Day Trading Stocks & Futures

[Shiv12345]

Nothing much. Somewhere around 15th May, when there was too much speculation going on post Karnataka Election Results Day, I really got irritated with misbehaving Nifty & Banknifty options. Higher premiums were just not serving any purpose. Due to over-inflated premiums, options were not moving as per market movement. Hence, I got fed up with options. I started surfing and reading a lot about FUTURES over internet.

The only thing that was bothering me was the fact that FUTURES have unlimited liability. But after I read stuff over internet, it looked to me as if Futures are not that much damaging. Safe trades can be found even in FUTURES too.

So I started taking small trades in futures one by one (with Stop Loss and small Targets) . But yes, taxes are way higher. But then I soon realised that Intraday (MIS) Equity trades demand even higher taxes. Now I am OK with futures.

Ok good for you... so after studying futures, what do you see in current Nifty/Banknifty chart ?
even now I'm seeing you trading options

Sure. Here it is:

Banknifty should ideally attempt to surpass 27100 once. It has been quite a few times now that Banknifty retraced heavily from 27000 to 27150 levels approx. It is somehow stuck between 26000 to 27000. It's rather creating a kind of zig zag pattern over charts.

Anyway, moving forward, bulls have two major STOP LOSS before their sky high hopes are dashed i.e. 1st Stoploss at 26224 (Tuesday's low) and if that is breached then final stop loss should be 25950 to 26000. Below 25950, it will be like "de dann danaa dann". Above these levels, we are bound to see 27100 once. But things are not looking too good. US & China trade war worries keeping global markets at bay. But then again, complete arrival of Monsoon throughout India can trigger positivity in our markets at least for 10 days. I still remember how monsoon arrival news drove our markets crazy during Mid 2016. I can tell you for my home city. New Delhi is expected to have monsoon by 29th June.

Since this is expiry week, I am expecting some action (not just normal action but rather abnormal action since we have not moved much since last expiry).

 

[rjshem]

50 % puts booked @ 62
rest 50% @ 120...
It was a fantastic day for me..Earned highest ever intraday profit today !.

Bajajfinance futures shorted @ 2264.70 s/l @ 2290 carried forward.
no other positions

This is how good tradings done .keep repeating it .

 

[sanju005ind]

Sure. Here it is:

Banknifty should ideally attempt to surpass 27100 once. It has been quite a few times now that Banknifty retraced heavily from 27000 to 27150 levels approx. It is somehow stuck between 26000 to 27000. It's rather creating a kind of zig zag pattern over charts.

Anyway, moving forward, bulls have two major STOP LOSS before their sky high hopes are dashed i.e. 1st Stoploss at 26224 (Tuesday's low) and if that is breached then final stop loss should be 25950 to 26000. Below 25950, it will be like "de dann danaa dann". Above these levels, we are bound to see 27100 once. But things are not looking too good. US & China trade war worries keeping global markets at bay. But then again, complete arrival of Monsoon throughout India can trigger positivity in our markets at least for 10 days. I still remember how monsoon arrival news drove our markets crazy during Mid 2016. I can tell you for my home city. New Delhi is expected to have monsoon by 29th June.

Since this is expiry week, I am expecting some action (not just normal action but rather abnormal action since we have not moved much since last expiry).

The week after expiry week earnings season starts.

 

[rjshem]

When not trading I am reading. I was reading all the four books written by Jack Schwager.These books contain interview of top traders from each decade.A total of 80 traders were interviewed. There are two things that runs common from all these traders.
1. Risk management
2. Never give up.

Good books to have insights of different types/styles of trading and valuable lessons.

1.Stock Market Wizards
2.Market Wizards
3.New Market Wizards
4.Hedge Fund Market Wizards.

Can add a few more 'reminiscense of s stock operator' by edwin lefebvre it shows the journey of jesse livermore a legend in trading world .'the complete turtle trader' by michael covel story of the turtle trader experiment where richard denise picks random people teaches them to trade with his own rule based system and money'.'pitbull ' again journey of one of best option trader marty schwartz.all these r great to read and not boring and have lot of valuable lessons .

 

[sanju005ind]

Can add a few more 'reminiscense of s stock operator' by edwin lefebvre it shows the journey of jesse livermore a legend in trading world .'the complete turtle trader' by michael covel story of the turtle trader experiment where richard denise picks random people teaches them to trade with his own rule based system and money'.'pitbull ' again journey of one of best option trader marty schwartz.all these r great to read and not boring and have lot of valuable lessons .

Yes those are great books.My collection for now apart from kindle.

 

[afin]

Holy cow! Thats a lot of books! It is like my master thesis literature review! Really impressive collection I must say - in terms of breadth as well as the depth! This is one heck of a comprehensive database!

 

[afin]

This ad was my inspiration to not trust spurious data - aka one off cases. Ever since then I mostly stopped trading long term

 

[jonty47]

Hi everyone
Have been following this thread for about a year but this is my first post.
Have learnt a lot from all your insightful posts and hoping for more knowledge ,profits and happiness(general and trading) going forward.

 

[Shiv12345]

Hi everyone
Have been following this thread for about a year but this is my first post.
Have learnt a lot from all your insightful posts and hoping for more knowledge ,profits and happiness(general and trading) going forward.

Yes sir. I know you have gained a lot of knowledge from me.

 

[Raj232]

Dow Jones 24,461.70 −196.10 (-0.80%)
Expecting a blood bath on Friday on NSE