Nifty Futures Positional Trading

[bajica]

Punched in my Long Stop Order at 5537.85, SL 42 Points.

I dislike taking trades with SL of more than 25 points, but there are many things in life that I dislike but must do.

Sorry for asking such a question over here...
but I could not get this sentence, "Punched Long Stop Order" followed by "SL".

Does it mean, that the order gets acitivated only after NF crosses 5537.85 or is it that your long SL is at 5537.85???

Thanks in advance for clarifying.

 

[jamit_05]

Sorry for asking such a question over here...
but I could not get this sentence, "Punched Long Stop Order" followed by "SL".

Does it mean, that the order gets acitivated only after NF crosses 5537.85 or is it that your long SL is at 5537.85???

Thanks in advance for clarifying.

You got it right.

order gets acitivated only after NF crosses 5537.85

Stop Loss is 42 points lower.

 

[vinst]

You got it right.

order gets acitivated only after NF crosses 5537.85

Stop Loss is 42 points lower.

jamit,

what's special about 5537.85 ?

 

[jamit_05]

jamit,

what's special about 5537.85 ?

Only thing special about this number, is the fact that it is a reflection. It reflects how honest the trader is about following his system.

 

[jamit_05]

We are at 0.50 Ret of the last down leg from 5754 to 5254. This level also has a daily pivot high and resistance from EMA 15.

 

[Einstein]

@Jamit. if QE3 announce its cutting to 65 billion or less. at levels do you see nifty heading??

 

[jamit_05]

@Jamit. if QE3 announce its cutting to 65 billion or less. at levels do you see nifty heading??

Its hard to say. Some of it is factored in. But, if FED does set-in a hawkish trend then my best guess is 2011 lows of 4500 is on the cards.

On the other hand, if RBI cuts rates, which seems to be a possibility, then Nifty may get more bullish may even touch all time highs. But, that is in the short term.

But, all of this is just talk if one does not have a mental structure to convert it to cash.

 

[jamit_05]

Punched in my Long Stop Order at 5537.85, SL 42 Points.

I dislike taking trades with SL of more than 25 points, but there are many things in life that I dislike but must do.

Long Order raised tad-bit higher at 5553.70
SL 42 points.

 

[whisky]

Its hard to say. Some of it is factored in. But, if FED does set-in a hawkish trend then my best guess is 2011 lows of 4500 is on the cards.

On the other hand, if RBI cuts rates, which seems to be a possibility, then Nifty may get more bullish may even touch all time highs. But, that is in the short term.

But, all of this is just talk if one does not have a mental structure to convert it to cash.

RBI cutting rates is doubtful

 

[jamit_05]

RBI cutting rates is doubtful

Then Nifty is doomed! There is nothing else that can keep Nifty from touching 4500.

I think RBI will use this silver bullet at least once. FM will coerce.