NIFTY Futures Mechanical Trading

[nadodav]

NIFTY FUTURE For January 15,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 6224.75

Profit/(Loss) in current trade : -14.75 (as per last closing price)
Net Profit / (Loss) since thread started : +352.25 (367.00-14.75)

Support : 6165
Resistance : 6248

Hold SHORT positions with SL 6248. If trades above 6248, exit SHORT & go LONG with SL 6165.

Happy Trading.

Vinod

 

[rsri54]

hai

I am new to this forum. (but not to stock trading)

as Sir Arthur Conan Doyle once wrote, it is very difficult to foresee one man's reaction to a given situation, but it is very easy to predict of a crowd/group.

your strategy seems based much on the psychology of group behaviour and hence more reliable.

good luck.

 

[nadodav]

NIFTY FUTURE For January 16,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 6071.40

Profit/(Loss) in current trade : +138.60 (as per last closing price)
Net Profit / (Loss) since thread started : +505.60 (367.00+138.60)

Support : 6041
Resistance : 6187

Hold SHORT positions with SL 6187. If trades above 6187, exit SHORT & go LONG with SL 6041.

Happy Trading.

Vinod

 

[sudoku1]

NIFTY FUTURE For January 10,

Current position : SHORT (at 6224 on 08/01/2007)

Nifty Fut Closed at : 6264.40

Profit/(Loss) in current trade : -40.00 (as per last closing price)
Net Profit / (Loss) since thread started : +496.60 (537.00-40.40)

Support : 6210
Resistance : 6302

Hold SHORT positions with SL 6302. If trades above 6302, exit SHORT & go LONG with SL 6210.

Happy Trading.

Vinod

FRIENd , U WERE SHORT @ 6224 @ ur stoploss was hit first ...a loss of 80 pts...
then as per ur theory ,u go long @ 6302 & stoploss for longs was 6210...that was hit on the same day....again a loss of 100 pts....
from there u took a short position @ 6210...
so a loss of 180 pts ....
u have not taken into a/c the 180 pts hit....
can u xplain the same......????
just a curiosity ....

 

[nadodav]

FRIENd , U WERE SHORT @ 6224 @ ur stoploss was hit first ...a loss of 80 pts...
then as per ur theory ,u go long @ 6302 & stoploss for longs was 6210...that was hit on the same day....again a loss of 100 pts....
from there u took a short position @ 6210...
so a loss of 180 pts ....
u have not taken into a/c the 180 pts hit....
can u xplain the same......????
just a curiosity ....

Dear sudoku1,

Pl refer my message on page no 17. I have explained in detail about these transaction.

Vinod

 

[nadodav]

hi vinod,

the markets have gone well below the support level. would it be possible for you to post the next support/resistance levels during market hours so we can exit at a better price (as its moving upwards now)?
thanks
nitin

Hi Nitin,

support & resistance levels are calclated on closing prices. so it is not possible to give you intraday.

Vinod

 

[nadodav]

NIFTY FUTURE For January 17,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 5947.65

Profit/(Loss) in current trade : +262.35 (as per last closing price)
Net Profit / (Loss) since thread started : +629.35 (367.00+262.35)

Support : 5908
Resistance : 6083

Hold SHORT positions with SL 6083. If trades above 6083, exit SHORT & go LONG with SL 5908.

Happy Trading.

Vinod

 

[aabhi06]

Dear Vinod,
All losses recover & we are in profit now ,gr888.

 

[ravalsb]

Hi Vinod,

I have read through all the threads. Its quite an effort. Only a discplined and dedicated person can achieve this. I really appreciate your efforts. Keep up the good work.

If this thread continues like this for sometime, i am sure even you would be declaring dividends and bonuses to all of us.

I have two questions for you:

1. You seem to be calculating support and resistance as a standard deviation of 12day moving average. Is that true.

2. While we are long, can we exit immediately when Price falls below moving average instead of waiting for support to be broken and go short there and then wait for resistance (earlier support level) to be breached. May be that would limit our losses considerably.

Happy Trading

 

[Dr.ANAND]

Dear All,

I am starting a new thread for Nifty Futures Traders. I am successfully following my own trend following mechanical trading system for NIFTY futures which i would like to share with you all. I will be posting daily two levels i.e. support & resistance for nifty futures alongwith my current position. These support & resistance are short term trend reversal points and not daily support & resistance levels though it has also worked very well in so many ocassions. My daily posting will look like this -

NIFTY FUTURE For October 29,

Current position : LONG (at 5479 on 25/10/2007)

Support : 5573
Resistance : 5728

Hold LONG positions with SL 5573. If trades below 5573, exit LONG & go SHORT with SL 5728

This means, we are currently LONG in Nifty. And if nifty trades below support i.e. if on Oct 29, Nifty futures trades below 5573 for 2-3 minutes, we will exit LONG & go SHORT with SL as resistance. in this case it is 5728. Incase of SHORT positions, we will look for market to trade above resistance to exit SHORT & go LONG.

So we are simply continuously will be in trade at any point of time either LONG or SHORT. there is no need to book profit as it will be taken care by these level it self. We will capture major part of short term trend in both ways i.e. up as well as down.

Whenever market trades rangebound, than we may have some series of small losses as trend following system will fail in rangebound market. So i request you all initially just watch the levels before putting actual money into trade. I request you to simply paper trade and keep records in excel sheet for atleast two months & once you confident enough, you can trade.

those who are new to futures trading, i think this will be the right place to learn trading futures in more disciplined way. every time you take any positions, you know what will be your exact loss if it goes against you so your emotions, fear etc will be removed.

Pl post your comments, views & feedback.

Vinod Nadoda

Updated on 24/11/2007

I have attached "Nifty fut.xls" till date which may be useful to keep track with my levels. i will keep updating on weekly basis here. Last one year result alongwith trades are also attached.

Vinod Nadoda

Hello,
I am fresh entry to this site and this mail ia the 1st message I had just read, for which I am looking for quiet some time.I am doctor with Anaesthesia specialisation working in Mysore as professor of Anaesthsia in Mandya medical college, Mandya, Karnataka.
Ihave entered trading afresh in 2004 and started f&o in 2005.Doing good lot of money and everything and much more I had lost in 2006 market collapse, from which I am yet to recover.
Very recently I entered into only nifty trading.Your trade is very nice in 2007 and I want to follow it.Pl let me know what is the basis of arriving at support and reasistance level.