intra day advice

#3
Basically there is no specific formula for day trading. Formula, different support and resistance levels, different charts etc. are different tools to optimise your policy so far as trading (intraday or long term) is concerned.
 
#4
Well, i am in search of day trading formula, from were one can calulated support level, resistance level,entry price,exit price(for a day) etc, which come in play for day trading,please tell from anyone from traderji site.What are important things for day trading.
 
#5
There are tons of information out there for daytrading.

You may want to invest in the home course "How to Get Started in Electronic Day Trading" by David Nassar, who is a successful day trader. This will give you an idea as to what is required to get started.

You also need to master the psychology of day trading. A good place to start is "Trading in the Zone" by Mark Douglas. This is probably the most important part of your education in being a successful day trader.

Then you can look at strategies that some of the masters use to daytrade. Some suggestions are "The Stock Trader" by Tony Oz and look at some of the techniques used by Sammy Chua.
 
#6
Intra Day trading strategy

Basic Guidelines:

This trading strategy is based support & resistance.

If market tests support and bounces up, then go long and place the stops just under the support level.

If price tests resistance and bounces down, then go short and place the stop just above the resistance point.

Take profits at a test of previous support or resistance.

Once the trade is in profit (how much is up to you) Move the stop to break-even, so your then sitting on a free trade

Trade the most active stocks that are in the BSE Sensex and NSE Nifty and have a high average daily range

if you are trading using intra-day charts, then use a 10 or 15 minute chart.

Look for a Reward / Risk ratio of at least 2:1 ideally 3:1

Do not hold trades overnight
 
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#7
Traderji,
As i have ask how to caluclated the support and resistance level or in other word for a day how to calcuacted the low and high of any stock. Please any body from this site let me know.
 

sudoku1

Well-Known Member
#8
Traderji,
As i have ask how to caluclated the support and resistance level or in other word for a day how to calcuacted the low and high of any stock. Please any body from this site let me know.
many types of chart studies r available like pivots ,camrilla,averages....u will find plenty in TJ:)
 

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