A new Life, A new Career, A new Dream - I am a Trader

[augubhai]

check the Zerodha blog. You will find most stuff that you need to know.

http://www.zerodha.com/z-connect/blog/view/stop-loss-orders-limit-market

 

[arcus]

Hello guys, Need some help in getting use to with NOW.

Can some one please explain me the followings in Buy/Sell Order window.

1. SL order type. (Know about Market/Limit Order, but this is something new to me)
2. Validuty (IOC/Day)
3. Prod Type (MIS/NRML). i guess this is for intraday/overnight position. MIS is for intraday and use exposure. Where as NRML uses completely client's money. If I put a buy/sell order using MIS prod type and by 3pm i decide to carry the position overnight, then can i change it ? Or I need to close the MIS position and put another order with NRML prod type ??

Regards
Taiki

IOC stands for Immediate or Cancel which is self explanatory. Its also called Fill or Kill. Day is valid throughout the day.

MIS is Margin Intra-day Square-off which is used by day traders. It comes packed with leverage which differs from broker to broker. NRML stands for Normal which are used for overnight orders.
Its possible to convert MIS to NRML and NRML to MIS

SL orders are of two types, SL L and SL M.
SL L have a trigger price and a limit price. When price hits the trigger price a limit stop loss order is placed.
SL M only has a trigger price. Once the trigger price is hit the stop loss order is sent as a market order.
If a huge number of SL M orders are triggered at once, it results in a flash crash seen sometimes.

SL orders are also used sometimes to place buy orders if your buy price is above the current market price (say an upward breakout) and sell orders if your sell price is below the CMP (say a breakdown).

 

[Taiki]

EOD Update

Nifty was trading in narrow range for most of the day, which was expected after strong rally for last 2 trading sessions.

Got one buy call at 5860, with a target of 5878-5880, and then 5900. Bought NF at 5857, with a stop loss of 10 points, and exited at 5876. Gain of +18 points

 

[soft_trader]

EOD Update

Nifty was trading in narrow range for most of the day, which was expected after strong rally for last 2 trading sessions.

Got one buy call at 5860, with a target of 5878-5880, and then 5900. Bought NF at 5857, with a stop loss of 10 points, and exited at 5876. Gain of +18 points

18 points or 19 points

 

[Taiki]

18 points or 19 points

Ooppss, It was a typo, I had bought at 5858 and sold at 5876. So gain of +18 points. Thanks for pointing it out.

 

[Gaur_Krishna]

Yes Ford7k, its a very good point. Tom demark follows what you say as top/bottom approach. Prices decline/rise when there are no more buyers/sellers. So vol does not come in picture there at least, so need to be careful when trading with vol

Regards,
Gaur_Krishna

hI
i HAVE SEEN GOOD TRADERS LOOSING LOTS OF MONEY
When they used volume based trend decoders using softwares costing lakhs of rupees.
MORAL of the story

LEARN from others experience instead of trying to get one by yourself.

 

[Gaur_Krishna]

Taiki , which method you are using? I use SWIFT and works well even for NF. (403.forbidden & JK can confirm). Trades are slightlty different with sift.

Other good method is 21 sma and for both credit goes to our boss ST da. :thumb:

But which one is your method?

Regards,
Gaur_Krishna

EOD Update

Nifty was trading in narrow range for most of the day, which was expected after strong rally for last 2 trading sessions.

Got one buy call at 5860, with a target of 5878-5880, and then 5900. Bought NF at 5857, with a stop loss of 10 points, and exited at 5876. Gain of +18 points

 

[Gaur_Krishna]

Zerodha Nice exlaination.
Thanks augubhai

regards,
Gaur_Krishna

check the Zerodha blog. You will find most stuff that you need to know.

http://www.zerodha.com/z-connect/blog/view/stop-loss-orders-limit-market

 

[Taiki]

Taiki , which method you are using? I use SWIFT and works well even for NF. (403.forbidden & JK can confirm). Trades are slightlty different with sift.

Other good method is 21 sma and for both credit goes to our boss ST da. :thumb:

But which one is your method?

Regards,
Gaur_Krishna

Hi Krishna,

No I am not using SWIFT, I came to know about this method from 403 this Sunday. I dont know the rules of 21 sma as well. When i was in job i tried developing many system (that works in all condition but failed). And after everything i wrote down my rules and created my own system.

 

[jain.er]

Can any one explain SWIFT in brief or post a link for the same
Thanks