1. Trading Lessons
I have published the first two lessons on intraday trading
1. Opening Range Breakout Trading System which is one of the fundamental and most successful trading system day traders should be aware of.
2. Intraday Trading System based on Simplified Technical Analysis.
Following these trading systems religiously will improve success rates dramatically.
Please refer to the Day Trading Course link on home page.
Other Trading Lessons are at the moment through live examples. Please click on the category Trading Lessons and you will get plenty of practical tips.
I will soon be publishing a full course covering simplified technical analysis and my trading strategies.
2. Pre-Market Analysis
A good and thorough preparation is required before the start of trading day in order to succeed in the market. At least 15-30 minutes of preparation per stock is required to day trade it the next day. Tracking needs to be done on daily charts, weekly charts, support- resistance levels, stock specific news, sector news, any events in the near future that could impact the sector/stock.
In general, analysis of domestic and global markets – Asia, Europe and US and potential impact on next day needs to be carried out. Ideally, if the analysis is done after US market close, it will yield better results.
I do the above analysis for all the stocks that I cover in pre-market calls. You can trade based on the pre-market calls in combination with charts. But not blindly based on levels.
Always trade on 2 lots (in futures) and book 1 lot when you see profit.
3. Day’s trades
I trade on most of the recommendations given in my pre-market calls. At the end of the day, I publish my trades with the charts. Learn these trades thoroughly to understand my entry and exit points and trading style. I do not use complex technical indicators or trading software, just few indicators and support-resistance levels. Those who track my trades regularly know that my trades have very high levels of accuracy and no. of trades are limited to 3-4 a day. My objective is to take money out of the table every day even if it is small.
4. Trading Videos
Videos of selected trade to give the readers a real feel of the live market and the decision making process. In the videos, I cover important concepts of partial profit booking, revising SLs, identifying trends and using technical indicators. Whenever time permits, I will upload real trade videos.
5. Real time alerts
Very limited though many of my readers are requesting me to provide real time trading ideas. My objective is not to provide stock tips, but to help readers trade on their own based on guidance from my pre-market calls and real time charts. But wherever possible, I try to reply to questions from traders on a real time basis. You may post your question as comment on my daily posts and I will reply as soon as I can.
5. Answer to your queries
I try to answer your queries for intraday, short term, long term positions based on my time availability.You may post your question as comment on my daily posts and I will reply as soon as I can.
Please let me know if you have any suggestions to improve the content. My objective is to share my knowledge and experience to help everyone to come out winning in their trades. Please drop a comment if you have any questions, I will respond.
15 comments:
Hello sir, where i can get realtime charts on web?
Hi, for real time charts, you can check if your broker is providing one. If not you will get close to real time charts free from google finance. You can create a portfolio there and watch the charts of your favorite stocks. www.google.com/finance. You will then need to customize the charts to add your indicators MACD, RSI, SSTO and 5, 20,50 EMAs. If you need any help, let me know.
hey i want to start trading and i am ready to invest in the market after few weeks of self learning process through websites like yahoo.finance and rediff finance and i've also watched some international websites. i do know about international trader guru Timothy Sykes and i am really impressed by his technique and results produced by him. i have gained some experience in trading and has virtually gained thousands of rupees last week. on this Monday i gained about 1700rs in dabur ltd. but i am still not sure about trading because i am making thousands of rupees daily and i think something is wrong. i am sure your suggestion will do a lot of positive business for me, before i step into this trading. and of course i am interested only in intraday.
Hi, first and foremost, you need to have a basic understanding of Technical Analysis. Please read introduction to know the topics. Trading without knowledge of Technical Analysis is like driving without knowing the driving rules. Secondly, experience which you can gain through a coach and paper trading (virtual trading). Objective of my website is to act as coach. You can use all the resources available here, especially how I use my own levels and trade during the day. You need to do paper trading for at least 12 weeks (to cover all types of market) with at least 200-250 trades. Then you can start trading in real.
For making money in intraday, you should follow simple
technical analysis, simple trading system and human psychology. Profits will follow. At the end of the day you will be your own analyst !!
Thanks for your valuable reply. you are right, i should spend some more time in paper trading. but it is like, i think more than two months already, and i am tired of making paper profits. some how i have collected some money this week and i want to just kick off! i will go through your trading techniques this whole night and this will add to my basic knowledge about trading.
Wish you good luck. Very important difference between paper trade and real trades - No emotion in paper trades, emotions play a big role in real trades !! If you need any help drop a note to me.
please make me aware about these emotions so that i can get myself emotionally prepared for the trading.
Hi Alok, how is your trading progressing. Do you find my posts here useful. Thanks for any feedback.
can we trade b/o method in nifty ?
if yes then how ?
Hi, Yes, the same Opening Range Breakout can be used for trading in Nifty also. But trading in Nifty is not easy since very easily Nifty fluctuates 10-20 points on either sides. Todays market is a good example of volatile day. Stocks do not fluctuate that much if they are trending even with fluctuation of Nifty ( See Maruti today) If you wish to trade ORB in Nifty, Follow all the rules. While trading in Nifty, it is important to trade in multiple lots. First lot should be booked at 10 points profit and remaining lots may be trailed in the direction of your trade to maximise the profits.
Thanks a lot |
is there any method or how to identify stcok is ORB or we need to track stock like sbi,lt ,axis,ongc etc .....?
We have to create a watchlist with the pivotal stocks -Reliance, SBI, ICICI, Axis etc and set price alerts in the trading terminal for Opening Range High and Low. Once the alert is triggered, look at the charts and verify if the entry conditions are met.
thanks lot friend , will revert u with my trading results asap, just confirm future or cash market?
Can trade in cash or future. Both will work.
Hey, thanks for the information. your post s are informative and useful.
Neueon Towers
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