Natural Gas,21.02.2023

Aggiornato

Publishing herewith my idea about Natural gas using day time frame

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continue following price lines

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If u r looking for direction, target or stoploss, sorry.
I am a pattern trader , a day trader, even hv my opinion about a particular direction but always tries to keep myself unbiased, take my cue from opening price ,follow my price lines , if price opened above the line, consider it as a support and above one as resistance and vice versa
Also gives importance to Inside candles, dozi, moving averages, Bollinger and RSI in higher time frames mostly 4 hr and above,
“---" lines shows inside candle range.
uses - 2 shades of green for day ranges.
2 shades of yellow for 4 hr ranges, in index 2, 4hr candles ok, but for 24X, it is not possible to give 4 hr range every time
2 shades for blue for weekly line
Light yellow shows my extreme range.
Other colours for higher time frame

In case price crosses these range go with it but cautiously, at the end of day price mostly honours the range, price mostly follows the range either green to green or yellow to yellow,

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on extreme day price could move to weekly range or monthly range already provided in weekly chart, will give monthly range from start of next month

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caution needed

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"mind section" updated graphic

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if I am buying/selling stocks- I used to do this in delivery not in "MIS" so while buying a stock, I use to put a sell order a few paise/rupees below the ordered price depending on stock price in MIS
as I follow my charts, after a good analysis decides direction and entry point, but it may happen that the price takes some time while moving up or there may be stoploss hunting
so, if price moves down, my sell order activates in "MIS" , means my both orders running simultaneously, my loss is only the price difference in both order

there are 3 possibilities now
1. price start moving up- than I exist from my sell order and continues with buy order even add some more quantity as price is again breaking my level now there is better possibility that price will start upward journey after a retesting
2. price is moving in a range - I have option to wait for the price movement when price breaks out, close my sell position
3. my direction was wrong- so I can close my buy order and go with my sell order, and even add some more quantity in sell order

in trading I have many lines on my charts which works as resistance and support so there is possibility that after reaching my resistance level there may be a pull back or retracement in 5m/15m time frame
here, I use my sell order as a "profit saver", I apply sell order at that level and when price again starts moving up after reaching support, I closes my sell order, that's way I earn something in retracement also
and if possible, add fresh order at lower price
i use to trail my sell/or buy order as per the condition

this is the best way of averaging, and I am never in any tension about price movement whatever happens, I am not losing my investment, well difference of my buy order price and sell order price is my insurance cost
even with completely wrong decision I always have an opportunity to make some profit from losing trade

Not good in English but trying to put my way of hedging because to become a successful trader we must save our capital, in stock market it is not capital which earn you profit, it is your profit which help you earn handsomely. If we are on losing side
it effects our psychology most and we are not able to hold our winning trade or sticks to our losing trade or we are not able to book our profit at the right time hoping for bigger gain to cover loss as soon as possible. in low score games even strong teams
can't defend the target.

This method is applicable in F&O, Currency, Commodity also but in F&O selling requires a big margin might not be possible for all. so we can put a sell order one strike down, it works nicely from Friday to Tuesday as there not
much decay in premium, your day loss would be around 500 Rs if u put sell order 10 rs back in below strike for a lot and not find a support in whole day from where price is moving 10 points in reverse direction

conversely, buy order could be placed as a hedge in downward movement

Hope this will help u in your trading, and you will become a successful trader.

Nota

2 different demat accounts can be used for this purpose

omvats1

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