Thoughts on Day/Swing Trading Part 2
- Thread starter DanPickUp
- Start date
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Dear Gaur_Krishna,
Not sure about the entire thread, but was using
http://www.httrack.com/
to download the whole site , offline
===========
Dear Gaur_Krishna,
Not sure about the entire thread, but was using
http://www.httrack.com/
to download the whole site , offline
===========
St DA
Thank you for all your efforts & time you are devoted to teaching us...
I have some queries .whenever you have time,please reply it
1) How can we do swing trading intraday in options (only buying options) ( I mean benifit from intraday swing) ,using intraday 5min or 1 min chart?
2) As you suggested ,i am using pivot point & 21 ema on intraday to buy option.Its quite successful in it.I make some profit also out of it..thanks to u...can you tell me how will i decide my exact entry & exit points...where should i put my stoploss...
Right nw I am applying,that i see a trend if the pivot is making & I entry on any pull back & for exit ..I use some some support or resistance...for stoploss i use money stoploss of 5 points...but sometimes, i have to sell my option on stop loss..& then again move continue on my direction ....please guide me.
3) I am reading Price action books by Albrooks...I am applying only his price action methods in trading...Is it sufficient to learn only al brook method..or should you suggest some other price action method books? is price action method sufficient to trade intraday & 4-5 days positional swing trading or should i learn some other indicatiors or use some other method with it? can we use price action method on swing & positional trading also i.e. on daily charts & weekly charts?
thanks
Thank you for all your efforts & time you are devoted to teaching us...
I have some queries .whenever you have time,please reply it
1) How can we do swing trading intraday in options (only buying options) ( I mean benifit from intraday swing) ,using intraday 5min or 1 min chart?
2) As you suggested ,i am using pivot point & 21 ema on intraday to buy option.Its quite successful in it.I make some profit also out of it..thanks to u...can you tell me how will i decide my exact entry & exit points...where should i put my stoploss...
Right nw I am applying,that i see a trend if the pivot is making & I entry on any pull back & for exit ..I use some some support or resistance...for stoploss i use money stoploss of 5 points...but sometimes, i have to sell my option on stop loss..& then again move continue on my direction ....please guide me.
3) I am reading Price action books by Albrooks...I am applying only his price action methods in trading...Is it sufficient to learn only al brook method..or should you suggest some other price action method books? is price action method sufficient to trade intraday & 4-5 days positional swing trading or should i learn some other indicatiors or use some other method with it? can we use price action method on swing & positional trading also i.e. on daily charts & weekly charts?
thanks
Dear Smart Trade,
I have continued with the paper trades and following are my observations:-
1. The strategy is working great on the scrips that I have added in the preview.
2. I also checked the strategy on tata motors but the portfolio was down 4% after which I stopped managing that scrip.
3. All results are paper trades only and I havent started trading yet.
4. In case on Bank Nifty, profits of around Rs 40k have come in 2 days (around 20k each). I dont know if this is a good news or a bad news. I dont know if in real trading I will be able to hold my position by strictly following the rules without caring how much profits have been made, its far easy to do it in paper trading. What are your thoughts on this point?
5. Do you suggest any other scrips on which I can trade?
6. I would like to do swing trading in nifty but it seems to be very difficult. Also, bank nifty is easier than nifty in day trading. What are your thoughts on this?
7. Do these results sound achievable to you or you think its not possible to gain so much in real life?
8. To begin with, I wont be trading Bank nifty due to lot size problems. Please suggest 2 scrips form the table which you think are the best ones. Please also suggest any other scrips to test.
Eagerly waiting for your reply.
Regards,
ptk
I have continued with the paper trades and following are my observations:-
1. The strategy is working great on the scrips that I have added in the preview.
2. I also checked the strategy on tata motors but the portfolio was down 4% after which I stopped managing that scrip.
3. All results are paper trades only and I havent started trading yet.
4. In case on Bank Nifty, profits of around Rs 40k have come in 2 days (around 20k each). I dont know if this is a good news or a bad news. I dont know if in real trading I will be able to hold my position by strictly following the rules without caring how much profits have been made, its far easy to do it in paper trading. What are your thoughts on this point?
5. Do you suggest any other scrips on which I can trade?
6. I would like to do swing trading in nifty but it seems to be very difficult. Also, bank nifty is easier than nifty in day trading. What are your thoughts on this?
7. Do these results sound achievable to you or you think its not possible to gain so much in real life?
8. To begin with, I wont be trading Bank nifty due to lot size problems. Please suggest 2 scrips form the table which you think are the best ones. Please also suggest any other scrips to test.
Eagerly waiting for your reply.
Regards,
ptk
Attachments
very good numbers ptk. Though these are paper trade numbers, high performance can be achieved if one trades a good method with decipline .My observations are as under :
1) Actual trading performance will be different than the model performance. But with decipline one can achieve 70-75 % of the model trades performance.It is a good idea to check the variance between model and actual performance at end of the day and try to reduce the gap. This will be useful for even regular traders.
2) The method will work on any scrip with good daily range and no erratic up/down moves... the choice of the scrip is personal choice.
3) The above data proves that a good method traded well is enough for making a good living through trading and one may not keep shifting to different methods in never ending search of finding an ideal method.
Well done, keep it up...and share your performance with everyone here.
Best Wishes,
Smart_trade
1) Actual trading performance will be different than the model performance. But with decipline one can achieve 70-75 % of the model trades performance.It is a good idea to check the variance between model and actual performance at end of the day and try to reduce the gap. This will be useful for even regular traders.
2) The method will work on any scrip with good daily range and no erratic up/down moves... the choice of the scrip is personal choice.
3) The above data proves that a good method traded well is enough for making a good living through trading and one may not keep shifting to different methods in never ending search of finding an ideal method.
Well done, keep it up...and share your performance with everyone here.
Best Wishes,
Smart_trade
Points to Re-stress :
It is a good idea to check the variance between model and actual performance at end of the day and try to reduce the gap. This will be useful for even regular traders.
A good method traded well is enough for making a good living through trading and one may not keep shifting to different methods in never ending search of finding an ideal method.
:thumb:
Best Wishes,
Smart_trade[/QUOTE]
It is a good idea to check the variance between model and actual performance at end of the day and try to reduce the gap. This will be useful for even regular traders.
A good method traded well is enough for making a good living through trading and one may not keep shifting to different methods in never ending search of finding an ideal method.
:thumb:
Best Wishes,
Smart_trade[/QUOTE]
Hello Smart Trade,
This analysis does give a very good insight. Thanks a lot for sharing it. I have recently joined the forum and was lucky to come across this thread so soon.
Can you please explain the reasons which make you get out of a trade without a stop loss being hit? Is it that if the market does not move in your direction of trade for sometime, you decide to get out in anticipation of SL being hit sooner or later? or is it because some specific price action you notice that makes the probability of SL being hit more that makes you get out as a scratch trade? Your reasons for this would be really helpful in understanding risk management.
Can you please also throw some more light on the above statement on your tight risk control? How do you manage to keep your losing trade below 10 points? Many a times I see that the stop loss for a trade in nifty is 20 points or even 23-25 points away. How do you manage to keep it below 10?
Hope I am not asking too many questions as a new joinee? Do reply at your convenience.
Thanks,
Ramesh
This analysis does give a very good insight. Thanks a lot for sharing it. I have recently joined the forum and was lucky to come across this thread so soon.
Can you please explain the reasons which make you get out of a trade without a stop loss being hit? Is it that if the market does not move in your direction of trade for sometime, you decide to get out in anticipation of SL being hit sooner or later? or is it because some specific price action you notice that makes the probability of SL being hit more that makes you get out as a scratch trade? Your reasons for this would be really helpful in understanding risk management.
Can you please also throw some more light on the above statement on your tight risk control? How do you manage to keep your losing trade below 10 points? Many a times I see that the stop loss for a trade in nifty is 20 points or even 23-25 points away. How do you manage to keep it below 10?
Hope I am not asking too many questions as a new joinee? Do reply at your convenience.
Thanks,
Ramesh
Originally Posted by Smart_trade View Post
But as I have extremely tight risk control, my loosing day will never be more than 12-15 points at worst. Normally it is below 10 points.
Can you please also throw some more light on the above statement on your tight risk control? How do you manage to keep your losing trade below 10 points? Many a times I see that the stop loss for a trade in nifty is 20 points or even 23-25 points away. How do you manage to keep it below 10?
Hope I am not asking too many questions as a new joinee? Do reply at your convenience.
Thanks,
Ramesh[/QUOTE]
Dear ST da,
Please give some hints on this point If am correct you are trading in 5 min tf ..so how can you manage your worsttrades are below 10-12 points.....please give some hints and thoughts which are always a GOLDEN LINE for us
But as I have extremely tight risk control, my loosing day will never be more than 12-15 points at worst. Normally it is below 10 points.
Can you please also throw some more light on the above statement on your tight risk control? How do you manage to keep your losing trade below 10 points? Many a times I see that the stop loss for a trade in nifty is 20 points or even 23-25 points away. How do you manage to keep it below 10?
Hope I am not asking too many questions as a new joinee? Do reply at your convenience.
Thanks,
Ramesh[/QUOTE]
Dear ST da,
Please give some hints on this point
If am correct you are trading in 5 min tf ..so how can you manage your worsttrades are below 10-12 points.....please give some hints and thoughts which are always a GOLDEN LINE for us Similar threads
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