Nifty Futures Trading
- Thread starter uasish
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In the heat of Mkt. while trading lost count,when my 10000th post to this Forum occured,frankly 99% percentage of these are 1 liners,actually of no use.
After now almost 3 yrs 3*365= 1095 days association in this Forum nobody can say i was not vocal.
After now almost 3 yrs 3*365= 1095 days association in this Forum nobody can say i was not vocal.
Asish da,
When ever I get frustrated with trading I analyze your trades on historical charts. Your one liners have taught me the maximum, actually, those are the most useful posts for me.
Regards.
U
This thread though for Intraday,being Saturday wanted to express one of my views regarding Upmove or Rally.
I used to have lots of confusion (still have) when trying to understand in a confirmed down move which bounce upwards is going to last & which one is again going to fizzle out.Burnt my fingers trying to catch the bottom & 90 % times lost money.
Looking at indicators increased my losses,say RSI ,it shows divergence ,i buy still it continues to show divergence & finally when price starts to rise ,it is already 2 % below my Entry (in intraday) & the urchin price only rises for max 1 % & again goes down.
Then after burning many midnight oils ,whole heartedly tried to construct an indicator of my own ( still available in world's renowned websites like Guppy ,even Equis acknowledged that Metastock indicator,also available in this forum).Thought now Life would be full of Roses.The hit % of 10 % earlier increased to 40 % ,so still 60 % of the time i was loosing trying to catch the bottom.
Then my Screen Time experience taught me one very important aspect of understanding these upmove rallies.
Contrary to what is written in the Books & taught by several Gurus.
Found all rallies are never started by Bulls (or Longs) but 1st it starts with Bears ( by Short Covering).A very WRONG notion got shattered (another piece of un-learning).Rallies in extreme down situations are Bear Rallies,triggered by Short coverings.
So i started looking at charts in that perspective & found another important aspect that after the initial sharp Bear Rally ,in the retracements ,IF THERE IS A BUY IN DIPS with volume then ; only then ; the first foot steps of Bulls (Longs) are registered in the chart.That entry is Safe & started giving atleast 55 % success.
This holds true in any Time Frame.
I used to have lots of confusion (still have) when trying to understand in a confirmed down move which bounce upwards is going to last & which one is again going to fizzle out.Burnt my fingers trying to catch the bottom & 90 % times lost money.
Looking at indicators increased my losses,say RSI ,it shows divergence ,i buy still it continues to show divergence & finally when price starts to rise ,it is already 2 % below my Entry (in intraday) & the urchin price only rises for max 1 % & again goes down.
Then after burning many midnight oils ,whole heartedly tried to construct an indicator of my own ( still available in world's renowned websites like Guppy ,even Equis acknowledged that Metastock indicator,also available in this forum).Thought now Life would be full of Roses.The hit % of 10 % earlier increased to 40 % ,so still 60 % of the time i was loosing trying to catch the bottom.
Then my Screen Time experience taught me one very important aspect of understanding these upmove rallies.
Contrary to what is written in the Books & taught by several Gurus.
Found all rallies are never started by Bulls (or Longs) but 1st it starts with Bears ( by Short Covering).A very WRONG notion got shattered (another piece of un-learning).Rallies in extreme down situations are Bear Rallies,triggered by Short coverings.
So i started looking at charts in that perspective & found another important aspect that after the initial sharp Bear Rally ,in the retracements ,IF THERE IS A BUY IN DIPS with volume then ; only then ; the first foot steps of Bulls (Longs) are registered in the chart.That entry is Safe & started giving atleast 55 % success.
This holds true in any Time Frame.
Asish da one confusion, what about equity buying and selling? those buying and selling is delivery base, so there wont be any short coverings( i am talking about shares which are not tradable in derivative segments, otherwise 90 % limit i set for derivatives) at those instances how we going to apply the rule ? also did u have any say on delivery base % to total traded quantity at EOD ?
P.S. Though i am no expert , my two scents on divergance
I agree divergance dont play well if market is in trend, as the case with everything, it can assist to what we see on chart.If there is ' belt hold bullish ' pattern or engulfing pattern etc and also a divergance in hand it can be above 60 % thing.
P.S. Though i am no expert , my two scents on divergance
I agree divergance dont play well if market is in trend, as the case with everything, it can assist to what we see on chart.If there is ' belt hold bullish ' pattern or engulfing pattern etc and also a divergance in hand it can be above 60 % thing.
This is solely because of the Myth around the words Bulls and Bears, and we avoid putting some efforts in trying to find more about the Bulls and the Bears in real life.
Once reality is understood, rest all falls in places.
And the reality was posted in -
http://www.traderji.com/derivatives/23534-food-thought-post214290.html#post214290
Cheers!
Once reality is understood, rest all falls in places.
And the reality was posted in -
http://www.traderji.com/derivatives/23534-food-thought-post214290.html#post214290
Cheers!
U
Many of our members in Kolkata know i normaly buy RIL / SBI / INFY / TISCO in 'Muharat' & these are never kept at my Indiabulls A/C becoz with any down swing i would invariably sell those,so they are in ICICI Direct & normaly when monthly chart gets violated then they are Sold out.
These are again bought at Reversal ,like wise the Qtys increased without investing a single Rs more.
All these strategies based on EoD where very well demonstrated & documented in one of my past Thread ,probably by the name .........Balarampur Chini.Where it was shown how few 100 shares of Balarampur Chini was made Free of cost in a time span of few weeks.
There in that thread the Entry & Exit where made & reported in at the thread in Live Mkt,all price with Stop .Everyday the Stop was mentioned at 10.00am & all Exits & their strategies mentioned in full.Dont have the time & patience to start it once again,i never believed on distributing 'Gyan' but by Demonstration only.
These are again bought at Reversal ,like wise the Qtys increased without investing a single Rs more.
All these strategies based on EoD where very well demonstrated & documented in one of my past Thread ,probably by the name .........Balarampur Chini.Where it was shown how few 100 shares of Balarampur Chini was made Free of cost in a time span of few weeks.
There in that thread the Entry & Exit where made & reported in at the thread in Live Mkt,all price with Stop .Everyday the Stop was mentioned at 10.00am & all Exits & their strategies mentioned in full.Dont have the time & patience to start it once again,i never believed on distributing 'Gyan' but by Demonstration only.
U
There is a growing fierce hatred for FIIs amongst us.
Who has told us not to do what they are doing,they have bought something at Rs 10.00 ,OK i could smell it at Rs15.00 ,then i also buy ,they are selling @ 100.00 ,i could smell that in chart at Rs 90.00 ,i also sell.
Lamenting & crying is for babies & women,who has given me a 'Paobandi' that i cant also Long or Short in Futures,maybe they would do it in 10000 contracts i would chip in with couple of lots,that is the ONLY difference between a FII/DII/OPERATOR & me ,so the difference is just position sizing.
Accept like i have humbly accpeted that i am uncapable to understand the Footsteps of these Smart Money in the Charts.My inability,not their fault.Who has told me that Mkt is full of roses,there are sea of sharks ready to pounce on my money,it is my responsibilty to save my Money not Govt's responsibilty.
Think when in last so many years when a Rs 40.00 stock skyroceketed to Rs 3000.00 ,did we EVER complain,that time any of my posts where ridiculed that i could not see VALUE.
Who has told us not to do what they are doing,they have bought something at Rs 10.00 ,OK i could smell it at Rs15.00 ,then i also buy ,they are selling @ 100.00 ,i could smell that in chart at Rs 90.00 ,i also sell.
Lamenting & crying is for babies & women,who has given me a 'Paobandi' that i cant also Long or Short in Futures,maybe they would do it in 10000 contracts i would chip in with couple of lots,that is the ONLY difference between a FII/DII/OPERATOR & me ,so the difference is just position sizing.
Accept like i have humbly accpeted that i am uncapable to understand the Footsteps of these Smart Money in the Charts.My inability,not their fault.Who has told me that Mkt is full of roses,there are sea of sharks ready to pounce on my money,it is my responsibilty to save my Money not Govt's responsibilty.
Think when in last so many years when a Rs 40.00 stock skyroceketed to Rs 3000.00 ,did we EVER complain,that time any of my posts where ridiculed that i could not see VALUE.
U
Volume is one of the Key to understand.
Had a very Wrong Notion earlier regarding Volume ,these Smart Money Buy in Black Candels,yes they buy in DOWN days & they Sell in White Candels.
Plz go thru Karthiks thread in Advanced Section,we can get an idea.
Do not always belive what we read but see what Screen says what Mkt says.
A person (like me) who looses few Lacks believing these craps written in Gr8 books always become very very sckeptical & only believes what Mkt is trying to say.
The Nifty Fut bounced from 2228 ,look at Tick chart any clue whatsoever,then how come the down fall was arrested in that 50-100 points zone,the answer is there not in the books or Guru's gospel boss.
Had a very Wrong Notion earlier regarding Volume ,these Smart Money Buy in Black Candels,yes they buy in DOWN days & they Sell in White Candels.
Plz go thru Karthiks thread in Advanced Section,we can get an idea.
Do not always belive what we read but see what Screen says what Mkt says.
A person (like me) who looses few Lacks believing these craps written in Gr8 books always become very very sckeptical & only believes what Mkt is trying to say.
The Nifty Fut bounced from 2228 ,look at Tick chart any clue whatsoever,then how come the down fall was arrested in that 50-100 points zone,the answer is there not in the books or Guru's gospel boss.
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