SI ,
Thanks a lot for the reply.
Learnt a great deal from your thread and hence i posted in your thread and we are in debt to you for constantly updating your thread. Please keep on posting irrespective of people bugging you .
Market movers = FII ?
I did paper trading from past two weeks and i earned .
Today i thought the free fall will continue and sold the contract irrespective of indicators (RSI and Stochastic (8,3, 4) showing in oversold and did not care about pivots. I took a desicion in split second ( greedy ) :annoyed:
I have few questions:
1.) Do you follow only volume price action ?
2.) What if i squared off my position now in NF , will it be done in pre open market tomorrow ?
3.) how important is Gap up and gap down in intraday trading ( margin and futures ) ?
my respects,
Avinash
Thanks a lot for the reply.
Learnt a great deal from your thread and hence i posted in your thread and we are in debt to you for constantly updating your thread. Please keep on posting irrespective of people bugging you .
Market movers = FII ?
I did paper trading from past two weeks and i earned .
Today i thought the free fall will continue and sold the contract irrespective of indicators (RSI and Stochastic (8,3, 4) showing in oversold and did not care about pivots. I took a desicion in split second ( greedy ) :annoyed:
I have few questions:
1.) Do you follow only volume price action ?
2.) What if i squared off my position now in NF , will it be done in pre open market tomorrow ?
3.) how important is Gap up and gap down in intraday trading ( margin and futures ) ?
my respects,
Avinash
Hello Avinash, (I was thinking while writing that what type of name is aviact!!)
Its my pleasure that you learnt something from my writings. Keep discussing. This is the best method of learning.
Market opened gap up, much higher, as said by you yesterday. Actually these are the times when fundamentals come in and disturb the technicals. Its a part of trading. TODAY MARKET PLAYERS PLAYED BEARS TRAP.
I did mistake of reading the little distribution as a big enough to move the market down. Lesson learnt and noted.
Nifty Spot touched exact 6300 but I am expecting it to touch or break 6357 of all time high then reverse in downward direction. If you check monthly chart then it is clear that volume is constantly decreasing per month basis and also range is also decreasing. Hence its a bearish indication on Monthly chart of Nifty Spot. Lets price reach there first then we will analyse it. Markets are dynamic hence so our analysis should also change as per market's movement.
Market movers = FII ?
As the term describe MARKET MOVERS mean one who moves market. Orders are orders whether they are from FII or DII or BANKING POOLS or MUTUAL FUNDS or BIG INDIVIDUAL player. 500 lots order has same effect on market irrespective of its source. I don't differentiate on this basis.
Anyone from the mentioned above can be trapped in the market. They also incur losses. ICICIBANK lost Rs 1000 Crores in 2008 crash. Market is supreme.
I did paper trading from past two weeks and i earned .
Two weeks of paper trading is very less for starting in real market. Even though you are ready, first trade in stocks then come into Futures and Options. Even today I trade 60 to 70 percent in Shares and only 30 to 40 percent in Index futures. If you traded using paper and pen then its useless. Do paper trading on the below mentioned site. Its helpful.
https://plus.omnesysindia.com/NestPlus/NSE/login.jsp
I used to trade it on this for many months before entering into real market. One more thing. You will generally win in virtual trading because there is no pressure on mind. Pressure slows our ability to think in right direction at the time of market hours. You will loose in virtual trading only if your strategy is wrong.
Today i thought the free fall will continue and sold the contract irrespective of indicators (RSI and Stochastic (8,3, 4) showing in oversold and did not care about pivots. I took a desicion in split second ( greedy ) :annoyed:
What you are thinking is not your complete mistake. There is one good thing in it that you have started taken decision in split seconds. This is the imp criteria for intraday trading. If one is slow thinker then he should do position trading instead of intraday trading. (My view and I may be wrong also)
Mistake was that you chose wrong direction. Problem is in your knowledge or understanding about the market. Its not a big problem. You need to concentrate on enhancing your trading skills. Gain some knowledge first. It needs some time and energy.
Greed is not bad. Its good but with greed you should also think about your stop loss before entering. If you are correct then its good but if you are wrong then what ? Simple STOP LOSS and out.
Don't use indicators in real time. They will slow you by atleast two to three bar always. One more thing. Whenever you see a volume of 6000 contracts on Nifty One minute bar then take it as a strong support and price generally bounce from it always and majority of times don't break it. Close should be above the middle on that candle. Please check the volume at your entry bar. Second 6200 level was imp level. You took short below and in the nineties. Price generally test these levels and break it by 13 points and mostly retrace back so never put stop loss in this range or don't enter in this range. Hope you got my point.
I have few questions:
1.) Do you follow only volume price action ?
2.) What if i squared off my position now in NF , will it be done in pre open market tomorrow ?
3.) how important is Gap up and gap down in intraday trading ( margin and futures ) ?
1. Yes. Only and Only Price and Volume. But its in various forms. Eod Price in Bar, renko, line, kagi & point and figure and all with volume.
2. No, you can't. Pre Open is only for cash segment.
3. Gap is one of the most imp signal on chart. It can be played many ways. Simple is if there is small gap then chances of filling are yes or no. Depend on gap formed why and on which zone. If gap is too big then it can be played in the short direction as soon as price start moving towards filling gap with stop loss at the other side of price.
Thanks for your kind words.
Regards
Strategic Investments
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