Question to senior scalpers and day traders. Kindly guide

[hedgefudge13]

Hi all ,

Hope all of you are doing well.
I've been scalping for a month now and i'm trying to improve my understanding of the markets more so i can trade better . I've come across many people/threads and articles where they say , they always keep an eye on the index .
My questions is , do scalpers really need to keep an eye on the index ? as we are looking for tiny fluctuations in the market/stock . do we have the time to analyze both and take a call ? do you guys do it ?

I'm a bit confused cause i dont seem to do it and i dont get the point . maybe for a swing trader or a positional trade it makes sense for me .
I would like to know senior scalpers views regarding it .

Awaiting replies ,

Fudge

 

[sspms2002]

Hi all ,

Hope all of you are doing well.
I've been scalping for a month now and i'm trying to improve my understanding of the markets more so i can trade better . I've come across many people/threads and articles where they say , they always keep an eye on the index .
My questions is , do scalpers really need to keep an eye on the index ? as we are looking for tiny fluctuations in the market/stock . do we have the time to analyze both and take a call ? do you guys do it ?

I'm a bit confused cause i dont seem to do it and i dont get the point . maybe for a swing trader or a positional trade it makes sense for me .
I would like to know senior scalpers views regarding it .

Awaiting replies ,

Fudge

Hey Fudge...i am not a senior scalper..but learning the skill from last few months..

I really had to think for some time to answer your questions...I mostly donot see the index for scalping...because if the momentum is good than the scalp should work provided ur fast enough...

But on hindsight i see that on days when my scalps were not working...as the bids and offers would vanish in seconds and i was hung in between...i saw that because Index was still and also trying to get a direction..stocks were kind of doing the same..

Swing Traders wold have an advantage if the NIFTY is moving in their direction..but i guess scalpers can live with out it....

 

[arora]

I am Day trader, To take position in intraday. I always look at trend on 15 min chart and take position in favor of trend only . This practice has helped me lot. Sometimes it keeps me out of sideways Intra day. Also helps to keep out noise trading.