My Vision, My option scalping strategies and My daily Profit/Loss

[anuragmunjal]

Dear AW10,

Thanks for your valuable post..
but
I go through NAC calling jobbers/scalper.. thread its proved that if someone not have speed in keyboard then they can's success...

the right execution of trade, at right places will. So you need to focus on trade selection and trade exits I agree with you but that required speed...

My only suggestion will be to take the bigger picture of your trading and try to address multiple areas of it. Focus on 1 or 2 areas may still leave you struggling, even after you have mastered them.

Thanks for your suggestion, i want to start with scalping, once i succeed as a scalper... then i am targeting swing trading...

I want to do "restrictive or judicious scalping"
that explain by anuragmunjal sir,

Quote:
Originally Posted by vallabh_joy123 View Post
Please some more lite on charts.. for scalper..

as i planned to do scalping in index option and ICICI bank..(because I track since last 3 yrs)

I think charts is basic need for scalper.. because it shows direction when to buy or sell

I want to use amibroker.. and infact i installed.. will be subscribed for rtdata..
i want to use 1/2 min or 1 min time frame for my analysis chart.. for scalping..

am i right...anuragmunjal sir


hi Vallabh

scalping is a term which is used and interpreted in many ways these days.
a few years back a pure scalper wd not have the time to look at charts.
but that kind of scalping is in any case dead after the advent of bots.
under the present scenario, u may try & do some kind of 'restrictive or judicious scalping' taking the help of charts.

regards
Quote:
Originally Posted by vallabh_joy123 View Post
Please eloborate the word "restrictive or judicious scalping"

Thanks


hi Vallabh

by defination scalping wd be a way of trading where the trader is aiming to eat the difference between the bid and the ask. till a few yrs back, active scalpers used to trade the markets putting in hundreds of trades per day trying to catch very small moves in stocks.

as I have mentioned earlier this kind of scalping is not very paying anymore(largely)
what i mean by 'restrictive or judicious scalping' is that u can try and trade on specific setups based on charts where the trade wd emulate a scalp as in it wd be a low risk low profit trade, but u trade only once ur 'setup' conditions are met.

regards


AW10,

word setup means ?

Thanks


Regards,

hi Vallabh

it is beneficial to have a good typing speed if u are scalping but as AW10 has pointed out it is just the first step. ur speed of 88 is reasonably good.

also I have mentioned that the scalping scenario has changed and after the advent of bots, it is very difficult to pick up the diff. between bid and ask.
few nse members buy rack space to put up their servers next to the nse server in Mumbai. obviously thier updation and execution wd be faster than urs. therefore, I believe it wd be futile to compete with them.

hence I mentioned that u may try and do 'restrictive' or 'setup based' scalping and if that is what u are aiming at, then I feel keeping a target of minimum 50 trades a day wd be wrong.
an example of 'setup' based scalping wd be as ST had mentioned that he only
takes scalp trades around pivots.

regards

 

[vallabh_joy123]

My 1st week review...

Day 1 Loss of Rs.6500

Day 2 Profit of Rs.700

Day 3 Loss of Rs.650


Last few days I am just tracking the market... because i am busy in some other work...

Tomorrow onwards fully concentrate on market...
:thumb:

Regards,

 

[vallabh_joy123]

Day 1

I am totally confused how to trade by using chart.. All trade of mine goes wrong direction.. in second half i decided to trade without chart few trades are favorable and few are adverse... but at the end of the day i am suffered loss of Rs.6500...

My first day is worst day I never forgot..



Regards,:!

 

[vallabh_joy123]

Day 2

My day two is overall good. once in a day my profit reach at Rs.5500/- but only one wrong trade i suffered a loss of Rs.3000 and few trades around Rs.300. still i am in blue.. at the end of day i am sustained with profit of Rs.700

Regards,

:thumb:

 

[vallabh_joy123]

Day 3

Day 3 is overall average except one trade..

Intraday i reach profit of Rs.4500 but one big move on downside that i don't recognized and suffered a loss of Rs.4000(in one trade + to avg. this trade i add some more qty) I think doing average in worse market condition punished me in Red... At the end of the day i suffered loss of Rs.650


Regards,

 

[vallabh_joy123]

Day 4

Day 4 is good for me.. i am in profit of Rs.2400...


Overall good day for me...


Regards,:clap:

 

[s.parekkel]

Hi Vallabh, I am also planning to do get into the same trade. I will be opening a PIS/Demat account by next week. Before that I am studying how can I know more/better about trading. well I learnt something new on TJ from u is Scalping (Quick Trading). Thanks for the information. You have said as below
I found best Broker from TJ..
I found Technical Analysis software from TJ..
I found different strategies from TJ..
I think i found successful setup from TJ..

Can u share more info on above 4 info.

Which Broker have u found (I have planned to use Geojit Securities)
Which technical analysis software have u found on TJ
What strategies have u found.

Thanks - Sunil S Parekkel (Dubai)

 

[vallabh_joy123]

Hi Vallabh, I am also planning to do get into the same trade. I will be opening a PIS/Demat account by next week. Before that I am studying how can I know more/better about trading. well I learnt something new on TJ from u is Scalping (Quick Trading). Thanks for the information. You have said as below
I found best Broker from TJ..
I found Technical Analysis software from TJ..
I found different strategies from TJ..
I think i found successful setup from TJ..

Can u share more info on above 4 info.

Which Broker have u found (I have planned to use Geojit Securities)
Which technical analysis software have u found on TJ
What strategies have u found.







Thanks - Sunil S Parekkel (Dubai)

Dear,

Broker, I am using Zerodha for trading...
Technical analysis, I found Amibroker(Required data feed) as well as FXcentral(but not working last few days)...
many strategies available but currently i am following 3x13x39 EMA... &
315 EMA... (For strategies, any TJ member comment or views required)


Thanks
Regards,:thumb:

 

[ajshare108]

although I am not a day trader but my view is that first few days u just view daily chart, u will find may comman patterns in daily chart which are mostly give the right picture about the future move. so instead of using so many technical tool, few days just look at daily chart and find the petterns which suits your trading style.

 

[pav]

Dear,

Broker, I am using Zerodha for trading...
Technical analysis,I fou nd Amibroker(Required data feed) as well as FXcentral(but not working last few days)...
many strategies available but currently i am following 3x13x39 EMA... &
315 EMA... (For strategies, any TJ member comment or views required)


Thanks
Regards,:thumb:

Dear Vallabh,
you can get data for Amibroker from-
http://www.investbulls.com/
http://www.truedataindia.com/
http://www.market-data-provider.com/