Nifty Futures Trading

[jace48]

Re: Time to Stick my Neck Out ,Nifty 7300

FP on this thread.

Bad day 2day. 2 longs SL hit. Down 80 points.
My system said to buy if trades about 4985 took position at 4988 then first SL hit down 20 points.

Market recovered back and took long position again but it tanked again and 60 points down.

Have no courage to take position again.

BTW my system is telling me to go long again on this level.
No idea what to do

PS: FP-> First Post

 

[renu daga]

Re: Time to Stick my Neck Out ,Nifty 7300

exactly just checked eod ,, on daily baiss ,4550 seems to eb bottomed out but still no signal of ,,
but (top / bottom ) indiactor hsows ,,4550 seems bottoming out of nifty

letsee
renu
taken abuy at 4550 nifty for longs

 

[milind]

Re: Time to Stick my Neck Out ,Nifty 7300

Trouble with Nifty Spot data feed on ODIN - but thats what I see on nseindia as well. Was stuck at 4566 for 5min and now at 4598. Is there some kind of circuit on Nifty?

-- Milind

 

[rkripal]

Re: Time to Stick my Neck Out ,Nifty 7300

Yest. and day before that were good days. I feel ashamed to post todays trade. Looks like just a bad luck day. I think I did not obey the Pivot points I myself posted here and thus the losses.

do u follow indicators or only depend on pivots and trendlines?

rkripal

 

[new2sm]

Re: Time to Stick my Neck Out ,Nifty 7300

do u follow indicators or only depend on pivots and trendlines?

rkripal

As many wud vouch, no indicator however powerful wud have told you today what will the end be. Mad mad mkt is what all have been saying since morning(u can refer back). Actually before leaving for office, I had a Long @4700 thinking that for some reason, the mkt has taken such a big upmove so it will go up. At the back of my mind, something was saying it might not be true for long. Then left for office, when I reached office and checked, lo and behold, lutgaya barbad ho gaya, mkt was @45XX. Good I played only 1 lot but still around 7k+ loss. enuf to wipe off my profit for the past days. Now I think had I held on to my conviction and held my day before yest. 4738 Short position, I wud have not seen such a day. Neways, someday u are a pigeon and someday the statue. Such is life.

BTW yes I do follow indicator but in todays trade no indicator wud have worked well esp. leaving your trade unattended. Since SL were hitting left right and center since morning, I did not put one and paid heavily for it. Am taking it in right sprit and will try to follow my previous rule of closing all positions or keep strict SL before leaving my desk. Another day another trade

 

[jace48]

Re: Time to Stick my Neck Out ,Nifty 7300

I think their is some fundamental flaw is my system in terms if stoploss calculation.

I took a short position on 2nd on 4722. The stop loss show @ Eod is 4834. Pretty wide margin.
Next day the market minifty closed at 4707. The new stop loss show is 4683
Today the market opened at 4710 showed a good support at 4685 hence took position 4788 only to tank 20 points down hence reversed the position immediately.
After that minifty kept tanking and I left for office.

When I reached office it was back at 4700 approx and hence took a long position again
approx 4685 only to tank back again. After 50 points down I was not sure what direction market is taking so stepped back.

Based on todays expected close the system is showing Buy at 4560 approx but I decided to simply watch with two unsuccessful attempt.

BTW I have no access to realtime charting using basic terminal hence have to rely more on my SQL command to stoploss forecast

Since the system is new my position is only on 1 lot of minfity and I think stoploss is wrong term it should be StartLoss

 

[rkripal]

Re: Time to Stick my Neck Out ,Nifty 7300

As many wud vouch, no indicator however powerful wud have told you today what will the end be. Mad mad mkt is what all have been saying since morning(u can refer back). Actually before leaving for office, I had a Long @4700 thinking that for some reason, the mkt has taken such a big upmove so it will go up. At the back of my mind, something was saying it might not be true for long. Then left for office, when I reached office and checked, lo and behold, lutgaya barbad ho gaya, mkt was @45XX. Good I played only 1 lot but still around 7k+ loss. enuf to wipe off my profit for the past days. Now I think had I held on to my conviction and held my day before yest. 4738 Short position, I wud have not seen such a day. Neways, someday u are a pigeon and someday the statue. Such is life.

BTW yes I do follow indicator but in todays trade no indicator wud have worked well esp. leaving your trade unattended. Since SL were hitting left right and center since morning, I did not put one and paid heavily for it. Am taking it in right sprit and will try to follow my previous rule of closing all positions or keep strict SL before leaving my desk. Another day another trade

new2sm
its always great to take a loss and learn something from it. it should be considered a lesson. u know i m still in tht learning process i have been trading for almost 2years and 7months and still have not recovered from loss.
ofcourse now doing better thn earlier. important thing is strong desire to learn and not give up.
so far as indicators are concerned i think i have found it more reliable to trade on pivots and trend lines and use only volume as indicator. i am not using metastock or other software of that kind ( not capable of buying that)
hope you recover the loss sooner thn later with a lesson

rkripal

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

As many wud vouch, no indicator however powerful wud have told you today what will the end be. Mad mad mkt is what all have been saying since morning(u can refer back). Actually before leaving for office, I had a Long @4700 thinking that for some reason, the mkt has taken such a big upmove so it will go up. At the back of my mind, something was saying it might not be true for long. Then left for office, when I reached office and checked, lo and behold, lutgaya barbad ho gaya, mkt was @45XX. Good I played only 1 lot but still around 7k+ loss. enuf to wipe off my profit for the past days. Now I think had I held on to my conviction and held my day before yest. 4738 Short position, I wud have not seen such a day. Neways, someday u are a pigeon and someday the statue. Such is life.

BTW yes I do follow indicator but in todays trade no indicator wud have worked well esp. leaving your trade unattended. Since SL were hitting left right and center since morning, I did not put one and paid heavily for it. Am taking it in right sprit and will try to follow my previous rule of closing all positions or keep strict SL before leaving my desk. Another day another trade

Hi, One thing I hv learnt is that never look forward to get "prediction" from the indicator , No indicator can ever tell you the future, why only today .
You did not use SL so u hv to cry out lutt gaya......etc. Friend, how can u take a tarde so lightly, and that too intraday that u leave it unattended!!!
SL are there to protect u from such scenario!!!
No two days are same, may be similarity ends with up day or down day but the movement of price on any given 2 days wud be entirely differnt, as different as two finger prints!!!
One shud not get complacent after a few winning days and equally important dont get morose after a few loosing trades or days!!! If your system is having a +ve rsik reward ratio checked historically u can be rest assured all that the system requiires from you is diligence, consistancy!!! I may be talking big, yes I realise that , but am happy to confess I hv overcome what u are going through!!! So friend, this situation is not to sit back and weep but to get up and get going!!! Tomorrow will be a new day!!!
Just a few minutes back rkkarnani sent me this quote, which is most appropriate for you :

"Our greatest glory is not in never failing but in rising up every time we fail."

-Ralph Waldo Emerson

 

[rkripal]

Re: Time to Stick my Neck Out ,Nifty 7300

Just a few minutes back rkkarnani sent me this quote, which is most appropriate for you :

"Our greatest glory is not in never failing but in rising up every time we fail."

-Ralph Waldo Emerson

thats appropriate for all of us.

thnks

 

[new2sm]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi gkpc,
hmm what you are saying is something that is going on in my mind since when. actually I was hitting SL left right and center. Plus there was some trades taken where I was unsure whether I was short or long now. and had to leave so just put up a long @4700 and in hurry forgot to put SL thinking they are getting hit stupidly anyways since morning. just imagine all SL got hit and I was saved/lost/earned in them. But one that I did not put, put me into deep losses.
Lesson to Self: Put SL and relax. small loss is greater than Big Loss (or mirage Large Profit)