Day Trading Stocks & Futures

Wah bhai wah, that's the spirit :clapping:

Today only paper trade, was confident at preopening but after 1st 5m bar I was short which turned profitable. ie. break of 18920

Also expecting today to be very narrow and some profitbooking.

As per intra trend, again wanted to short at 18880 which would've given good R:3R and later mkt reversed.

Why paper trading today ? any particular reason

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I mentioned in the post that I got read strong signals both opposite so though of being on the sidelines.
After morning move thought it will stay sideways but tuk-tuk went up
Above low of opening 5m bar there was no point going long.

In fact if you see, it came down from there, so like TP Bhai the other day, my SL would have hit both sides

idea for exits

My 2 Cents, the 1m TF TSL might not work on our type of Vola instruments.
I say "might" but damn sure
Use pivot or S/R for BNF type.
For BNF its opposite, I move to higher TF after moving ISL to TSL to cover trx cost.

he trades only BNF from last 2 years and successful in it.
but I need to work on my exits , weekend work

although I do not track Axisbank , but yesterday taken a long trade near the lower line with hopes of hitting the top line ,
look what the crap it turned out and today it was +20 up:annoyed:





Today

Aaram karo, others may or may not, you will survive the markets
Even today in last 20m or so lot of long in IxFut.

I read somewhere about trailing stops and think its a good approach.

Set limits as to how much you are willing to give back.

Let's use take an example where your target is 100 points.

Let's say it moves 30 points in your favor. If it comes back, get out at breakeven. You can always reenter the trade if it meets strong support. There's no reason to lose on this trade.

Let's say it goes to 50 points, Be willing to give back 75%, which is 38 points.

It goes to 75 points, Be willing to give back 40%, or 30 points.

It goes to 90 points, give back 25% or 22 points.

You can use your own figures, but the point is that as a position moves further in the money and closer to your target, tighten up your stop. The goal is to make money, not to hit targets

Thanks , I have to memorise this line , sometimes I just wait for S/R to hit and if price turns back without hitting them , I go mad.