Comfortable profits from trading Nifty.

[jamit_05]

This thread is about trading profitably and comfortably.

The focus will be on keeping the process simple while making REGULAR PROFITS, month after month. This, I have found, is only possible after attaining a proper mental attitude.

Will be regularly publishing my trades in Nifty Futures, which will be less than five a week. This will make trading comfortable and full of practical advantages like reduced expense, slippages and errors. These amount to a lot. One cannot go wrong.

The kind of discussions that are welcome are the ones related to growth and execution. Your questions could be like,

1) I want to make Rs.10000 a month from trading. Where do I start?
2) I have Rs.XYZ and I want to beat the FD rates or Mutual Funds and have complete control over it.
3) I have a full time job, can I still trade profitably?

Or more advanced topics like :

1) What gets in the way of taking or exiting a trade.
2) I have a trading method. Back-tests are great. But, results are elusive?

This thread will attract traders who's primary objective is to earn money.

There won't be much discussion about any trading technique (or technical analysis). There is plenty of it all over the net. All you need is one!

Well... let me go ahead and publish my last trade.

 

[jamit_05]

Went Long in NF at 5695.70 ;

I do not follow a specific method of decision making. I decide after sufficient assessment before changing sides. However, I do have a fixed discipline about:

1) STOP LOSS
There should be an Indian God to handle this department..seriously, it is so important. It is the only real savior. In trading, if one needs to learn anything FIRST then it should be everything in-depth about STOP LOSS. Simply because, if you don't then you won't be around to learn the Second thing <more on it later>

2) Position Sizing.
'When' and 'Where' are trivial questions compared to "How much".

Thanks for reading....

 

[PartTime_Trader]

---snip---

 

[jamit_05]

Hello Jamit

Interesting, your way of trading seems to be much similar to the way i am trading, but for intraday trades i use bank nifty and not nifty.


Thanks

Trading IntraDay is like a negative sum business... so much expense, slippage and high adrenaline... hats off to the guys who manage it...

Trading positional is far more comfortable... perpetual paid holiday...

 

[gurmy.]

Trading IntraDay is like a negative sum business... so much expense, slippage and high adrenaline... hats off to the guys who manage it...

Trading positional is far more comfortable... perpetual paid holiday...

welcome jamit

happy trading

 

[gurmy.]

Went Long in NF at 5695.70 ;

I do not follow a specific method of decision making. I decide after sufficient assessment before changing sides.

2) Position Sizing.
'When' and 'Where' are trivial questions compared to "How much".

Thanks for reading....

dear jamit

still it will be good,if u give some rational behind your trade


thanks

 

[jamit_05]

Success in trading is an "inside" job.

Hi Gurmy and Augubhai,

It seems you are amongst the few of the many traders who are successful, since you are around .... Kudos...

Thanks for the warm welcome.

Now the rationale. It is the least important part of trading but most discussed.

Trading is like learning to swim. Once you have learned how not to drown... rest all is just a matter of time. I do not aspire to become Michael Phelps, but I should definitely be able to get from point A to point B.

My current logic: Nifty has established a support at the upper end of the gap. If this support breaks I will be in short..... also daily ema15 is acting as support. Lower below: there is an established trendline. This could be demolished, since this impending short will be a breakout failure of a weekly breakout.... And NF 6000 is a round figure and a previous top... if it breaks another 200 points are for sure...

The logic is endless... and it doesn't matter... it all comes... the importance should be placed elsewhere... success in trading is an inside job...

 

[gmt900]

Re: Success in trading is an "inside" job.

Hi Gurmy and Augubhai,

It seems you are amongst the few of the many traders who are successful, since you are around .... Kudos...

Thanks for the warm welcome.

Now the rationale. It is the least important part of trading but most discussed.

Trading is like learning to swim. Once you have learned how not to drown... rest all is just a matter of time. I do not aspire to become Michael Phelps, but I should definitely be able to get from point A to point B.

My current logic: Nifty has established a support at the upper end of the gap. If this support breaks I will be in short..... also daily ema15 is acting as support. Lower below: there is an established trendline. This could be demolished, since this impending short will be a breakout failure of a weekly breakout.... And NF 6000 is a round figure and a previous top... if it breaks another 200 points are for sure...

The logic is endless... and it doesn't matter... it all comes... the importance should be placed elsewhere... success in trading is an inside job...

I have been toying with the idea of going long in NF at around 5850 and sitting tight. Since it is expected that NIFTY will be in 6000 + zone in early 2013, I will have to bear the mtm in case nifty slides lower. I may not put a stop loss since I find deciding the stop loss is the most difficult and I am willing to bear a loss of upto 200 points. there is an additional advantage that the transaction costs are less. i don't whether this is an amateurish thought but would welcome comments from the members.
Thank you,
gmt900

 

[jamit_05]

Amateurish.

I have been toying with the idea of going long in NF at around 5850 and sitting tight. Since it is expected that NIFTY will be in 6000 + zone in early 2013, I will have to bear the mtm in case nifty slides lower. I may not put a stop loss since I find deciding the stop loss is the most difficult and I am willing to bear a loss of upto 200 points. there is an additional advantage that the transaction costs are less. i don't whether this is an amateurish thought but would welcome comments from the members.
Thank you,
gmt900

To start off, do NOT go ahead with it.

What you need to understand is, why do you not want stop losses?

I trade a method which has a 20 point stop, and is strategically designed to catch 300 to 600 point moves.... it gives plenty of whipsaws... so what. I know one thing for sure... stop loss is the most important part of trading... its heart. Cannot imagine trading without it.

Embrace the concept of stop loss and be ready to receive the returns.

 

[jamit_05]

will be adding to position above prev. day's high... looking to exit all if 6000 is reached... enough for my needs