Day Trading Stocks & Futures

PreSap

Well-Known Member
if you are talking only about the set up ya its a BO set up, but in nifty, which i have not tested or checked for BO setups
my posts were about trend trading BO set ups in 10 selected stocks in the direction of nifty trend.
standalone basis above is a quality BO set up.

P.S - although i have not tested extensively, my observation is that trading stocks intra is far easy than trading index futures. almost all reasonably good conventional methods work on stocks
Thanks for confirming PT sir.

Would you mind commenting on the following questions:

1. Do you directly enter at breakout above pivot or wait for the candle to close above BO level and buy above this or wait for a retest of the breakout level?

2. How do you place SL if you enter at breakout?

TIA
 
Would you mind commenting on the following questions:

1. Do you directly enter at breakout above pivot or wait for the candle to close above BO level and buy above this or wait for a retest of the breakout level?
you can do any of the above.
but I would place a pending order above/below pivot if (this is a must) there is congestion/buildup of 2 to 10 bar at/around BO line. here you get the best R: R. downside you may get a fakeout.

if you wait for the candle to close above the BO level and then enter most of the time your R: R is not a favorable

break and retest (BNRT) in itself is a setup. you can use it. but if you have to judge where the retest is terminating (there are ways and means to do it many traders use this type of entry ). I use it but when there is a direct BO without much build-up at/around the BO line.

2. How do you place SL if you enter at breakout?
below is taken from Volman's book. most referred is 3. in 2 you can use BNRT. 1 avoid.

 

Nish

Well-Known Member
Can BN 37300PE upto 37100PE be profitable to trade of 4thAug expiry !
.. Just in watchlist !
In the morning , BN 37300PE gave a quick single trade from 190 to 245 , total 50 pts per lot ! ... Not Bad !

Likewise, N 17100PE gave quick points from 50 to 90 plus i, 40 pts per lot n just 10 min.
Market moved higher after that ! ... Waiting again !
 

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