General Trading Chat

[Smart_trade]

If you observe these days carefully. We are moving from 4421 to 5500 or about 25 % of indexes value. We were quoting at 4400 then. We closed at 4900 on 22 Jan and next day open was 5100. The previous day on 21 jan close at 5218 the next day open was 4900. There have been multiple 2-5 % gap ups and and gap downs

In this scenario holding positions overnight would be very risky as you said in your previous post. If one stops swing and does pure intraday what should be trade plan. There are many green days which close at the highs one cant sell on rallys everyday. It has been very volatile you must have traded these months and everyday was like the ILFS day. Nifty been moving 100 points up and down every 20 mins if you check the 15 min chart.

Daytrading and swing trading are two different modes of trading... while daytrading one has to go with the trend of the day so if the market is moving up then you should trade from long side...and if it is going down, trade from short side....this is why we see minor and visual trends and trade on small time frames of 3 or 5 min ....

The problem with most traders is that they have one system and they go on bliendly taking trades on that system without giving any consideration of what kind of trend the market is in and expecting that the method makes money in all kind of markets....that will never happen. As you said there are many green days where they closed at the top of the range ,but here I never suggested selling every rally in daytrades, my answer was wait for the rallies when the trend is down in swing trades and near the precious rally top you take a short trade.....not shorting every rally every day ...on those days you should be trading long in your daytrading....dont mix swing trading and daytrading and apply what I say for swing trading to daytrading and vice versa.

Smart_trade

 

[cinderblock]

https://timesofindia.indiatimes.com...400-deal-with-russia/articleshow/66157531.cms

Old news but hope this is just only talk

Any progress? On this or Iranian oil?

 

[kingsmasher1]

Sharekhan chart frozen...anyone else facing this issue?

 

[kingsmasher1]

Sharekhan chart frozen...anyone else facing this issue?

Seems working now..

 

[timepass]

Sharekhan chart frozen...anyone else facing this issue?

Never froze today.

 

[lemondew]

We had a discussion on swing trading not desirable during events. So would check intraday. Now my stops and timefarame were always fixed irrespective of volatility.

Plan to keep the stops fixed and change timeframe based on average size of bar. If at 15 min timeframe lets say average size of bar is my stop size. I will trade 15 min but would stop trading if we have higher size of 15 min bar than stop size

Would consider 15 min close as day close and see how it works. So would have to see how it fares in 2008 and also recheck the last 4 years how it would work with the existing rules.

Thanks for now. Hoping am not going in wrong tracks

Though I dont claim that I have solutions for all trading problems but in this chart the trend is down so my strategy will be wait for the rally and short when the market goes near the previous rally top with a stop loss of the previous rally top as the trend is down but it is giving overlapping candles so trading a breakdown is not a right strategy but selling a rally with stop of previous rally is a correct strategy......

One method will never work in all types of market environments...strong trend, weak trend, overlapping trend, sideways etc but the principles that in a downtrend, we look for a rally to come to an end and then take a short trade.....we have to find these modifications ourselves because necessity is the mother of inventions....

Smart_trade

 

[vivektrader]

TD point reversal in nifty futures 5min chart.

Vivek

 

[Smart_trade]

TD point reversal in nifty futures 5min chart.

Vivek

It worked as it gave a buy around 10280 and market traded up from that level.

ST

 

[sanju005ind]

We had a discussion on swing trading not desirable during events. So would check intraday. Now my stops and timefarame were always fixed irrespective of volatility.

Plan to keep the stops fixed and change timeframe based on average size of bar. If at 15 min timeframe lets say average size of bar is my stop size. I will trade 15 min but would stop trading if we have higher size of 15 min bar than stop size

Would consider 15 min close as day close and see how it works. So would have to see how it fares in 2008 and also recheck the last 4 years how it would work with the existing rules.

Thanks for now. Hoping am not going in wrong tracks

I am a total newbie on the market but when do we started using words fixed in the market. do you think market cares about your risk, your pain limit, or your SL.

 

[vikas2131]

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