1/ Know your type: First and foremost, understand whether you are a Scalper or Intraday trader or Swing trader or Positional Trader. Create an account in @tradingview

2/ Set the Time Frame (TF) of the Charts: • Scalper: the TF you would use would be in the range of 1- 5min • Intraday Trader: 5-15min TF • Swing Trader: Hourly to Daily • Positional Trader: Weekly

3/ Be aware of the trend at higher TF. No matter which type of trader you are, its important to know the trend at higher TF. Crucial to know whether its a buy on dip market or sell on rise market. In my outlook for the week for #BANKNIFTY & #NIFTY I cover multi TF analysis.

4/ Identify the major Demand & Supply Zone: • A supply zone is the price area where traders have the highest selling interest or potential. • A demand zone is the price area where the traders have the highest buying interest or potential.

5/ Find immediate supply and demand zone: Usually the erstwhile resistance/ supply zone becomes a support/demand zone & vice versa

6/ Importance of Volume: In @Tradingview you can add indicator as Volume • Above average and/or increasing trading volume can signal that traders are truly committed to a price move, where the price and volume lines are both increasing.

• Contrarily, below average and/or decreasing volume can signal a lack of enthusiasm, where volume is declining even as the price continues to move higher. •Volume acts as an additional confirmation. • BO or BD with volume is considered powerful.

7/ How to determine Entry point: Entry points in a trending market come after a short counter-trend move or a period of consolidation.

8/ Stop Loss (SL): • One can either place a defined percentage i.e. Lets say a stock trading at Rs. 250 a 10% SL translates to Rs. 25. • So if you are long on a stock at Rs. 250 the moment it hits Rs. 225 (250-25) you should be out of the trade.

• Another way of defining a SL is through charts, usually smaller TF traders would keep the SL as the low of the Breakout candle (for longs) • Positional Traders would keep the SL of the latest swing low (for longs) as their SL.

9/ Position Sizing & Risk Management: Check this link to calculate proper position sizing https://x.com/niki_poojary/sta...

10/ Trailing Stop Loss (TSL): • If your trading system has a 1:4 Risk Reward then trail to cost the moment the R:R is 1:1 and so and so forth • The other way is to maintain a TSL at a precise percentage below the market price (for longs) • Can also trail basis the candles

11/ When to nail down the profits?: • Firstly, one can sell into strength when the stock is moving in their favour and there are plenty of buyers • The second technique is selling into weakness. Initially the stock made a good run-up but is weakening now.

• Technique by Mark Minervini explained in his book Think & Trade like a Champion • Better to go for a combination of both wherein you book you anywhere between two thirds to three quarters of the holding by selling into strength and the balance keep trailing with tight SL.

• Remember, TSL & partial profit booking are very important for profit protection.

If you enjoyed this thread here's another one: https://x.com/niki_poojary/sta...

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