Day Trading A Single Stock

#11
I don't understand much about MACD (looks too complicated to me), but maybe no trade in the 1st hour should work out better. Then wait for the crossover and a retracement to the average. The problem is that it may not retrace enough to facilitate an entry :)

1533229294000.png


Good luck :up:
 

newtrader101

Well-Known Member
#12
I don't understand much about MACD (looks too complicated to me), but maybe no trade in the 1st hour should work out better. Then wait for the crossover and a retracement to the average. The problem is that it may not retrace enough to facilitate an entry :)

View attachment 27100

Good luck :up:
Thanks, TP. :). In your chart, it looks a beautiful trade.
 
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newtrader101

Well-Known Member
#14
With 1 scrip I think one could trade better and successfull ...
Please share your backtest data ....if possible
Vijay, thanks for asking that question. The return is 33.86%, not 200% as I said earlier.
BACK TESTING RESULTS:
1533263969166.png


If we take expenses as 2.30 per complete trade, for 19 trades, 19 x 2.30 =43.70
Net profit = 237.80 - 43.70 = 194.10
On a 10% margin, assuming an initial capital of 145.00, 194.10/145.00 x 100 = 33.86% (19 trading days)
 
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UberMachine

Well-Known Member
#15
Vijay, thanks for asking that question. The return is 33.86%, not 200% as I said earlier.
BACK TESTING RESULTS:
View attachment 27113

If we take expenses as 2.30 per complete trade, for 19 trades, 19 x 2.30 =43.70
Net profit = 237.80 - 43.70 = 194.10
On a 10% margin, assuming an initial capital of 145.00, 194.10/145.00 x 100 = 33.86% (19 trading days)
Hi,
Are you going to execute the orders as LIMIT or MARKET?
If in case of a MARKET order, add some provision for slippage (this will eat into your costs in case of day trading)

And as a further idea, backtest the strategy for any 3 months in previous years and compare the results.

And most important (since you are trading in a single stock).
Keep a list of your expected and actual profits in an excel sheet to track performance
 

newtrader101

Well-Known Member
#16
Day 2
Entered short @ 1415.90.
This time entry was a little different. It gapped down nearly 1%. Because trends don't reverse quickly, entered on break of first five minute's low.

Squared off when a huge buying volume appeared at 14:24 @ 1412.40, w/o waiting for cross over. It did'nt cross. Reentered @ 1411.05.
Today's profit= 2.60.
Adding expenses, Net profit= 2.60-2.30 = 0.30.
Never thought it'd be this hard, fighting for each paisa!

1533272517751.png


Observations:
Stochastics seems to be giving better entry point than MACDH.
The stock is falling in bearish volume on the daily. Maybe it is preparing for a rise.
 

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mravi

Active Member
#17
Day 2
Entered short @ 1415.90.
This time entry was a little different. It gapped down nearly 1%. Because trends don't reverse quickly, entered on break of first five minute's low.
View attachment 27116
Stochastics seems to be giving better entry point than MACDH.
I suggest you look at Hull Moving average(25) with Super trend as stop loss on bank nifty 15 mins chart.

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mravi

Active Member
#19
I suggest you look at Hull Moving average(25) with Super trend as stop loss on bank nifty 15 mins chart.

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Hi mravi, could you post a screenshot with this?
See attached. The direction of the Hull MA is what matters. Follow it's angle to take trades with a condition that longs allowed above super trend and MA direction up.

Shorts allowed with MA below super trend, and MA direction downwards.

If MA line is too far away from super trend, wait for chance.

For example, if the direction of MA down and it is above super trend, then don't hold position.
Hold position only when direction is upwards, SL should be placed at super trend.



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primitivetrader

Well-Known Member
#20
all indicators are useful and all of them lag. but indicators are secondary level confirmations. primary is reading price action, which i think you are missing in your trading. volume is very deceptive if you dont understand it properly. its one of the most complex indicators to learn. but you can make good profits even without using it.
why dont you trade high beta stock?
 

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