General Trading Chat

[lemondew]

ST da,

Any exit we had in our swing trade. In 5 min chart we had 3 sequences of lower lows and lower highs as per june futures. Before it picked up

 

[Smart_trade]

Hi
1) But 35-40 trades daily in scalping options? did u used to do nifty scalping or stock scalping also?
2) whats was your risk point wise in options & whats was the reward for scalping trades
3) what was your high probabilty scalping setups which u used to do..?
4) if you can put some lights on buying options or or some price action setups or you used indicators also..please share some knowledge about options buying?
thanks

1) I used to scalp in nifty in the money options.

2) Risk used to be 2-2.5 points,reward 3 to 5 points.

3) Scalp in direction of the trend...accumulate in correction ,book profit in trend move.

Above are general rules....on break of pivots,used to get more points.But it is also based on judgement of the price move and needs fast action.

ST

 

[Smart_trade]

ST da,

Any exit we had in our swing trade. In 5 min chart we had 3 sequences of lower lows and lower highs as per june futures. Before it picked up

We are trading swing...so 5min lower tops and bottoms makes no difference.In swing trades one must be able to forgo 50-60 points from the top/bottom .We cannot swing trade with day trader's mindset.

ST

 

[vikas2131]

more easing by boe and stocks are happy

 

[TracerBullet]

I take a trade at open when the set up is in place and the market did not act yesterday but it is acting as per the setup today. As the set up is already in place, it has a good success rate.

You can take a trade on first consolidation and the breakout from that. But sometimes the first breakout will come at higher prices.

If the set up is not in place, I wont buy the first bar as it is risky and the market may sell off on gap up opening.

Smart_trade

da, what is the stop plan for such trades, due to gap up entry price is higher than the mph. On 29th, price eventually took a dip below entry of 8160-65 upto 8155, where to place stop? BO point i think is 8130.

One option is to reduce position size and keep stop beyond 8130 and then follow usual method as below. But gap up can be bigger, say 50-60+ points and then stop size will be too much vs normal size. Then will you instead look to work entry using intraday with intraday stops initially and hold as swing if it moves and holds?

 

[lemondew]

We did reach 8265-70 today in july futures How we put that as profit booking

We are trading swing...so 5min lower tops and bottoms makes no difference.In swing trades one must be able to forgo 50-60 points from the top/bottom .We cannot swing trade with day trader's mindset.

ST

In July contract I am looking at 8265-70 for partial profit taking and 8230-35 for full profit taking if the market dips to those levels.

Smart_trade

 

[lemondew]

Good question. I think its better to go with with tight stop and renters below so long as we are not below higher low.

In this case higher low is 8115. So long at any point above 8115 if its showing support at lower level. So just guessing may be 20-25 SL and renter at that point. with SL as 8115. Below which the trend itself in question.

Something like this ST had said I guess if i understood right. I ll leave it for him to answer

da, what is the stop plan for such trades, due to gap up entry price is higher than the mph. On 29th, price eventually took a dip below entry of 8160-65 upto 8155, where to place stop? BO point i think is 8130.

One option is to reduce position size and keep stop beyond 8130 and then follow usual method as below. But gap up can be bigger, say 50-60+ points and then stop size will be too much vs normal size. Then will you instead look to work entry using intraday with intraday stops initially and hold as swing if it moves and holds?

 

[oi trader boi]

1) I used to scalp in nifty in the money options.

2) Risk used to be 2-2.5 points,reward 3 to 5 points.

3) Scalp in direction of the trend...accumulate in correction ,book profit in trend move.

Above are general rules....on break of pivots,used to get more points.But it is also based on judgement of the price move and needs fast action.

ST

Sir,have you traded stock futures in your initial days?
are you trading any stock fut these days?

ty

 

[vivektrader]

,.............................

 

[Smart_trade]

Sir,have you traded stock futures in your initial days?
are you trading any stock fut these days?

ty

I traded stocks intraday in cash market in my initial days. I traded stock futures in past and still trade stock futures.

Smart_trade