sold all at 3:25.

Resoan for that short trade :-
(1) BD of 30/60 min 11:00 pl low
(2) BD below 2:30 hrs consolidation
(3) TFA




Today made huge amount in both BNF & NF ..........:thumb:




HEM

Nice trade Hem bro..
But you sold all at 3:25, means you initiated the overnight positions at that time ?? Or did you mean you covered intraday short ??

Regards
Taiki

 

[Taiki]

re: Day trading Nifty & Banknifty Futures

1) The upmove builds slowly with lots of up/down....but the downmove is sudden. It is the nature of the market. The buying decision is gradual...selling is sudden, just like dumping the position.So upmove takes time to build, downmove comes tearing down, fast and ferocious.

2) If you are asking about daytrading, I use 5 min bars and I use the same chart for deciding the larger trend as well as trading the current moves. But market gives plenty of indications before it makes a move. Today from 9:40 to 12:00 Nifty was attempting to go up but every attempt its strength was falling short. Finally bulls gave up and that is where the bears seized an opportunity.

3) In trading entry is relatively easy but exit is difficult and exit is very crucial to the success or failure of a trader. The exit should be what we call "Just In Time " in management terminology ,that means not too early, not too late. This is as much an art as it is a science. I use the following to decide my exit levels.

a) Supports/resistances of hourly, daily bars.
b) Previous swing highs/lows
c) TDST Power of 9
d) VWAP Bands
e) Large bars, End of move bars
f) The bounce we get from the low
g) Overlapping bars

So based on the above the exit is taken. Booking part profits at important support levels also is a good strategy.

Smart_trade

Hi St da,

I guess the bounce from low is the exit strategy for short trade. Am i right in this assumption ?? And for long it would be fall from high.

Should we keep that candle's high as TSL for exiting from shorts if it is rising from low and closing on the candle' s high ?? Or we should exit at the close itself ??

Regards
Taiki