Suggestion required on intraday strategy...

[WOD]

Hi all,

I have been doing positional trading and now looks like I am ready to do intraday trading.

The strategy that I was following to do positional trading was that:

1. Always traded into the stock whose volumes are going up since atleast five trading session.
2. Always concentrated on large cap segment.
3. Mainely concentrated on speculative but fundamentally strong stocks
4. Sometimes do traded against the trend.
5. Not used technical chart frequently.

But still was able to make good profits of around 30% in the market.

Now I am not sure If this strategy is gonna work for me or not, while doing intraday trading.

Please suggest me modifications in my strategy, if any, so that I could be successful in intraday trading as well.
I would appreciate if someone could give any additional guidelines.


Expecting a reply from my friends Columbs, Adheer, haribird.

Thanks

WOD

 

[NOMINDTR]

Take Care.

If you are new to (only new to ) "Random Walks" & "Market efficiency" hypothesis, then

http://www.investopedia.com/terms/r/randomwalktheory.asp

http://www.investopedia.com/terms/e/efficientmarkethypothesis.asp

 

[WOD]

Thanks gsalvadi, I appreciate your suggestion

Fact is, I am good at random walk theory, my consistent profits are proof for that. I do agree that in course of doing so, I take considerable risks.
The other side of coin is that, I am really not in favour of technical analysis, but believe that to make good profits in market you need to use Random walk theory with technical analysis.

So my strategy has always been more inclined towards random walk theory, with little bit use of technical analysis(using to mitigate risk involved in random walk theory)

Someone would like to comment on this? would be highly appreciated.

 

[NOMINDTR]

Dear WOD,

Every one of us must come out with our own system for trading, decision making and to manage risk.

Just keep on exploring things in your own way and keep refining it based on your own experience.

Happy Journey

 

[columbus]

Expecting a reply from my friends Columbs, Adheer, haribird.

WOD

My sincere suggestions would be ,try MINIFTY first with trading tools
rather than going for NIFTY straight away.

 

[WOD]

Gsalvadi,

Thanks, appreciate your kind words.

psb67,

Thanks for providing here your own trading strategy...looks like it matches to mine to a great extent.

Columbs,

I totally respect your suggestion, and will go for minifty. I know I would have your guidence when it will be required, as always.

Thanks for your consistent help.