Day trading without software

Amateurs and small traders are mostly attracted to day trading. Most of the traders do not have much many resourced like charting platforms, trading system or even PC or Laptop. Those peoples can use this simple but effective trick for NSE stocks day trading. Day trading is very risky type of trading and trading without risk management can wipe out your all capital so always trade with strict stop loss. To do successful Day trading without software, traders must follow given steps.

Day trading without software guide step by step

1.go to this link

http://www.nseindia.com/live_market/dynaContent/live_watch/equities_stock_watch.htm?cat=N

in which you can find nifty 50 stock watch by default like following one

2. Your trading timing must be 10 AM to 3 PM. At 10 AM most traders and financial institutions comes in markets so that volume and price actions will be best and around 3 PM most of the professional get out of the markets means market may become thin and volatile after that.

3. Focus on change percentage column and you can sort list by top gainers and top losers. After that, traders keep watch on middle section, where stocks are slightly in red or in green. NSE stock watch list rates are delayed so some adjustment is needed. those having own PC/Laptops with online trading terminal simply create Nifty 50 market watch on your trading terminal and follow same step given below.

4.If Nifty momentum is bullish then focus on stocks in green with minimal gains. and if nifty in red then focus on stocks in red with minimal loss. like on above list JINDALSTEL in red and ACC in green. when you choose stocks from list, choose it on number not on your sentiment or knowledge towards stock. key success of this strategy is to stay inert with your sentiment towards market and following the intraday trend and momentum only.

ENTRY RULE:

LTP and HIGH/LOW difference must not be more than 1-2%. Open=High means sell right away and Open= low means buy right away add-up winning chances.

Example- JINDALSTEL LTP is 280.8; it is trading in red with nifty in red. High was at 283.9.

Therefore, call will be sell JINDALSTEL at 281 with stop loss 284 for target 275.

Targets must be double of stop loss. If stop loss is 3 rupee then target will be 6 rupee away.

if nifty is green, pick will be ACC , LTP was 1390 , intraday low was 1371. so trade will be buy next 1386-1388 with stop loss below 1370 for target 1420 plus.

EXIT RULE:

At target or at stop loss or square off positions at 3 PM whatever rate it is.

TRADING RULE:

Use same capital rule to trade all calls it automatically increases your chances of winning.

Amateurs traders must trade only in nifty 50 stocks, it will automatically protect from high volatility and over trading. experienced traders can use nifty junior or nifty mid cap list which haves high volatile moves.

Daily “1-2 trades only” strategy is very useful.

Keep every trade record in writing with profit or loss and brokerage cost per trade.

PROFITABILITY:

With 1: 2 risk reward ratio you need only 50% accuracy to stay in profit. With time experience this ratio may go up to 1:3 means only 33%, accuracy is needed to stay in profit.

This trading style is almost like “random market trading” and experience with time and stocks will continues to increase profitable trades.

Before applying it on real capital, do it on paper trading to get idea and build trading patience.

Always remember, “Successful trading is very boring but joys always come after that in the form on money”.

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Updated: 06/06/2017 — 10:42 PM

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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