General Trading Chat

[Tavnaz]

vijayanscbe and mudraatrader and friends,

how will you place an order? same image I posted..Left side,thats the vPH or say some kind of pivot @ 547..so where will u place your SL-M order?

I didnt understand completion of candle vijayanscbe and mudraatrader.

We place SL-M like this only,right?

Let me be the first to answer your question.
Personally I love BO trades,getting to the point.
If you are anticipating a breakout mark the point of Bo before it happens,this point which you are expecting a breakout of.
Then you wait for a candle close above the breakout point,which means the candle must not be running .
That's it just wait for a full bar that closes above bo point.
Buy with stop at nearest pivot.
Candle close justifies the will of the market.
If market is really decisive about bo it will firmly close above bo point.
Hope this helps.
God bless you
;-)

 

[headstrong007]

Dada and Friends,
pls help me solve this issue which I always face in my trading.

I put SL-M buy order @547.
Because of 2 reasons-1)it was AMA breakout 2)vPH breakout.

Order got filled at 548..The candle was pure green at that time,but suddenly it made a high and got shrink.
And I had to cover at 545.25

a loss of almost 2.75points =Rs 3575 per lot.

How to handle this situation.Am I doing mistake in order filling?

Such things keep happen in stock futures so instead of using SL-M order,I use limit order or keep running behind the candle..
and I get either extreme high or low and I made a day big red.

Pls friends do reply,ST dada may be busy.Dont look overlook my query.

Such things happen in real life trading with SLM.. But biggest problem.. when u don't take the reverse trade after your SL was hit..there was larger profit on the table..

 

[Rehab]

Let me be the first to answer your question.
Personally I love BO trades,getting to the point.
If you are anticipating a breakout mark the point of Bo before it happens,this point which you are expecting a breakout of.
Then you wait for a candle close above the breakout point,which means the candle must not be running .
That's it just wait for a full bar that closes above bo point.
Buy with stop at nearest pivot.
Candle close justifies the will of the market.
If market is really decisive about bo it will firmly close above bo point.
Hope this helps.
God bless you
;-)

Tavnaz Bhai,One chart for this Please.

 

[Pradeep Narayan]

@Rehab
Your entry at 547 would ideally have a stop at 542 based on chart formation (on 7th Apr). Whether this is tradeable or not would depend on your cash balance and risk appetite.

As for today's entry, the pivot at 534 could have been the stop once 539.5 odd has been taken out. This would have given a 1R trade.

 

[Tavnaz]

Tavnaz Bhai,One chart for this Please.

Hi,
I'm afraid i don't have indian markets chart,but basically every BO works same way,i have seen BOs in nifty and traded them, but i don't have charts on hand.
Indian markets are no different.
I have compiled a few very basic charts from my saved files.
Some general things i wish to say:

Before watching my charts please know this,trading is not about being right its about making money even when you sometimes are wrong.
Not every trade is a winner,i sensed from your post as if you believed somethings are 100 %,but they are not.
Bo's fail too but we close trades that don't act right before they hurt us badly.
If you are starting out just fund a test account of 5000 inr or so then just trade as best as you can for 3 months,if you blow the account.you don't have a system,or your system sucks,fine tune it.
If it performs even 50 percent hit rate fine tune your RR,don;t push it
testing phase is important so we can find out the percentage and performance of our strategy in live market conditions
My personal feelings based on my opinion of you:
Now getting down to why i said all the above,Bo trades are great trades but even they fail,so when we see them fail it is not that they don't work,it's just that this is trading business we are never 100 percent right,in case of Bo trades its either break or fail,there isn't anything you can miss or don't know,it's all simple and clear.
So asking questions what i could have done better etc don't work here,its just the way trading works.

hope this helps.

hope this post is well worded and easy to understand.
God bless you.
;-)

 

[Tavnaz]

have a beautiful weekend all.
Be with loved ones family and friends they are everything.
Go for a walk maybe a long drive ,have a smile.
Take care.
God bless you..
;-)

 

[Mungus]

I think Rehan knows what breakout is.
His question is more about order type(SL,SL-M,Limit) as the candle got shrink with a large distance after his order filled.If that candle were not get shrink,his BO entry was perfect and he'd have made money.
He's asking how to place a order to avoid such candle shrinks.As some traders above replied that after the completion of candle,IMO,completion of candle can be WRB or EOM bar and you will miss a yummy breakout.

Hope ST,XRAY or Pratap Ji can answer this query.

 

[Smart_trade]

Breakouts offer good trading opportunities but all breakouts don't succeed.Many breakouts fail and they offer good breakout failure trades .

If the price after a breakout comes back below the pivot high it broke,then that breakout is suspect.Look to get out of the position on cracking low of the breakout bar or below the low of the bar which closes below the pivot high broken earlier.

Slippage is a problem when we trade stock futures with low depth and market orders give us bad fills .That is why it is important to trade stock futures with good order book depth.

Lastly these things do happen and if bad fills gave you large and disturbing loss,then it means that you are trading a stock future contract which has large number of shares compared to what you should trade considering your capital and the contract is illiquid.So consider trading smaller quantities of the stock in cash market because from the chart I can see that normal stop for this scrip is 2-2.5 points and the slippage could make things worse.

Smart_trade

 

[XRAY27]

I think Rehan knows what breakout is.
His question is more about order type(SL,SL-M,Limit) as the candle got shrink with a large distance after his order filled.If that candle were not get shrink,his BO entry was perfect and he'd have made money.
He's asking how to place a order to avoid such candle shrinks.As some traders above replied that after the completion of candle,IMO,completion of candle can be WRB or EOM bar and you will miss a yummy breakout.

Hope ST,XRAY or Pratap Ji can answer this query.

i'm also not running candle trader...80 % of BO will turn into fake out's...question your self on the data you trade,how many yummy movements you can catch ??
i enter at reaction area...because i use Demand and supply rules !!! regarding orders ..for BO buying i use SL order if i miss then limit order at reaction and for Stop loss it is always SL-M order

 

[pareshR]

This week net 65 points in nifty in intra day segment including today.positional no trade and swing a open position is there !!!!

for gain 65 points, total calls n TGT hit calls!!