Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -
Great system healthraj...
16-AUG 2012 END OF DAY UPDATE
This morning we started with a Pivot and the market was trading with a FLAG...
NIFTY: Started the day with a PIVOT HIGH of 5387 and the BUY LEVEL has come from 5387 to 5382... The PIVOT LOW was 5374 which has come down to 5362... 20 points profit
BANK NIFTY: Started the Day with PIVOT HIGH of 10530 and closed with Minor PIVOT HIGH of 10488. The Pivot LOW has come down from 10514 to 10456. 100 points Profit
NOW that you folks learnt the basic method of PIVOT trading. Hope it is easy to trade with PIVOTS using RENKO charts and moreover technically today it was good day to learn because of the FLAG formation....
ONE IMPORTANT RULE 1 of EXCEPTION TO TRADE WITH PIVOTS:
If on a Particular day the market closed with MAJOR PIVOT HIGH, and on the next day until the PIVOT HIGH IS BROKEN STAY SHORT. DO THE REVESE for SHORT POSTIONS. If on the next day there is a GAP DOWN then blindlt GO SHORT. NO Need to look for Pivots.
YOU CAN REMEMBER THE ABOVE RULE SO THAT YOU CAN ACTUALLY TAKE A SHORT POSITION NEAR THE PIVOT HIGH INSTEAD OF the MINOT PIVOT LOW... if in Today's CASE IN THE MORNING, YOU COULD HAVE SHORT AT 5386 itself instead of 5374...
For Example, On Tuesday the market closed near PIVOTHIGH of 5387. Today market opened at 5386 and if we consider a filter of 5 points the PIVOT HIGH is 5391 and market did not cross 5391. So it was better to STAY SHORT....
This morning we started with a Pivot and the market was trading with a FLAG...
NIFTY: Started the day with a PIVOT HIGH of 5387 and the BUY LEVEL has come from 5387 to 5382... The PIVOT LOW was 5374 which has come down to 5362... 20 points profit
BANK NIFTY: Started the Day with PIVOT HIGH of 10530 and closed with Minor PIVOT HIGH of 10488. The Pivot LOW has come down from 10514 to 10456. 100 points Profit
NOW that you folks learnt the basic method of PIVOT trading. Hope it is easy to trade with PIVOTS using RENKO charts and moreover technically today it was good day to learn because of the FLAG formation....
ONE IMPORTANT RULE 1 of EXCEPTION TO TRADE WITH PIVOTS:
If on a Particular day the market closed with MAJOR PIVOT HIGH, and on the next day until the PIVOT HIGH IS BROKEN STAY SHORT. DO THE REVESE for SHORT POSTIONS. If on the next day there is a GAP DOWN then blindlt GO SHORT. NO Need to look for Pivots.
YOU CAN REMEMBER THE ABOVE RULE SO THAT YOU CAN ACTUALLY TAKE A SHORT POSITION NEAR THE PIVOT HIGH INSTEAD OF the MINOT PIVOT LOW... if in Today's CASE IN THE MORNING, YOU COULD HAVE SHORT AT 5386 itself instead of 5374...
For Example, On Tuesday the market closed near PIVOTHIGH of 5387. Today market opened at 5386 and if we consider a filter of 5 points the PIVOT HIGH is 5391 and market did not cross 5391. So it was better to STAY SHORT....