Hi all
I am starting this thread to discuss a new method to trade nifty daily with gain of atleast 10 points whether market is sidewise or trending.
If market is sidewise then we Trgt n SL of 10 points but if its trending then we trgt of 20-30 points & SL of 16-20 points.
I started trading nifty around 40-45 days back but dont worry i am not a Novice, rather i paper traded for around 3 years to establish strategy that works almost all type of markets.
To start with i made some changes in pivot levels and called New levels as sentimental Levels
As these levels in day trading attract attention of maximum traders. Difference is that Fabonacci levels, pivot levels, camarilla levels are just retracement or extension levels of prev. day and Gann level is just a hypothetical level at any time during day.
Like today the sentimental level (or simply nifty level) for me is 4806-4810, 3 times nifty crossed this level today.
first time i bought @ 4810 got out @ 4800 as trend was not clear(9.25am)
then i bought arond 4798 thinking that it may retrace its level so booked around 4810
then again it touched 4803 with clear uptrend so bought @ 4808 and got out @ 4830
In the morning only sentimental trgt for me is 4840 and nifty hold its high of 4839-4841 for 2 hours
I am not boasting any get rich strategy or Holy Grail, please mind it NO strategy is 100% accurate else i must have ruled the market with trading 1000 lots daily
But what happens is,in good days i earn 20-30 points, in bad days i earn no profit no loss and in very bad days i had loss of 15 points so in past 40 days i earned 12800 on 1 lot nifty after deducting brokerage at rs.10 per lot n govt. taxes
So first watch my trades for 2 weeks then i will explain how to calculate sentimental levels and then simply how to check market trend.
Strategy is simple whenever market crosses sentimental level then check trend if up then buy if down then sell.
Suggestions n corrections are most Welcomed as 100 brains are more better than single brain.
You can check my past posts on same strategy in other thread.
In last i dont trade daily as i have 1 small baby who is more important to me then trading so some days may go off without posting but dont worry it took me 3 years to reach here but it will take only a month for you all to understand after that i will close this thread and you can trade at your own.
Regards
