Scanning stocks for intraday trades

#1
Hello All

have some familiarity with only equities, so i like to start with them first.

I have familiarity with basic indicators like - MACD,RSI,Stoch D & K, ADX, Bollingerbands,ATR, Support & Resistance levels and what values mean in them.

Trying to learn how to draw trend lines,stop loss determination & position sizing.

I have configured Amibroker & (1-min delayed) data from google for intraday working. So i believe i am set to scan and do some paper based trades.

I am comfortable with making my own AFLs or modifying existing AFLs

So what i am expecting learn for the experienced folk is that,
  • what are the different possible ways to scan for stocks for intraday trade
  • What are the factors to look for before commiting to make a buy or sell decision.
  • how often does the senior folk scan during the day
  • Do you scan for all of nse stocks or just in NSE200 /NSE500. What would be better option.
  • Since i have chosen to do intraday trades, how long does an average intraday trade go, 1minute/5 minute? or 15 minutes?

Happy to hear other suggestions, But basically i want to use this thread to learn about scanning for stocks before they leave me in the dust :)

Thanks in advance
 

rvlv

Active Member
#3
hi
why dont you write your idea on how do you pick stocks?
First thing
when a person trying to solve a 20 step equation ,if he makes mistake right at step one,what will be his fate later on?


some hints are
would you trade a stock that doesnt move much?
would you trade stocks that have no good volumes?
would you trade stocks that have price of rs 5 or rs 2 or rs1?
would you trade stocks while nifty index is on a downward move?
what stocks does your universe contain?
in market the trading takes in 20% of top stocks but their turnover would be 80% of total market turnover. does this m,atter to you when you say nifty 500 or nifty 6000 stocks?
It is easy to ask. it is very hard to think.
 
#4
Stock markets are expected to see volatile trades in the near-term and global factors will influence trading at the domestic bourses in a holiday shortened week ahead.This is a hint for the market traders to trade.
 

manishchan

Well-Known Member
#5
So what i am expecting learn for the experienced folk is that,
  • what are the different possible ways to scan for stocks for intraday trade
  • What are the factors to look for before commiting to make a buy or sell decision.
  • how often does the senior folk scan during the day
  • Do you scan for all of nse stocks or just in NSE200 /NSE500. What would be better option.
  • Since i have chosen to do intraday trades, how long does an average intraday trade go, 1minute/5 minute? or 15 minutes?

Happy to hear other suggestions, But basically i want to use this thread to learn about scanning for stocks before they leave me in the dust :)

Thanks in advance
Ways to scan stocks for intraday depends on your trading methods. If want to trade only equities for intra, best thing to do is to select 10 scripts and only follow them. You would need to ensure that the scripts have good volume. Some of the common ones people trade are SBIN, Axis Bank, Tatamotors, DLF etc. I trade only NF and BNF so eyes only on them. Now, the usual length of a trade depends on the market. If the market is choppy, you can kill the trade as soon as it reaches your pre-defined target. In a trend day, trailing stop loss is highly recommended.
 

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