Day Trading Futures

[throwawayacc123]

ok let me tell you what I see today

we opened in yellow range (lower pane) so that range is sideways mode and all trades are only 1/2 MM

long as pvt above vwap taken out

booked at VAH (VAH was 10599 and VAH2 was 10614)

short pvt below orange band

booked some at major support Series vwap +2SD line at 10516 (booked 10522)

rest Sared on pvt 10548 above -1SD (green) and above orange band)

again book at top VAH
again short below orange band

but now 15-13 band (tan supporting...so took off some later....and on pb re-entered that.....

holding shorts

All this is fine. But tell me can you trade 20/30 lots successfully month after month , year after year using your system?

 

[DIVYEDIX]

You do not realize how scary it can be.

Let me explain how dangerous it can be trading lower TF(anything < 15M).

Exchange all over the world including NSE uses FIFO for orders. So the first order that comes in the queue for a price point gets matched against the opposite side and gets filled. Now institutions try to get in order as quickly as they can(co location) so they can get filled. Even if you do get your order quickly , there are some institutions & firms that are also members of NSE have priority(they pay a high fee for this).

Now imagine a retail trader trading lower TF, trying to get a fill in and price is moving fast. You think you can beat the institutions to get your orders filled. I can't even get 20 lots filled on 5 Mins in NIFTY some day's.

Now imagine your SL order doesn't get filled even though price is trading at your SL level. What are you going to do? you will be forced to exit at a worse price and it will take just one instance of this to happen and it will wipe out all your profits and if your are lucky you end up breakeven at best.
Worse case scenario , you take a huge loss and it will take a long long time to recover.

Now traders trading just 1-2 lots have no problem getting orders filled, but you are not going to make much money trading 1-2 lots on lower TF, since swings are rare on lower TF.

yes, it becomes difficult to fill order at desired price above 40 lots - my friend is thinking of shifting to algo trading so that order can be broken into 5 paise orders,

anybody having experience of algo can throw more light

 

[XRAY27]

Today nifty future

 

[pratapvb]

All this is fine. But tell me can you trade 20/30 lots successfully month after month , year after year using your system?

I will not trade intraday more than 10lots....that is 10L capital (my MM is 1 lot per lakh) ...rest will be on different TF / method

mixing and matching multiple TFs infact has the added advantage of getting best of both worlds.....

so one has to create a balance.....

but to the main point of my contention...even I do the above it does not mean I can't make money intraday.....

 

[throwawayacc123]

I will not trade intraday more than 10lots....that is 10L capital (my MM is 1 lot per lakh) ...rest will be on different TF / method

mixing and matching multiple TFs infact has the added advantage of getting best of both worlds.....

so one has to create a balance.....

but to the main point of my contention...even I do the above it does not mean I can't make money intraday.....

I m not saying you can't make money intraday. I do it on 1H intraday.

I m saying it is dangerous for retail traders to trade lower TF.

 

[pratapvb]

I m not saying you can't make money intraday. I do it on 1H intraday.

I m saying it is dangerous for retail traders to trade lower TF.

ok fine.... I agree to disagree

 

[niftyoption]

Bank Nifty Future 15 minits chart Diamond Pattren

------------------------------------------------

"Letting your emotions override your plan or system is the biggest cause of failure."
"If you can't deal with emotion, get out of trading."
" J. Welles Wilder "

 

[KomaL2099]

All this is fine. But tell me can you trade 20/30 lots successfully month after month , year after year using your system?

yes, it becomes difficult to fill order at desired price above 40 lots - my friend is thinking of shifting to algo trading so that order can be broken into 5 paise orders,

anybody having experience of algo can throw more light

that large order filling may be a problem with illiquid stock futures and options in NSE; with Nifty and BnkNifty i dont think 20-30 lots will be a problem.

 

[pratapvb]

ok let me tell you what I see today

we opened in yellow range (lower pane) so that range is sideways mode and all trades are only 1/2 MM

long as pvt above vwap taken out

booked at VAH (VAH was 10599 and VAH2 was 10614)

short pvt below orange band

booked some at major support Series vwap +2SD line at 10516 (booked 10522)

rest Sared on pvt 10548 above -1SD (green) and above orange band)

again book at top VAH
again short below orange band

but now 15-13 band (tan supporting...so took off some later....and on pb re-entered that.....

holding shorts

booked some preorder at 10553 (-1SD was at 10551)

will be looking for short re-entry upto 10600 (10593 is +1SD and 10599 is VAH)

 

[niftyoption]

Pennant pattren in nifty future 5 minits chart

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"Letting your emotions override your plan or system is the biggest cause of failure."
"If you can't deal with emotion, get out of trading."
" J. Welles Wilder "