"The market gives experience to people with money and money to people with experience"
Well, we love trading....we love all the indicators and strategies.....we admire all the different charting softwares...and we love to hate all brokers
, yet we all make mistakes and we takes losses....and refuse to give up our quest for "The Holy Grail" of trading success. Aahh.....one small thing that no book can teach or software can provide....is a trading psychology.
I cant provide it either....but I may be able to throw some light with what I call "5-Point Someone" strategy, but before all that....remember an old Dalal Street saying - "Market is like a beautiful, intelligent lady, who is very choosy about whom she wanna go out with"...
So why do we fail? Are we afraid of our trades?....are we not confident that the position we have taken is correct?....are we greedy?....
So what is 5-Points Someone?
5-Points Someone is not an advanced trading strategy. It is just using whatever strategy you have to trade for 5 points movement on NIFTY:clap:....
The Strategy:
I use EMA crossovers bundled with stochs and RSI....and take positions my first target being "5 points". If the crossover is a big one....then one can wait for few more points depending on personal target. SL should be 5 points lower than where you entered.
Advantage:
1) Once you see your profits at 5 points, you would feel confident that you have met your target.
2) Gives a good enough control on greed and provides decent risk appetite.
3) Gives one a confidence as 5 Nifty point is just nothing....once someone does this frequently, it becomes like a regular income when one looks at the return after 10-12 days of trading.
Disadvantage:
1) Requires atleast 10 NIFTY lots and would require 3-5 trades day to earn decent profits. Its tedious.
2) Brokerage can kill you if you do not have a dirt cheap brokerage.
This is a no brainer or any advanced technique. This is a simple approach with decent return and less heart-burn.
Please remember, do not do this if you dont have any clue of technical analysis. This is a pure intra-day approach.
5-points.....someone??
Feedback and comments are most welcome.
Well, we love trading....we love all the indicators and strategies.....we admire all the different charting softwares...and we love to hate all brokers
, yet we all make mistakes and we takes losses....and refuse to give up our quest for "The Holy Grail" of trading success. Aahh.....one small thing that no book can teach or software can provide....is a trading psychology.I cant provide it either....but I may be able to throw some light with what I call "5-Point Someone" strategy, but before all that....remember an old Dalal Street saying - "Market is like a beautiful, intelligent lady, who is very choosy about whom she wanna go out with"
...So why do we fail? Are we afraid of our trades?....are we not confident that the position we have taken is correct?....are we greedy?....
So what is 5-Points Someone?
5-Points Someone is not an advanced trading strategy. It is just using whatever strategy you have to trade for 5 points movement on NIFTY:clap:....
The Strategy:
I use EMA crossovers bundled with stochs and RSI....and take positions my first target being "5 points". If the crossover is a big one....then one can wait for few more points depending on personal target. SL should be 5 points lower than where you entered.
Advantage:
1) Once you see your profits at 5 points, you would feel confident that you have met your target.
2) Gives a good enough control on greed and provides decent risk appetite.
3) Gives one a confidence as 5 Nifty point is just nothing....once someone does this frequently, it becomes like a regular income when one looks at the return after 10-12 days of trading.
Disadvantage:
1) Requires atleast 10 NIFTY lots and would require 3-5 trades day to earn decent profits. Its tedious.
2) Brokerage can kill you if you do not have a dirt cheap brokerage.
This is a no brainer or any advanced technique. This is a simple approach with decent return and less heart-burn.
Please remember, do not do this if you dont have any clue of technical analysis. This is a pure intra-day approach.
5-points.....someone??
Feedback and comments are most welcome.