I am a price action trader, how do i decide which scrips to trade in? Pl guide. Thanks!

General
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Some of the things that come to my mind - range breakout, volume breakout, sharp reversals, and momentum play.

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Choose scrips which has good volume, from large cap and check last few years data etc

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As a price action trader, i believe that you should be looking at the list of 'Most Active' securities. The list can be obtained from the MOST ACTIVE SECURITIES link on NSE website. They would be having considerable good volume and volatility for price-action trading. 

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  1. always look for trending stocks - up or down trend through atleast 60 min or daily chart… the probability is 72% that they will continue in the same direction …

  2. avoid range bound stocks as their directional probalilty is 50% i.e. they may breakout either way … never jump onto a stock that breaks out from a range … have some patience and look for good follow through like breakout pullback or breakout test , failed failure to enter in the direction of the breakout…

  3. for 60 min or daily charts look for range breakout as mentioned by karthik… darvas boxes is a good way to see that …

  4. sharp reversals usually trap bulls/bears so look for follow through and then enter or else u will also get trapped out…

thats it i guess …

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Karunakaran is already a Price Action Trader, but does not know which stocks to trade :o :slight_smile:

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those are strategies, right? but to apply a strategy, i must first decide which scrips to trade in, my question is how do i select these scrips?

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Check this post, a goldmine if you are following price action: http://zerodha.com/z-connect/zerodha-60-day-challenge/winners/mr-consistent-returning-incredible-returns

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Undoubtedly Nithin, Madan’s interview was just stunning, and especially the QnA session. ‘Goldmine’ is an apt word for his interview, but unfortunately, he trades only Nifty and BN, so don’t think he’ll be able to help me with stock screening :slight_smile:

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things are more about fine tuning. true that i am a price action trader but still in doubts on the list of scrips i have in my list. thought there are many experts in this forum, so asked the question. one should never stop learning my friend :slight_smile: