Nifty Futures Trading

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

@gkpc:
I don't know what system you are following, but it appears to me, at least today, in a range bound market, the system's going in for a bit of thrashing. Is this so? Does it help to not trade at all under such circumstances? Just curious!

U cannot know before hand that the market shall be range bound!!! Yes my second trade got stopped, first one i exited at some profit , now third trade is on.... I am trying , and its a bitter fact that still trying to be mechanical, trying to remove the I from my trades, yes I genuinely feel that the system trade i am following should be traded in all markets. I shall change this view of mine only after trading for atleast 2 quarters, i.e. 6 months and not before that.
Regards
Gautam
ps. : My view carry as much weight as that of a nursery student. I am quiet new to chart or TA based trading.

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Shall exit 2 lots at 4895.20

 

[skarpio]

Re: Time to Stick my Neck Out ,Nifty 7300

U cannot know before hand that the market shall be range bound!!! Yes my second trade got stopped, first one i exited at some profit , now third trade is on.... I am trying , and its a bitter fact that still trying to be mechanical, trying to remove the I from my trades, yes I genuinely feel that the system trade i am following should be traded in all markets. I shall change this view of mine only after trading for atleast 2 quarters, i.e. 6 months and not before that.
Regards
Gautam
ps. : My view carry as much weight as that of a nursery student. I am quiet new to chart or TA based trading.

That's true. But say, 30 mins on after trading starts, you do get a feel, when there's no discernible pattern forming and the market's rangebound. I'm sorry if you thought that I was trying to dissuade you. Best of luck for the rest of today and the future.

 

[leo_3455]

Re: Time to Stick my Neck Out ,Nifty 7300

I am really impessed with gkpc's discipline, sticking on to a system. I am sure the system will be fine tuned over time.

If there is a system that works on all types of market, dont you think we all will have that system and earn profit and nobody will have loss.

Keep up the good work gkpc.

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

That's true. But say, 30 mins on after trading starts, you do get a feel, when there's no discernible pattern forming and the market's rangebound. I'm sorry if you thought that I was trying to dissuade you. Best of luck for the rest of today and the future.

No friend, never the thought came to my mind that you are trying to dissuade me.... My responce if a bit too direct is only becoz i do not wish to sway from my set rules.
Please dont mind but i wish to overcome this 'feel'!!!! I wud rather allow the price action to guide me!!!

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Target miised by 20 paise, but changing SL to cost now!!
Waiting to exit 2 lots at tgt 1

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

exited 2 lots at 4895.20 holding 2 with cost as sl and next tgt : 4905

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

exited one more lot at 4905, continue to hold one lot with still cost as SL

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

@gkpc:
I don't know what system you are following, but it appears to me, at least today, in a range bound market, the system's going in for a bit of thrashing. Is this so? Does it help to not trade at all under such circumstances? Just curious!

Hello, I am trying to follow the Kolkata meet indicator so benevolently given to the members ere by senior member and moderator Ashish da (uashish). I was greatly assisted in the initial stage and also follow ups and in fine tuning the system by rkkarnani and also is setting the trading rules.
He somehow convinced me to back test the system for an year and if found good then to trade it for 3/6 months before rethinking about it.
As found in various posts here on this forum and elsewhere onthe net , consistency is the key!!!
R K Karnani told me that during Kolkata meet one thing vital he gained was the importance of " taking out the "I" from your trades!!!! If i am not wrong it was told by the most revered member here "SAINT".
Regards
Gautam

 

[lalpar]

Re: Time to Stick my Neck Out ,Nifty 7300

Hello, gkpc had sent me a mail abt ur trade. He is new and thinks why shud a person hold on to a loosing position so long..... He is not at all comfortable with positional trades hence was surpised.
But i am curious too, just too know what was your SL when you entered the trade!!! Was it originally 4920 or was changed to 4920 when the trade did not go in your direction!!?
Thanks.
R K Karnani

my initial SL was 4995..But i could not exit and my call was shot at 4995 but i missed the oppurtunity as i was away for some time...

But over a period of 1 week the market shld move back close to 5000 levels and that will be an oppurtunity for me to exit!!!!

As I said I have the cushio of trading 200 ponts as SL !!!