Scalping My Way

N

NoviceStockTrader

Well-Known Member
#52
#52
Dom Perignon said:
I expect you are all trading quite early here but nearly 12 o'clock there

I see your market is green..

give me few stocks (max 3 and small cap) to follow
IDEA?
I follow this site
https://www.nseindia.com/live_market/dynaContent/live_watch/equities_stock_watch.htm
Click to expand...
hi Dom,

Yes thats a good list for you to paper trade. They are all index stocks so not many small ones.

Click on the "Nifty 50" menu and you can choose midcap 50 from the list.

Good luck paper trading Indian markets.:)
 
Dom Perignon

Dom Perignon

Active Member
#54
#54
The first 5 minutes for info (I trade that but IMO stay away)

Now that the market has opened. the first noticeable increment of time is the first five minutes. I have no study to back this one up, but from my own experience and talking with other day traders the 5-minute chart is by far the most popular time frame.
Within the first 5-minutes you will see a number of spikes in both price and volume as stocks gap up or down from the previous days close. This will often be driven by some sort of earnings announcement or pre-market news.

This first five minutes is arguably the most volatile time of day. There is no high or low range for the day and odds are the previous days range has been eclipsed by the gap.

With no clear boundaries for where to go, to short or buy after the first 5 minutes in my opinion is nothing more than a gambler's paradise. If you are serious about your trading career stay away from placing any trades during the first 5 minutes.
Click to expand...
 
Dom Perignon

Dom Perignon

Active Member
#55
#55
Last edited:
Dom Perignon

Dom Perignon

Active Member
#56
#56
VJAY look I found an old note since when I started looking for a new style (strategy) because with my complicated tools I didn't use to have much success

Avoid Complicated Trading Systems!
And here's why:
Many "gurus" want you to believe that "complicated is better".
They tell you that you need to study trading for many months, buy their proprietary trading indicators, software and courses and that you should expect to lose money in the first few months of trading anyhow!
I used to believe these "gurus" and have been there and done that.
I bought all these complicated systems that took me weeks to understand, installed all these indicators and software programs on my computer and wasted countless hours reading books, watching videos and even attending "live workshops."

Here's The Really Good News:
After years of trial and error (and lots of losses), I have found that all you need toget reliable trading signals with a "positive risk-to-reward ratio" are three (3) indicators.
And these indicators are available to everybody for free!
Here they are:
• Moving Average Convergence / Divergence (MACD)
The MACD gives you an "early warning signal" so that you know whether the market is more likely to go up or down.
• Bollinger Bands
When used in the right way and with the right settings, Bollinger Bands shows you EXACTLY when you enter and when to exit a trade.
• Relative Strength Index (RSI)
The RSI measures the STRENGTH of a trend and acts as a filter to remove "false" breakouts in the markets.
I have combined these three indicators into my Simple Strategy.
Introducing "The Simple Strategy"
The Simple Strategy is my favorite day trading strategy for the following reasons:

• Clear Entry Rules
When trading “The Simple Strategy”, there’s no second-guessing. As you will see, the entry rules are based on indicators - and it’s black and white. Either the MACD is above the zero line or it isn’t. And either the RSI is above 70 or it isn’t. The entries are easy to identify and to execute. That’s why this strategy is called “The Simple Strategy”

• Clear Exit Rules
When trading “The Simple Strategy” you’ll know when to exit even before you enter the trade. So, you know exactly how much you risk on any given trade which is essential for precision position sizing and money management. Plus, you can put the trade on auto-pilot once you are filled on your entry order. This reduces the trade management to a minimum. And Many traders fail because they over-manage their trades. Using the exit rules of “The Simple Strategy” you won’t run into the risk of over-managing your trades. It’s like the “Showtime Rotisserie” - You set it, and forget it
• Take advantage of small intraday trends
Trends are short-lived. The times when you could enter the market in the morning and exit the market in the afternoon are over. These days the markets can turn around on a dime. Low trading commissions and computerized trading have destroyed the nice and long intraday trends. However, with “The Simple Strategy” you can take advantage of the small intraday trends that we are seeing in today’s markets since we are only trying to capture 15% of the average daily range. More about this later.
• You don’t need a sophisticated trading software
As you will see, you only need a charting software with “basic” charting capabilities: Your charting software needs to be able to plot RANGE BARS, BOLLINGER BANDS, MACD and RSI. More than 90% of the charting software packages that are available today have these capabilities. There’s no need to buy any proprietary indicators or expensive charting software!
• Easy To Learn And Understand
"The Simple Strategy" has its name for a reason: You can learn it in less than 60 minutes and trade it right away. This makes it the perfect trading strategy for beginners!
In short: “The Simple Strategy” can greatly simplify your trading.
Click to expand...
of course all depend what each trade (scalp-dayT-swing etc..)
and IMO very important it is what it is better for each one of us..... we all have different mind set and so on

in those newbie years what I found best was follow good serious traders, take notes, even few words- lines and eventually tasting one by one I could see the winners started to come in and losers slowly decreased ....
then gradually a winning strategy arrived but experiences to know the tricks of teh market it help ...
markets+stocks are much manipulated so we have to learn that ..

hope it help ....

please if you all think I post this unnecessary news-info tell me so I stop I don't lose my time and your... thanks
 
Dom Perignon

Dom Perignon

Active Member
#57
#57
here is my list for today ... last night didn't see the close so I have to take them from my/ lists
TXMD HTBX DRYS ENPH
reserve; ARRY FNMA SAEX CLF

TXMD news out .. I slready traded in pre market 7.77 - 8.03 +26 already in the pocket :D nice so it help the morale in case I lose some
quite few of the above already green in pre but CLF red :(
 
Dom Perignon

Dom Perignon

Active Member
#60
#60
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