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start from here :
http://content.icicidirect.com/learning/university.htm
Happy Reading .
On NSE site ,there is a NSE paathshala ,where you can log in and do dummy trading with dummy capital .
Try your strategies there after you read and understand it properly.Dont invest your money at all ,even if someone assures you high returns and on tips.You will burn your fingers ,if you dont understand it and do paper /dummy trading first .Good luck.
Regards
For break out downside
You can use SL-M orders to catch breakouts. Set SL-M sell order, few points, say X points below Nifty, such that in normal range movement this will not get hit. Only in breakout this trigger should hit, like Nifty moves drastically within 3 mins.
Set a target also with normal Limit buy order (with Y points gap from Nifty Y>X), such that first your SL-M order will hit and later your target will hit in case of breakout. Constantly revise X and Y values every 3 minutes, based on what Nifty value currently is.
This will work only if Nifty breaks out it will hit your stop loss trigger and sell few lots, if breakout continues your target buy order will hit and you would capture the profit.
In this method, you cannot simply place the order and leave, you need to monitor and revise the values, sitting in front of the computer every 3 mins or so. Just because, if Nifty moves slowly towards your first order, executes it and again moves upwards slowly, you will incur huge loss, when you come back and see that your target has not been executed. You always need to sit and revise the X and Y gaps based on what currently Nifty is. Maintaining this gap will ensure that only sudden movement will hit the orders not gradual movement.
3 mins is just an example, you need to find this number of minutes, X and Y based on your study.
For break out on upper side, just do the opposite.
Just be careful of whip-saws,
why do u want to catch breakouts?
the only way to make profit trading nifty intraday is to catch break outs.
why do u consider breakouts as the only profitable nifty trading? which r the other ways that hv failed for u?
i have traded with macd,indicator others etc when review back the chart they are suggesting only one thing that breakouts are better to capture points.
ok. Looking at the snapshots, selling at crossover of price below MA at 11.30 candle wud hv generated more profits. Also, buying on retrace to MA at 13.30candle wud hv generated more profits.
perfect entry is more important than capturing more points,if i enter whenever MA crossover occurs it will surely lead to whipsaw.
i don’t agree. There is nothing called perfect entry. whipsaws wud be thr everywhr.
look at the second snapshot.how few times MA crossover occured and gave false signals.have been associated with trading since past 7 years trading stock FNO…since the days of satyam computers scam,breakout work good with nifty fut…
@vikram
Wondering that you have been trading for 7 years, and you are asking how to capture Breakouts, only today!
Sounds fishy!
Astroguru i can understand what makes you fishy.you can read the topic without that question mark which habitually i added,and i failed to understand how QNA site pic uploading works initially.
in the 2nd snapshot, a proper signal has generated at 13:30candle. If the trade wud hv got in at 13:30candle, atleast stoploss at breakeven wud hv got hit as it was a false breakout at 14:00candle.
u hv got confused with MA crsovrs as whipsaws, since trading from 7yrs on 5mins chart , they r not.
FYI i was part-time trader since my college days thats apart.nothing offensive,
if MA crossover more signals daily with SL’S hit and loosing profits,but accorrding to breakout few signals with good profits.