Nifty Futures Trading Part 2 (Positional)

[coolboy007]

Dow jones at one point sporting a gain of 200+ points is now negative with 30 points.

In every mkt every rally is getting sold into , it seems only fools like me went long from last week and booked losses.

Every1 is shorting and earning money , in my eg , i shorted this month and gained 27k went long for first time lost 10-12k

What more can i say ??

 

[columbus]

Dow jones at one point sporting a gain of 200+ points is now negative with 30 points.

In every mkt every rally is getting sold into , it seems only fools like me went long from last week and booked losses.

Every1 is shorting and earning money , in my eg , i shorted this month and gained 27k went long for first time lost 10-12k

What more can i say ??

Few days back ,I used to get losses whenever I go LONG.
So now-a-day I only short the market, but whenever
opportunity comes I will go long ,but for maximum of, a
couple of hours. I ,on rare occasions like y'day and before that
I took long position but with caution.

 

[coolboy007]

Few days back ,I used to get losses whenever I go LONG.
So now-a-day I only short the market, but whenever
opportunity comes I will go long ,but for maximum of, a
couple of hours. I ,on rare occasions like y'day and before that
I took long position but with caution.

You mean you and i saame to saame

Friend i have lost all hopes now and will only short mkts , yesterday did a paper trade of shorting minifty and guess what i was right that position is still open.

It seems theres no hope for bulls in short terms and even if we rally 600-700 point sensex we dont sustain that.
People here said that initial bounce in bear mkt can kill shorters but we have now fallen more than 50% and still no sign of that killer bounce

Now i have planned to only go with hedged positions even if it compromises 50% profit , the way volatility is these days.

My paper trade is Short on minifty from 3880 with a 3400 call at 105.

 

[rakamath]

dear coolboy,
all of us learn the lessons of life the hard way.
wish you all the best for the days ahead.

 

[pkamalesh]

As per the fibo ratio of 1.618 level, taking the 1st wave from 4300.5 and then the bottom of wave 1 which is 3715.

differece = 4300.5 - 3715 = 585.5

585.5*1.618 = 947.339

3715 - 947.339 = 2767.661

I think this is the level we need to look for now even before any bounce back...

satyam, alex plzz correct me if somethin is missin...

 

[satyamsit]

As per the fibo ratio of 1.618 level, taking the 1st wave from 4300.5 and then the bottom of wave 1 which is 3715.

differece = 4300.5 - 3715 = 585.5

585.5*1.618 = 947.339

3715 - 947.339 = 2767.661

I think this is the level we need to look for now even before any bounce back...

satyam, alex plzz correct me if somethin is missin...

kamalesh fantastic to see ur approach.keep it up mate. just want to tell one technical point, that u have counted 0-1 from 4300.5 but this time our down move had started from 4654. so any 5th wave projection we r making has to start from a definitive top we r looking at. in this case we have to take that 4654 top into account and then calculate. just go ahead and its on ur way and u r on its way as well.
and more thing again... fantastic approach....rock on!!!

 

[pkamalesh]

thanx for ur encouragement mate...ive done the calculations taking 4654 as the 0-1 wave..This indicates 3481...So what do we predict now???highly oversold????????

 

[learn2trade08]

dow's a nutcase.....now up by130 points.

 

[pkamalesh]

dow's a nutcase.....now up by130 points.

yeah...2 days back i thought it closed positive at 2 am but woke up to see it down by 500 points the other day,,,,Americans prove it everyday that primary education is a must...hehhehe

 

[satyamsit]

thanx for ur encouragement mate...ive done the calculations taking 4654 as the 0-1 wave..This indicates 3481...So what do we predict now???highly oversold????????

Kamalesh we to have take 0-1 amplitude first and then calculate 1.618 as we r not getting next waves, as soon it brks that tgt u came up from 0-1 instead of that we have to calculate 0-3 * .618. these r both 5th wave projections... and we have to work on that.... i'll request u to go by that book. please. it'll give u much better understanding.