Thoughts on Day/Swing Trading

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http://www.traderji.com/general-tra...ng-since-2005-lost-13-3-lakhs.html#post475782

http://www.traderji.com/general-tra...ng-since-2005-lost-13-3-lakhs.html#post475791

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[Ytterby]

"For many years I have tried to make money on short-term trading. Now I understand that its impossible to defeat the Robot. That mean, what I think, you cant use technical analysis either. Now I look for some sentiment indicator instead. Is it someone who have any sources?

I do scapling in Nifty Options and I would like to share a few points as under :

1) I need approx 3 points in Nifty options to take cate of exchange charges,low brokerage and STT and also a few wrong trades which always happen irrespective of what we do. So if I am scalping At The Money options ,it means the nifty should give me a move of 6-7 points in direction of my trade that too very quickly.

2) I select my place for scalping .....such as when a hourly bar's bottom gets broken, or a important pivot gets taken out,break of a trend line,failure of breakouts/breakdowns....these are places where the counter gets into high activity mode,the moves are strong and fast. I can achive my targert move in less than a minuts in the trade. Sometimes I got even 6-8 points in such scalps agaist 3 to 3.5 points which I am looking for.....Though this is not scalping strictly....it is actually trading breakouts for small price move.....but whatever it is called ,these quick scalps suit my mental set up.

3) Sometimes bid/ask spread gets wide....in this case try to buy at lower side of the spread and sell at higher side.....this is to be tried in stable markets...not in trend moves because mkts are likely to jump in trend moves....

I am not a regular scalper...but thought of sharing few points here...

Smart_trade

 

[trade4joisar]

T4J,

Key to yesterday....Marked it on the chart..... I am sure ST will be able to dissect it in detail....besides the hammer he alluded to....!!!

SG

Hello SG/ST,

Can you please share your thoughts last year chart?

I have also included 21 EMA (ST's favourite )

SG,
Can you share your thoughts on candles marked by you.

 

[balasoft80]

Hi ST,
Just I am posting today 5/30/60 minute charts as like yesterday to understand price action. Please give your comments when your time permits.

Please let me know if these posts distracts this thread. So we can move/delete it. Thanks

5Minute:

30Minute:

60Minute:

 

[Smart_trade]

"For many years I have tried to make money on short-term trading. Now I understand that its impossible to defeat the Robot. That mean, what I think, you cant use technical analysis either. Now I look for some sentiment indicator instead. Is it someone who have any sources?

You have not learnt how to trade in short term. If by short term you mean 3-7 days trade holding period, there are many methods which make money month after month , every month. If you are having daytrading in mind, you dont have to compete with Robots. They trade a 2-3 points move and trade with large quantity and high frequency. You find out your edge over the Robots.....and trade 10-15 or 20 points moves in daytrades. But having said all this, there is no guarantee that one can become a profitable trader.

But since you have made up your mind , no arguments. Sentiment indicators trade contrarian trades which may require loose stops. Not sure whether they will work great with tight stops which short term trading needs. VWAP strategy posted here works on sentiments of market participants but in direction and not in contra mode.

Smart_trade

 

[Smart_trade]

Bala,

Our charts differ may be because of data difference. In my chart there is no sell signal on oscillators considering all qualifiers ( on divergence there was a sell...but that was indicated even on price action. )

1) Around 10:00 Oscillator went in OB area but stayed there for 6 bars...so no sell , but I an looking to buy after a correction and over a pivot high and that I got over 10:40 high.....so buy there and it was a small but profitable trade.

2) Around 11:15 or thereabouts oscillator went into the over bought area again....but no sell there because the qualifiers were not satisfied.

3) After 1:05 there was a sell trade on many critaria such as pivot breakouts failure,TDST failure,30/60 min TDST,Oscillator divergence, larger timeframe reversal....so short below 12:20 low or 1:25 low and this trade was a big winner.

Smart_trade

 

[balasoft80]

Thanks Much ST. Could you please post your 5 minute chart with TDST failure? Thanks

 

[techtrader2]

If by short term you mean 3-7 days trade holding period, there are many methods which make money month after month , every month.
[/QUOTE]

ST there are many of us who would be interested in a simple easy to follow method for short term trading of 3-7 days type which would make us money in most months. 200 points in NF is enough to make a living. It would be preferable if the method is mechanical and easy to follow by one and all. Could you give us a new year gift?

 

[sunbim31]

:clapping:

 

[techtrader2]

VWAP might play out today....