Day Trading Stocks & Futures

[kharikumaar]

I just checked the afternoon posts. There were some charts by vikas, showing the channel, but nothing said about Downtrend.

Anyway, all of us say a lot about markets here. Sometimes correct and sometimes wrong.
I looked at the pattern & my comment is - EOD charts and chart patterns look very meaningful. Post mortem chart analysis is pointless. Be it any time frame, if you look at a closed chart, you can always find meaningful patterns. The more artistic the trader is, the more patterns he can find.
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further to these comments, here's my two cents worth.......
i dont follow charts much but have seen what you said happening. other than that we also have many traders ( me included ) after having learnt a lot of strategies trying to use multiple such strategies in their trading, we may take a position in one strategy and when the position starts to go against us , some of us try to hold on a bit longer justifying our decision by finding some pattern/ support from other stratgegies and this usually ends up in higher losses. for eg is we buy using gann and have decided a sl using gann, but when the position starts approaching the sl we will try to find lower supports using fibo / camarilla etc to justify to ourselves that our decision had been correct and that the market eventually turn in our favour .
i have been a victim of this for a long time and had stopped. but even now , there are some instances when i am still a victim to this. it is the psychology screwing our minds and its a hard task to control it which we should

 

[Jagadeesh T]

Say u have one stock/index closed at 100 today and next trading day it opens at 110 and moves higher or opens at 90 and goes lower ...in both cases if closing is above open/below open it creates a gap indicating lot of momentum in that direction....
Market have an uncanny habit of revisiting these lost grounds and hence we call it gap filling

Today bnf opened positive by 58 points. What does it mean..please clarify

 

[TraderRavi]

no attempt to move over 11150 leave alone 11200 ?? kya yaar just sideways

 

[nil.nik.9777]

"Don't predict the market, Just follow the market"
when ever market slaps on the face, this philosophy comes to mind.

I am following the market, but the intraday trend changed 3 times before it sharply fell down.
So the first 3 times, when I followed the market, my SL was sit and the 4th time, it collapsed so fast that I could not even take short position.

Yes.
When VIX is 27 such sudden moves are going to be there.
So as a intraday player one should play only if he is comfortable to change his positions quick enough.

 

[kharikumaar]

no attempt to move over 11150 leave alone 11200 ?? kya yaar just sideways

i had instructed nse to take the index up, they have told me that they are forced to take it a little more down before moving up /

 

[Raj232]

i had instructed nse to take the index up, they have told me that they are forced to take it a little more down before moving up /

Same here, the person I called was on tea break.. so he said he'll be back on seat only @ 10:30

 

[raindrops]

option mein spread jyada hota hai. It moves slowly in your direction but very fast in opposite. so you cannot escape with breakeven or small loss like in liquid nifty options thats why I dont trade in USD option. earlier I used to buy 100 lots in calls/puts but do teen baar badi wali batti lag gayi so decided to quit that type of risky bets
but USDINR futures are liquid with .0025 spread.

in that case sell options or spreads

how much to buy 1 lot in rupees?
and margin for selling 1 lot is same 2k?

 

[TraderRavi]

in that case sell options or spreads

how much to buy 1 lot in rupees?
and margin for selling 1 lot

I think selling margin will be same as future 2k.
soft_trader sells USDINR calls so he may reply if sees this post.

 

[kharikumaar]

Hello KK

What would the best BNF strikes for short straddle/straggle (23rd May)



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sorry chief, i have no idea about these option strategies. i do not trade any of them. i have always traded naked options ( i know it is risky and that the general opinion is against it, but to me, thats the comfort i have and i am happy with the returns) , though i tried i not able able to effectively grasp all the intricacies of various option strategies/ graphs and greeks and things, so i just trade what i find soothing to me.

so i am not the right person to advise you or give you any sort of suggestion on this.

 

[against_tides]

i had instructed nse to take the index up, they have told me that they are forced to take it a little more down before moving up /

haha..so you are co located....