Doing trade in SBIN only, for couple of years as pure INTRADAY using amibroker with some conventional tools.Followed all good procedures known to me.But I could not make any success ends up heavy loss.Does anybody has good indicator,oscillator or anything to overcome.please help
All the indicators and oscillators are good but have their own strengths and weaknesses.
Following are some suggestions
-Take a break.
-Go through some trading psychology, technical analysis, system development stuff.
-Back Test and Develop some good Positional/Swing Trading system.
-Practice this system on Virtual Stock Market software.
-Once making consistent profit, start trading this system real time.
-Do not Day Trade till you are consistently profitable with the position system and have a better understanding of the market.
This is what I have been suggesting to others as well. Browse this blog to know more about the above.
You have to elaborate why you loosing… is it because your indicator not giving good winning signals or is it you who is not being able to trade?
What is your risk to reward ratio?
What is the % of wins?
Most of the traders uses indicators and 95% of them looses money, so its not the indicator that makes you money its you.
Ive done an experiment and even with 80% of losses i was still up 10% coz my avg winning trade is 3.5 times bigger than my average loosing trade.
Just look at how you have been trading for the past two years figure out where you were doing wrong and where you were doing right then analyse whether you can improve your winning bets. If you still in doubt then give up. NO INDICATOR can make you money.
I believe that you trade in SBIN only and also study the overall market(indices). If not, u need to keep studying indices, banking group stocks etc. Just blindly following the buy/sell indicator on a particular scrip does not work. Don’t search for holy grail. Just believe urself on what you are trading and improve ur trading knowledge.