Dear Friends,
I have been learning trading lessons on this forum for the last 1 and a half months.
I decided to start Day Trading with Pivot Points and MACD indicator.
I am starting with a initial capital of Rs.5,000/-.
I have an account with indiabulls and hence am going to use it for trading.
I prefer to use 1 min chart. MACD indicator does not show up until 10:30 in my indiabulls software as there is no backfill facility. So, my trading starts after that only. (I attach intraday chart everyday for easy viewing).
Strategy is very simple as many of you already know.
Draw Pivot Point, S1,S2,S3,R1,R2,R3 lines on the chart. (Thanks to Radha55 for making me to understand Pivots effectively).
Check as the line approaches any of the above line to cross over.
If the price is approaching the line from below, ensure that the MACD is already crossed up. Then take a buy position. (Thanks to many on Technical Analysis Thread for making me to understand MACD).
For sell position reverse is the case.
Exit whenever the price reached your target ie. 0.25 ps to 0.75 ps whichever u feel comfortable.
Book loss only when the price triggers STOP LOSS but not on reversal of MACD.
Position size will be my capital in the account * 10 times leverege.
Target is anywhere between 0.25 ps to 0.75 ps.
Stop Loss is fixed at 0.50 ps.
I am selecting a stock which is priced at Rs.200/- or below and have good volumes.
For example, Hindalco, Ambuja Cem, Idea, Sail.
I am starting the trade from tomorrow. Let us see how my trading account will grow (or diminish).
My request to all friends is not to trade with actual money based on this strategy. You might fall into heavy losses. About me, no worries even if i loose my Rs.5,000/-
thanks
I have been learning trading lessons on this forum for the last 1 and a half months.
I decided to start Day Trading with Pivot Points and MACD indicator.
I am starting with a initial capital of Rs.5,000/-.
I have an account with indiabulls and hence am going to use it for trading.
I prefer to use 1 min chart. MACD indicator does not show up until 10:30 in my indiabulls software as there is no backfill facility. So, my trading starts after that only. (I attach intraday chart everyday for easy viewing).
Strategy is very simple as many of you already know.
Draw Pivot Point, S1,S2,S3,R1,R2,R3 lines on the chart. (Thanks to Radha55 for making me to understand Pivots effectively).
Check as the line approaches any of the above line to cross over.
If the price is approaching the line from below, ensure that the MACD is already crossed up. Then take a buy position. (Thanks to many on Technical Analysis Thread for making me to understand MACD).
For sell position reverse is the case.
Exit whenever the price reached your target ie. 0.25 ps to 0.75 ps whichever u feel comfortable.
Book loss only when the price triggers STOP LOSS but not on reversal of MACD.
Position size will be my capital in the account * 10 times leverege.
Target is anywhere between 0.25 ps to 0.75 ps.
Stop Loss is fixed at 0.50 ps.
I am selecting a stock which is priced at Rs.200/- or below and have good volumes.
For example, Hindalco, Ambuja Cem, Idea, Sail.
I am starting the trade from tomorrow. Let us see how my trading account will grow (or diminish).
My request to all friends is not to trade with actual money based on this strategy. You might fall into heavy losses. About me, no worries even if i loose my Rs.5,000/-
thanks
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