Comfortable profits from trading Nifty.

[gmt900]

Re: Amateurish.

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.

Thank you for your reply. In the recent past there has been lot of whipsawing enriching the broker.It has been quite difficult to trade nifty. So, it was frustration which made me think on the lines I did.I will take your advise and not go ahead with it.
I am looking for an average income of Rs 10,000 per month trading nifty with a trading account of Rs two lakhs. I could increase the corpus later.
could give suggestions about position sizing , stop loss levels, overnight exposure and the likes ?
Thanks and regards

 

[jamit_05]

Re: Amateurish.

Thank you for your reply. In the recent past there has been lot of whipsawing enriching the broker.It has been quite difficult to trade nifty. So, it was frustration which made me think on the lines I did.I will take your advise and not go ahead with it.
I am looking for an average income of Rs 10,000 per month trading nifty with a trading account of Rs two lakhs. I could increase the corpus later.
could give suggestions about position sizing , stop loss levels, overnight exposure and the likes ?
Thanks and regards

This is exactly how a profitable conversation starts. I am glad.

If you are indeed serious about growing your money at this steady pace of Rs.10000 a month with Rs. 2 lakhs coupled with peace of mind and comfort then you will be required to follow strict instructions. If you are prepared then do comply, then I will proceed.

Regards.

 

[PartTime_Trader]

Re: Amateurish.

Thank you for your reply. In the recent past there has been lot of whipsawing enriching the broker.It has been quite difficult to trade nifty. So, it was frustration which made me think on the lines I did.I will take your advise and not go ahead with it.
I am looking for an average income of Rs 10,000 per month trading nifty with a trading account of Rs two lakhs. I could increase the corpus later.
could give suggestions about position sizing , stop loss levels, overnight exposure and the likes ?
Thanks and regards

If interested in similar system you can check out this thread, Gurmy uses same stop loss of 20 points and has clearly defined rules for trading

OK
let me present my idea of trading nifty w/o TA
1:BUY, when price crosses the high of previous two days
2:SELL,when price crosses the low of previous two days
3:EXIT LONG:when price crosses previous day low
4:EXIT SHORT:when price crosses previous day high
5:On opening the long position,if price closes below previous day close price,long should be closed same day,do just opposit for short position.
6:take position with two lots,one to be squared off at 20 pts profit/loss
basic idea is not mine,but i have done some modification to suit my style
backtested on nifty spot,gives 150-200 pts avg per month
i have not traded this till now but planning to do
before that would like to know if anything is missing here
your feedback is welcome
thanks

Recently he changed the rules to book profit on 75% of the position on gains of 20 points and stop loss for full position is 20 points now. for further details or queries check his thread

Hope it helps

Thanks

 

[gurmy.]

Re: Amateurish.

Hi Gurmy and Augubhai,



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.

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...

To start off, do NOT go ahead with it.

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.

hi jamit
i like your thought process,clear and to the point

infact it is matching with my own

i am also of the view that trading is all about managing your trade

entry and exit are subjective

u can find reasons to enter if u want to enter a trade

regarding stoploss, i am also following a system to trade nifty with a sl of 20 points

in fact as per my system i was short on nifty from 5888 (11.12..12)

thanks

 

[jamit_05]

Re: Amateurish.

gmt900,

Any trading system could be followed. There is a 315 SAR system by TWH... it is an awesome system. It has no defined stoploss, just sar. It is a well defined and a thorough system. Lots of people are following it too. It will suit you to start out.

Point being. Take a system that suits your ability. And then learn discipline. Remarkable success is just a matter of time.

 

[jamit_05]

Trading method.

Hi Gurmy,

I have found that using a 20 point stop is a little challenging. But, that challenge is much required. For any trader to be successful he should first have formed a very strong habit. Habit of taking his stop loss and his entry without tiniest hesitation. Only after that he can rely on himself with his money.

I find this way suitable because, after the initial hassle of taking the entry, the returns are always good. Not a single month of lack of profits. However, quite a bit of understanding goes into managing these points of reversals. Hope you tackled that well, because HOD and LOD breaks are most sought after triggers, hence most whipsaw prone.

regards.

 

[gurmy.]

hi jamit

i agree

trading it self is a challange
and this challange can be tackled if u have faith in your system or trading plan
if my system shows that even 4-5 cont hit of sl will be covered in next trade
then i do not to fear to put sl,however small it is
yes ,HOD,LOD gives whipsaw,but than they can be taken care with money management
i made a system and trading it,and trying to improve it furthur
whenever have time go through it,
would like your suggestion to improve it furthur
here it is

http://www.traderji.com/swing-trading/76776-nifty-swing-trading-ideas-without-ta.html

thanks

 

[gmt900]

Re: Amateurish.

This is exactly how a profitable conversation starts. I am glad.

If you are indeed serious about growing your money at this steady pace of Rs.10000 a month with Rs. 2 lakhs coupled with peace of mind and comfort then you will be required to follow strict instructions. If you are prepared then do comply, then I will proceed.

Regards.

Before I reply, is there a typo error in your post yesterday ? Should we read 5895.70 instead of 5695.70 ?
i am very serious about making Rs 10000 per month and I would follow your instructions strictly.
Is it prudent to enter into a nifty trade at this point ? Is it necessary to remain in long or short position at any point of time or one can stay out when the nifty is directionless?

 

[jamit_05]

Re: Amateurish.

Before I reply, is there a typo error in your post yesterday ? Should we read 5895.70 instead of 5695.70 ?
i am very serious about making Rs 10000 per month and I would follow your instructions strictly.

Before we jump into a trade. We need a trading method which suits your caliber. A method which gives clear entries and SLs. Do you have one? We won't be taking on random trades based on opinions.

I would recommend you get thorough with tradewithhunter 's 315... it is suitable.

 

[gmt900]

Re: Amateurish.

Before we jump into a trade. We need a trading method which suits your caliber. A method which gives clear entries and SLs. Do you have one? We won't be taking on random trades based on opinions.

I would recommend you get thorough with tradewithhunter 's 315... it is suitable.

I will have to study tradewithhunter's 315 system. how do you suggest I do it?
Thanks and regards,
gmt900