I have traded Bafinance 100 quantity last week .
Here is the trade result:
I blurred other columns as those expenses includes all equity trading in this period.
Plan for next week;
1. Increase position size
2. I will take three trades one early morning 9:5 to 9:45, 11 AM - 1PM, 2PM to 2;45 PM
High of January'20 4923
Low of May'20 1723
50% 3356
Bajfinace closed below 50% in October
Price is near median of 10 days Donchian channel
RSI(14) 48.35
ADX 12.2
MACD D below zero line
30th Oct High 3389 and low 3255
Bajfinance is consolidating in daily TF . It is forming lower high and higher low structure. Normally, brake out in any direction can give a big movement.
However OI analysis shows short build up.
Stock is trading close to 200 DEMA . If stock closes below 200 EMA with volume , stock can be shorted for a target 3170
ATR of Bajfinance is 100.
Trade plan for 2nd Nov - Quick scalping of 10/12 points in 2 min TF.
1 Will use Nimblr multi timeframe analysis for scalping. As long term trend is negative. Will short the Bajfinance future whenever CCI 8 in 5 min TF goes above 150.
2. I will trade close to refer 20 MA and 200 MA
3. Will buy if 3 hour and 40 minute trend become positive together.
I have decided to start a new experiment to trade one equity stock daily. I am starting this thread to check can I earn Rs. 2000 daily from stock market by trading one stock daily.
Trading Rules for daily trading of a single stock
Total account margin - 1 lakh
Max trade risk : 5% of account balance i.e. 5k
Total Risk per day 10%
Experiment will terminate if loose 50% of my account.
Instrument : Bajfinance Future
Lot size 250
Margin required for one lot covered order - Rs. 50250
Fixed SL - Rs. 5000 i.e. 20 points
( Fixed SL will be entered in system to avoid any sudden movement)
SL will be moved to cost once trade earns at east 10 point.
Brokerage and cost calculation at zerodha
For 20 point SL, my account will be reduced by Rs. 5184
Trading single lot in future is cheaper than trading in cash as margin requirement will be around 1 lakh and points to brake-even will be 1.73
I will not use synthetic future as I am trading with single lot and intraday.
I will avoid options as sometimes squaring off options becomes difficult.
