What are some hidden tricks to make consistent profits in Indian stock market?
TRADINGFEATURED
"You can greatly increase your win rate percentage by tracking market levels as well as your trade setups"
In the years, I have been trading here are 5 things I have learned which can help you to make consistent profits:
There is no indicator it is profitable by itself. What determines if it's profitable is how you can trade it. Find indicators that work for you. Too many people chase a perfect indicator. That doesn’t exist. I suggest finding a few and sticking to learning just them.
Watching a big support or resistance? So is the entire market. These levels lead to high chances of shakeouts. You identify a double top for example on the stock. The whole market does also. When you get obvious levels like this, you will notice that they get shaken out almost every time. What can you do? Wait for the reclaim of that level for confirmation.
You must get a look at the stock on longer time frames (Daily, weekly) and not just on short-term time frames. The multi-timeframe confirmation gives you a better trade setup.
You can greatly increase your win rate percentage by tracking market levels as well as your trade setups. Tracking the markets is essential when you are trading. The stocks you are trading make up an index. If we get a bounce on the market, your stock is likely to bounce. Identify key market levels and watch for confirmation and then go into taking the setups you had like off of these levels.
There aren’t people hunting your stops. You just place your stops at obvious levels the market sees such as whole numbers. Too many people get their stop losses hit because they place it at obvious levels. The market makers know that this is where a lot of orders are.
Credit: Quora