General Trading Chat

[arsh22g]

Tried gaming the trend today, and was almost successful. As I hypothesized earlier, NF follows FTSE move by move between 1:30 PM and 3:30 PM in absence of any Indian trigger; and FTSE opened 5865 and quickly jumped to 5900, which is a resistance level. NF was at 7460 odd levels then. There was a high probability of FTSE moving back from 5900, and if the hypothesis of NF following it is correct, there was a good 20-30 NF down-move was expected at those levels. I shorted at 7462, but due to NF specific congestion in 3 min TF, a sudden up-move took out my SL which was obviously tight because FTSE failing 5900 resistance could jump up fast, without any move by FTSE. As expected, NF started falling from 7472, and fell till 7410. I could only re-enter at 7440 odd levels.

Here are the FTSE and Nifty Spot (not NF, so levels different from what I described above) charts for today and yesterday's sessions between 1:30 PM and 3:30 PM.

 

[amitrandive]

Spot Nifty 5 min

Slowly inching upwards with pullbacks on 20EMA.

Spot Nifty 5 min update

Looks like upside done

for today ??

Maybe

Just play of support and resistance.
Did not go over yesterday High

 

[Vipul_84]

Thanks Smart_Trade Sir, feeling honored to receive answers from you.

I read a powerful quote by Dr. Van Tharp. He categorises 3 aspects of trading as: Trading strategy (10%), Money management (30%) & Psychology (60%). I have found myself, putting 99% of energy on Strategy and no time for other 2 important aspects of trading.

Sir, I am looking for totaly mechanical system to make 120 points per month. Why mechanical, because by doing so I want to focus much more on trade management , DISCIPLINE and position sizing.

Can you please guide to me that which are other methods, wherein we can make these points in NF?

What is important is how many points one makes consistantly in a month....consistancy is the key...120-150 points one can make on many methods in our forum.But more than the method, how trader manages his trades is important.

Smart_trade

 

[Smart_trade]

Thanks Smart_Trade Sir, feeling honored to receive answers from you.

I read a powerful quote by Dr. Van Tharp. He categorises 3 aspects of trading as: Trading strategy (10%), Money management (30%) & Psychology (60%). I have found myself, putting 99% of energy on Strategy and no time for other 2 important aspects of trading.

Sir, I am looking for totaly mechanical system to make 120 points per month. Why mechanical, because by doing so I want to focus much more on trade management , DISCIPLINE and position sizing.

Can you please guide to me that which are other methods, wherein we can make these points in NF?

Most mechanical systems trade trending and sideways phases with same logic and in one phase they loose money continuously.This is where a trader judgement comes in play so it will be very difficult to get a 100 % mechanical system which requires no trader discreation making consistant profits....also they give large drawdowns which becomes tough on mind during losing periods.

But with trader judgement of trends and sideways, many systems like Pivot,2 MA,VWAP,Bands ,BO failures etc can make 120-150 points comfortably in a month.

Smart_trade

 

[eku]

this is generic version of AMA AFL. by default it will show for the chart TF.

in param usetf = YES and tf = 1440 to get daily band for swing

tf = 15min for intraday

colors of band and MAs you can change suitably so that you can differentate which is intra and which swing

in param,use tf=YES or NO for intraday?

 

[Fundootrader]

Query - How do you guys who trade intraday punch in orders quickly through NEST - Is there a better way available to place order.

Specially with options trading by the time you identify the move - assuming you are monitoring 2 options (so not an option of keeping a buy/sell window with specific option open) -- the option price has moved quickly

trying to understand are there any automated ways or better manual ways for quicker entry

 

[vijkris]

in param,use tf=YES or NO for intraday?

for intraday use
usetf=yes
tf = 15

 

[blackberry]

for intraday use
usetf=yes
tf = 15

what about EOD settings,which TF?

 

[blackberry]

:cheers: wow hope all u made tons today.out today..:clap:
Nice trending day...Kabhi kabhii aate haein ye

 

[eku]

This is how my trading system looks like-