Nifty Futures Trading

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

OMG I am holding some shorts overnight!

(And what's worse the one i bet on hasn't cracked as much as expected)

Regards,
Kalyan.

.....good for you,my friend.

But I can't wait for my morning newspaper with headlines like BLOODBATH,MAYHEM,CATASTROPHE,MELTDOWN,etc...........probably TOI would have some red colour a la blood,etc

Saint

 

[kkseal]

Re: Time to Stick my Neck Out ,Nifty 7300

But Saint, lot of bullish signals also. Commodities are suddenly plummeting Dow futures recovering. So what if Dow closes in the green & we have a Gap UP tomorrow? I was banking on the fact that Bears Stearns has been bought at $2 & the LTP was $30 So it'll come down to at least single digits pulling down the US mkt with it. But what if the deal changes (goddamn) 'sentiment' in the stock? (Maybe i fell prey to a bear trap)

Regards,
Kalyan.

 

[nagendra_gb]

Re: Time to Stick my Neck Out ,Nifty 7300

dow up 33 points :-(

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

But Saint, lot of bullish signals also. Commodities are suddenly plummeting Dow futures recovering. So what if Dow closes in the green & we have a Gap UP tomorrow? I was banking on the fact that Bears Stearns has been bought at $2 & the LTP was $30 So it'll come down to at least single digits pulling down the US mkt with it. But what if the deal changes (goddamn) 'sentiment' in the stock? (Maybe i fell prey to a bear trap)

Regards,
Kalyan.

As for me,am flat today........so whatever happens can be dealt with.

As for yourself,if Gap up is huge,look to cover and reverse.......but all that depends on tomorrow's open.So,for now,let's see how things go....

Saint

 

[kkseal]

Re: Time to Stick my Neck Out ,Nifty 7300

Yeah, let's see. This the problem of holding overnight positions in uncertain zones. (Nifty incidentally is still in dbl bottom zone, though Sensex has cracked)

Regards,
Kalyan.

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Saint,
Have a question, if you dont mind.
You had 3 Long trades today, in a day where Nifty made successively lower tops and bottoms. Agreed, may be 5-min chart/trendline break gave those trades etc. But my question is why didnt you initiate any Shorts today. (as per my understanding of charts, a trader would have initiated a Short at 12:44 pm(nifty level 4566) and at 2:26 pm (nifty 4534)).

Is it bec we feel going long is the only trade to take in a gap-dn opening? If thats the case (i) are we not getting fixated in our opinion while ignoring what charts say and (ii) Hypothetical situation-Suppose you were told that what you are trading is not Nifty but XYZ share and there is no news available on its yesterdays price move ( you are unaware of gap down), would you have traded the same way as you did today.

In case my question offended you, I apologise in advance and am very sorry. I hope to see things from your perspective and gain some knowledge so as to become as good a trader as you are.

Rakesh.

Rakesh,I will put this as simply as I can.

You are totally right.....and I was wrong. I fell into the great trap of anticipating a move,instead of following the move

Well said,and I look fwd to more inputs from you.

Thank You!

Saint

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Yeah, let's see. This the problem of holding overnight positions in uncertain zones. (Nifty incidentally is still in dbl bottom zone, though Sensex has cracked)

Regards,
Kalyan.

Yep.....best to lay off the overnights during these times!

Saint

 

[pshirurkar]

Re: Time to Stick my Neck Out ,Nifty 7300

Dow and nas both are down now . where is the bottom of our market???

 

[rakeshluthra430]

Re: Time to Stick my Neck Out ,Nifty 7300

Rakesh,I will put this as simply as I can.

You are totally right.....and I was wrong. I fell into the great trap of anticipating a move,instead of following the move

Well said,and I look fwd to more inputs from you.

Thank You!

Saint

Hi Saint,
Cant believe I was right. Do you mean it or trying to put me off.
Assuming I was right, I have one more question: The margin of error in day trading is lesser as compared to positional tradnig. Agreed that stop loss/position size relationship would make risk/rew look similar if not better in day trade, but a good batsman would always have a better average in test match rather in 20-20.
What acc to you are points in day trading that score over position trading. I am asking this because you do day trading.

I have read in many articles and also discussed with a very senior and respected member of this forum (via PM) to understand that technicals work better as the time span is increased. So my question comes in light of this.

Apologies for bothering you agaon but I know that the patience Saints have and the patients doctors have is immense.

Rakesh.

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Saint,
Cant believe I was right. Do you mean it or trying to put me off.

No,Rakesh......no ulterior motive to put anyone off whatsoever.

Assuming I was right, I have one more question: The margin of error in day trading is lesser as compared to positional tradnig. Agreed that stop loss/position size relationship would make risk/rew look similar if not better in day trade, but a good batsman would always have a better average in test match rather in 20-20.
What acc to you are points in day trading that score over position trading. I am asking this because you do day trading.

No overnight risk......and with the SL not too far away,get to play many more contracts.........and yes,better averages probably in position trading,but more money made if you do it right in this form of trading......oh well,probably many more pointers,these two come to mind.....Finally do what works best for you.

I have read in many articles and also discussed with a very senior and respected member of this forum (via PM) to understand that technicals work better as the time span is increased. So my question comes in light of this.

Hmmm....never knew that.Thought was the other way around.

Apologies for bothering you agaon but I know that the patience Saints have and the patients doctors have is immense.

Rakesh.

Ah,pun understood........once again,no apologies!

Rakesh,you are not new to this........don't sound like a newbie!

Saint