Nifty Futures Positional Trading

[gkpc]

Wait till 2.30 for a trade to form...

Thanks jamit !
I dont take a new trade after 2:30, my trade must trigger by the time 2:30 bar is completed. After that I trade the existing trade if any and simply Exit on reversal !

 

[gkpc]

Short triggered while I wasposting. Short below 6044.80

 

[jamit_05]

Short pakda... <fingers crossed>

 

[jamit_05]

Short triggered while I wasposting. Short below 6044.80

What is your SL? I am at 6056.10

 

[jamit_05]

What is your SL? I am at 6056.10

And Hit... I am out of shorts... Now trades only at pure pivots.

 

[jamit_05]

Longs 6074.20
Short 6044.35

SL 11.5 points for both.

 

[jamit_05]

Longs 6074.20
Short 6044.35

SL 11.5 points for both.

Out of shorts at near breakeven... Kitna Tail maar raha hai !!

 

[rkkarnani]

What is your SL? I am at 6056.10

Mind writing the logic behind this SL ! ?

 

[jamit_05]

Mind writing the logic behind this SL ! ?

It is a difference in how one views his trades. Does he see them as a breakout or just another leg in the trade.

I was seeing this trade as a breakout, hence as per my backtested logic the SL is 13 odd points. It means, Price should not come back by much, its a breakout afterall. If it does I am out...

If I were seeing this as another leg down, then I would look for the nearest 5 min pivot to place my SL, which would be 6062.60, which you took.... AND made profit from the trade... while I took a stop hit

 

[rkkarnani]

Thanks for your reply.And Amit, why 13 points? Is it something you have observed in the past?