Nifty Futures Trading

[kapil123]

Re: Time to Stick my Neck Out ,Nifty 7300

dada still holding a short @ 3936 level. what to do now....

You should never trade without a Stop Loss. One of the main mantra for the success of a trader is discipline.

Cheers,

Kapil

 

[sanx]

Re: Time to Stick my Neck Out ,Nifty 7300

Can you guys suggest what can be done to nonstopkaran now ? and not talk about what could have been done ! , should he exit immediately or wait or anything else ; thats what he is asking ? ,very scary .

 

[citrus]

Re: Time to Stick my Neck Out ,Nifty 7300

Respected Ashish,
This post is regarding the entry technique in Nifty future.
I have observed that when during breakout nifty moves out from congestion area even by 2-3 ticks, the price of future change rapidly sometimes upto 6-7 points. So entry immediately after breakout reduce profit considerably. This difference becomes clearer during trading hours on the tick charts of future and spot.
Now my question is, should entry be made during the congestion or just after breakout?
I have attached nifty spot and future charts for your consideration, with the same time period highlighted on both the charts.
With regards,
Citrus

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

Respected Ashish,
This post is regarding the entry technique in Nifty future.
I have observed that when during breakout nifty moves out from congestion area even by 2-3 ticks, the price of future change rapidly sometimes upto 6-7 points. So entry immediately after breakout reduce profit considerably. This difference becomes clearer during trading hours on the tick charts of future and spot.
Now my question is, should entry be made during the congestion or just after breakout?
I have attached nifty spot and future charts for your consideration, with the same time period highlighted on both the charts.
With regards,
Citrus

1st of all i am not an expert,i make Loss but both being a student of Mkt let us discuss.
No 1 point plz concentrate on charts where we are trading ,nothing else.
Personally tried several methods of trading b/o ,later on concentrated in only 1 point,the path Price traverses in b/o ,which part is more consistent & we can be relatively assured,i found that to always enter b/o with Stop Buy & exit in Mkt orders,this way atleast i earn more than my broker.
We will have to find the Resistance Price point & place a Stop Buy just 0.05 points above that.Once in trade we will find the Price hesitates for a moment after our entry then it jumps in Leaps & bounds,instantly sell in Mkt order (here my experience is that i get a better fill than what is reflected in bid/ask).
Here volume plays an imp. role,any b/o with high initial vol on the b/o initiation bar ,has normal tendency to come back below entry point (where i get scared ,becoz i normally do not put Stop Loss order while trading b/o but am ready with my sell order instantly after my order gets executed with Qty filled up & price field blank,i can wait for max 25 secs to see price change to my favour otherwise exit at 1 price below bid in order book).
The most imp part is to track that b/o after the trade is done ,if it does not retrace much below the b/o point in future,after completion of it's Upward journey,then we can trade in Long with strict Stop Loss to follow it.Here vol & Range of subsequent bars becomes a guide.

Asish

 

[citrus]

Re: Time to Stick my Neck Out ,Nifty 7300

Thanks Ashish da for the detailed reply. It will take time and practice to fully adopt the technique I have learned from you.
Regards, Citrus.

 

[deb99891]

Re: Time to Stick my Neck Out ,Nifty 7300

complete analysis of b/o trades by asish da
ready reckoner for practitioners as well as for newbies....

 

[milind]

Re: Time to Stick my Neck Out ,Nifty 7300

SGX down 82 points. US had bad day yesterday, and much of asia, except China have sizable cuts. Crude over $144. Making it difficult for yesterday's rally to sustain.

-- Milind

 

[kapil123]

Re: Time to Stick my Neck Out ,Nifty 7300

Can you guys suggest what can be done to nonstopkaran now ? and not talk about what could have been done ! , should he exit immediately or wait or anything else ; thats what he is asking ? ,very scary .

In my view the best thing would be to exit on the decline today. The negative global cues might come to his rescue.
However as I am not a pro, maybe seniors could suggest something better.

Cheers,
Kapil

 

[diosys]

Re: Time to Stick my Neck Out ,Nifty 7300

i think today is going to be an Up - Down - Up move....

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

dada still holding a short @ 3936 level. what to do now....

Can you guys suggest what can be done to nonstopkaran now ? and not talk about what could have been done ! , should he exit immediately or wait or anything else ; thats what he is asking ? ,very scary .

A trading sin, no doubt, but I feel, Karan, your over-night prayers may be answered today...

As of now, SGX Nifty is down ard 80 pts...

For our NIFTY JULY FUT, break of 4015 is important for you...
this may target 3985-3965...
Also, as per Vinod's Mechanical trading (in another thread), 3965 FUT is support for today....

I am not saying for sure that 3965 will be reached.... but if you have more than one lot, you can start booking losses (much lesser than expected) partly....

My best wishes for you...

BUT NEVER EVER REPEAT THIS MISTAKE AGAIN..................