Milking Ticks out of NTPC

[yasirdxb]

Okay... Thats is my intention at least. however the fact is that I don't know much about the fundamental side of NTPC. in fact there is not a solid strategy or system as of now. all I have is few ideas. I'm trying to capitalize on that.

There is nothing special about me choosing NTPC for day trading. I just liked its price action at key levels. anyway.. consider this as an experiment.

Every day I'll be opening 1000 NTPC at the opening. orders for another 1000 and 2000 will be placed at the same time.there will be a maximum of 3 trades at any given day. there is no stop loss orders.I'm not placing a target price as of now. I'll just wait until the broker closes the trades either with a profit or loss. may be this will change in the future. the direction of the trade is decided by something out side of the box. so leave that to me

Any feed back and comments which may help me to refine this method is welcome.

ps:My account balance is around 190k(it was 200k and i lost 10k in a few plays).anyway 90k is what I'm going to set aside for this experiment.

 

[SavantGarde]

While You Have Not Outlined Your Strategy Of Whether Going Long Or Short
Here Are Some Points, Considering You Are Going 1000 At A Time:

a) It Has Good Weightage On Nifty
b) I Have It As BuyHold.

This Would Have Been More Suited To Reliance...Just My Opinion

By The Way Did You See The Downward Spike On USDJPY In The Evening Today......

Best Of Luck

Happy & Safer Trading

SavantGarde

 

[columbus]

Okay... Thats is my intention at least. however the fact is that I don't know much about the fundamental side of NTPC. in fact there is not a solid strategy or system as of now. all I have is few ideas. I'm trying to capitalize on that.

There is nothing special about me choosing NTPC for day trading. I just liked its price action at key levels. anyway.. consider this as an experiment.

Every day I'll be opening 1000 NTPC at the opening. orders for another 1000 and 2000 will be placed at the same time.there will be a maximum of 3 trades at any given day. there is no stop loss orders.I'm not placing a target price as of now. I'll just wait until the broker closes the trades either with a profit or loss. may be this will change in the future. the direction of the trade is decided by something out side of the box. so leave that to me

Any feed back and comments which may help me to refine this method is welcome.

ps:My account balance is around 190k(it was 200k and i lost 10k in a few plays).anyway 90k is what I'm going to set aside for this experiment.

Be very cautious with market NOW.It is highly in Over-brought condition
likes to lose significantly in next 5 or 6 days.

 

[yasirdxb]

While You Have Not Outlined Your Strategy Of Whether Going Long Or Short
Here Are Some Points, Considering You Are Going 1000 At A Time:

a) It Has Good Weightage On Nifty
b) I Have It As BuyHold.

This Would Have Been More Suited To Reliance...Just My Opinion

By The Way Did You See The Downward Spike On USDJPY In The Evening Today......

Best Of Luck

Happy & Safer Trading

SavantGarde

Why is this method more suitable for reliance? actually this is kind of averaging down. thanks to columbus for the other post on averaging in intra day trading.

by the way, i have seen the spike. it was across the board caused by Geithner's blunt statement about dollars reserve currency status. later he clarified the comments and the Dollar rose.

Yasir.

 

[yasirdxb]

Be very cautious with market NOW.It is highly in Over-brought condition
likes to lose significantly in next 5 or 6 days.

May be. I myself have closed my nifty futures yesterday. But today the market was stronger than I expected. OI is also on the rise. lets wait n see.

The above 'Thanks' is for your other post on averaging.

 

[SavantGarde]

Hi Yasir,

If You Have Been Tracking For Sometime Then You Would Know.

Anyways, Not Exactly Knowing How You Are Going To Trade NTPC.

I Know While This Is Unsolicited By You....I Would Still Like You To Know & It Just Maybe Extra Help.

If You Have RT Data,

Then Open The Chart For NTPC With The Following Parameters:

a) Chart With Bar or Candles
b) Overlayed With BB (Close 9,2)
c) Overlayed With Multiline SMAs (5 & 6) Different Colours
d) TF Of M10 or M15
SMA Crossovers Are The Key For Entry & Exit & BB Can Give You A Few Bonus Trades On The Side.....While You Just Ride The SMAs All The Time & S/L Is Also Built Into The Movement...Therefore No Need To Keep A Separate S/L If You Are Observing The Chart

Happy & Safer Trading

SavantGarde

Why is this method more suitable for reliance? actually this is kind of averaging down. thanks to columbus for the other post on averaging in intra day trading.

by the way, i have seen the spike. it was across the board caused by Geithner's blunt statement about dollars reserve currency status. later he clarified the comments and the Dollar rose.

Yasir.

 

[SavantGarde]

Hi Yasir,

Here Is The Chart For USDJPY With My Settings, Only SMA Combination Is Different For USDJPY.

Happy & Safer Trading

SavantGarde

 

[yasirdxb]

Hi Yasir,

If You Have Been Tracking For Sometime Then You Would Know.

Anyways, Not Exactly Knowing How You Are Going To Trade NTPC.

I Know While This Is Unsolicited By You....I Would Still Like You To Know & It Just Maybe Extra Help.

If You Have RT Data,

Then Open The Chart For NTPC With The Following Parameters:

a) Chart With Bar or Candles
b) Overlayed With BB (Close 9,2)
c) Overlayed With Multiline SMAs (5 & 6) Different Colours

SMA Crossovers Are The Key For Entry & Exit & BB Can Give You A Few Bonus Trades On The Side.....While You Just Ride The SMAs All The Time & S/L Is Also Built Into The Movement...Therefore No Need To Keep A Separate S/L If You Are Observing The Chart

Happy & Safer Trading

SavantGarde

Thanks for the tips.

The problem is that I wont be able to watch the chart all the time, at least for now. becoz I'll be engaged with some other markets. what I am trying to do is, pick some key levels and place the trades and forget it. the direction of the trade is decided beforehand. actually it has nothing to do with indicators.

to benefit from this method, I want the instrument(NTPC) go against me in intraday but go my way by the end of day.

For Ex:-

NTPC opens at 180. I buy 1000 at,say, 180.00 and places orders at 178 and 176, 1000 and 2000 shares respectively.so what I want is NTPC falls below 176 intrady but rises above 180.00 by the end of the day (ie:around 3:00 pm.) to have an ultimate winner. what I dont want is NTPC goes below 176 and stays there! that would be an ultimate loser.

what do you think?

 

[SavantGarde]

Have Understood, What You Have Outlined.

It's Also Ok If You Don't Want To Trade.

Since It Has Been An Underdog For Sometime, It Is A Good Bet, As Long As You Are Playing The Long Side On This, Unless An Until SMAs 6 Crosses Over 5, You Are Safer Playing Long For Now.

Thursday, Happens To Be Expiry Of All Futures & Options, Are You Sure You Want To Start This On Thursday & Not Friday....

By The Way I Wouldn't Call Them 'Tips'

Happy & Safer Trading

SavantGarde

Thanks for the tips.

The problem is that I wont be able to watch the chart all the time, at least for now. becoz I'll be engaged with some other markets. what I am trying to do is, pick some key levels and place the trades and forget it. the direction of the trade is decided beforehand. actually it has nothing to do with indicators.

to benefit from this method, I want the instrument(NTPC) go against me in intraday but go my way by the end of day.

For Ex:-

NTPC opens at 180. I buy 1000 at,say, 180.00 and places orders at 178 and 176, 1000 and 2000 shares respectively.so what I want is NTPC falls below 176 intrady but rises above 180.00 by the end of the day (ie:around 3:00 pm.) to have an ultimate winner. what I dont want is NTPC goes below 176 and stays there! that would be an ultimate loser.

what do you think?

 

[yasirdxb]

Have Understood, What You Have Outlined.

It's Also Ok If You Don't Want To Trade.

Since It Has Been An Underdog For Sometime, It Is A Good Bet, As Long As You Are Playing The Long Side On This, Unless An Until SMAs 6 Crosses Over 5, You Are Safer Playing Long For Now.

Thursday, Happens To Be Expiry Of All Futures & Options, Are You Sure You Want To Start This On Thursday & Not Friday....

By The Way I Wouldn't Call Them 'Tips'

Happy & Safer Trading

SavantGarde

Savant,

Don't misunderstand me. what i wanted to say is thanks for the strategy or for the useful information. I know the word "tips" has something ugly attached to it.

Yasir.