Stock FUTURES To Keep A Close Eye On

[SavantGarde]

Hi Aarav,

There is no order for the first session today... we shall see around 1.30 if we have an opportunity....!!!

SG

 

[Neo_trader]

Yes... Sunil...I did understand what you meant....!!!

I must say... my mind has always worked better under pressure....!!!

Here is an example.....!!!

I buy something at 100 thinking it will go to 103-105 but it it goes down to 98.50 at which point I have a mental S/L of about 97 but something happens...and it drops like a stone past my mental S/L to 93 at which point most Traders are sweating and sell at much lower price than they would have normally....This is the point where my mind gets into top gear... although it jumped my mental S/L by a huge margin.... what do I do... instead of selling I buy at 93 and wait for some pullback.... to around 96 to exit the one bought @93 so... at this point I am sitting on a 3 buck profit for the one entered at 93 and if I see another buck up to say 97 I sell the first entry for a loss of 3 what is the net result.....break even without the Brokerage & Taxes....!!!

This works... everytime.....just that our mind should never freeze up when the price does something unexpected......most Traders that I have come across....just remain frozen watching with a blank look at the screen....believe me at that time there is no limb movement either....!!!

SG

This has happened for me so many times How to avoid this 'frozen with blank look' syndrome.. Keep actual SL.. Mental SL won't work for all..

 

[Aarav11]

Hi Aarav,

There is no order for the first session today... we shall see around 1.30 if we have an opportunity....!!!

SG

Ok SG.


In mean time I will Go through all the Discussion which happened when i am not online.

Thanks

 

[SavantGarde]

Dinesh & Malik....Please exit your IFCI between 42.70-42.75

SG

 

[EagleOne]

This has happened for me so many times How to avoid this 'frozen with blank look' syndrome.. Keep actual SL.. Mental SL won't work for all..

That 'rabbit staring at the oncoming headlights without blinking' syndrome ain't gonna go away with this or that remedy involving thought process. The fear acts from deeper level, bro. Position sizing is the only key. Don't bite more than you can chew - that is, don't try to stuff yourself as if there is no tomorrow!

 

[dineshN]

GM SG

Exited IFCI @ 43.10
Also Exited VIJAYABANK @ 62.3 (I thought scrip is going below my buying price again and would buy it lower!!!!)

Anyways no positions, please suggest something!!

 

[SavantGarde]

GM SG

Exited IFCI @ 43.10
Also Exited VIJAYABANK @ 62.3 (I thought scrip is going below my buying price again and would buy it lower!!!!)

Anyways no positions, please suggest something!!

Great Exit on IFCI...was a little apprehensive because of their result....hence the post to book profit....!!!

SG

 

[myamit]

Amit...

What will you suggest to a guy who comes to you and says he has 7300 shares of SUZLON at average price of 120....???

SG

Frankly, I would advice him to exit stock market (as a trader) and go for any other decent business/occupation.

For an investor, I would just ask him to be little more prudent or get a better advisor for his investments.

Note: Suzlon (or any other script) may touch price again or even go beyond but pain/stress one would undergo is not worth any money. I'm sure that you will agree that whatever trade/investment you make, it should not affect our life quality.

Regards,

 

[EagleOne]

All right, friends. I just liquidated my yesterday's MNFs at 5356. Because IMO, hanging on to TL, nifty is acting funny. No shorting, as the trend is showing upward sign. Shall wait till it comes decisively out of either side of sideways rectangle. Till then, I would rather have coffee sitting on the fence.

 

[myamit]

Hi Amit,

In one of the earlier posts I mentioned.... things I do will normally be frowned upon.....!!!

Infact this is the reason that we are in discussion. Please appreciate that my discussion is not frowning upon but trying to understand different perspective.

Why does everyone go around saying S/L is a must....Let me tell you the conclusion that I have arrived at... it is from reading Trading Books....!!!

For me I regard the Market as a battleground.... I am NOT going to put a S/L in the system....
I have seen software by small group of HNI who could see every S/L in the system.....!!!

If this is the concern (being software professional, it is difficult for me to believe that exchanges/sebi can allow such manipulation of system) , I can develop a small routine that alerts when SL is triggered and than execute a trade (offline or online). May be this may have few ticks slippage but in a longer run may work for your strategy.

Position Sizing is what makes one avoid putting a S/L... it is quite a bit of writing to describe what I am talking about...perhaps in a few weeks I shall illustrate it...!!!

At the end of day my Trading practices are only as good as my Ledger....and that I think will bear out my Trading Practice compared to anybody anywhere....!!!

SG

I fully agree that any trader is only as good or bad as his ledger is. This is the reason why we admire your trading & also sharing and helping attitude.

I also agree that you may not be able to describe your thoughts in few words here... so I'll await your longer reply over weekends or whenever you have some time. Also I'll be more than happy if you can share your contact details where I can reach you to understand your point of view.

Lastly, let me describe SL system I follow. I will appreciate your comments/suggestion for improvements.

In my system (purely mechanical), I follow two type of stop loss.
One is deep down (as you said) like about 70-80 points on Nifty future.
Second one is quite in range (let's say 20 points) but to be considered only if triggers on candle (30 min) close basis.
Do let me know your thoughts. Thanking you once again for your time & thoughts.

Regards,