Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
re: Day trading Nifty & Banknifty Futures
http://www.tradersaintforum.com/forum/showthread.php?640-Swift-Intraday-Trading-Method
http://www.tradersaintforum.com/forum/showthread.php?640-Swift-Intraday-Trading-Method
re: Day trading Nifty & Banknifty Futures
Thanku very much for ur prompt & compprehensive reply...
I think I will experiment with those methods....& will use which best suit for me..
but there is another confusion in my trading....I generally trade stock futures.I choose 5 stocks every morning .& mostly which has lot of 500 or 1000...& my object is to get quick 1000 per trade ..means 1 or 2 rs appreciation on each trade...so my reward is very low ..so I cant take big risk...so my mistake is i dont put sl on system...i put 500 rs stoploss in my mind..but if scrip doesnt go instantly in my direction..& whipsaw 500 rs( 1 point or 0.5 point scripwise) easily..& then it goes in my direction..my entries are 90% times right & at right direction..but i has to bear loss..as market take my sl & goes in my direction..
I know this way is not right..but what to do? my psychology doesnt allow me to take big losses..so I couldnt take wide sl..
as I know,I should put sl on any minor pivot low...but I dont have himmat to put my sl there...as my target is very low..so R:R Ratio is not favourable...
please put light on this..& ST da & other senor members please help me in it..
please give ur suggestion on this...
thanks again
Thanku very much for ur prompt & compprehensive reply...
I think I will experiment with those methods....& will use which best suit for me..
but there is another confusion in my trading....I generally trade stock futures.I choose 5 stocks every morning .& mostly which has lot of 500 or 1000...& my object is to get quick 1000 per trade ..means 1 or 2 rs appreciation on each trade...so my reward is very low ..so I cant take big risk...so my mistake is i dont put sl on system...i put 500 rs stoploss in my mind..but if scrip doesnt go instantly in my direction..& whipsaw 500 rs( 1 point or 0.5 point scripwise) easily..& then it goes in my direction..my entries are 90% times right & at right direction..but i has to bear loss..as market take my sl & goes in my direction..
I know this way is not right..but what to do? my psychology doesnt allow me to take big losses..so I couldnt take wide sl..
as I know,I should put sl on any minor pivot low...but I dont have himmat to put my sl there...as my target is very low..so R:R Ratio is not favourable...
please put light on this..& ST da & other senor members please help me in it..
please give ur suggestion on this...
thanks again
:thumb:
re: Day trading Nifty & Banknifty Futures
Hi Hem
which method do u follow? is it mini flow?
I have read ur other thread on price action..that one is also fantastic thread..thanks for ur knowledge sharing & wonderful insight on price action..
I request to all senior members who are profiting consistently from price action..please start a new thread where pure price action ,flow method & swift method etc which based only on price..
thanks
Hi Hem
which method do u follow? is it mini flow?
I have read ur other thread on price action..that one is also fantastic thread..thanks for ur knowledge sharing & wonderful insight on price action..
I request to all senior members who are profiting consistently from price action..please start a new thread where pure price action ,flow method & swift method etc which based only on price..
thanks
re: Day trading Nifty & Banknifty Futures
Your trading reminds me of a real life example of one of my trader friends. He was a dare-devil and he will sell/buy 10000 no of shares and his profit target used to be just 0.50 or 50 paise...so if he makes 50 paise it used to be Rs 5000 and that used to be in less than a minute. He would always tell me..." yar Rs 5000 in less than a minute is not bad....." I told him that I can mathematically prove that you will go bankrupt. How ?? Asked him if the trade goes against him then how much he will loose....he said hmmm may be 3 or 4 Rs ...then I told hin that suppose you do 10 trades...70 % of them is right...so @ 0.5 you collect 3.5 x10000 =Rs 35000 on your successful trades and on 3 loosing trades you loose 3x3x10000= 90,000....and we are taking 70 % success rate which is very high and not considering brokerage taxes etc.....so you make 35000 on right trades and loose 90000on wrong trades in every batch of 10 trades...and it is mathematically certain thet you will soon go bankrupt......
Same thing happened..he actually went bankrupt and had to sell many of his assets to fund the continuing losses.....finally gave up trading................
This is a real example....
Smart_trade
Your trading reminds me of a real life example of one of my trader friends. He was a dare-devil and he will sell/buy 10000 no of shares and his profit target used to be just 0.50 or 50 paise...so if he makes 50 paise it used to be Rs 5000 and that used to be in less than a minute. He would always tell me..." yar Rs 5000 in less than a minute is not bad....." I told him that I can mathematically prove that you will go bankrupt. How ?? Asked him if the trade goes against him then how much he will loose....he said hmmm may be 3 or 4 Rs ...then I told hin that suppose you do 10 trades...70 % of them is right...so @ 0.5 you collect 3.5 x10000 =Rs 35000 on your successful trades and on 3 loosing trades you loose 3x3x10000= 90,000....and we are taking 70 % success rate which is very high and not considering brokerage taxes etc.....so you make 35000 on right trades and loose 90000on wrong trades in every batch of 10 trades...and it is mathematically certain thet you will soon go bankrupt......
Same thing happened..he actually went bankrupt and had to sell many of his assets to fund the continuing losses.....finally gave up trading................
This is a real example....
Smart_trade
re: Day trading Nifty & Banknifty Futures
Thats a perfect example, ST. when I started trading stock futures I did the same but later realized tat all that matters is not high accuracy, its how much we make when we gain and how much we lose when we r wrong.
Now I continue to trade stock futures, mostly positional., when I lose, it would be max 5 % of capital and when I gain its around 10 to 15% per trade. And more over, I put only 50% of my capital in every trade, remaining money I use it buffer money in case my stock pick takes time to move in my direction.
Generally ppl use such minimum stop loss because of low capital. So instead of going for stock futures, u can switch over to cash segment, so that u can reduce the lot size to 100, 200, etc. So that u can fix ur stop loss as per chart instead of price.
Thats a perfect example, ST. when I started trading stock futures I did the same but later realized tat all that matters is not high accuracy, its how much we make when we gain and how much we lose when we r wrong.
Now I continue to trade stock futures, mostly positional., when I lose, it would be max 5 % of capital and when I gain its around 10 to 15% per trade. And more over, I put only 50% of my capital in every trade, remaining money I use it buffer money in case my stock pick takes time to move in my direction.
Generally ppl use such minimum stop loss because of low capital. So instead of going for stock futures, u can switch over to cash segment, so that u can reduce the lot size to 100, 200, etc. So that u can fix ur stop loss as per chart instead of price.
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