Nifty : Real time discussions...!

[augubhai]

Exit @ 5499

 

[augubhai]

Lesser amount of trades normally doesnt translate to good profit. The amount of money needed to be put at risk to know if a trade will work is proportional to the tf traded. Higher tf normally means wider stoploss. And lack of movement is going to kill any system. Issue is damage control. A time tested ema crossover on eod like sh's 315 is whipped 5 times this month.

Every time i place a trade with 6 point point sl... thats the money i am willing to risk to know if the trade will work. 5 such trades fail, I loose 30 points plus brokerage. Same trade with 30 points sl can give it room to move in my direction but all i need is 1 such failed trade for a 30 point damage.

Every thing depends on how i manage my exits. with smaller sl, i have far more number of scratch trades and small loosers. But a small number of big winners is needed to offset all that.

With a wider sl...i cannot afford to be wrong too many times....!

Linkon, agree 100% with you. I have the same plan, which is why I am trying a smaller TF eventhough I have a profitable day trading system.

The system has not worked out so far. 3 profitable days to 2 loosing days - but lost a lot of points on the loosing days. Need to tweak. I am still hoping to make itv work.

 

[augubhai]

Great I am still short. Was not long at 5511, so I actually went short when I tried to square off...

Lost focus. Happens when I am trading a lot of counters.

 

[Smart_trade]

Nifty will gain strength only if it trades above 5525.....till then long trades not likely to be profitable.

Smart_trade

 

[sumosanammain]

Nifty will gain strength only if it trades above 5525.....till then long trades not likely to be profitable.

Smart_trade

And you tell us this at 3:12 pm?

 

[linkon7]

Linkon, agree 100% with you. I have the same plan, which is why I am trying a smaller TF eventhough I have a profitable day trading system.

The system has not worked out so far. 3 profitable days to 2 loosing days - but lost a lot of points on the loosing days. Need to tweak. I am still hoping to make itv work.

Filter your trade direction. Use higher TF or ema of 200 bars or CAM or Ichi cloud or pivots or open of the day or Adx or anything u like... !

But dont trade a SAR based system on a day when we have a trading range of just 30-40 points. Recovery gets a lot tougher with every failed trade since brokerage adds up. e.g. 1 failed trade of 10 points + 2 ( brokerage) needs a 14 point trade to recover with same brokerage...! Its a loosing battle...!

 

[Smart_trade]

And you tell us this at 3:12 pm?

I came to this thread only just now and saw few long trades......but this level has been there from yesterday ........

Smart_trade

 

[linkon7]

And you tell us this at 3:12 pm?

If he would tell u this before..then how would u learn that if trading range is below yesterday's low of 5518 then most likely profitable direction is south....

 

[Smart_trade]

If he would tell u this before..then how would u learn....

These levels are there on the charts from yesterday......I thought of pointing out the mistake in taking long trades to people who are attentive and this is not an attempt to give you gyan after the event.....if I had seen this thread at 11:00 I would have said exactly the same thing........

ST

 

[trader.trends]

on NF Nr17 day!!