re: Day trading Nifty & Banknifty Futures
Ravibhai, today was a trending day, a good day for trend traders like you and me. But, if we lose in these days its the mistake of the method we use, it means as ST said that the method is not capturing actionable price ranges to exit or reverse when market puts reverse gear.
You seriously need to think about it, my friendly advice please dont mistake.
Why am saying is if we don't take good profits these days we can never face the minor whipsaws on ranging days.
Please tell me how you missed the reverse move, I may be able to help you on this, as I also faced this issue some 6 months ago and now able to trade both ways in the day without any bias.
Just take it as a fellow brother's advice,
check the charts once more, easily showing reversal move, how?
If you trade on 5 min chart you need to trade only in the direction of 30 min chart correct?
see 30 min chart PH break confirming change from DT to UT by break of 11:45 PH. I don't see multiple time frames because its difficult, so if you are trading 5 min charts put an sma line in your chart, I use MA21 line its best for 5 min chart according to me, if you trade one min chart use MA60.
Any PH break above MA line and you need to be long and Any PL break below MA line you need to be short. You may already know this, I am just reminding you to implement it, otherwise its going to be frustrating.
Ravibhai, today was a trending day, a good day for trend traders like you and me. But, if we lose in these days its the mistake of the method we use, it means as ST said that the method is not capturing actionable price ranges to exit or reverse when market puts reverse gear.
You seriously need to think about it, my friendly advice please dont mistake.
Why am saying is if we don't take good profits these days we can never face the minor whipsaws on ranging days.
Please tell me how you missed the reverse move, I may be able to help you on this, as I also faced this issue some 6 months ago and now able to trade both ways in the day without any bias.
Just take it as a fellow brother's advice,
check the charts once more, easily showing reversal move, how?
If you trade on 5 min chart you need to trade only in the direction of 30 min chart correct?
see 30 min chart PH break confirming change from DT to UT by break of 11:45 PH. I don't see multiple time frames because its difficult, so if you are trading 5 min charts put an sma line in your chart, I use MA21 line its best for 5 min chart according to me, if you trade one min chart use MA60.
Any PH break above MA line and you need to be long and Any PL break below MA line you need to be short. You may already know this, I am just reminding you to implement it, otherwise its going to be frustrating.
f occurrences compared to smaller TFs. Suppose, you think that initially whenever you enter your trade goes into profit even a good profit but because of following pivot system it might become a looser trade sometimes, so this idea can also be used.
