Caution + Safe Harbour Statement

Investment in futures is very risky business. Request to readers is not to consider the information provided in this blog as investment advise. It is safe to do your own research before making any buying and selling in market.



I don't own responsibility for your actions.

Wednesday, February 3, 2010

What parameters to verify on daily basis if you are trading?

Have you ever thought what parameters need to be checked on dialy basis if you are a trader?

Following information can be verified everyday.
1. Before Market Hours
    a) The first thing to verify is US Markets chart.
         http://ichart.finance.yahoo.com/z?s=^DJI&t=1d&q=c&l=on&z=l&p=e8,e26,b,p&a=r14,ss,v
         This chart will give idea on how the flow of sentiment is there in US markets.
         To get  clear picture one may have to spend little more than 10 mins watching how the bars are formed. This information will be available by 2:30 in the morning.
  
    b) Then verify http://sgxnifty.in/ SGXNifty opens around 7 AM India time. You can check it around 8:30 AM. Takes 5 mins.

    c) After this verify how asian markets are performing. By the time anybody cross checks SGXNifty they will get an Idea on how Asia is doing. But still going to http://finance.yahoo.com/ and verifying the stuff there is a better idea. This also can be done 5 to 10 mins to get a fair idea.

    d) After opening, generally our markets will get influed with US Futures. One can track US Futures http://money.cnn.com/data/premarket/ and http://money.cnn.com/data/afterhours/
        My observatoin is all world markets sing and dance to the tune of these parameters. Except the the fall and gain can be little more. This task need to be done every 1 hour if someone is a day trader during market hours.

   e) Around 12 PM and 1 AM, one would like to go and see what happens in Europe Markets. What influence those markets will have on Indian Markets. Again can be important for day traders.

   f) Finally after market closes, and one can take a break.

   g) After 6 PM http://icharts.in/ gets updated with EOD data, one can go an verify the charts for his stocks in this site. And after 7 PM, FII and DII will be uploaded on BSE and NSE. http://www.bseindia.com/histdata/categorywise_turnover.asp

   h) Similarly one can verify the delivery data of a particular stock, http://nseindia.com/content/equities/eq_scriphistdata.htm
       Checking on this data will increase our confidence on the stock we have selected.
      
   i) Actually there is no need to track US market at this time. But still you are curious to see, then just log on to http://finance.yahoo.com/ and see what is happening around.

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