1218 Todays intraday pick
Updated
Trade Thesis
a) Triangle breakout
b) Weekly high breakout possibility
c) volume accumulation
d) vwap breakout
e) channel support
f) Yesterday, stock has closed higher despite overall market is lower; indicates the bullishness strength.
g) SL Compulsory
h) Only for intraday and any big gap up or gap down invalidates the trade set up structure.
Trading mindset requirements
a) Trading professional requires deep-state discipline and need to be disciple of discipline.
what to do be discipline in trading: 1.Develop a trading plan and stick to your plan; Avoid impulsive emotional decisions.
2.Develop consistency by repeating same strategy without any deviation from the rules.
b) Patience: wait for the entry criteria for selected trade set-up. Dont jump blindly into the trade as every movement is market is not ideal for trading. Avoid over trading.
c) Emotional control: Observe your emotions, while taking trading decision, as most of the entry happens because of emotions (Dont buy and trade your emotions). Recognize your fear and greed as these has negative influence in decision making during trading. Constant check of your emotions are required for better results. Accept the losses and is the part of trading business and focus on next opportunities.
d) Focus and concentration: Intraday requires constant attention to the market and dont react, but respond to the change market conditions. Minimize the distraction to allow the focus and attention to the trades.
e) Adaptability: Willing to adjust your strategies based on market behavior. Flexibility is required as any sudden news impose your attention to review and revise your trading decisions.
f) Risk Management: Protect your capital with Stop loss and dont take risk more than 1% on total capital. Hence position sizing is crucial to avoid significant drawdowns.
g) Analytical skills like Technical analysis and data interpretation (News, financial indicators) is very important to make trading decision. Develop chart reading skills through indicators, patterns to take informed decisions.
h) Build your confidence through thorough research and back testing and believe your analysis. Confidence and conviction grows with experience. Hence build experience by taking small trade to develop confidence and conviction over next few years.
i) Set realistic goals and establish daily, weekly and monthly reachable targets. Track your progress and focus on process and not the outcome.
j) Take regular breaks and self-care during trading and helps to recharge your mental power. Maintain work-life balance; Ensure the trading should not impact the other aspects of other aspects of life.
a) Triangle breakout
b) Weekly high breakout possibility
c) volume accumulation
d) vwap breakout
e) channel support
f) Yesterday, stock has closed higher despite overall market is lower; indicates the bullishness strength.
g) SL Compulsory
h) Only for intraday and any big gap up or gap down invalidates the trade set up structure.
Trading mindset requirements
a) Trading professional requires deep-state discipline and need to be disciple of discipline.
what to do be discipline in trading: 1.Develop a trading plan and stick to your plan; Avoid impulsive emotional decisions.
2.Develop consistency by repeating same strategy without any deviation from the rules.
b) Patience: wait for the entry criteria for selected trade set-up. Dont jump blindly into the trade as every movement is market is not ideal for trading. Avoid over trading.
c) Emotional control: Observe your emotions, while taking trading decision, as most of the entry happens because of emotions (Dont buy and trade your emotions). Recognize your fear and greed as these has negative influence in decision making during trading. Constant check of your emotions are required for better results. Accept the losses and is the part of trading business and focus on next opportunities.
d) Focus and concentration: Intraday requires constant attention to the market and dont react, but respond to the change market conditions. Minimize the distraction to allow the focus and attention to the trades.
e) Adaptability: Willing to adjust your strategies based on market behavior. Flexibility is required as any sudden news impose your attention to review and revise your trading decisions.
f) Risk Management: Protect your capital with Stop loss and dont take risk more than 1% on total capital. Hence position sizing is crucial to avoid significant drawdowns.
g) Analytical skills like Technical analysis and data interpretation (News, financial indicators) is very important to make trading decision. Develop chart reading skills through indicators, patterns to take informed decisions.
h) Build your confidence through thorough research and back testing and believe your analysis. Confidence and conviction grows with experience. Hence build experience by taking small trade to develop confidence and conviction over next few years.
i) Set realistic goals and establish daily, weekly and monthly reachable targets. Track your progress and focus on process and not the outcome.
j) Take regular breaks and self-care during trading and helps to recharge your mental power. Maintain work-life balance; Ensure the trading should not impact the other aspects of other aspects of life.
Trade active
world market is not inducing for bull market now
better avoid all intraday trades today.
Order cancelled
Major indices is in bearish mode with gap down
skip this trade for intraday today
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