General Trading Chat

[lemondew]

Just checking into this one if negative points can be reduced and positive intraday added. Trade reversals but dont hold positions untill we are a little away from bottom and going up. May be 3.5% up from bottom... First sight seems good

Catching reversal is different than trading erratic markets....even in reversal we keep positions only when the market shows strength ......

ST

 

[vivektrader]

No movement in forum too.....

Vivek

 

[travi]

No movement in forum too.....

Vivek

Earnings season seems to have started off on the wrong foot

 

[lemondew]

St,

In this market if reversal fails would you enter short and carry positions overnight.

Catching reversal is different than trading erratic markets....even in reversal we keep positions only when the market shows strength ......

ST

 

[travi]

IndusindBk stock unmoved by its results, more less the same with previous Qtr.

 

[Smart_trade]

St,

In this market if reversal fails would you enter short and carry positions overnight.

Try to understand the thought behind any action...don’t follow it as a rule...So in normal volatility, if I take a position say long position on chart indication for reversal then the market has to reverse strongly....If on a supposed reversal day market is closing at less than 40-45 points from the reversal level that means reversal is not strong ,it is doubtful so won’t carry any overnight position ,long or short and take fresh position the next day....why 40 -45 points ? Because it gives me some cushion if the market opens gap down the next day....in the initial period of reversal the market is very fragile and it can open gap down against us the next day..so we guard against that happening.

Present volatility,40-45 points are not sufficient...may be we need 100 points from the reversal level.....

So any weak reversal or failure, but stoploss not yet hit....get out of the position at EOD....

Smart_trade

 

[vivektrader]

ST sir
#Not carrying overnight position, can we objectively define an India VIX volatility level which when present one should avoid carrying overnight positions.

Vivek

 

[Smart_trade]

ST sir
#Not carrying overnight position, can we objectively define an India VIX volatility level which when present one should avoid carrying overnight positions.

Vivek

Simple rule is when there are too many factors ,any or all of which can trigger at EOD and make the market open with a gap against us, avoid overnight positions.....

Smart_trade

 

[niftytaurus]

Hi
query from all experienced traders..Bnf is very volatile in this month.
Is BNF trading giving problems only to me or others are also suffering? I am purely intraday traders.
BNF'S daily ATR has already increased..its swinging 200-500 points easily..& even small pubacks are 100 points & deep pullbacks are 200 -300 points.
Even IF direction is Right, SL should be very wide,...But even if we keep SL VERY WIDE, then also see the todays swing of 25450 to 25200 & then again up..how can we trade this kind of market?
Shall I stay away from this market for some time as its lowering my morale? Or Do you thing we can trade it?
thanks

 

[VJAY]

Hi
query from all experienced traders..Bnf is very volatile in this month.
Is BNF trading giving problems only to me or others are also suffering? I am purely intraday traders.
BNF'S daily ATR has already increased..its swinging 200-500 points easily..& even small pubacks are 100 points & deep pullbacks are 200 -300 points.
Even IF direction is Right, SL should be very wide,...But even if we keep SL VERY WIDE, then also see the todays swing of 25450 to 25200 & then again up..how can we trade this kind of market?
Shall I stay away from this market for some time as its lowering my morale? Or Do you thing we can trade it?
thanks

Dear niftytaurus,
Yes bnf is volatile this month...if you are breakout trader then you see dificult this month as like me...hope you are also trend trader....its good for who trades pullback trades or range traders.....for trend traders when big gap down days happens mostly not helps those days...which happened this month couple of times...if you look this month chart you can get it...so just stick with your method ans wait for opportunity ...
Though today hit my initial stop for a trade is first one of this month ...These all are from my views as I too feeling it this month