Two parts of a stock trader must be in.
1. Intraday trading
2. Consistent income from swing trading
For intraday I use trend lines – support, resistance connecting HH’s (higher highs), HL’s(higher lows) and also demand/supply zones. Option chain data can be used for supplementing the decision.
Few rules I follow consistent income where I use 70% of my capital using cash market stock delivery in below swing trading and only 30% in intraday where there is more risk:
Same as intraday use the trendlines here as well including supply and demand zones. Market should have a scope of moving up which can be found out by using option chain resistance and support which should have a scope/room of going up. Futures wise need to check if there is long built up or not for buying of the stock. Cash market is best traded with a fixed stop loss which will invalidate your entry reason.
For Simple Swing trading easy way i do is for short term is with Supertrend with setting 10,2 on Daily timeframe for direction of stock and taking position on on lower time frame when it comes near a Supply or Demand zone with atleast 1:3 Risk Reward
For example sbi share(SBIN)
On Daily timeframe sbi is positive or bullish
Now
