|
Basics of
“Traders Paradise”
“Traders Paradise”
with its support and resistance levels along with a commentary allow
you to generate your own trading calls using the levels as
benchmark. Therefore, use these levels to time your entry, exits and
stop losses. This table captures the trading ranges and the movement
in the desired direction.
Remember, Day-Trade
also requires faster initiation, tighter stop losses and quick
profit booking. Though, a clear line of action is provided in the
recommendations column of “Traders Paradise”, you may alter the
levels by using your own wisdom best suited for the day, because
given limits may come or may not come. If Day-Trade is your
interest and passion, you will be amazed at the high rate of success
of this product which is time-tested.
About commentary
and other measures
Strictly follow the
comments given in the recommendation column to choose your direction
of trade. Sometimes, due to unusual and illogical volatile
movements, trader is not able to enter into a trade at opening bell
though the exact entry level has already come and gone. In such
circumstances, trader must wait and watch the movement of the
subject stock closely before taking a position as stated
below:
· If a
long call opens above R1 and sustains, make an entry for the target
of R2 by increasing your stipulated stop-loss level. Because, when
stock’s price crosses R1 we expect an upward spurt in the price
unless it falls below the R1 again.
· If
Short call opens lower below S1 and stays there, take a short
position for the target of S2 by reducing your higher stop-loss
level. Because, when a stock’s price falls below S1 we expect the
price to continue to go down in the short term.
But, whenever, you are
able to enter at exact given entry point, you are on top of the
world. By strictly adhering to the given stop-loss, try to book
partial profit at R1 and rest at or near R2. It will be more
preferable and advisable to book a full profit at R1 simply to come
out of a trade because ultimately, this is a limited hour’s
day-trading.
| 
