Any proven formula for Intraday

[vvenkat66]

Hi Members at Traderji

I have been doing trading in equity stocks last 6 years. i have made money as well lost, net result is few thousand plus.

Anybody can suggest, the best intraday practic resulting in minimum loss

Thanks in advance

VENKAT

 

[DSM]

Going with an indicator based strategy is like preparing for an exam with a set question paper. You know what you will do, if X, then Y, so you go confidently but the professor has tweaked some equations for the exam, and so that day X is not Y but something else.

So how should you prepare best? Have a broad understanding of the market, so that no matter what the professor throws at you, you are prepared and know atleast what to do. So,

* Learn to read and understand the market thru price action.
* Understand candle stick patterns.
* Know when the market is trending and when it is sideways (avoid)
* Check the higher TF (30/60/240M) and trade in direction of the trend.
* If trading against, know/define and trade with strict criteria/SL.
* Have a written money/risk management and trading plan.
* Cultivate patience and discipline.
* Limit trading to a few liquid instruments/setups.
* Trade in direction of impulse.

Good luck.

Hi Members at Traderji

I have been doing trading in equity stocks last 6 years. i have made money as well lost, net result is few thousand plus.

Anybody can suggest, the best intraday practic resulting in minimum loss

Thanks in advance

VENKAT

 

[AndhraCement]

y do u do only intraday ?

Why not delivery and wait for few days?

I am asking because i have the same bad habit of intraday and lost some thousands

I would have made a profit of 25k by now if i had just invested instead of doing intraday