Re: 1 lakh to 652 lakhs in 497 trading days - Winning 20% of Trade in NIFTY Futures -
Hi Raj,
I have downloaded versio 2.3. At 12:28 pm, I got following values under NIFTY MTP INDICATORS : Buy Above => 5438 & Sell Below => 5438
Both values are same.
Also under NIFTY MTP column got Buy at value as 5420 which is even not today's low uptil now.
Target 1 @5447 is indicated as achieved
Is there any problem in the excel sheet or problem at my end?
Please answer. Thanks a ton for your great effort & supportive nature.
There is no problem with the tool. It may be indicates a triangle breakout and so the Buy line and Sell line crossed each other at 5438.
Even otherwise As I have been telling please always have a filter of say 5 points.
In the morning LONG triggered above 5433 with a stoploss of say 5413 (since the Pivot low 5409 is far from stoploss)
Made a high 5443 and then made a low of 5435, 5436 and 5437.
There is also a triangle breakout around 12:15.
Made a high of 5448 and then the short triggered at 5445.
But the Stoploss still not triggered
In the DAILY charts also there is a Triangle formation. So the real breakout might happen today or tomorrow. So in such consolidation times also lookout for higher timeframes like hourly or daily...
One thumb rule is in such consolidation phases like out for a Triangle formation and wait till the full triangle is formed and take positions only after the traingle breakout (If you have not taken the position in the morning).
Normally in the third week of F&O cycle such consolidations do happen and we have to be careful and trade less... The first two weeks of the month are normally trending and the last two weeks there is a heavy fight between Bulls and Bears...
Also in 3rd and 4th week of FandO cycle look for quick profits of 15-25 points, which is not as per the book. Otherwise better to stay away from the market.
So when there is heavy fight just stay away and watch the fight rathen getting in and get hurt....
