First of all i wud like to thank all the members who have shared their trading strategy here because it has helped me a lot to learn the basics.. And thanks to Saint sir as well whose posts have really given me confidence
Im really new to trading and want to be a full time day trader. I had invested around 30000 in the market when sensex was at 21000 pts and now im in loss and i m still holding those shares
I have a great passion for trading and im monitoring a trading plan. I will mention the plan here but i have not used it for real time trades yet. I just monitor it at EOD and it does work when market is in trend either uptrend or down trend but it doesn't work on volatile day, I would be really thankful if u give me some suggestions and help me to make this theory work on volatile days as well. Please suggest any modifications if required
My theory is:
- I use indiainfoline trader terminal for charts and trade using 15min TF
-I use a filter of 2 and trade ICICI and RELCAPITAL shares
-I go long if the pivot high + filter of 2 is broken and i short if the pivot low + filter of 2 is broken
-If im in long then my SAR is the recent pivot low + filter(2) and vice versa if im in short
-I trade from the start of the market and clear my positions between 2.45pm and 3.00pm
-I do not reverse after 2.00pm rather clear my positions if im in loss or profit
-I do not enter after 2.00pm
-I place the buy/sell order before the market opens depending on the last pivot of the previous day
I don't know whether this is the correct theory to rely on so please help me and tel me if i need to make any changes so that it works everyday and in volatile market as well
Im really new to trading and want to be a full time day trader. I had invested around 30000 in the market when sensex was at 21000 pts and now im in loss and i m still holding those shares
I have a great passion for trading and im monitoring a trading plan. I will mention the plan here but i have not used it for real time trades yet. I just monitor it at EOD and it does work when market is in trend either uptrend or down trend but it doesn't work on volatile day, I would be really thankful if u give me some suggestions and help me to make this theory work on volatile days as well. Please suggest any modifications if required
My theory is:
- I use indiainfoline trader terminal for charts and trade using 15min TF
-I use a filter of 2 and trade ICICI and RELCAPITAL shares
-I go long if the pivot high + filter of 2 is broken and i short if the pivot low + filter of 2 is broken
-If im in long then my SAR is the recent pivot low + filter(2) and vice versa if im in short
-I trade from the start of the market and clear my positions between 2.45pm and 3.00pm
-I do not reverse after 2.00pm rather clear my positions if im in loss or profit
-I do not enter after 2.00pm
-I place the buy/sell order before the market opens depending on the last pivot of the previous day
I don't know whether this is the correct theory to rely on so please help me and tel me if i need to make any changes so that it works everyday and in volatile market as well
