Nifty30

This is something i am trying to work on now a days. Trading nifty on the 30 min time frame. Its a lot harder than i imagined. Intraday trading with smaller tf is relatively easy since its just a matter of proper execution of a trading plan. But when bigger volumes come into the picture, smaller tf create a lot of mental pressure. So its time to switch to higher time frame.

This is going to be a test of my patience and since i get a lot of time to micro analyze the market, it makes things a lot more complicated and counter productive. Initiating a trade with 75 point stop loss is something i never did before. My forte was always tiny stop loss and awesome risk reward ratio. Coming out of my comfort zone is proving to be a tougher challenge and its time to face the music.

This thread is going to be my log book of my journey into the new challenge.

As usual, feel free to post your views. I need all the help as possible....

This is something i am trying to work on now a days. Trading nifty on the 30 min time frame. Its a lot harder than i imagined. Intraday trading with smaller tf is relatively easy since its just a matter of proper execution of a trading plan. But when bigger volumes come into the picture, smaller tf create a lot of mental pressure. So its time to switch to higher time frame.

This is going to be a test of my patience and since i get a lot of time to micro analyze the market, it makes things a lot more complicated and counter productive. Initiating a trade with 75 point stop loss is something i never did before. My forte was always tiny stop loss and awesome risk reward ratio. Coming out of my comfort zone is proving to be a tougher challenge and its time to face the music.

This thread is going to be my log book of my journey into the new challenge.

As usual, feel free to post your views. I need all the help as possible....

This is something i am trying to work on now a days. Trading nifty on the 30 min time frame. Its a lot harder than i imagined. Intraday trading with smaller tf is relatively easy since its just a matter of proper execution of a trading plan. But when bigger volumes come into the picture, smaller tf create a lot of mental pressure. So its time to switch to higher time frame.

This is going to be a test of my patience and since i get a lot of time to micro analyze the market, it makes things a lot more complicated and counter productive. Initiating a trade with 75 point stop loss is something i never did before. My forte was always tiny stop loss and awesome risk reward ratio. Coming out of my comfort zone is proving to be a tougher challenge and its time to face the music.

This thread is going to be my log book of my journey into the new challenge.

As usual, feel free to post your views. I need all the help as possible....

First thing we need is a solid plan of action. That plan need to be reviewed every week and area of development isolated.

first thing I need to define is :

1.The trend-short term, mid term, long term.

2. Prevailing sentiments.

3. Phase of the market- sideways or trending.

4. Support and resistance.

5. Entry.

6. stop loss.

7. exit.

8. money / trade / risk management.

All the best, Linkonji.

Is it intraday or swing trading ?

One question i want to ask:
Whats the motive of this exercise ?
Taking trades based on the system that is developed here obviously.
So if we are going to trade 30 min tf what should be our expectation out of it ?
Should we try it on Bank nifty futures and CNX IT futures too ?
Are we going to look at only charts or macro too ?