My Journey In Technical Analysis

[niftytaurus]

This is for intraday only.

1.I stick to one instrument that is BNF.
2. Made a rule of not more than 2 trades a day.
3. In the current market condition I am happy taking 70 points - 200 points in a single trade ( dont regret that BNF moved 500 -600 points).
4. I enter/exit near the BNF reaction points (that's what I named them.)
The reaction points are where I see how price acts.These are also my target areas.

a. PDH,PDL,PDC
b. Daily Pivot Points (calculated,Classical),S1,S2,R1,R2
c. 200 EMA,VWAP,
d. Sometimes the weekly pivot if they fall in today's range they are stronger.

So in this type of trades the entry will be early and SL will be small. Direction will be dictated by the hourly chart.Trading TF is 3 mins.

To measure the momentum I keep the 5 EMA and see how price closes above it or below it in 15mins/Hourly.

For exits I use the targeted approach and keep limit order near the reaction points.
Also there are nuances which I observe in the market like how the first 1 minute is of the 5 min candle and how the first 30 mins are in an hourly candle and I can anticipate the change in orderflow.

All of the above I have adapted for the kind of environment I have.
I work in office and trade from the browser which gets the data from the proxy server in US.Hence I may have lag in price.
I will be pulled into unexpected meetings or unwanted people around from whom I wish to hide the screen.

May be I will trade differently if I am a fulltime trader.

Thanks a lot Sanju Bro for such a detailed & informative reply.It will give me new insight.
Its really Creditable that Despite working in office, You trade so well. Aap part time trading main itna badiya kar rahey hai, full time aaye to gazab kar dogey
thanks a lot

 

[sanju005ind]

Thanks a lot Sanju Bro for such a detailed & informative reply.It will give me new insight.
Its really Creditable that Despite working in office, You trade so well. Aap part time trading main itna badiya kar rahey hai, full time aaye to gazab kar dogey
thanks a lot

All thanks to STda's advice "Screen Time" market is the ultimate teacher of all.

 

[iwillwin]

I too have limited the number of trades in a similar way.That reduces the cost very much.

Also probability of giving back to market reduces....

 

[timepass]

Also probability of giving back to market reduces....

 

[XRAY27]

This is for intraday only.

1.I stick to one instrument that is BNF.
2. Made a rule of not more than 2 trades a day.
3. In the current market condition I am happy taking 70 points - 200 points in a single trade ( dont regret that BNF moved 500 -600 points).
4. I enter/exit near the BNF reaction points (that's what I named them.)
The reaction points are where I see how price acts.These are also my target areas.

a. PDH,PDL,PDC
b. Daily Pivot Points (calculated,Classical),S1,S2,R1,R2
c. 200 EMA,VWAP,
d. Sometimes the weekly pivot if they fall in today's range they are stronger.

So in this type of trades the entry will be early and SL will be small. Direction will be dictated by the hourly chart.Trading TF is 3 mins.

To measure the momentum I keep the 5 EMA and see how price closes above it or below it in 15mins/Hourly.

May be I will trade differently if I am a fulltime trader.

Nice discussion Sanju !!!

 

[XRAY27]

Also probability of giving back to market reduces....

This is the main reason, it also reduces the stress in the market,over trading etc ... just 100 to 150 points in nifty and 300 to 500 in BNF is an average earning for intra , you do what ever dance ...but this reduction of trades should be done systematically with rules..discretion kills qty you trade( this is my experience ),

Same rule applies to swing/positional trades, because we are exposed to black swans...

Even if system is discretionary, we should keep a daily limit for loss and keeping no of trades to 2 is much better.

 

[niftytaurus]

This is for intraday only.

1.I stick to one instrument that is BNF.
2. Made a rule of not more than 2 trades a day.
3. In the current market condition I am happy taking 70 points - 200 points in a single trade ( dont regret that BNF moved 500 -600 points).
4. I enter/exit near the BNF reaction points (that's what I named them.)
The reaction points are where I see how price acts.These are also my target areas.

a. PDH,PDL,PDC
b. Daily Pivot Points (calculated,Classical),S1,S2,R1,R2
c. 200 EMA,VWAP,
d. Sometimes the weekly pivot if they fall in today's range they are stronger.

So in this type of trades the entry will be early and SL will be small. Direction will be dictated by the hourly chart.Trading TF is 3 mins.

To measure the momentum I keep the 5 EMA and see how price closes above it or below it in 15mins/Hourly.

For exits I use the targeted approach and keep limit order near the reaction points.
Also there are nuances which I observe in the market like how the first 1 minute is of the 5 min candle and how the first 30 mins are in an hourly candle and I can anticipate the change in orderflow.

All of the above I have adapted for the kind of environment I have.
I work in office and trade from the browser which gets the data from the proxy server in US.Hence I may have lag in price.
I will be pulled into unexpected meetings or unwanted people around from whom I wish to hide the screen.

May be I will trade differently if I am a fulltime trader.

Whats your min -maximum ISL nowadays?
thanks

 

[gamblerforever]

Whats your min -maximum ISL nowadays?
thanks

Dude .. what meant by ISL ?

 

[XRAY27]

Dude .. what meant by ISL ?

Initial Stop Loss -ISL


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[gamblerforever]

Initial Stop Loss -ISL


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how r u