Nifty Futures Trading

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

raising sl to 4785

Saint

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Saint, asish , ajax
i have attached a 5min nifty spot chart ,, as in the chart there was a gap up day then 3 false break out of 5 min high of the bar if one entered before closing of the bars and exited when closed below 5 min high then he must be whipsawed 3 times ..... how to deal with this kind of situation .......or do u wait for the stop loss to hit and reverse the trade ..... little bit confuse

Waiting a reply



Regards
Satya

Hi Satya!

Please use NIFTY Future chart. The SL will be much lower. Once we have entered our Sl is below the low of first 5-min bar and hence the whipsaw is only once and not thrice.

Personally, I use both Spot & Future chart for taking this entry.

Regards,
--Ashish

P.S.:- Moved SL to 4785.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

raising sl to 4785

Saint

Today I have become a perfect Saint Disciple.

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Saint, asish , ajax
i have attached a 5min nifty spot chart ,, as in the chart there was a gap up day then 3 false break out of 5 min high of the bar if one entered before closing of the bars and exited when closed below 5 min high then he must be whipsawed 3 times ..... how to deal with this kind of situation .......or do u wait for the stop loss to hit and reverse the trade ..... little bit confuse

Waiting a reply



Regards
Satya

Satya,

I don't deal with it........

I take the 5min high,put my stop at 5min low bar,get stopped out and reverse with a short below the 5min bar,with stop at High of the day,trail stop downwards,get out once pivots move up,therefore minimal gains.......then be there to ride the trend up and then the trend down later in the afternoon.

I take them all.......would like to keep "me" out of the trade as we had discussed at Kolkata.

Saint

 

[Satyen]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Satya!

Please use NIFTY Future chart. The SL will be much lower. Once we have entered our Sl is below the low of first 5-min bar and hence the whipsaw is only once and not thrice.

Personally, I use both Spot & Future chart for taking this entry.

Regards,
--Ashish

P.S.:- Moved SL to 4785.

Thank you .. what i was saying if we enter high of 5 min bar again if the entry bar close below that level then should we exit the trade or wait for stop hit
then reverse

Satya

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Today I have become a perfect Saint Disciple.

ah,as I am yours,my friend.....

Saint

 

[Satyen]

Re: Time to Stick my Neck Out ,Nifty 7300

Satya,

I don't deal with it........

I take the 5min high,put my stop at 5min low bar,get stopped out and reverse with a short below the 5min bar,with stop at High of the day,trail stop downwards,get out once pivots move up,therefore minimal gains.......then be there to ride the trend up and then the trend down later in the afternoon.

I take them all.......would like to keep "me" out of the trade as we had discussed at Kolkata.

Saint

thanks .... doubt came when i was thinking that the break out bar should close above the pivot otherwise its not a valid break out as explained by you at kolkatta

but should be trade it like machine ... pivot high break entry ... stop hit out and reverse ..... for this type of trade

Thanks again

Regards
Satya

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Right.....we going vertical on the 5.

Tightening SL to 4800

Saint

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

raising sl to 4833

Saint

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

sl to 4852

Saint