diary of a day trader

[VIKAS 21]

ST Sir

1.point 1 is marked as th previous resistance

2.point 2 is candlestic pattern( Dark cloud cover)

3. point 3 is a pivot

If taking a positional trade will you go short below the point 2 as confirmation of candlestic reversal pattern at previous resistance level or will look for some more confirmation???

 

[Smart_trade]

ST Sir

1.point 1 is marked as th previous resistance

2.point 2 is candlestic pattern( Dark cloud cover)

3. point 3 is a pivot

If taking a positional trade will you go short below the point 2 as confirmation of candlestic reversal pattern at previous resistance level or will look for some more confirmation???

Will go short below point 2 candle low. Because the chart has lost its gradient and is horizontal now which means that market is topping out and smart money is distributing. But if the gradient is steep ( like it is today) I will wait for some more market action for confirmation before going short in positional trade.

ST

 

[VIKAS 21]

Will go short below point 2 candle low. Because the chart has lost its gradient and is horizontal now which means that market is topping out and smart money is distributing. But if the gradient is steep ( like it is today) I will wait for some more market action for confirmation before going short in positional trade.

ST

Wow ......


Thanks a lot Sir...

Really your every word has a very powerful trading idea behind it....

Will also look this things in future while looking for trades.....

 

[VIKAS 21]

ST Sir

sorry for disturbing you again & again

1.In the above chart point 1 is bullish Engulfing candlestic pattern but no previous support level there & MA curve is also inclined downward,, SO will you avoid Long trades??

2. point 2 is previous support level & bullish engulfing & piercing pattern both & MA is almost flat though not inlined upward,, Would you go for that trade??

 

[Smart_trade]

ST Sir

sorry for disturbing you again & again

1.In the above chart point 1 is bullish Engulfing candlestic pattern but no previous support level there & MA curve is also inclined downward,, SO will you avoid Long trades??

2. point 2 is previous support level & bullish engulfing & piercing pattern both & MA is almost flat though not inlined upward,, Would you go for that trade??

Better place to go long is point 2 as it is a test of the bottom at point 1.

But I will still go long at point 1 also . Why ? Because of steep fall preceeding point 1. But this trade will be a short term trade and will get out on break of PL.Going long at point No 1 is risky.

Dont take trades on Candlestick patterns alone,these patterns combined with other things will give you more reliable trades.


ST

 

[rajgreenpeace]

I am reading this thread from last 2 months and found this very interesting. I have one query regarding stock futures liquidity and hope will get answer from helpful traders like you.
I am doing intraday trading in nse cash stocks from last 6 months. Now I am planning to shift to futures. I would like to know is there anybody doing intraday trading in stock futures in huge quantity say 10 lots or more. For intraday traders is it possible to trade with 10 lots or more, as we tend to take small profits so order is huge then slippage points will be more. My stock preferences are rcom, vip and rel infra. There is a huge difference in stocks (cash) and stocks (futures) with respect to volumes. xperienced traders pls help. thnx in advance !!

ST Sir/Ravi bhai/Friends please help!!

M trading SBIN more than 10 lots.........I req before stocks future trading you have to trade at least one year Index Trading:thumb::thumb::thumb:

 

[VIKAS 21]

Better place to go long is point 2 as it is a test of the bottom at point 1.

But I will still go long at point 1 also . Why ? Because of steep fall preceeding point 1. But this trade will be a short term trade and will get out on break of PL.Going long at point No 1 is risky.

Dont take trades on Candlestick patterns alone,these patterns combined with other things will give you more reliable trades.


ST

Yes Sir

I will take trade no 2 as it is more reliable as it is at previous support level.

what other things can be combined with candlestic patterns at previous support/resistance levels??

1.Stochastics/Rsi
2.Bollinger band
3.Fibbonacci levels
4.Moving averages
5.PH/PL can't be considered here as the fall is steep

 

[tspact]

M trading SBIN more than 10 lots.........I req before stocks future trading you have to trade at least one year Index Trading:thumb::thumb::thumb:

thnx for your suggestion.
but why to start with index future. I am already trading in nse stocks (cash)....

Have you faced any trouble during trade execution, what are general slippage points as you are trading in sbin more than 10 lots, means over 1250 shares. so what is the difference between your actual order and executed order. my problem is if there is difference of more than 2 points (my actual order lets say @ 2000 and bcause of huge quantity order average price comes out to be @ 2003 then I already lost 3 point so then there is no point in trading with that quantity because I look for small profits.... hence this query. I dont have guts to do it practically so need help from experienced traders.
thnx for the reply

 

[rajgreenpeace]

thnx for your suggestion.
but why to start with index future. I am already trading in nse stocks (cash)....

Have you faced any trouble during trade execution, what are general slippage points as you are trading in sbin more than 10 lots, means over 1250 shares. so what is the difference between your actual order and executed order. my problem is if there is difference of more than 2 points (my actual order lets say @ 2000 and bcause of huge quantity order average price comes out to be @ 2003 then I already lost 3 point so then there is no point in trading with that quantity because I look for small profits.... hence this query. I dont have guts to do it practically so need help from experienced traders.
thnx for the reply

First read this after that I will reply........http://www.tradingpicks.com/risk_trading.htm

 

[tspact]

First read this after that I will reply........http://www.tradingpicks.com/risk_trading.htm

very nice article, I always put stoploss for each trade to minimize the risk