Random Ideas on Intraday trading

sanju005ind

Investor, Option Writer
#11
c. For price action trading. No need to refer any books.I tried Albrooks and YTC. Too complicated. Everything can be found in this forum only.If one digs deep enough it is a goldmine.

a . One can never know in advance if it is going to be a big movement day or not one should take all the signals as it comes.Also one of the quotes which is etched in my mind deeply is the one by STda

"5th June 2011
We should take all trades with the belief that they will be big winners.....but manage all of them with extreme care in such a way that any of those trades can lose and we don't want a single big loser."


b. Look at the Day 1 Candle it closed in the red. Many people would be holding short. Day 2 Opened halfway up over the Day 1 range. it even went low traders would have added more shorts.
after that it started moving up and then all the previous day short would start covering.Once it goes up above Day 1 More longs would have jumped in taking it much higher. Similarly opposite is true.

1590662620905.png


Examples of Flip open days from short to long.

16 Nov 2017
29 Jun 2018
29 Oct 2018
3 June 2019
 

niftytaurus

Well-Known Member
#12
c. For price action trading. No need to refer any books.I tried Albrooks and YTC. Too complicated. Everything can be found in this forum only.If one digs deep enough it is a goldmine.

a . One can never know in advance if it is going to be a big movement day or not one should take all the signals as it comes.Also one of the quotes which is etched in my mind deeply is the one by STda

"5th June 2011
We should take all trades with the belief that they will be big winners.....but manage all of them with extreme care in such a way that any of those trades can lose and we don't want a single big loser."


b. Look at the Day 1 Candle it closed in the red. Many people would be holding short. Day 2 Opened halfway up over the Day 1 range. it even went low traders would have added more shorts.
after that it started moving up and then all the previous day short would start covering.Once it goes up above Day 1 More longs would have jumped in taking it much higher. Similarly opposite is true.

View attachment 42750

Examples of Flip open days from short to long.

16 Nov 2017
29 Jun 2018
29 Oct 2018
3 June 2019
Thanks a lot for your reply.Its really so nice of you.
I have already read YTC & ALbrooks years back .But I couldnt know how to apply it in our market.
So can you share link of those threads which can help in Price action intraday trading.Shubhadip's Bro Thread& St Da thread I had already read & make hard copy notes also.
thanks a lot again
 

sanju005ind

Investor, Option Writer
#13
Thanks a lot for your reply.Its really so nice of you.
I have already read YTC & ALbrooks years back .But I couldnt know how to apply it in our market.
So can you share link of those threads which can help in Price action intraday trading.Shubhadip's Bro Thread& St Da thread I had already read & make hard copy notes also.
thanks a lot again
Those two are the ones which forms the core. You can build system rules around the add some things of your own. I remember you were good in making pivots in those threads. This was 5 years back. The pivot system is the simplest yet powerful one. With set rules this is the best mechanical trading methodology.

Also I keep practicing trades with amibroker replay .I take some random period in the past and do some sample trades. 1 hour on weekends.
 
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sanju005ind

Investor, Option Writer
#15
@sanju005ind sir, couple of questions regarding yesterdays trade
i) was first entry taken on the bar which had a wick or it was taken on the next bar?
ii) once first add on trade was taken, was ISL brought up to cost?
Entry was taken at the high of the small bar(2nd Bar).
ISL was moved to the nearest pivot low. hence the risk was same but position was double.
SL should be placed at place where market should not comeback(usually). Never think of break evens.
If we move to breakevens then SL will be surely hit.
 

travi

Well-Known Member
#17
Today entire trade was within yesterdays zone. Hence have to be very quick in taking profits.
took three trades One Long and two shorts. No more trades after 12:00 PM. Market sideways.
View attachment 42766
My long trade was exactly like the one you described in your 2nd trade :D

last few days or couple of weeks, i'm trading hdfcbank instead of BNF and it seems to work better.
Earlier we didnt have such a divergence among them but with hdfcbank i'm getting lesser whips.
 

sanju005ind

Investor, Option Writer
#19
When my company told me to work from home on March 13th. I decided that things might get worse and they might stop the trains. Hence I traveled to Hyd on March 15th to be with family. Since then I am here in Hyderabad working from home. Good that I made timely decision. Now I am told that my company might call me back to Pune office in Dec , till such time I will have to work from home. Good to be with family after three years staying away. Now that I am home and full time working in front of computer I thought I should start off my intraday which was always done sporadically. Since march I have been testing.Started Intraday from 18th May. This is like a dry run if I have to trade full time. Who knows with this kind of economic conditions my job might be at risk I somehow feel that. the kinds of trades I do are as follows.
1. Long Term Investing where my major capital goes.
2. Option Selling During earnings season ( Only Four times in a Year).
3. Non Leveraged Cash Only Long Only Swing/Positional trades.
4. Intraday (Nifty Only).

In this thread I will be sharing my intraday trades only.
Also I would like to bring out the Gyan given by seniors so that I can reinforce myself and all.
 

andal

Well-Known Member
#20
I have created an account in Virtual stocks in ICICI Direct. Using this platform we can trade F&O using virtual cash.
Started intraday trades for Nifty Futures (so far discretionary) for learning purpose. I want to trade in this Virtual account for atleast 1 year to learn and understand how Index trading works
 

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