If you are ready to take a little effort, you can learn it
really fast.
I assume you have some basic knowledge.
First thing you have to do is selecting your time frame. If
you cant stand the Formula 1 speed of 1M chart select 3M or 5M.
Now decide how many points of Nifty you need to capture. If
it is 10 add another 5 points for commission and slippage. So you may need minimum
15 point move.
Next step is to open your historical chart. Mark all the 15
points or above moves on this chart. Note down or better mark on the chart the
following
1. Location from where the move started ( HOD, LOD. PDH
etc.}
2. Location where the move ended
3. Locations where the move paused
4. Notice and note down the pattern which triggered the move
(BOF, TST, BPB etc)
5. Mark where you could have entered with the least risk. With
a minimum RR of 1:1
6. Decide on your high probability patterns and high
probability locations
Do it at least on 100 charts. The more the better.
Now go live with Mini Nifty. Stick to your locations and
patterns. When in doubt stay out. Don’t chase. Maintain strict discipline. Slow
and steady will win the race.
Don’t worry if you cannot invent You can always do Reverse Engineering
