Day Trading Futures

[Option.Trader]

I think he meant close lower than open, anyways it looks like both conditions satisfied, let's see, only a brave soul can short now with expiry looming

As TD COMBO sell is complete, there are two options b4 us
1) for less risky traders enter at break of close lower than close of 4 bars earlier
2)go short now, Risk mgmt says keep stop loss equal to today's high + today's range as today was a true high day
It's a good way to test TD COMBO for Indian market
ST , please correct if anything missing?

 

[timepass]

TPbhai, any trade in SBI ?

was out.. missed it.

 

[Tlahuicole]

1R loss day again

 

[RockyRobust]

Just For Some Light Hearted Fun ....

 

[RockyRobust]

Hi
ST sir & other senior members..please advice on a small & stupid problem regarding sl entries & exit...
ex.we are trading on 5 min chart..& we are in long position .If our sl is on 6550..so markets can do 2 things...a) 5 min candle just touches your sl..it goes down till 6545...& comes up & closes above 6550...& then market resume its upward journey...b) markets goes down 6550...6545..6540..6535..means continue its downward jouney & closes down to your sl...
Now my queston is when we put our sl...what should we considered..should we wait for candle closing to exit..or should we exit just on touching the sl? we have to face problems in both condition..if we just put sl on system..& when it touches but candle didnt close under that level..& we are out ..& market resumes its original journey...& in 2 condition,if we wait for candle close...then we dont know that particular candle can go how much low..& in that conditon if fall down is deep..its not good for our risk management..
same problem with entries only..ex if we decide to enter long on particular pivot high break break...& we put sl-m order...then market can just touch our level & we get the fill & we are in..but after 1-2 minutes that candle starts going down & close below our level..or if we choose 2 option..means we wait to candle close ..& if that candle go higher & higher ...so now we are very far from our entry point & sl is far ...so not comfortable with that entry..
so please suggest..what option is suitable ?
Thanks

I tend to follow a filter rule for my trades. This filter is nothing mechanical but a mental filter . Whatever Stop Loss I decide as per the price action scenario , I add another 5-10 point filter for NIFTY to give a little bit of wiggle room to the price. This is because wherever we are putting the stop its always in a zone and not a particular level . Price is not mandated to respect certain particular level & so might trespass the level. A mental filter therefore helps me to give a little bit more room which many times helps a lot in avoding the touch & go effect of the price.

If price breaches the mental filter too then I take the stop and start afresh.

 

[a1b1trader]

Any break of the trendline should be taken care of.

 

[jprashant2013]

Any break of the trendline should be taken care of.

tomorrow or friday its done thats what i feel sir,... momentum slowing.. just expiry matters

 

[a1b1trader]

My observation

As today is expiry and after some time, NF value will equal NS, almost

So posting in NS values

NS if crosses and sustains (each level) can move in following levels

6606/07 -> 6625/30

6630/35 -> 6655/65

And if crosses this level also then
Will it move to 6700
IMO, it is unlikely to reach and cross over 6700.

But market is dynamic, you cant say anything for sure.

Initial SL should be 6570, that can be trailed as per ones risk

Take care

 

[a1b1trader]

My observation

BankNifty (spot levels)

BN if crosses and sustains (each level), then can move in following levels

12535/40 -> 12570/80

12585/90 -> 12620/25 -> 12650/60

And if crosses this level also, then

Celebrate a party

Initial SL should be 12460/80, that can be trailed as per ones risk

Take care

 

[a1b1trader]

My observation

BNF crossing 12520/25 will be a good sign and if
BNF crosses and sustains above 12530/40, then can reach 12575/80 and may be above

But

Breaking and sustaining below 12400 may not be good for the rally

Use proper SL/TSL
Take care

Posted on 25.3
And the target met yesterday