Some Basic:
I am day trader,
What I do:
What I do not do:
First I look for any important news for trading and open trade accordingly.
I sit trading at 1.00-3.00 PM, 6.00-9.00PM
I use 1 hr chart for determination of trend, 15 min chart for entry point.
I draw trend line in 1 hrs chart, It is the major trend of the day.I draw trend channel in 1 hrs chart.
Then I go for drawing tren line in 15 min, It is the minor trend of the day.
If these goes confused I use 4hrs chart, 1 day chart for major trend.
First,
Trend line break strategy:
I see whethether price breaks the trend, 15 min, 1 hrs, put buy and sell accordingly
I never put overtrade in a day...... its harmfull
I never put frequent order......Its destroy the trade.
I use 3% of my capital for each trade, put stoploss in every trade.
Indicators I use:
BB(12,2)
MACD
MA(200ema)
stochastic (14,3,3)
Trend:
15 min chart:
BB---- Upward, MACD above zero(It confirms the trend)
price above in 200SMA
Stochastic cross the oversold range.
So trend is up, If 1 hrs trend is also up go for Buy,
If 1hrs chart is downtrend, 15 min chart trend is up,
So main trend is down, the up trend will retrace up to 61.8% of main wave
It should be confirmed by stochastic and Candlesticks.
Trend in 1 hrs chart:
BB,MACD
Stochastic
MA,
Always use both leading and lagging indicator
To see extension, use fibbonacci extension.
I am day trader,
What I do:
What I do not do:
First I look for any important news for trading and open trade accordingly.
I sit trading at 1.00-3.00 PM, 6.00-9.00PM
I use 1 hr chart for determination of trend, 15 min chart for entry point.
I draw trend line in 1 hrs chart, It is the major trend of the day.I draw trend channel in 1 hrs chart.
Then I go for drawing tren line in 15 min, It is the minor trend of the day.
If these goes confused I use 4hrs chart, 1 day chart for major trend.
First,
Trend line break strategy:
I see whethether price breaks the trend, 15 min, 1 hrs, put buy and sell accordingly
I never put overtrade in a day...... its harmfull
I never put frequent order......Its destroy the trade.
I use 3% of my capital for each trade, put stoploss in every trade.
Indicators I use:
BB(12,2)
MACD
MA(200ema)
stochastic (14,3,3)
Trend:
15 min chart:
BB---- Upward, MACD above zero(It confirms the trend)
price above in 200SMA
Stochastic cross the oversold range.
So trend is up, If 1 hrs trend is also up go for Buy,
If 1hrs chart is downtrend, 15 min chart trend is up,
So main trend is down, the up trend will retrace up to 61.8% of main wave
It should be confirmed by stochastic and Candlesticks.
Trend in 1 hrs chart:
BB,MACD
Stochastic
MA,
Always use both leading and lagging indicator
To see extension, use fibbonacci extension.
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