day trading formula

Discussion in 'Technical Analysis' started by amanmm, Aug 12, 2009.

  1. amanmm

    amanmm New Member

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    please suggest me any sure shot strategy in day trading .or what strategy you use most.
     
  2. Knil

    Knil Member

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    There couldn't be any sureshot formula for day trading as you can't be sure about human behavior. The same person reacts differently to the same situation at other time. However, for day trade, you can guess how the stock market will behave to a given situation and accordingly you have to trade.
    My strategy for day trade is -- Going with the market news during night & in the morning I decide to trade in two or three stocks [either to go long or short for trade]. I go for 25% of the available fund at the begining. If the trade turns out to be profitable, then with a decided target, I book the profit at the earliest. If not, then I average it TWICE with 25% of the balance fund. If still the situation worsons, then I start booking possible minimum loss in remaing period.
     
  3. Class

    Class Active Member

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    HI Knil,
    Your strategy seems to be opposite of general opinion. i.e. to cut your losses short and let your profits run.

    If I understood, you seem to be saying that you take your profit off the table at the earliest and ADD to loss to cost average, and then stop out at a loss. The %age loss may be less, but surely the overall real money cost will be more.

    All the best.
     
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  4. jinnav

    jinnav Member

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    Here is sure shot strategy....... Buy at lower price and sell at Higher price;) Well my friend if any one would have known any sure shot strategy, then first of all, he never would have read your post. Because he'll be busy, enjoying his holidays at the Alps. So try to find strategy which works most of the time. There are many in this forum. Just pick one suitable to your style.
     
  5. amanmm

    amanmm New Member

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    From where you get the news.. please help.
     
  6. Knil

    Knil Member

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    By watching TV business news channels particularly CNBC TV18 & AWAZ. I pick up 2 or 3 stocks for intra-day trading. My sucess rate is 75 % in choosing stocks for going Long Or Short. {to-day I went SHORT on Suzlon & FSL and earned over Rs.1000/- on a capital of Rs.25000} As I am a full time trader I keep TV as well as internet connection on during 9.55 a.m. till 3.30 p.m. so that I can immediately change course of my trade accordingly. My experience is that a continuous sharp fall in NIFTY for 2 -3 minutes gave me good profits in my intraday trade. I don't play F&O. Till the time my strategy is giving me some profit and not substantial losses I feel I should continue with this strategy. what you say?
     
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  7. amanmm

    amanmm New Member

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    Thanks, very practical strategy. I will try .
     
  8. rajeshn2007

    rajeshn2007 Well-Known Member

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    I wonder whether people can make money by watching " cnbc/awaaz" !
     
  9. raj001

    raj001 Active Member

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    What he wants to say is that he keeps check of the market trend through TV and trades according to the maeket trend.. I also follow the same formula and d success rate is near about 75%....
     
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