Nifty Futures Trading

[Sunil]

take care debs, 5+ negative days very rare
but
5+ positive days have taken place many times

 

[Sunil]

One observation i have made of Nifty (i have readings from Nov 2007)

We have had a maximum of FIVE days of consecutive negative closings
Six consecutive days of negative closings has happened only once during the Jan 08 bloodbath.


Today is the SIXTH DAY....
if today it closes in negative, WILL TOMORROW BE A POSITIVE CLOSING (given an imminent/timely due dead cat bounce/technical relief rally from today's lows)....
Only time will tell....

BTW, tomorrow is the derivatives expiry day, today is UPA-Left meet and tonite is the US FED meet.

Positional short at 4500, will carry till expiry. Reason: Have noticed after continuous 5 days up/ down, nifty changes trend for atleast a couple of days.

take care debs, 5+ negative days very rare
but
5+ positive days have taken place many times[/QUOTE]

 

[Czar]

Positional short at 4500, will carry till expiry. Reason: Have noticed after continuous 5 days up/ down, nifty changes trend for atleast a couple of days.

you may be right but in a strong uptrend carrying till expiry is still very dangerous, dont see how much its risen, see how much its fallen, if as all expected nifty was to correct from 4450 to 4200, it may correct from 4650 to 4450 or give a sideways move for few days as shorts are trapped & you will stand not to gain anything, infact stand with a loss for few days, also just because its risen too much thats no reason to short & hold, intraday is a different matter.... IMHO

The darn rsi is bursting with no further place to go...lol

The only advice is dont trade cause you have to trade, trade only when you are sure...

Those in trading since years painfully realize that trading on fluke may pay off sometimes but its path only leads to disaster...

 

[lalpar]

Hi ,

I made about 350 points in last 3 weeks and lost all of them in my last one trade....
I am doing all my tades on paper and I do paper trading with same passion as I will do real trading...

The most important thing now for me going fwd before I do paper trading is set down rules for myself which I wont break at any COST!!..After this again I will do paper trading..But do not mind if I post here that I am long or Short although I will be trading on paper..

I will update my rules here once I write them out...I thank each and every one on tradrji specially Saint,Sudoku,Savany and Ashisda) from whose threads I have learnt a lot...Keep Walking!!!


I will get to real trading only if i adhere to these rules consistently on paper .It is my attitude which is dynaic and thats causing problems for me while trading...Next time I will think on 100 parameters before I trade....Trading is helping be grow as a person also and thas why I enjoy trading..I am in to a diff profession and love trading!!!

Thanks All once again!!

Regards
Lalith

 

[Sunil]

yes, but if it's a 4500 PUT, then till expiry, chances are less of SPOT closing above 4500...

just will have to stomach the risks of few intermediate days of UPs...

watch out for 4535 SPOT

 

[new2sm]

Ahh 4507 did not cross. Good or Bad!?!?!?

 

[nareshch]

yes, but if it's a 4500 PUT, then till expiry, chances are less of SPOT closing above 4500...

just will have to stomach the risks of few intermediate days of UPs...

watch out for 4535 SPOT

Yes . 4535 being the resiatnce on weekly pivots . And 4510 -4550 is the gap of island reversal on 19/06/2008 .

Naresh

 

[new2sm]

buy Puts when mkts is at a High and indicators showing weakness. But all are currently pointing upwards(or showing recovery) and as someone mentioned, you "might" get lucky i.e if mkt ends below 4500 on expiry but do this only if u can bear the mental tension when mkt goes against ur wish.

 

[Sunil]

Hi ,

I made about 350 points in last 3 weeks and lost all of them in my last one trade....
I am doing all my tades on paper and I do paper trading with same passion as I will do real trading...

The most important thing now for me going fwd before I do paper trading is set down rules for myself which I wont break at any COST!!..After this again I will do paper trading..But do not mind if I post here that I am long or Short although I will be trading on paper..

I will update my rules here once I write them out...I thank each and every one on tradrji specially Saint,Sudoku,Savany and Ashisda) from whose threads I have learnt a lot...Keep Walking!!!


I will get to real trading only if i adhere to these rules consistently on paper .It is my attitude which is dynaic and thats causing problems for me while trading...Next time I will think on 100 parameters before I trade....Trading is helping be grow as a person also and thas why I enjoy trading..I am in to a diff profession and love trading!!!

Thanks All once again!!

Regards
Lalith

Lalith, just remember two things:

1. MARKET IS ALWAYS THE KING... REMOVE "I" or "ME" or "MY" from trading. If you have been proved wrong by the market, then (as u say) keep walking... tomorrow is a new day

2. ALWAYS DECIDE A SENSIBLE STOP PROFIT OR STOP LOSS BEFORE TAKING A POSTION AND RESPECT IT, NO MATTER WHAT...



i am quite junior to you, and our trading style somewhat matches (as i had discussed in my earlier pos with you)...
But i would like to guide your attention towards a thread on "Mechanical Trading" by Vinod Nadoda... it's perfect for positional traders (less trades, more points) with defined entry & Stop Loss / Stop profit points, (but without part-profit booking points - that is left to your judgement)
Visit it & try it with Options atleast...
(i had also begun with this, and still sometimes trade accordingly)

traderji . com/futures/16351-nifty-futures-mechanical-trading.html

 

[Czar]

Yes . 4535 being the resiatnce on weekly pivots . And 4510 -4550 is the gap of island reversal on 19/06/2008 .

Naresh

so what if an island reversal get island reversed once more