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The best way to day-trade is the 2652 theory of day trading. Different people have different methods and ways of day trading. Some trade using charts, 5 min, 30 min, 10 min, some use MA, EMA, RSI, CCI, some also use many equations and formulas like PIVOT POINTS, woodies pivot, demark pivot points, camarilla equations, any many more things.

I have been trading the markets with all this and come to conclusion that trading market can be reffered as gentleman's gambling, you can earn from it definately provided u trade it with proper knowledge and a perfect plan and the main thing is that you must go in for small gains for n number of trades, which also can be reffered as scalping.

The most important things to track in day trading

  1. Previous days range (difference in days high and days low) the most important
  2. That days high and that days low at 9:15 A.M., after the start of markets

That's all, earlier I used to trade using all the things like ma, rsi, adx camarilla equations and all stuff but now I trade in a simple way using the days range. With my studies I have come to a conclusion that if a days range is of 85 points say for any stock say ONGC then it will have three values for the next days for me to trade (that calculation is done by me based on my studies).

Suppose the values I got are 36, 63, 92 then with this values I will trade for the next day

Say ONGC next day opens at 785 and by 9.15 am it is at 795 neither open or the present value of the stock is important to me ,the thing important to me is the high and low of the stock at 9.15. Now here comes three different cases which I will explain you in detail:
  1. When the difference between high and low ( range ) at 9.15 is less than the first value that is 36

    Suppose ONGC has high of 801 and a low of 779 with a range of 22 points < 36
    Then if the price goes bellows 801 - 36 = 765 it will definitely go down 0.5 percent more down to 761.2 and this will be my gains
    In simple words sell stop loss order at 765 with a buy order at 761.2
    Now at 9.15 if the price is at 795 it can go up also so if it goes then I have to take in account of low at 9.15. So if the rice goes above 779 + 36 = 815 then it will definately go up 0.5 percent up to 819.05
    In simple words stop loss buy at 815 and sell at 819.05
  1. If have both ur orders placed then the most important thing is that u must keep a watch on low and high of the stock. Suppose at 9.35 its at a low of 770 then u must modify ur stop loss buy order to 770 + 36 = 806 from 815 and sell order to 810 from 819.05. In this case your one order will be the same as the days high will be the same that is 801.
    If suppose at 9.35 the stock is at high of 805 then u must modify ur stop loss sell order to 805 - 36 = 769 from 765 and buy at 765.2 from 761.2 down 0.5 percent. The second order of urs will be the same as the low will be the same at 779.
    If u have any one side of ur order executed with a profit then u must cancel the other two orders. Suppose u have stop loss sell and a buy order triggered then u must cancel the other order of stop loss buy and sell order.
  2. When the difference between the high and the low at 9.15 is more than 36 and less than 63

    Suppose ONGC is at high of 825 and low of 770 at 9.15
    Then sell below 825 - 63 = 762 and buy at 758.2 down 0.5 percent
    Buy at 770 + 63 = 833 and sell at 837.15 up 0.5 percent
    Here also its important to keep a watch on the days high and low after 9.15 and as per the above example modify ur orders if needed. If u have any one side of ur order executed with a profit then u must cancel the other two orders. Suppose u have stop loss sell and a buy order triggered then u must cancel the other order of stop loss buy and sell order.
  3. When the difference between high and low at 9.15 if more than 63 and less than 92

    Suppose ONGC is at high of 840 and a low of 768 at 9.15 am
    Sell below 840 - 92 = 748 and buy at 744.3 down 0.5 percent
    Buy above 768 + 92 = 860 and sell at 864.3 up 0.5 percent.
    Same conditions apply as above methods.

Stock market for beginners

Elliott wave

  1. 2652
    The best way to day-trade is the 2652 theory of day trading.
    1. 2652 theory of trading
    2. High low trading
  2. Buy the company
    Stock market can be irrational in short term. Good companies can make temporary losses. But an investor should not get diverted by this.
  3. Contrarian investing
  4. Outperform the market
  5. Day trading guide
  6. Head and shoulders pattern
  7. News trade
  8. Rebate trade
    This is an equity trading style that uses ECN rebates as primary source of profit and revenue.
  9. Scalping trade
  10. Trade systems
  1. Elliott Wave principle
  2. Characteristics of Elliott Wave
    1. Characteristics of Impulse Waves
    2. Characteristics of Corrective Waves
  3. Elliott wave trader
    A few tips that can make the whole process of Elliott Wave trading a lot easier for you.
  4. Impulse Patterns
    1. Impulse Patterns in depth
    2. Profit Taking at the end of Impulse
      After every big rally there is profit booking, the profit money is re-invested into the portfolio, and then the market again starts to climb.
  5. Corrective Pattern
    1. Simple Correction
    2. Complex Correction
      Each segment composed of smaller waves.
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