General Trading Chat

[vijkris]

Though i have been trading from a few years now, i still think im quite young in this forum. Hint ( im well below 30 ). So id rather address everyone as Sir since im guessing most of the time im addressing people older and wiser than me.

if u r below 30, u r comparatively younger than most of us.
i learnt a lot fron kjc, he z 25yrs old. so pls do keep sharing. age is not a factor in success.
thanks

 

[karthik_sri]

Well said Vijay!

 

[ap*]

if u r below 30, u r comparatively younger than most of us.
i learnt a lot fron kjc, he z 25yrs old. so pls do keep sharing. age is not a factor in success.
thanks

I will continue to share my views Sir. Infact i havent been active for long since i was trading the american markets as well as ours. But since im back home now for good will be focusing only on Indian Markets for now and giving my thoughts on it.

Im more of an Index Trader ( since i find stocks tougher to track and analyze) this is one of the main weaknesses i would like to address now learning as much as possible from members here.

 

[vijkris]

I will continue to share my views Sir. Infact i havent been active for long since i was trading the american markets as well as ours. But since im back home now for good will be focusing only on Indian Markets for now and giving my thoughts on it.

Im more of an Index Trader ( since i find stocks tougher to track and analyze) this is one of the main weaknesses i would like to address now learning as much as possible from members here.

i m more of a stock trader rather than index.:lol:
today will be posting dark red trade log in myPnl. :lol:
most ppl here are index traders.

 

[manish9300]

Sir i manage to catch the top of the market only 1 out of 10 times. Today was probably only luck. But generally if u want my perspective on how i trade i follow a very simple system of trading developed after years of being on the loosing side.

I have 3 charts open. 3min,1 hour, 1day. So when nifty breaks previous day low i go short judging by the best moment ( highest point i can short ) looking at the lower tf charts. And vice versa to go long. I also actively look at the option chain to see addition of oi and increase or decrease of price. I quantify that and try to see logic from it whether its being sold or bought. I look at options chain as a last min checkpoint before entering a trade.

Using all the above about 4 out of 10 of trades are sucessful. The only way i survive is with sls protecting me on my wrong trades and then trailing my sls on winning trades to make the most out of it on the winning trades. With this system getting 300 nifty points per month isnt difficult at all.

I trade in a similar style as you.How do you use options chains.What data you find most interesting?i mostly look at IV for reversal confirmation and OI addition for continuation.for ex today morning OI showed little addition on put side and IV were also not high for calls so bullish move was big suspect.

 

[ap*]

i m more of a stock trader rather than index.:lol:
today will be posting dark red trade log in myPnl. :lol:
most ppl here are index traders.

Somehow felt very safe when it comes to index. Manipulation is tougher thought not impossible and as long as trend is respected there are lesser chances of being caught on the wrong side with sudden news etc. More than anything in my little experience when I look at the index charts I see more clarity.

Red pnl is something to not worry about as long as your system is good and proven. The most major mistakes I have made have been when I didn't follow my rules or tried to change them when I had bad streaks.

Strangely once you get it and understand how to trade the right way and not involve emotion in it, trading gets monotonous and boring rather soon. Then our minds get back to work on how to make.it exciting again. :lol:

 

[vivektrader]

Somehow felt very safe when it comes to index. Manipulation is tougher thought not impossible and as long as trend is respected there are lesser chances of being caught on the wrong side with sudden news etc. More than anything in my little experience when I look at the index charts I see more clarity.

Red pnl is something to not worry about as long as your system is good and proven. The most major mistakes I have made have been when I didn't follow my rules or tried to change them when I had bad streaks.

Strangely once you get it and understand how to trade the right way and not involve emotion in it, trading gets monotonous and boring rather soon. Then our minds get back to work on how to make.it exciting again. :lol:

Can you elucidate a bit more on option chain analysis

 

[vivektrader]

I trade in a similar style as you.How do you use options chains.What data you find most interesting?i mostly look at IV for reversal confirmation and OI addition for continuation.for ex today morning OI showed little addition on put side and IV were also not high for calls so bullish move was big suspect.

Manish bhai, please you also explain your option chain analysis in detail.

 

[vijkris]

Somehow felt very safe when it comes to index. Manipulation is tougher thought not impossible and as long as trend is respected there are lesser chances of being caught on the wrong side with sudden news etc. More than anything in my little experience when I look at the index charts I see more clarity.

Red pnl is something to not worry about as long as your system is good and proven. The most major mistakes I have made have been when I didn't follow my rules or tried to change them when I had bad streaks.

Strangely once you get it and understand how to trade the right way and not involve emotion in it, trading gets monotonous and boring rather soon. Then our minds get back to work on how to make.it exciting again. :lol:

ap bro, if u dont mind can u open a new thread and post all your views.

 

[Mungus]

one quick query option traders-

If Nifty Future is trading at 7870,I generally buy nearest CE,which is here 7850CE.
and if NF is at 7920,I select 7950PE.

am I doing it wrong? I see may traders select whole number like 7800,7900,8000.
Whats the reason behind that?

my purpose of doing CE-PE is to catch quick 5-10 points moves,dats all I want.

reply karo bhai,overlook na karo.