Nifty Futures Trading

[learn2trade08]

yup,
looks like praveens prayers and satyajit sir's south Indian trip has had an impact...
i hear some one just shouting 4400(opening bell)...
all the best.

I have shorts open from 4624, 4476 and 4439..dont feel like closing..being a bit greedy.. any suggestions?

 

[rishig38]

why do you think you are greedy when you are with the trend

i am definitely with the trend but everyone always suggests that either I should book partial profits (which Ive been doing so far or risk loosing all your profits) and at the same time put in appropriate stop losses...

Now I am thinking of stop booking profits and just keep moving stop losses to appropriate intervals..is that better than booking small profits?

 

[praveen taneja]

yup,
looks like praveens prayers and satyajit sir's south Indian trip has had an impact...
i hear some one just shouting 4400(opening bell)...
all the best.

sir are u sure that calll was for 4400 not for 3400

 

[rishig38]

sir are u sure that calll was for 4400 not for 3400

dont get so excited praveen...some times the calls are right and some times wrong..lets keep going with the trend...you never know if the trend stays like this we might touch 3400 as well...so lets just hope for the best....

 

[Czar]

i am definitely with the trend but everyone always suggests that either I should book partial profits (which Ive been doing so far or risk loosing all your profits) and at the same time put in appropriate stop losses...

Now I am thinking of stop booking profits and just keep moving stop losses to appropriate intervals..is that better than booking small profits?

No what you did the adding was correct, but a trailing stop will suit best as you can maximize profits

check the 60 mins thread by Saint, they are positional nifty trades & would help you deciding trailing stop...

 

[rishig38]

No what you did the adding was correct, but a trailing stop will suit best as you can maximize profits

check the 60 mins thread by Saint, they are positional nifty trades & would help you deciding trailing stop...

I'll do that..ill position my trailing stop losses..but what about putting in trailing stop losses and adding new positions? How does that work? When to decide we can enter in some position and where should the stop loss be for that?

For example, I might have opened up a short from 4624 and putting in trailing stop losses, but when I added new short at 4439 (when should I have entered?), where should I place my stop loss? I might be making money on my opening position of 4624 but losing more money on my new position at 4439. This is something that I am still learning and would need some help with.

 

[Czar]

just start reading from this last page & go reverse you will have every question you asked, answered & stop losses & adds spoon fed till you get the knack of it...

http://www.traderji.com/equities/21903-going-60min-flow-196.html

PS: Warning: there are all geniuses there so read carefully b4 you ask a question, even I get scared asking

 

[kapil123]

I'll do that..ill position my trailing stop losses..but what about putting in trailing stop losses and adding new positions? How does that work? When to decide we can enter in some position and where should the stop loss be for that?

For example, I might have opened up a short from 4624 and putting in trailing stop losses, but when I added new short at 4439 (when should I have entered?), where should I place my stop loss? I might be making money on my opening position of 4624 but losing more money on my new position at 4439. This is something that I am still learning and would need some help with.

Adding to the winning trades is a good strategy. But addition to the position should be done at a logical level/trigger e.g break of a particular important level. Further additions to the position will also depend on your Risk Profile. Be sure not to overtrade, as overtrading can certainly be bad for trading.

As for the stop loss, I think there would same stop loss for the entire position. Now, you need to keep trailing this SL according to the strategy adopted and the time frame.

Cheers,
Kapil

 

[rajaram.dilipkumar]

i am definitely with the trend but everyone always suggests that either I should book partial profits (which Ive been doing so far or risk loosing all your profits) and at the same time put in appropriate stop losses...

Now I am thinking of stop booking profits and just keep moving stop losses to appropriate intervals..is that better than booking small profits?

rishi,when everyone told you were wrong you held on to your shorts and look who is right today .....yes you have to put stops but do what you are comfortable doing... most of them in this thread are scalpers (those who play with 10-20 pts) hence their attitude towards trading may not necessarily work for you ......as i understand you are a position trader and any kind of trader needs these kind of large profits to offset inevitable losses .so far you have done everything right
1.you have added more to a winning position while most of us here are no.1 in taking whatever profits we get..
2.you have so far stayed with your winning position while most of us would have entared,exited,entared.......a 100 times..thereby making our brokers also rich.
3.you are not thinking about taking profits on a trailing basis which again is the way to trade .... we should only take profits when the trend has changed (imagine if this trend ends at 4200 and you have booked out at 4400 you will have no one else to blame but yourself...it might go to 4500 also but the question is did we give ourselves the best chance to make maximum out of the trend)
Now back to monday morning , if the market gaps up dont think that others were right, as there will always be a "i told u before" gang(iam also part of that gang everywhere...

 

[tinchu76]

Are we off for Tomorrow??