@pdeoghare,
S/R should jump out at you. A 10 yr old should be able to identify S/R levels. Most importantly if you see flips in S/R levels, those are key levels. Watch price action there.
About stock selection. like i said if you pick a low price stock, you will need a large order to make any kind of profit and it will be difficult to get a large order filled. By large order i mean in hundreds or even thousands. e.g any stock who price is less than 200-300. For these kinds of stocks best to trade in futures. Another thing about stock selection , pick the ones which have good volume. use any site like money control , you will get a nice big list. There are some stocks which are less liquid and the same thing happens either your orders don't get filled or your stops will be skipped, which is dangerous to your account. There are about good 20 stocks along with NIFTY , that provide good volume. use NSE site for picking most active stocks , F&O.
If and when you decide to trade with nice big account, you simply cannot trade low price stocks on 5-15 min time frame. your orders are just not going to get filled. you can try this, but try not to lose money.
So did anyone catch a good move today?
S/R should jump out at you. A 10 yr old should be able to identify S/R levels. Most importantly if you see flips in S/R levels, those are key levels. Watch price action there.
About stock selection. like i said if you pick a low price stock, you will need a large order to make any kind of profit and it will be difficult to get a large order filled. By large order i mean in hundreds or even thousands. e.g any stock who price is less than 200-300. For these kinds of stocks best to trade in futures. Another thing about stock selection , pick the ones which have good volume. use any site like money control , you will get a nice big list. There are some stocks which are less liquid and the same thing happens either your orders don't get filled or your stops will be skipped, which is dangerous to your account. There are about good 20 stocks along with NIFTY , that provide good volume. use NSE site for picking most active stocks , F&O.
If and when you decide to trade with nice big account, you simply cannot trade low price stocks on 5-15 min time frame. your orders are just not going to get filled. you can try this, but try not to lose money.
So did anyone catch a good move today?
My aim is to trade in futures of stocks between 200-300 (where 1 lot = 1000). So I will keep practicing on Bhel, SesaGoa, DLF and few more nifty stock so i have a good understanding. Its ok if I do not make money in cash market on them. Lets see how it works out.
- Pallavi
