Day Trading Stocks & Futures

[nirav_j]

re: Day trading Nifty & Banknifty Futures

Various Scenarios till the budget and after the budget.

...

Issued in public interest....

Smart_trade

the bold part dear sir is genuine help of "mankind".

 

[RAAMAKANT]

re: Day trading Nifty & Banknifty Futures

ST da,
I know Trading is the business of success and failure,
Its the game of Emotions involving pain and pleasure,
Its the process of building our way with trial and error,
Its finding our strengths and weakness to achieve our desire...

But how to keep our mind relaxed, focused and more controlled in this process of being a Consistant Successful Trader ?
Any insight ?

 

[TradeJoker]

re: Day trading Nifty & Banknifty Futures

the bold part dear sir is genuine help of "mankind".

'mankind' is copyrighted word

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

ST da,
I know Trading is the business of success and failure,
Its the game of Emotions involving pain and pleasure,
Its the process of building our way with trial and error,
Its finding our strengths and weakness to achieve our desire...

But how to keep our mind relaxed, focused and more controlled in this process of being a Consistant Successful Trader ?
Any insight ?

Relaxed and focussed mind comes from the confidence from our trading craft, method and on ourselves. This confidence is not about being right on every trade...but the confidence is that we can come out of any difficult situation successfully. It could be because of the way a person trades, his discipline to follow his method and stoplosses, because of the backtests he has done in various types of markets.It comes from the subconcious confirmation that nothing will bring financial and emotional hardships if we follow our methods and stops. It also comes from the financial and emotional rewards which a good trading gives to its practitioner.

Relaxed mind also comes with a good Reward to risk of the method we follow. Any single trade if failed should not give any pain to a trader...It is natural to have some anxiety when we are in a trade...but if it fails, the pain comes from the fact that we have overtraded and suffered a big dent to our capital. If it is a normal trade, it has almost equal chances of success and failure for that particular trade...so the trader should think that if it is successful, he will make 3 R on that trade, if it fails he will loose 1 R and over a large number of trades, he is going to definately make money because of his high RR .

The moment we feel pain and tension , be sure that there is something wrong with our trading. The pain and tension is the symptom...not the cause of the problem...Try to identify the root problem for permanent solution and then trading will be fun...not a activity giving tension and fear. Easier said than done and requires years to achieve this.

Smart_trade

 

[manishchan]

re: Day trading Nifty & Banknifty Futures

[/B]

Relaxed and focussed mind comes from the confidence from our trading craft, method and on ourselves. This confidence is not about being right on every trade...but the confidence is that we can come out of any difficult situation successfully. It could be because of the way a person trades, his discipline to follow his method and stoplosses, because of the backtests he has done in various types of markets.It comes from the subconcious confirmation that nothing will bring financial and emotional hardships if we follow our methods and stops. It also comes from the financial and emotional rewards which a good trading gives to its practitioner.

Relaxed mind also comes with a good Reward to risk of the method we follow. Any single trade if failed should not give any pain to a trader...It is natural to have some anxiety when we are in a trade...but if it fails, the pain comes from the fact that we have overtraded and suffered a big dent to our capital. If it is a normal trade, it has almost equal chances of success and failure for that particular trade...so the trader should think that if it is successful, he will make 3 R on that trade, if it fails he will loose 1 R and over a large number of trades, he is going to definately make money because of his high RR .

The moment we feel pain and tension , be sure that there is something wrong with our trading. The pain and tension is the symptom...not the cause of the problem...Try to identify the root problem for permanent solution and then trading will be fun...not a activity giving tension and fear. Easier said than done and requires years to achieve this.

Smart_trade

Wow... one of the best teachings for a trader.. and amazingly simplified by Da. :clapping:
Most of the people who give up and look for different method/holy grails etc are the ones who mistake the symptoms as the cause. Often we see few losses and our painful mind starts to give up on the method and hunting for a something better starts. But like you said.. we need to test and trust our system/methods that we trade and control the RR/MM. If done well, even the simplest method gives great returns in the long run... and trading becomes a pleasurable journey

 

[stock72]

re: Day trading Nifty & Banknifty Futures

[/B]

Relaxed and focussed mind comes from the confidence from our trading craft, method and on ourselves. This confidence is not about being right on every trade...but the confidence is that we can come out of any difficult situation successfully. It could be because of the way a person trades, his discipline to follow his method and stoplosses, because of the backtests he has done in various types of markets.It comes from the subconcious confirmation that nothing will bring financial and emotional hardships if we follow our methods and stops. It also comes from the financial and emotional rewards which a good trading gives to its practitioner.

Relaxed mind also comes with a good Reward to risk of the method we follow. Any single trade if failed should not give any pain to a trader...It is natural to have some anxiety when we are in a trade...but if it fails, the pain comes from the fact that we have overtraded and suffered a big dent to our capital. If it is a normal trade, it has almost equal chances of success and failure for that particular trade...so the trader should think that if it is successful, he will make 3 R on that trade, if it fails he will loose 1 R and over a large number of trades, he is going to definately make money because of his high RR .

The moment we feel pain and tension , be sure that there is something wrong with our trading. The pain and tension is the symptom...not the cause of the problem...Try to identify the root problem for permanent solution and then trading will be fun...not a activity giving tension and fear. Easier said than done and requires years to achieve this.

Smart_trade

What a statement ST,,, great :thumb::thumb:

 

[niftytaurus]

re: Day trading Nifty & Banknifty Futures

Hi Friends

Make or break in Hindalco ..make or break zone on confluence area of trendlines & support area. besides it is also near 21ema

besides this nifty,banknifty & many scrips are near to break or make level...many are near to support area or near trendline..weekly timeframes are in bullish trend..besides, weakness can be seen in daily..from last 2 week, both bulls & bears are fighting to take market in their territory..as we can see double doji in last 2 week...so now they are on LOC..it would be very intresting to see where will it take to market?.. tommorrow & next week will be very important for further trend...
It will be very unfruitful question that where will it go? As a trader ,we dont need to know where market will go..as prediction can be very dangerous..but as a trader we just live in present & will do what market will say..we just have to listen market..we will see what it will show..we cant tell it what to do..we just need to follow it ..
As a technical trader,I dont watch news or trade on news..but budget is imortant event which is coming in 2nd week of july . some .retails are enthuastic..some retailers are waiting for correction for a buy..some are very bullish..buying at every dip..some are waiting for a big correction...so hopes,fear ..greed ..all are there...but what little I learn from my little experience is that market never do what majority of retail traders think..market always do unexpected..so I think as a trader we should not assume, predict or guess...we should just follow what price will say...all emotion will be written on charts...so listen price, listen market, listen each candle...HAR CANDLE KUCH KAHTI HAI..
who will win bear or bulls ..I dont know...What little I know the levels or LOC..bulls or bears who will win those territories..will take market further in their direction..as a retail trader..we are chameleon..we will be with winning troop...& we can change side any moment as soon as we see that our troop is weakning..as a retail trader, we just have this much fascility that we can entry & exit easily..not like our big brothers who have to leave trails..
all the best & happy & profitable trading

 

[umesh12]

re: Day trading Nifty & Banknifty Futures

Hi Friends

Make or break in Hindalco ..make or break zone on confluence area of trendlines & support area. besides it is also near 21ema

besides this nifty,banknifty & many scrips are near to break or make level...many are near to support area or near trendline..weekly timeframes are in bullish trend..besides, weakness can be seen in daily..from last 2 week, both bulls & bears are fighting to take market in their territory..as we can see double doji in last 2 week...so now they are on LOC..it would be very intresting to see where will it take to market?.. tommorrow & next week will be very important for further trend...
It will be very unfruitful question that where will it go? As a trader ,we dont need to know where market will go..as prediction can be very dangerous..but as a trader we just live in present & will do what market will say..we just have to listen market..we will see what it will show..we cant tell it what to do..we just need to follow it ..
As a technical trader,I dont watch news or trade on news..but budget is imortant event which is coming in 2nd week of july . some .retails are enthuastic..some retailers are waiting for correction for a buy..some are very bullish..buying at every dip..some are waiting for a big correction...so hopes,fear ..greed ..all are there...but what little I learn from my little experience is that market never do what majority of retail traders think..market always do unexpected..so I think as a trader we should not assume, predict or guess...we should just follow what price will say...all emotion will be written on charts...so listen price, listen market, listen each candle...HAR CANDLE KUCH KAHTI HAI..
who will win bear or bulls ..I dont know...What little I know the levels or LOC..bulls or bears who will win those territories..will take market further in their direction..as a retail trader..we are chameleon..we will be with winning troop...& we can change side any moment as soon as we see that our troop is weakning..as a retail trader, we just have this much fascility that we can entry & exit easily..not like our big brothers who have to leave trails..
all the best & happy & profitable trading

Hi niftytaurus
Are you trading in Hindalco.
Anyone else also.

My analysis will be: Any down move below 160 will be the first confirmation for further fall and below 153 will be the final confirmation for 145-40 from where it started its upmove after a long consolidation phase.

On the other hand if it closes above 175 for 2-3 days, then it can move to much higher levels.

 

[LivetoTrade]

re: Day trading Nifty & Banknifty Futures

 

[RAAMAKANT]

re: Day trading Nifty & Banknifty Futures

[/B]

Relaxed and focussed mind comes from the confidence from our trading craft, method and on ourselves. This confidence is not about being right on every trade...but the confidence is that we can come out of any difficult situation successfully. It could be because of the way a person trades, his discipline to follow his method and stoplosses, because of the backtests he has done in various types of markets.It comes from the subconcious confirmation that nothing will bring financial and emotional hardships if we follow our methods and stops. It also comes from the financial and emotional rewards which a good trading gives to its practitioner.

Relaxed mind also comes with a good Reward to risk of the method we follow. Any single trade if failed should not give any pain to a trader...It is natural to have some anxiety when we are in a trade...but if it fails, the pain comes from the fact that we have overtraded and suffered a big dent to our capital. If it is a normal trade, it has almost equal chances of success and failure for that particular trade...so the trader should think that if it is successful, he will make 3 R on that trade, if it fails he will loose 1 R and over a large number of trades, he is going to definately make money because of his high RR .

The moment we feel pain and tension , be sure that there is something wrong with our trading. The pain and tension is the symptom...not the cause of the problem...Try to identify the root problem for permanent solution and then trading will be fun...not a activity giving tension and fear. Easier said than done and requires years to achieve this.

Smart_trade

ST Da, now I got my answer, Thank you very much....