Monday, 17 July 2017

Nifty Future 17072017


It opened full gap up and traded in a narrow range.  In afternoon it did break out of this narrow range but lacked momentum and traded in another narrow range.

I have always believed in following the markets and doing what markets want us to do.  I cannot make myself handicap by trading Nifty alone.  As a full time trader I cannot depend on trading only one instrument for my living.  If Nifty does not give a good opportunity to trade why should I blame the Nifty?  Rather I should try to find other trade opportunities elsewhere.  Stocks are providing plenty of setups everyday and very good trade opportunities.

Today I traded in stocks like TECHM and TCS in morning session and HCLTECH in late afternoon which made me more than Rs. 9000 per lot.  If I had decided to trade Nifty alone and never explored stock trading possibility like this, I probably would have ended the day without earning a penny.

If you want to excel in trading, never depend on one or two trading instruments.  You have to have plenty of choices to trade.

5 comments:

  1. As price action trader
    How are you able to scan list of instrument for setup ?

    ReplyDelete
    Replies
    1. Gagan

      I have roughly 50 stocks in my list which I track for potential setups. I keep glancing at the charts until I find my setup to trade.

      With little bit of practice, it's possible like that.

      URD

      Delete
  2. "If you want to excel in trading, never depend on one or two trading instruments. You have to have plenty of choices to trade." NICE WORDS sir

    ReplyDelete
  3. URD,

    Thank you for igniting newer ideas to us timely.. some push is required for lazy folks like me :P

    I just added Infy, ICICI, Reliance, Tata Motors and ITC. Being heavy weights from their respective industries.. i believe one of them give good move while distribution going on, which keep nifty in narrow range. Will see how it goes.

    ReplyDelete
  4. URD,
    nice ways ...
    :-) Zen

    ReplyDelete