General Trading Chat

[Fundootrader]

Scalping...

It can give decent returns when trading futures, yes. But the trades are never satisfactory. One can't afford to have a backup of 15-20 lots. Can do it in equities by spreading the orders.

e.g. if I want to sell Union Bank and my chart tells me sell at 113 SL 115, I can spread sell orders between 112.5 and 114.5, maybe selling 500 qnty at 25 paisa intervals.

But in futures, I have to sell 3000 in one go, and wait for the price to go my way. If I sell at 112.5 and the price goes to 113.25, all my mind sees is a "loss" of 2200 Rupees. That's when one loses sight of all the trading strategies and panics.

True. but's than its the same other way around - greenery also comes in complete bouquet/garden's when it comes with futures

The way I learnt to do that is to enter/exit at Sup/Res and to keep 2% as sacrosanct (By increasing the capital per lot) - and post that having peace of mind

 

[timepass]

True. but's than its the same other way around - greenery also comes in complete bouquet/garden's when it comes with futures

The way I learnt to do that is to enter/exit at Sup/Res and to keep 2% as sacrosanct (By increasing the capital per lot) - and post that having peace of mind

The capital used per lot is pretty neat with bracket orders. For union bank, with a 2Rs. stoploss, the capital needed would be about 7000 rupees.

 

[vivektrader]

The capital used per lot is pretty neat with bracket orders. For union bank, with a 2Rs. stoploss, the capital needed would be about 7000 rupees.

Only problem with bracket order is that you can only enter a position via market order, no SL-L or SL-M orders.

 

[timepass]

Only problem with bracket order is that you can only enter a position via market order, no SL-L or SL-M orders.

You can place a bracket order using LIMIT order, using a market order it becomes a cover order.

 

[vivektrader]

You can place a bracket order using LIMIT order, using a market order it becomes a cover order.

Yes you are right limit orders are there, no sll or SLM to enter new position.

 

[arsh22g]

If someone's weekend party not started yet, kindly critique if possible

 

[vijkris]

If someone's weekend party not started yet, kindly critique if possible

my weekend party has not started yet
pls don mind, a junior commenting on ur chart.
acc to my microscopic knowledge of price action trade 2 long should have been avoided, as it is said that after a break of trendline, price usually tests the lows.
couldn understand entry/exit of trade 4.(totally my lack of knowledge). maybe hammer triggered the entry.

thanks

 

[arsh22g]

my weekend party has not started yet
pls don mind, a junior commenting on ur chart.
acc to my microscopic knowledge of price action trade 2 long should have been avoided, as it is said that after a break of trendline, price usually tests the lows.
couldn understand entry/exit of trade 4.(totally my lack of knowledge). maybe hammer triggered the entry.

thanks

I am more junior than you Sirji, and any view is welcome

Trade 2 was based on MACD and structure break to the upside, my SL was just taken and price moved up, so Trade 3 was more or less a continuation of Trade 2.

Trade 4 is also based on structure. Price had broken the congestion around 7043, but retraced to take away my TSL. Trend was still up, so was looking for a low risk entry, which was again provided at the structure's congestion line around 7043. Price usually retraces upto 38.2% to 50% in a move, and I usually re-enter at these points if TSL (which is not based on structure highs and lows, like in this case it was BE of addition) gets hit. Price not breaking 38.2% retracement of the move in first 2 bars also gave me a buy signal. SL was below 50% retracement (around 7034) for this long entry (at 7044). This was an aggressive trade though.

 

[arsh22g]

I am more junior than you Sirji, and any view is welcome

Trade 2 was based on MACD and structure break to the upside, my SL was just taken and price moved up, so Trade 3 was more or less a continuation of Trade 2.

Trade 4 is also based on structure. Price had broken the congestion around 7043, but retraced to take away my TSL. Trend was still up, so was looking for a low risk entry, which was again provided at the structure's congestion line around 7043. Price usually retraces upto 38.2% to 50% in a move, and I usually re-enter at these points if TSL (which is not based on structure highs and lows, like in this case it was BE of addition) gets hit. Price not breaking 38.2% retracement of the move in first 2 bars also gave me a buy signal. SL was below 50% retracement (around 7034) for this long entry (at 7044). This was an aggressive trade though.

This chart will make it clearer

 

[Fundootrader]

Only problem with bracket order is that you can only enter a position via market order, no SL-L or SL-M orders.

I have tried bracket orders - works great if you catch the trend - given the stop loss - in case of whipsaw capital get's eroded faster - so I prefer to go without bracket order - unless real sure of entry