What all important reports to study daily while preparing yourself for next day trading considering if I trade in Equity cash, equity F&O. Your precious inputs are requested.
Thanks,
Amit
News for the day Advance Decline ratio, volume gainers, top losers and gainers, Nifty options chart and individual option data.
DII and FII buying figures. And Futures OI.
This is what I follow.
I select five stocks and set some Alerts and relax.
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can you please inform us also which alerts websites services or platforms do you use and which are reliable and which works on real time data.
I use Just Pi. Nothing else. I don’t like technical analysis. Use more fundamental Analysis.
I have the following in watch list. Mostly India focussed consumption stocks and PSU companies.
AMARAJABAT
ASIANPAINT
BRITANNIA
BEL
BEML
COALINDIA
CONCOR
DABUR
ENGINERSIN
HEROMOTOCO
LICHSGFIN
MARICO
MARUTI
NTPC
PFC
POWERGRID
RECLTD
I follow these stocks regularly and use options data for support and resistance also check Nifty Options chart for overall sentiment.
I don’t set stop loss limit.
I take multi-day long positions. My target is 5k if that is achieved I sqoff even though intraday.
Money management. When India Vix goes above 14, I reduce my positions size increase cash levels.
I stopped trading in options. Doing equity positional and Futures. Trading only in NSE.
In my view setting stop loss limit is the major reason for losses.
This above details are on Friday 17 Mar 2017 end of the day. On 20 Mar 2017 I sqoff CONCOR AND NTPC for 1800. No loss. If I set stop loss limit every day I lose some amount. I sqoff because of overall market sentiment is negative. Other positions still carried.
Once we are clear on trend then take appropriate decision to trade.
I set simple RSI alert if below 30 or above 70 then alert on five stocks for the day. Go long when RSI below 30. Buy dips and sell rallies.
If stock has already appreciated by more than 15% in the last 30 days then I usually don’t trade it.
I select the stocks which are fallen recently like Coalindia.
Trading in options was biggest loss.
I don’t listen to experts views on media. I read lot of news. I believe 20% transactions are manipulated and trade accordingly. I Do not trade on News. Media selectively brings news so stocks move accordingly. It is better to avoid stocks which are actively in limelight in media.
more capital gives me more stop loss limit which I don’t set.
Spends at least an hour at tradingqna every day answers few questions this gives me more knowledge.
I am doing business and know very well about balance sheet and financials of companies so go by fundamental analysis.
Managing Fear is the major priority than screening for stocks and technical analysis.
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Sir,
Where can we check Nifty options chart?
which service do you use to set Alerts and how effective are the triggers?
I use Pi. I use RSI and some times EMA crossover also to alert. This is not to buy sell but raise attention. After the alert raised I see the chart and decide what to do.
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in my reply above i said I believe 20% manipulation in market.
an evidence is given below.
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Do you have any code for RSI? Thanks in advance.
SELL
RSI (CLOSE, 14) > 70
BUY
RSI(CLOSE,14) < 30
Thanks. Where do I need to add this? EA or alert? Sorry for the basic question. Thanks.
You should add it in Expert Advisor