I use trading view for intraday charts.
As I trade intraday, I use the 5 min time frame.
My chart is simple with 20 sma plotted on it along with CPR(central pivot range)
Price > 20 sma & CPR indicates bullish trend for intraday & vice-versa
Thread : Trading Applications that I use on a daily basis🧵
1) After putting a detailed post on hardware & multi-monitor setup. Few asked for softwares I use for trading.
So I am listing softwares/apps which I find the most useful for trading & investing
I use trading view for intraday charts.
As I trade intraday, I use the 5 min time frame.
My chart is simple with 20 sma plotted on it along with CPR(central pivot range)
Price > 20 sma & CPR indicates bullish trend for intraday & vice-versa
As I majorly trade option premiums(short volatility or theta decay strategies)
I keep a track of combined premium of strangle using @iChartsIndia
Combined premium should be trending down & below VWAP to create a strangle
As I need to provide analysis on TV channel.
I need to analyse overall market breadth, futures data & option chain activitiy.
@quantsapp provides
Futures Data : Long Builtup/Short Builtup
Options Data : Max Call OI/ Put OI
Market Breadth : For overall sentiment
I used @SpiderSoftIn to scan momentum stocks for intraday.
Spider helps in identfiying :
stocks hitting 52 week high/ low
Stocks making day high/low
Stocks with large buying single orders
Helps in quick real time news.
Bloomberg is useful only if you trade mutliple markets & need access to various data quickly.
Bloomberg is an expensive software costing around 25 L per year.
One can skip bloomberg as cost is too high
I use Greeksoft for multi leg order execution. It allows you to punch 1000+ lots of strangles/ straddles as a single order.
One can put SL on combined premium, do order slicing & many more such things.
Needed only if you trade big qty multi leg option trades
Use an inhouse ranking system based on simple concepts of momentum,trend & derivatives data across time frames.
It is available only to IIFL members under our franchise(for free). To know more can check below :
https://t.co/wqzN2OtJYL
Opstra is useful in
-Creating option payoff
- Has historical result calendar with time
-Volatility Skew Analysis
a) @screener_in
Screener is useful in scanning stocks based on Fundamental parameters & also provides a quick overview of the company.
You can quickly find good companies based on fundamental parameters
@mystockedge is useful in
scanning bulk/ block deals
Checking top investor portfolios
Check company filings
IPO notes
Concall analysis
@drvijaymalik has built a great framework to analyse company in depth based on various fundamental parameters.
I personally use it to scan fundamental stocks.
More from Sourabh Sisodiya, CFA
Thread 🧵:
A Day in the Life of a Trader (A day in my Life)
1) I absolutely love my work❤️! In fact, I grew up dreaming to be a trader. So trading, to me, doesn’t feel like working (except when I lose😂).
It’s fascinating because it’s different every day.
#trading #life
2)7:30 AM : Alarm Rings
A typical week day for me begins at 7:30 AM.
I spend the next 30 minutes on my daily chores — get ready for office, grab a quick breakfast & have a hot cuppa coffee.
3) 8:00 AM : Leave for office
On my way to office, I check what happened at the Wallstreet overnight & how are Asian markets performing.
I then look for any macro news that may affect overnight positions
P.S: We are moving to a new bigger office & will share pics of that soon
4) 9 AM - Connect with Trade Room members
I connect with trade room members on zoom & share my plan for the day, stocks to keep in radar & how to play the index & which option strategies to execute
For more details about Online Trade Room you can check
https://t.co/WrQPxhABsE
5) 9:07 - Pre Opening session
I keenly observe the pre-opening to get a general sense of where the market is it likely to open. At 9:07 AM, the pre-opening prices are out. I make a note of stocks opening with a big gap up or gap down and keep them on my watchlist.
A Day in the Life of a Trader (A day in my Life)
1) I absolutely love my work❤️! In fact, I grew up dreaming to be a trader. So trading, to me, doesn’t feel like working (except when I lose😂).
It’s fascinating because it’s different every day.
#trading #life
2)7:30 AM : Alarm Rings
A typical week day for me begins at 7:30 AM.
I spend the next 30 minutes on my daily chores — get ready for office, grab a quick breakfast & have a hot cuppa coffee.
3) 8:00 AM : Leave for office
On my way to office, I check what happened at the Wallstreet overnight & how are Asian markets performing.
I then look for any macro news that may affect overnight positions
P.S: We are moving to a new bigger office & will share pics of that soon
4) 9 AM - Connect with Trade Room members
I connect with trade room members on zoom & share my plan for the day, stocks to keep in radar & how to play the index & which option strategies to execute
For more details about Online Trade Room you can check
https://t.co/WrQPxhABsE
5) 9:07 - Pre Opening session
I keenly observe the pre-opening to get a general sense of where the market is it likely to open. At 9:07 AM, the pre-opening prices are out. I make a note of stocks opening with a big gap up or gap down and keep them on my watchlist.
More from Screeners
I use 4 scanners:
1) Volatility, Volume & daily range compression scanner
2) Punch-Drunk-Love
3) GE Ratio - to track fundamentally strong stocks
4) Recently created one to track Power Play setups.
I get around 150-200 stocks daily & choose the ones with the most potential.
1) Volatility, Volume & daily range compression scanner
2) Punch-Drunk-Love
3) GE Ratio - to track fundamentally strong stocks
4) Recently created one to track Power Play setups.
I get around 150-200 stocks daily & choose the ones with the most potential.
Sir, How do u find a set up - Do you track chart of each stock daily ? Or do u have filters , that lead you to a number of stocks , after which you scan them.
— AKASH GUPTA (@lockdownmurti) August 25, 2021
