NooBs Trading Step into Wild Market

[frisky]

Stock Selection Analysis - 3-Apr-17

No Stock was qualified for 5-Apr-17, hence no trade day.

 

[vivektrader]

ACC - Had the gap up and didn't break the high of the 1st minute itself. So no trade

GODREJCP - It had a decent intraday move.

MARUTI - I took the trade personally during first 5 min and locked the profit when the gap was filled and started moving up. I knew after 15 min it still didn't break the high, hence closed with whatever profit that market gave me.

Which side did you trade maruti,long or short, gap was filled in first minute, or you were carrying Friday's position?
Thanks

Vivek

 

[frisky]

Which side did you trade maruti,long or short, gap was filled in first minute, or you were carrying Friday's position?
Thanks

Vivek

Hi,

I bought the futures after the Gap Fill.

Trade chart is as follows

I took the trade after the gap fill, but the momentum even after 10 minutes was not having enough bull momentum , as my expectation was to break the high of the 1st minute candle and ride up, it didn't occur even having a catalyst of positive news, so I just closed with that DOJI on 1 min. If at all it broke the high, I might have stayed onto the trade and would have let it trail.

 

[vivektrader]

Bhai, no new updates from you, your posts are very useful, please keep them coming.

Vivek

 

[frisky]

Stock Selection 11-Apr-17

Sorry for not updating. Got lazy actually , thought none participates, hence stopped.

IGL - After a pullback , it started moving up with fair amount of volume and a long green bar, suggesting possibility for an upmove further. A break above HIGH is BUY.

NTPC - Power sector had a huge fluctuation today, this needs to be taken carefully with heavy volume surge at top, still a break above HIGH, trail SL tightly with Supertrend and move on.

RPOWER - It is the same case for this as well with respect to power sector. so trade carefully , a break above HIGH, is BUY

 

[vivektrader]

Stock Selection 11-Apr-17

Sorry for not updating. Got lazy actually , thought none participates, hence stopped.

IGL - After a pullback , it started moving up with fair amount of volume and a long green bar, suggesting possibility for an upmove further. A break above HIGH is BUY.

NTPC - Power sector had a huge fluctuation today, this needs to be taken carefully with heavy volume surge at top, still a break above HIGH, trail SL tightly with Supertrend and move on.

RPOWER - It is the same case for this as well with respect to power sector. so trade carefully , a break above HIGH, is BUY

Frisky Bhai, do you use any stock screener also?

Vivek

 

[frisky]

Frisky Bhai, do you use any stock screener also?

Vivek

Na, just going through all 180 odd stocks in F&O.. and look for major volume with respect to candle with respect to S/R with respect to trend. Yea, it may seem like tough job, but since I got used to this, I just browse through all 180 stocks in like 15 mins on Amibroker starting ABRILANUVO Down arrow , CLICK CLICK CLICK and I arrive at judgement. Somehow one or two stocks are filtered.

Rules

1) Look the major trend UP, DOWN or RANGE
2) S/R positions - start the work by drawing the recent S/R on amibroker and save once, it will be enough to browse through and update whenever new forms.
3) While on trend - look for pullback trades
3.a) Pullback can be identified with candle patterns
3.b) Pullback can be price reaching previous S/R
3.c) Pullback can be high stopping volume
3.d) OPTIONAL - If u are a Bollinger band user, use (20,2.5) and on uptrend look for price breaching lower band, if in downtrend- look for price breaching upper band
4) While on ranging , look for candles & volumes on extreme ends along the S/R

5) Look into volume with respect to previous days, if u notice spikes, there is some activity
6) Look into candle patterns.

Now it may seem a lot, but if it happens to be a routine, its that simple. I can add more values if u need me to , one section at a time with pictures I can.

 

[vivektrader]

Na, just going through all 180 odd stocks in F&O.. and look for major volume with respect to candle with respect to S/R with respect to trend. Yea, it may seem like tough job, but since I got used to this, I just browse through all 180 stocks in like 15 mins on Amibroker starting ABRILANUVO Down arrow , CLICK CLICK CLICK and I arrive at judgement. Somehow one or two stocks are filtered.

Rules

1) Look the major trend UP, DOWN or RANGE
2) S/R positions - start the work by drawing the recent S/R on amibroker and save once, it will be enough to browse through and update whenever new forms.
3) While on trend - look for pullback trades
3.a) Pullback can be identified with candle patterns
3.b) Pullback can be price reaching previous S/R
3.c) Pullback can be high stopping volume
3.d) OPTIONAL - If u are a Bollinger band user, use (20,2.5) and on uptrend look for price breaching lower band, if in downtrend- look for price breaching upper band
4) While on ranging , look for candles & volumes on extreme ends along the S/R

5) Look into volume with respect to previous days, if u notice spikes, there is some activity
6) Look into candle patterns.

Now it may seem a lot, but if it happens to be a routine, its that simple. I can add more values if u need me to , one section at a time with pictures I can.

Thanks for the detailed answer buddy, your profile name doesn't match your method, you appear to be a seasoned trader with a clear thought process.
About lack of participation by others, me too running my DeMark thread without many participants, although I started it with a premise that 8-10 fellows will contribute. Anyways, I feel running a thread is a great way of sharpening one's skills in planning and executing one's method.
I subscribed to your thread some time back, will continue to visit and learn.
Thanks
Happy trading.

Vivek

 

[frisky]

Stock Selection 11-Apr-17

Sorry for not updating. Got lazy actually , thought none participates, hence stopped.

IGL - After a pullback , it started moving up with fair amount of volume and a long green bar, suggesting possibility for an upmove further. A break above HIGH is BUY.

NTPC - Power sector had a huge fluctuation today, this needs to be taken carefully with heavy volume surge at top, still a break above HIGH, trail SL tightly with Supertrend and move on.


RPOWER - It is the same case for this as well with respect to power sector. so trade carefully , a break above HIGH, is BUY

Update

IGL - it opened a gap up meaning high was broken and started to fade down, thats the best entry with trailing SL. Good move

NTPC - it did break the high for a minute or so, but had no strength to continue further up, hence no trade.

RPOWER - It didn't break the high and closed way below, so no trade.

 

[frisky]

Stock Selection Analysis - 12-Apr-17

EQUITAS - The new entry fella just started giving some future segment entry now. Look into the chart, it is noticable that there is formation of Shoulder , Head and a probable upcoming shoulder pattern. It is pulling back to the Support zone. Having heavy volume along the down move and good volume with current candle being a hammer. So most likely it can shoot up. A break above HIGH, is a possible BUY.

MCDOWELL-N - after the bad news, it has started to get a buy back at low level for institutions, 3 days , very heavy volume and today's candle has closed with a good green candle at a support zone. This can be added to watchlist for BUY list if HIGH is broken.