Scalper's Forum

[Niks]

Referring to the figure attached. In this case the bid is like a punch-board... you hit it and it bounces back. People keep selling at market on the bid... it is swallowed but is likely to pop up again at the same price. Hence we get the wicks in candlesticks. It tells about a big buyer who cant afford to buy silently because prices are like to explode very soon. He keeps the stock up by buying even when there are downtick in the broad market/nifty.
Small addition- if anyone has just started to monitor the bid-asks simultaneously with charts, at first it will appear hard, but easy after a month of preactice.

Regards
Nikhil.

 

[Niks]

My observations about about using 5 minute versus 1/2 minute time frame:

1. In using a larger TF the risk inherently increases. There is no way to increase reward potential while keeping the risk bounded.
2. In news effected stocks... like DLF posted yesterday, a 5 minute TF can prove expensive both in terms of booking loss or taking profit. The major move happens within 4-5 minutes.
3. Initiating a trade on a lower TF and holding on a larger TF(as it drifts to profit) should be done very selectively.
Awaiting seniors to correct me wherever required.

Regards
Nikhil.

 

[HEM]

Niks,
Great stuff. please keep it up.

Regards
Hemant

 

[devangan123]

Can Scalping be done without Intra-day Charts ????? , and It must be profitable and must have have a good success ratio ..........

Devan

Well first have to find out whether scalping without Intraday charts is profitable or not ,

Following are some of my tomorrow's scalping probables , instead of back testing we will do live testing before understanding this method


LICHSGFIN : Long @ 207.3 and exit at 209.4

Bank India : Long @ 224.2 and exit at 226.4

Unitech : long @ 28.7 and exit at 29.4

Relcapital : long @ 377 and exit at 381

Punjlloyd : long @ 86.1 and exit at 87

Zeel : Short @ 107.5 and cover at 106



P.S : Please Please above calls are not meant for trading , only check their performances , i am only doing some experiments and their is high probability that it may get failed


Devan

 

[Niks]

Devan Sir, what are there exits(stops) in case it goes against. Even for evaluating performance, do we have pre-determined stops?

 

[devangan123]

Devan Sir, what are there exits(stops) in case it goes against. Even for evaluating performance, do we have pre-determined stops?

first of all don't call me sir , i do not deserve that , neither by age nor by trading experience .


regarding stoploss i have not written deliberately , will discuss that after 3-4 days of testing ,


Devan

 

[HEM]

Can Scalping be done without Intra-day Charts ????? , and It must be profitable and must have have a good success ratio ..........


One method Dhiraj has told , what can be other ways ??

Have to rush right now, will post later in Night


Devan

Devangan123,
very good efforts. keep it up. we are egarly to know Can Scalping be done without Intra-day Charts and
if yes than it is profitable or not ?

Regards,
Hemant

 

[devangan123]

Well first have to find out whether scalping without Intraday charts is profitable or not ,

Following are some of my tomorrow's scalping probables , instead of back testing we will do live testing before understanding this method


LICHSGFIN : Long @ 207.3 and exit at 209.4

Bank India : Long @ 224.2 and exit at 226.4

Unitech : long @ 28.7 and exit at 29.4

Relcapital : long @ 377 and exit at 381

Punjlloyd : long @ 86.1 and exit at 87

Zeel : Short @ 107.5 and cover at 106



P.S : Please Please above calls are not meant for trading , only check their performances , i am only doing some experiments and their is high probability that it may get failed


Devan

Result was not up to expectation , will give one more try by posting tonight

 

[Niks]

Attaching today's trades-all news stocks. there were two more which I exit flat.

Regards
Nikhil.

 

[uasish]

Scalping thread revived Gr8,now a days getting detached from TJ's latest things.