NIFTY Futures Mechanical Trading

[sillu_m]

Can we short nifity near 4900........will todays close is at resistance or should we consider this a breakout.
till thursday(expiry) what r the resistance or support level from ur side?

 

[nadodav]

NIFTY FUTURE For March 26,

Current position : Nil

Nifty Fut Closed at : 4884.90

Net Profit/Loss since thread started : +1581

Support : 4688
Resistance : 4892

Happy Trading.

Vinod

 

[nadodav]

Dear Asish, Optionstrader, Nandakumar, nitinku5021a & all

I am happy to see active participation and interest. as ashish said, if one follows any mechanical aproach consistantly, definetely should make money in our market. I firmly believe that, the discipline & money management are far more important than the system of trading. the mechanical system has more advantages than disadvantages as long as our market is concern. And as long as it works fine, we should continue to trade. I am also aware that at one point of time, the mechanical aproach will fail but till that time, why not trade and earn ?. The ideal way to start with small contract i.e. MINIFTY only.

I have yet not checked nitin's strategy & will reply after seeing it.

Thank you all
Happy Trading

Vinod

 

[nadodav]

I think if you have to play very safe we can keep the support/resistance as stop loss.Correct me if I am wrong.

Nandakumar

Support & Resistances are not daily support and resistance points but short term trend reversal points. so these points are nothing but stoploss points only. we take trade at ony point by keeping second point as a stoploss.

Vinod

 

[nadodav]

Can we short nifity near 4900........will todays close is at resistance or should we consider this a breakout.
till thursday(expiry) what r the resistance or support level from ur side?

The system is mechanical & does not predict anything. to take low risk trades, e.g. you are LONG and after 2-3 days upmove, one can reverse position early without waiting to trigger SL i.e. exit LONG & go SHORTt just below resistance (around 15-20 points below) by keeping resistance + 10 points as SL and if you are SHORT and after 2-3 days down move, can exit SHORT and go LONG just below support by keeping support - 10 points as SL. We are actually not only trying to get maximum posible gain in current trade but also enter next trade very early with minimum possible risk. In any case if SL triggers, you can continue with your original position.

This can be done even only in intraday basis also and if you have good gain in that trade, can reverse again to go back original position to add additional points. off-course, one need confidence and expiriance to trade.

Thanks

Vinod

 

[sillu_m]

Thanx dear.....today shorted nifity future at 4910 and covered later...ends up with profit.

 

[nadodav]

NIFTY FUTURE For March 27 - For April Contract,

Current position : Nil

Nifty Fut Closed at : 4841.10

Net Profit/Loss since thread started : +1581

Support : 4735
Resistance : 4851

Will go LONG above 4851 with SL 4735 or go SHORT below 4735 with SL 4851

Happy Trading.

Vinod

 

[nitinku5021a]

Hi Vinod,

Thanks for the reply. I am attaching the excel sheet simulated upto May 2007. Though I haven't yet started it mechanically but on the way to start it soon. Currently i do a little intraday trade on MINIFT and only for 1 lot.

Need lots of learning before i get into it on fulltime basis.

PS* Last 2 continous day ...made loss but learnt new lessons ..how emotions come into play in the realtime trade and the main cause of loosing !!

Regards
Nitin

 

[nadodav]

NIFTY FUTURE For March 28,

Current position : LONG (at 4851 on 27/03/2008)

Nifty Fut Closed at : 4853.20

Profit/Loss in current trade : +2.20 (as per last closing price)
Net Profit/Loss since thread started : +1583.20 (1581.00+2.20)

Support : 4789
Resistance : 4910

Hold LONG positions with SL 4789. If trades below 4789, Exit LONG & go SHORT with SL 4910.

Happy Trading.

Vinod

 

[uasish]

NIFTY FUTURE For March 27 - For April Contract,

Current position : Nil

Nifty Fut Closed at : 4841.10

Net Profit/Loss since thread started : +1581

Support : 4735
Resistance : 4851

Will go LONG above 4851 with SL 4735 or go SHORT below 4735 with SL 4851

Happy Trading.

Vinod

Hey to-day 4851.00 coincided with my 60 min chart.