Intraday trading structure

FLOW CHART FOR INTRADAY

1. Define a structure for intraday

2. Defining a system that your suits the personality

3. System+Structure =Strategy for trading..

All right, anyone care to discuss a gap up ? Yesterday it was Siemens, today it is HDFC. What kind of trade would one take here ?

This might be useful.

The open is a very complex set of topics and gap opens are an important source of information about the day's price action. Occasionally, the market opens very near to the close of the prior day (less than one average bar). This usually can be traded as if there was no gap and the open is simply continuation of the prior day's price action. Usually, the open almost always is a few bar lengths away from the close of the prior day. This is a small gap and usually this acts like a breakout or a trendline break. Usually, the market attempts to close small gaps giving either a pullback from the gap breakout or re-test after the gap trendline break. Sometimes small gaps will extend before closing and this will lead to a protracted trend after reversal. When a small gap extends, you usually have no idea how far it will go but you always know that the reversal will test the close of the prior day.
Source:
http://ninetrans.blogspot.in/search?q=the+open+gap

Matching points days

1.When open and low are same in morning candle and it holds

2.When open and high are same in morning candle and it holds

3.Gaps days where market is stuck in between the morning candle

4.Huge monster candle effected by freak day

x-ray sir, good thread for learners another gem started from you. keep going.
i think we have good time that we have masters like you, vijay started threads for learning the art of trading.

pls post some charts about the "matching point days". it will be easy to understand words along with images.

With in the forum you can see STda,saint,avny/niftynirvana stuff which is nothing but ytc,

Just clarifying, ytc is yourt******c***h.com, right?

Why we are hopping to system after system?

It is because we don't have faith on the system we follow. First we get attracted towards the system, because xyz is following it and getting success. We also get interest, we devote our time, we learn, we get some profit also.

But then comes a time, when the same system don't give money to the trader, let there be for any reason. At that time doubt comes to our mind.

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I remember a story, which i feel i should narrate here.

There was a milkman, who sell his milk in the near by market. In between comes a river, so the milkman depends on the boat to cross the river. Once on a rainy season, that milk man was waiting for the boat to cross the river. A sage was passing by, and casually asked the milk man that, why for he is waiting there? The milkman told that, he is waiting for the boat to cross the river, so that he can go to the market to sell his milk. Sage told, "ohh is this the mater" and he wrote a Mantra on a leaf and gave to the milkman and advised him to keep that leaf in his pocket and walk over the water in the river. But cautioned him not to see what is written on that leaf.

Now every day the milkman was crossing the river by walking on the water. one day he was walking over and out of curiosity he thought that let us see, what is written on that leaf. When he opened the leaf, he saw, it is written "RAMA" . He told ahh only Rama's name is written on this!!! I was thinking some other great mantra is written on the leaf. His belief shaken out and drown then and there.

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So my point is without hopping from one system to other, we should adhere to one or max to max 2 systems. We must keep full trust. There will be sometime, when we will not get success, but we should not abandon the system. so the keyword is CONSISTENCY.




**Note: Don't think that i am consistent. By telling again and again, consistent, consistent, consistent, i am only telling myself to become consistent. It is my self suggestion.

Matching points days

3.Gaps days where market is stuck in between the morning candle

4.Huge monster candle effected by freak day
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Regular days:

when the current trading day is opened near yesterday close..we just assign the name as regular day

This is structure upon which we can integrate any trading system..Hope these points are clear to all...ask any doubt,with in the subject discussed so far..

Which timeframe to see for this morning candle ?? 3/5/15/60 ??

It depends on your trading time.. if trade 3 min then it is 3 if 60 min then it is 60


Xray is, I have one doubt.. Lets say the day is neither a gap nor a freak trade in opening tick.. It just opens near ysterday close, but the 1st candle (Yet to get the clarification on timeframe) is a WRB and rest of the day's action occurs in the 1st morning candle it self..

Huge morning monster candle is not a regular day... its a matching points day