Best way of day trading - 2652 theory of trading

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yashodhan

Active Member
#301
#301
tsunil4u said:
sell triggered at 2684.25
target achieved too


had some data problem on my side too..
confirmed H & L from the other thread

even nse website not giving FUT rates
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Hi Sunil,

What wwere ur high and low values? I never got the trigger of 2684.

I had a successful trade in BHEL though. Short at 1335 covered at 1325.
 
D

dhiraj11378

Well-Known Member
#302
#302
tsunil4u said:
there is a facility a facility "SCRIP ALERT" available in trading terminals.
this is a colour-coding alert when LTP of your scrip reaches or goes beyond your set base price.

For example, let's take RIL
CMP = 1150
& your buy = 1180
sell = 1120

so, right-click against RIL in your market-watch window, and choose SCRIP ALERT..
in the parameters box, we can enter max two conditions..
I enter these two parameters for buy & sell
when LTP>1175, then highlight it to GREEN
when LTP<1125, then highlight it to RED

normally, the background colour of market watch windows (based to ODIN or TRADEANYWHERE) is black or white.
After setting this condition, when LTP of RIL goes above 1175, then the whole row of RIL turns GREEN - this indicates to me that my BUY price (1180) is nearing. I then give STOP-LIMIT BUY order at Rs 1180 (meaning buy order will be triggered only when LTP is at 1180 & at a price not above 1180)
similiarly, when LTP goes below 1125, then the whole row of RIL turns RED - this indicates to me that my SELL price (1125) is nearing.

Suppose buy order is triggered, then:
1. I set a STOP-LIMIT SELL order for booking my longs (here, 0.5% target = 1186
2. I revise the condition for RED colour now for stop-loss highlight. (here, 1% SL = 1168.20)

Thus, if LTP of RIL goes to 1186, it will be sold at that price automatically.
and if it goes below 1170, then it will be highlighted RED, meaning my stop loss (1168.20) is near, and i set order accordingly.

THIS COLOUR-HIGHLIGHTING IS VERY EFFECTIVE. YOU CAN HAVE DIFFERENT COLOURS FOR TARGET, ETC TOO.
One more thing: it will remain highlighted as GREEN till LTP is above 1175.
If it goes at or below 1175, then no highlighting - you will come to know that it's going reverse now. And as soon as it turns RED, you know that your stop loss level is nearing; and accordingly modify the order.



THOSE WHO ARE SEARCHING FOR A FULLY AUTOMATED PROCESS FOR ALL ORDERS - THEN I AM SORRY TO SAY NO SUCH THING EXISTS & THEY SHOULD RESTRAIN FROM INTRADAY TRADING, IF THEY CANNOT SIT CONTINUOUSLY IN FRONT OF TRADING TERMINAL.
Click to expand...
yes sunil is right here
first u get ur buy and sell levels , put a price alert not exacly to the value but a point less for buy and point more for sell ( india infoline users have this facility , i dont know which others provide this of price alert ) for both the values
once ur price recahes close to this u will ahve a alert of which u can put either stop loss buy ( or stop loss sell orders ) or wait the prce to reach the actual value and then get in to trade .

here u must modify ur alerts as per ur high and low change .this point is important.
dhiraj
 
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