Is it for everyone?
👉Scalping is a trading strategy in which traders profit off small price changes for a stock or index.
👉Scalping Relies solely on price action or Technical analysis.
👉 Only Intraday immediate data is of concern.
💥💥 Banknifty Intraday Scalping Strategy 💥💥
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Here's A Small 🧵
Is it for everyone?
👉Scalping is a trading strategy in which traders profit off small price changes for a stock or index.
👉Scalping Relies solely on price action or Technical analysis.
👉 Only Intraday immediate data is of concern.
Ability to take quick decisions without hesitation and not questioning their decisions once they have been made.
👉So first determine whether this style is suitable for you.
Rule:
We will look for buy trades
When price is above VWAP
And look for only sell trades
When price is below VWAP
If you follow this rule,
Your 50-60% wrong trades will go away out of the window.
RSI shows patterns in momentum which may or may not be seen in price.
In this method
overbought,
oversold or divergence on RSI
Not needed.
Rule 2
RSI (11) should show the same congestion pattern shown by the price
Price generally congests before a fast move.
Try to identify this congestion on price,
See whether the same congestion is shown by RSI
And trade the breakout.
Think of a spring getting coiled.
This pattern takes at least 10 bars to complete (1 min time frame),
The more the better.
None of the bars should close below the VWAP.
A low tag is okay.
Ko
Whenever the same triangle pattern happens at both Banknifty Future price and RSI.
Wait for an upside breakout.
Buy at breakout
Previous swing low will be your Stop loss.
Red dot line in the picture.
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1/ Here’s a list of conversational frameworks I’ve picked up that have been helpful.
Please add your own.
2/ The Magic Question: "What would need to be true for you
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Please add your own.
2/ The Magic Question: "What would need to be true for you
1/\u201cWhat would need to be true for you to\u2026.X\u201d
— Erik Torenberg (@eriktorenberg) December 4, 2018
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody: https://t.co/Yo6jHbSit9
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
