need suggestion on day trading

V

vabhujain

New Member
#1
#1
hi everybody

i just put my first step in stock market

and this point i want to start as trader

so plz guyz tell me any book on day trading

what u ppl think about this book


Trading For A Living by Alexander Elder


thanks in advance
 
Last edited:
S

swdas

New Member
#7
#7
Re: need suggesion on day trading

I do day trading and love day trading. Mostly I go with NF. Sometime RIL SBI ICICI etc.

Day trading is a most difficult art and needs lot of control over emotion and reflex in entry and exiting.

Some of the points about day trading.

1. Need to understand entry and exit points. Most of the time market trades in bad entry points or exit points. Market goes to good entry points or exit points for a few mins and on some day for a few secs. Which means you should patient to wait for those points, but your reflex should high when point reaches for making entry or exit.

2. Deciding a trade, for this you can use many methods available like fibo, bar reversals, or cams method. you can develop your method as well.

3. I use one go entry. Means I take entry once. But use partial exits. Like in NF, I exit 50%-75% when I get 20-30 points. Rest I wait for my targets.

4. I always use 20-30 points SL, in special situation i go for 50 points SL.

5. I always try to have 1.5 times target compare to my SL.

6. Need to show some guts while making entry and exit. Sometime, we need to show guts in reversing trade before SL hitting.

7. We have to try cover our losses on the say day.

8. i vary position size based on SL. 20-30 points NF SL i use full position size. when 50 points SL i use 50% position size.

hope this helps!
 
S

swdas

New Member
#8
#8
Re: need suggesion on day trading

I have read two books, both are good.

1. How to make money trading derivatives by Ashiwini Gujral
2. Come into my trading room by Dr Alexandar Elder

I personally use fibo method for day trading. It works well. I Do not use Real time chart for day trading. mostly trade as per daily support and weekly support.
 
B

biyasc

Well-Known Member
#10
#10
Re: need suggesion on day trading

swdas said:
I do day trading and love day trading. Mostly I go with NF. Sometime RIL SBI ICICI etc.

Day trading is a most difficult art and needs lot of control over emotion and reflex in entry and exiting.

Some of the points about day trading.

1. Need to understand entry and exit points. Most of the time market trades in bad entry points or exit points. Market goes to good entry points or exit points for a few mins and on some day for a few secs. Which means you should patient to wait for those points, but your reflex should high when point reaches for making entry or exit.

2. Deciding a trade, for this you can use many methods available like fibo, bar reversals, or cams method. you can develop your method as well.

3. I use one go entry. Means I take entry once. But use partial exits. Like in NF, I exit 50%-75% when I get 20-30 points. Rest I wait for my targets.

4. I always use 20-30 points SL, in special situation i go for 50 points SL.

5. I always try to have 1.5 times target compare to my SL.

6. Need to show some guts while making entry and exit. Sometime, we need to show guts in reversing trade before SL hitting.

7. We have to try cover our losses on the say day.

8. i vary position size based on SL. 20-30 points NF SL i use full position size. when 50 points SL i use 50% position size.

hope this helps!
Click to expand...
for me, this is the most easiest job than anything else i can do for my living. am i lazy?

your post was good. keep it up.
 
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