All 3 legs are needed to make money in stock market..
NO CHANGE
1. EMOTION :Understand the opposition mind set.. ( We need to kill less intelligent trader ( emotionally out there and who has little funds )..
so stick to shorting, exit at 0.5% profit/loss or within 10 minutes whichever comes first otherwise we get stuck up there ( attachment comes ) u will be like other fellow who is emotionally trapped..
Steps to screen the stock:
Intraday:
1. Load SP and BP
2. Stocks with increase in volume and increase in OI..
3. Hourly Gainers/Losers which have formed the saucer formation.
4.Stocks breaking R1,S1 and other technical indicators like weeklyR1, weeklyS1 and otherstuff of Youtrader..
5. Stocks making new highs (near new highs/lows at 1.30 -preferably highs ) and new lows or highs at 2.30 - preferaly lows )
6. Preopen candidates.(top gainers and top volume candidates)
7. Stocks breaking YESTERDAY'S LOW at 10.30am and Stocks breaking YESTERDAY'S HIGH at 1.30am good movment candiates..(program in amibroker to screen the same )
8. Watch out stocks on news in CORPORATE ANNOUNCMENTS ..and enter based on LogicalTrader method..
9. Stocks with highest% of VWAP ( intraday) bases are good candidates for screening.. (Same way for step 7 we can use yesterday's VWAP instead of Low and High )
10. Screen in amibroker ( 5sma,10sma and 20sma ) calculate the average in the sequency, price-20-15-5 ( percentage change being smallest ) so that we catch the move at the closest junction of joining..
NO CHANGE
Increase/decrese - with profit/loss/withdrawal/deposit
2. Money Management FIXED : Risk : 2% rule per trade and 6% rule for overall account per day.. irrespective of capital size..
Increase/decrese - with profit/loss/withdrawal/deposit
3. Method.. : FIXED
Vbar = TimeNum() >= 123000 AND TimeNum() < 123003;
Plot(Vbar,"",colorDarkGrey,styleHistogram|styleDots|styleOwnScale);
Vbar = TimeNum() >= 103000 AND TimeNum() < 103003;
Plot(Vbar,"",colorDarkGrey,styleHistogram|styleDots|styleOwnScale);
Vbar = TimeNum() >= 133000 AND TimeNum() < 133003;
Plot(Vbar,"",colorDarkGrey,styleHistogram|styleDots|styleOwnScale);
Vbar = TimeNum() >= 143000 AND TimeNum() < 143003;
Plot(Vbar,"",colorDarkGrey,styleHistogram|styleDots|styleOwnScale);
Also
_SECTION_BEGIN("camarilla levels");
//---- pivot points
DayH = TimeFrameGetPrice("H", 3600, -1); // yesterdays high
DayL = TimeFrameGetPrice("L", 3600, -1); // low
DayC = TimeFrameGetPrice("C", 3600, -1); // close
DayO = TimeFrameGetPrice("O", 3600); // current day open
// camarilla pivots
if ( True )
{
R = DayH - DayL; // range
RA =abs(((DayH+DayL)/2) -( (DayH + DayL + DayC ) / 3)) ;
//PP1 = O+R-Piv;
//PP2 = O-R+Piv;
R4 = (R * 1.1/2)+DayO;
R3 = (R * 1.1/4)+DayO;
S3 = DayO-(R * 1.1/4);
S4 = DayO- (R * 1.1/2);
P1 = DayO+RA;
P2= DayO-RA;
}
//Plot(R4, "",colorGreen,styleDots+styleNoLine);
//Plot(S4, "",colorDarkBlue,styleDots+styleNoLine);
Plot(P1, "",colorGreen,styleLine);
Plot(P2, "",colorDarkBlue,styleLine);
Method is being LOGICAL TRADER METHODOLOGY, applied every hour.. Let the stock be bullish or bearish, doesn't matter.. Method is fixed as per logical trader and trading is based on hourly.. Even in hourly, the Open range will decide stop loss and entry ( The SL being small, is a +VE EDGE )...
Plot 3 moving averages at the bottom, watchout for the crossover ( of 5,10 and 20 each being on 1 min chart ) all simple moving average.
Commentry:
Avoid EOD analysis.. keep these strategies in mind, will be useful in future or positional analysis.. or theory.. but why we want all these when we have GOT WHAT WE WANT..
How about developing triple moving average crossover ( 5,10,20 and screening the same )..
EOD:
1. Based on VWAP of both Stocks and futures, find out buying candidates and selling candidates. Avoid the candidates which are buying in one and selling in other.. Also, avoid the candidates which have huge OI change and also the ones which are adla badli candiates..; they are reversal counters good for positional option buying but not makes sense of intraday..
and use INTRADAY strategies preferably on these stocks and if buy/sell comes to buy/sell of EOD, probability and movement is better.
