Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
re: Day trading Nifty & Banknifty Futures
No problem with the language, but unable to understand how to convert the statements to trades. For example, Pratap posts charts and explains what is the trend, resistances at different levels even marks them out on the chart. When to go long at +1SD or -1SD etc.
But every trader is different, so when i see something like:
I am failing to understand, the meaning of "remain above". Does it mean, a candle of any timeframe should close above the price
, but what if there is a BreakDown in the next candle.
Another case, what if the price crosses the level very swiftly on huge volumes and within a 3 min candle itself rises 80-100 points.
I am eager to learn how to convert these subjective statements to trades.
No problem with the language, but unable to understand how to convert the statements to trades. For example, Pratap posts charts and explains what is the trend, resistances at different levels even marks them out on the chart. When to go long at +1SD or -1SD etc.
But every trader is different, so when i see something like:
I am failing to understand, the meaning of "remain above". Does it mean, a candle of any timeframe should close above the price
, but what if there is a BreakDown in the next candle. Another case, what if the price crosses the level very swiftly on huge volumes and within a 3 min candle itself rises 80-100 points.
I am eager to learn how to convert these subjective statements to trades.
re: Day trading Nifty & Banknifty Futures
Hi Humble
I think I got your problem
For my levels, dont go with candle movement or any timeframe.
These levels are price based and are applicable for any TF and so candle closing has nothing to do with it.
Now let me explain.
Suppose the price is moving upside from 7565 and when I say that after crossing 7580 it should remain above 7580 for a target of 7620.
It means that price should remain/sustain above 7580 for all practical purpose (may be 1-2 points below 7580 for a short time) but should move above 7580 again. It will be very unlikely that it will move up and down by 5 points at 7580 (that is 7575 - 7585 move) for a long time. If it is so then you have to wait for clarity.
Further, for any further upmove, price should remain at or above 7580 for sufficient time. Not that it just touch 7580 and reverts or just there for 4-5 minutes and reverts. And if it reverts even after that, then it will mean that price does not want to move up any further and the target is out of bound.
Your another query
"Another case, what if the price crosses the level very swiftly on huge volumes and within a 3 min candle itself rises 80-100 points. "
I think I answered this as well, as it depends on price and not timeframe.
My advice will be when following different methods/strategies, do not mix up them, keep them in isolation.
I hope, it is clear to you. If need any more clarity. Do write. I am online may be till 2 or so.
Further, I think, you must be a genius if you can understand and follow Pratap's charts and explanations. Because for me those are nothing more than a colourful/multicolour charts and black letters (kala akshar bhains barabar). I never be able to understand his charts (so hotch potch, no clarity, every time in different style) nor his explanations. Once I asked him through a post, that if he can make these things simpler or if he can explain these things in simpler terms. His reply was no, he cant. And he added that these are the simplest form of explanation. I kept quiet, What else can I do.
Hi Humble
I think I got your problem
For my levels, dont go with candle movement or any timeframe.
These levels are price based and are applicable for any TF and so candle closing has nothing to do with it.
Now let me explain.
Suppose the price is moving upside from 7565 and when I say that after crossing 7580 it should remain above 7580 for a target of 7620.
It means that price should remain/sustain above 7580 for all practical purpose (may be 1-2 points below 7580 for a short time) but should move above 7580 again. It will be very unlikely that it will move up and down by 5 points at 7580 (that is 7575 - 7585 move) for a long time. If it is so then you have to wait for clarity.
Further, for any further upmove, price should remain at or above 7580 for sufficient time. Not that it just touch 7580 and reverts or just there for 4-5 minutes and reverts. And if it reverts even after that, then it will mean that price does not want to move up any further and the target is out of bound.
Your another query
"Another case, what if the price crosses the level very swiftly on huge volumes and within a 3 min candle itself rises 80-100 points. "
I think I answered this as well, as it depends on price and not timeframe.
My advice will be when following different methods/strategies, do not mix up them, keep them in isolation.
I hope, it is clear to you. If need any more clarity. Do write. I am online may be till 2 or so.
Further, I think, you must be a genius if you can understand and follow Pratap's charts and explanations. Because for me those are nothing more than a colourful/multicolour charts and black letters (kala akshar bhains barabar). I never be able to understand his charts (so hotch potch, no clarity, every time in different style) nor his explanations. Once I asked him through a post, that if he can make these things simpler or if he can explain these things in simpler terms. His reply was no, he cant. And he added that these are the simplest form of explanation. I kept quiet, What else can I do.
Last edited:
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