A simple strategy for intra-day trading
Friends here I am going to share my own method for day trading to refine and fine tune myself. May be someone find it help full.You all know that there is no system, method to forecast accurately intraday movement of stocks. So what can we do to make odd favorable (1) minimizing no of losing trade (2)minimizing losses in each losing trade (3) It is not enough just to increase the no of wining trade but it is more important to increase the quality of wining trade. As you know a single bad trade can wipe out your profit of 10 wining trade oppositely it is necessary to develop systematic discipline so that a single wining trade can compensate several bad trade.
My methode is based on two steps (1) Pre-market home work---(i)Selecting few stocks from EOD chart .In my selection I only use price movement and volume. Keep those stoke in long watch list wich are in established up trend and out performing. Oppositely made a short watch list.Re configure manshi rt accordingly deleting previos watch list and also the ODIN watch list.I do this regularly before market opening.
(2)ORDER EXUCUTION DURING MARKET HOUR-It is more important and difficult task. I use smart trades stochastic method . you can see its details from here http://www.traderji.com/day-trading/30182-how-trade-oscillator.html-One can really improve if he stitch with the rules with discipline .look for go long from your long watch list and short from short watch list.
I divide my capital in equal 4 parts to take positions in four stocks .moreover subdivide each part by 3 .Never putt your all money at once ,do it in three steps.
During market hour I use 4 panel of amibroker. 1st panel contain simply price candle and volume,2nd panel contain pattern recognition tool ,3rd panel is more important to me .it contains stoch , price movement with respect to nifty and volume.Actuly I stich to this panel and switch other occasionally if fine tune required.
Fourth panel contains an afl I picked from traderji, named essential traders tool it contain day hi lo pivot etc.
I never use any black box system , never use tips (keep my mobile switch off),Never watch news channel during market hour.Rather I prefer cartoon network ,Tom and jerry is still my favorite.
Here I am attaching my 3rd panel, Here you can watch my long and short lists which was for 16 nov .Today I stopped out from two long trade cipla and rolta ,still in good profit .( Sorry I cant upload image as it is more than 100kb even after compression
)
Friends here I am going to share my own method for day trading to refine and fine tune myself. May be someone find it help full.You all know that there is no system, method to forecast accurately intraday movement of stocks. So what can we do to make odd favorable (1) minimizing no of losing trade (2)minimizing losses in each losing trade (3) It is not enough just to increase the no of wining trade but it is more important to increase the quality of wining trade. As you know a single bad trade can wipe out your profit of 10 wining trade oppositely it is necessary to develop systematic discipline so that a single wining trade can compensate several bad trade.
My methode is based on two steps (1) Pre-market home work---(i)Selecting few stocks from EOD chart .In my selection I only use price movement and volume. Keep those stoke in long watch list wich are in established up trend and out performing. Oppositely made a short watch list.Re configure manshi rt accordingly deleting previos watch list and also the ODIN watch list.I do this regularly before market opening.
(2)ORDER EXUCUTION DURING MARKET HOUR-It is more important and difficult task. I use smart trades stochastic method . you can see its details from here http://www.traderji.com/day-trading/30182-how-trade-oscillator.html-One can really improve if he stitch with the rules with discipline .look for go long from your long watch list and short from short watch list.
I divide my capital in equal 4 parts to take positions in four stocks .moreover subdivide each part by 3 .Never putt your all money at once ,do it in three steps.
During market hour I use 4 panel of amibroker. 1st panel contain simply price candle and volume,2nd panel contain pattern recognition tool ,3rd panel is more important to me .it contains stoch , price movement with respect to nifty and volume.Actuly I stich to this panel and switch other occasionally if fine tune required.
Fourth panel contains an afl I picked from traderji, named essential traders tool it contain day hi lo pivot etc.
I never use any black box system , never use tips (keep my mobile switch off),Never watch news channel during market hour.Rather I prefer cartoon network ,Tom and jerry is still my favorite.
Here I am attaching my 3rd panel, Here you can watch my long and short lists which was for 16 nov .Today I stopped out from two long trade cipla and rolta ,still in good profit .( Sorry I cant upload image as it is more than 100kb even after compression
)
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