Live Intraday Trading By Professional traders

[ryan4ucar]

reading volume chapter in the book TECHM came to my mind -
1. 3 days of ranging action and failure to sustain above 1260.
2. Compared to other days, opening volume yesterday was less. When we consider breakout above 1260 also then volume was much lesser. Expected volume was atleast equal to if not more than other days opening session volume.
3. Then it stalled for about 30 minutes above 1270. Break below it then lead it to thursdays range.

As i don't use volume my plan for this week would be to watch volume and it's affect on higher timeframe.

I basically use volume to differentiate a reversal from a pullback, so if there is a low volume breakout of price and the market is not acting well ill be skeptical about retracements , the real revel was 1250 for the past few days 1260 was just another level where one can have small size , 1250 was the make or break level ,i use this data in conjunction with data from nifty as the nifty was down trending it helped my postion so more the factors helping you the better it is and more size should be traded

 

[Vertigo_1985]

I use price levels and trend lines enough for me ... although many sucessful traders do use ema and fibonacci i personally think pivot levels is a total joke ... also reactive practive to much mumbo jumbo ... one needs to build intuition in trading which can only come from reviewing trades and 1000 of charts and following and reading about sucessful traders.

We may be already using the things mentioned (ema, trendline..), giving names i think just brings some more clarity by making us think more about them.

I too don't use ema, fibonacci. People have made sites, threads, applications on pivot levels, many claim they trade them successfully but don't know the authenticity of such claims.

There is nothing that can replace screen time like you can't learn riding a bike without being on a bike .

 

[ryan4ucar]

We may be already using the things mentioned (ema, trendline..), giving names i think just brings some more clarity by making us think more about them.

I too don't use ema, fibonacci. People have made sites, threads, applications on pivot levels, many claim they trade them successfully but don't know the authenticity of such claims.

There is nothing that can replace screen time like you can't learn riding a bike without being on a bike .

price derived indicator are a waste of time for me ...people use whatever works (or atleast they think it works)for them , ive have used a lot of indicators before and ended up making most money using no indicators at all that indeed works for me

 

[Vertigo_1985]

Learning form to leave form .

Those who have experienced it will understand what i want to say .

 

[Vertigo_1985]

in SMB blog i read that they also check open interest to see how much short has been created for possible short covering. How to do that ?

 

[Ameet148]

Scrips to watch tomorrow:
TITAN
AMBUJACEM
SUNTV
ARCHIES
JPPOWER
POLARIS

 

[ryan4ucar]

Scrips to watch tomorrow:
TITAN
AMBUJACEM
SUNTV
ARCHIES
JPPOWER
POLARIS

hey Ameet welcome back buddy where were you hiding ;-)

 

[ryan4ucar]

in SMB blog i read that they also check open interest to see how much short has been created for possible short covering. How to do that ?

I think you mean short interest ? we dont get the data here as we dont have overnight short delivery... the smb material is damn good but you have to keep in mind that its for us stocks , indian stocks act differently than us markets so different techniques need to be applied , for example its easier to trade brekouts in us markets then indian markets ... just observe how infy behaves in indian and us markets

 

[ryan4ucar]

Scrips to watch tomorrow:
TITAN
AMBUJACEM
SUNTV
ARCHIES
JPPOWER
POLARIS

good pics except archies dont think its a daytrading stock

 

[ryan4ucar]

Learning form to leave form .

Those who have experienced it will understand what i want to say .

din get you