Intraday Trading Method By Dheeraj Trivedi
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Before the method is posted, I would like your views on following. This is purely a learning session; please feel free to write about. You can give your views on.
- Can you identify the market sentiment for the day ? if yes how ?
- Can you predict the opening of European Market at around 1330 ? if yes how ?
- Did you notice the change in NIFTY values at around 1315 to 1330 Hrs (Pre Europe Opening) and after it opens up (1330 to 1400 Hrs). Is’nt it predictable ?
- Do you check the values of DOW future during our trading hours ?
- Have you ever observed the way European Market behaves once the American Market opens up at around 2000 Hrs.
- Have you ever noted down the value of American Market (DOW) when European Market closed at around 2230 Hrs ? Have you compared this value of the DOW to the closing value of the DOW ? What impact this difference will have ?
- Do you have a charting software which can be configured for EMAs and Stochastic ?
- What is better: Trading with the pre calculated levels or intraday live chart indications ?
- Do you understand the significance of Double Top, Previous Day closing value and major EOD Resistance and Support values?
- Do you see the option strike price (Call / Put) which have maximum open interest.
- Do you think it is wise to trade in the first 15-30 minutes of the day ?
This thread is being started to clear various trading concepts of beginners as well as moderately conversant members of this site. I am confident that if we understand above points and analyse them atleast we will be able to tackle the trading in a more informed way. Although technical analysis is a vast subject but If we focus on certain part of it we can surely… avoid loss making trades and maximize our profit making trades. The Trading Method which is extremely simple yet effective will be discussed at the end once all the interested participants are clear about importance of above points.
I request all the senior members also to participate and share their valuable feedback on above points so that all the friends can appreciate the importance of these.