Nifty Futures Positional Trading

[toocool]

Ready to take a positional short at 6029.35 (Spot); SL 79 points.

Open was at a 150 point Gap which placed the right level of entry is very far. If the day closes strongly in my direction I will hold. Else will exit EOD.

I am not here to distract you or anything from your system, so it's a humble request please take my word lightly but seriously too.

I am sure you here in the markets are to make money? I am also a swing trader and I don't know why but it's the second time I have seen you preparing for taking opposite direction trade, that both time didn't trigger. I see a problem here.

See I also wanted to take a position yesterday on the long side, and the only reason I didn't because I was not comfortable with news based event in between, and hence I lost a move there was 100% a long entry for me had the markets opened 30-50 points higher today and then it built-up the gains but no why would that happen

I think you as a positional trader are going ahead of yourself and trying to predict what's gonna happen next............... By doing this you are loosing the perspective of what's happening now. You talked about some historical moment which showed you how markets last time got short breathed.............. But you must understand that every every every moment in the markets are a unique moment and it should be behaved with some the process which most likely will reward you rather than leaving you empty handed.............. Which you and I are for today

I should have even long the markets @6050 without a doubt.......... Do you know why I didn't? Because of again a stupid event next morning.............. That stopped me again to buy +the huge gap up............. But i dont know what you think about fed meeting or RBI meet, may be you could be comfortable to still make entry irrespective of news, some traders do that.

But what I have observed about you is that you are ignoring the trend so much that you are leaving the great money on the table just because you're probably out of sync (or maybe I am not getting your trading style) .................... If you get 600 Points in Nifty by just surrendering to the markets......... Or you get 300 points by proving yourself right taking bold trades and feeling vindicated.......... What would you like to see? Is that feeling of vindication is better than more points?

Please reply if you want to otherwise no issues........ The way you trade makes a connection with me............. Positional style I am talking about

 

[toocool]

And about same type of exhaustive action you seen in past near 2 pivots

The theory of chaos says - even a negligible change in initial parameters can change the results drastically


chaos has brought us where we are , and chaos will take us in the future

https://www.youtube.com/watch?v=Qe5Enm96MFQ

 

[jamit_05]

I am not here to distract you or anything from your system, so it's a humble request please take my word lightly but seriously too.

I am sure you here in the markets are to make money? I am also a swing trader and I don't know why but it's the second time I have seen you preparing for taking opposite direction trade, that both time didn't trigger. I see a problem here.

See I also wanted to take a position yesterday on the long side, and the only reason I didn't because I was not comfortable with news based event in between, and hence I lost a move there was 100% a long entry for me had the markets opened 30-50 points higher today and then it built-up the gains but no why would that happen

I think you as a positional trader are going ahead of yourself and trying to predict what's gonna happen next............... By doing this you are loosing the perspective of what's happening now. You talked about some historical moment which showed you how markets last time got short breathed.............. But you must understand that every every every moment in the markets are a unique moment and it should be behaved with some the process which most likely will reward you rather than leaving you empty handed.............. Which you and I are for today

I should have even long the markets @6050 without a doubt.......... Do you know why I didn't? Because of again a stupid event next morning.............. That stopped me again to buy +the huge gap up............. But i dont know what you think about fed meeting or RBI meet, may be you could be comfortable to still make entry irrespective of news, some traders do that.

But what I have observed about you is that you are ignoring the trend so much that you are leaving the great money on the table just because you're probably out of sync (or maybe I am not getting your trading style) .................... If you get 600 Points in Nifty by just surrendering to the markets......... Or you get 300 points by proving yourself right taking bold trades and feeling vindicated.......... What would you like to see? Is that feeling of vindication is better than more points?

Please reply if you want to otherwise no issues........ The way you trade makes a connection with me............. Positional style I am talking about

I missed my long entry on the Daily chart as the breakout failure happened intraday on 28th Oct. In future, I have made changes to include such bars also.

I do not have any proven way to enter midway. I have backtested a few, but the results are lukewarm. May be if I traded 30 min charts I would have that capability also. But, as of now, I either catch the start of the trend or I miss the trend.

I know I am missing out. But, hope to sharpen my entries to not miss them in the first place, then rest all will be fine.

I see that the uptrend is well in place and going strong. I seek to short only when the trend formation gets clearly threatened, which I believe will be the case below today's Low.

I do not mind any sensible guy giving feedbacks. Most Welcome.

 

[jamit_05]

And about same type of exhaustive action you seen in past near 2 pivots

The theory of chaos says - even a negligible change in initial parameters can change the results drastically


chaos has brought us where we are , and chaos will take us in the future

https://www.youtube.com/watch?v=Qe5Enm96MFQ

I have had trouble with setting the entries right. I hope to straighten the record in the next month.

 

[jamit_05]

And about same type of exhaustive action you seen in past near 2 pivots

The theory of chaos says - even a negligible change in initial parameters can change the results drastically


chaos has brought us where we are , and chaos will take us in the future

https://www.youtube.com/watch?v=Qe5Enm96MFQ

I get your point. That history does not repeat itself on the charts. Well, it doesn't, not precisely. But it does repeat its inherent behaviour. Which is why we have successful discretionary traders.

My short entry is below today's LOD. If hit, then the odds of trend reversing to Down are high.

I do not profess to be a successful trader, but yes I do claim to see the light, what remains is basking in it

 

[sujesh141]

bank nifty tomorrow?

 

[bajica]

Did not get an entry... Entry filter was wide to ensure. And now it looks like I won't get an entry today.

Could you explain by showing on chart how your setup missed an entry?

Thanking in advance.

 

[jamit_05]

Could you explain by showing on chart how your setup missed an entry?

Thanking in advance.

See the taily white bar making the lowest low in the chart? That was a breakdown failure. I was unsure about it when it was on the right edge. If it were a black bar then my eyes would have caught it. Now, I have made a note to include large white bars also.

The Blue line was the long entry.

One may argue that the white bar on 2nd Sept was also a breakout bar and gave a failure the next day. But, it was a small bar. Not distinctly large as the bar on 28th Aug. Small bars do not make breakouts, only large ones reliably do.

I think i'd be better off having more entry signals. Because there may be several other variations of breakouts and failures which I may not have seen yet!

 

[jamit_05]

Could you explain by showing on chart how your setup missed an entry?

Thanking in advance.

Look at the same image. The last bar, yesterdays bar has made a breakout from a trading range. But with a big gap. Now, this could be another variation of a breakout. In that case, its LOD break would indicate a breakout failure.

And that is a potent entry.

 

[bajica]

Currently the LOD of previous day has been broken... does that make a short entry as per your setup??