Trading as a part time profession.

[rajendrani]

Reliance 5 min flow for the day

Very good going ankit, and what you said about the profit booking is really good. You have to keep booking your profit at different level. Intraday trades can go in reverse direction at any time, so in order to be in a profitable trade, its absolute must that you book the profit.

Now profit booking also depends from person to person, some can actually go with 1%, 2% and 3% levels like that, and the other option is draw a trendline using the pivot and book the profit at the break of that trendline. For eg. If you are short, then draw a trendline from the PH and Lower PH and the break of that trendline, will be the profit booking level and the break of the PH will put you in reversal.

Ankit keep up the good work, Great going,

Thanks and regards,
Rajendrani

 

[rajendrani]

Today's intraday pattens in nf futures

kiran

Wow, 3 pattern in one chart, great.

You got the eye of a tiger. very good sis, please help us finding these patterns so that we can make use of this for our profit booking and also reversal.

Thanks and regards,
Rajendrani

 

[ag_fx]

kiran

Hi Kiran,

i was just going thru your 5 min flow chart....I found that there was a slight difference in your trades and my trades...primarily whipsaws were a little avoided in urs...I would like to discuss more on the issue...wud u mind giving ur feedback to the 5 mins chart dat i post? As in may be better entry/exit levels....as dese are the initial stages for me for this method,it'll help me a little....

Further, if u use any chat messenger kindly let me know..its mch easier to share ideas dat ways!!

Thanks
Happy Trading

 

[ag_fx]

Very good going ankit, and what you said about the profit booking is really good. You have to keep booking your profit at different level. Intraday trades can go in reverse direction at any time, so in order to be in a profitable trade, its absolute must that you book the profit.

Now profit booking also depends from person to person, some can actually go with 1%, 2% and 3% levels like that, and the other option is draw a trendline using the pivot and book the profit at the break of that trendline. For eg. If you are short, then draw a trendline from the PH and Lower PH and the break of that trendline, will be the profit booking level and the break of the PH will put you in reversal.

Ankit keep up the good work, Great going,

Thanks and regards,
Rajendrani

That is a very good idea Rajendrani.I would use TLs from next trading session..makes a lot of sense to me..


Untill now, I was using fixed predefined levels to book profits...Like for example, I used to square off 25% of my position at +10 points, next 25% on +20 points, next 25% on +30 points and I keep open the last 25% for SAR for Nifty.
For Reliance, the levels are +4,+8 & +15.
From my observations so far, I have noticed that the trades at SAR do not pull out more money than the 30 points of profit already booked for Nifty. 9 out of 10 times, the SAR levels have been lower than +30 points gain. I am considering to find an appropriate level to sqr off the last lot of nifty, which I otherwise keep open for SAR. Most probably, it will come in between 40-45 points. I would update everyone with it once done.

Thanks a lot for your inputs

Happy Trading

 

[rajendrani]

Hi Kiran,

i was just going thru your 5 min flow chart....I found that there was a slight difference in your trades and my trades...primarily whipsaws were a little avoided in urs...I would like to discuss more on the issue...wud u mind giving ur feedback to the 5 mins chart dat i post? As in may be better entry/exit levels....as dese are the initial stages for me for this method,it'll help me a little....

Further, if u use any chat messenger kindly let me know..its mch easier to share ideas dat ways!!

Thanks
Happy Trading

Sorry to answer on behalf of Kiran,
Ankit, you are trading good, but sometimes you are not able to make out a clear pivot and shift the sar, we would not just shift sar to every small pivot, we need confirmed pivot to shift our SAR, if we do that properly our whipaws are less. Other than that yes, you get a better entry and exit using these small pivots, but there is no much point giving more to broker, profit comes more when you trade less and earn more.

I hope kiran would have something to say for your question.

Thanks and regards,
rajendrani

 

[ag_fx]

Sorry to answer on behalf of Kiran,
Ankit, you are trading good, but sometimes you are not able to make out a clear pivot and shift the sar, we would not just shift sar to every small pivot, we need confirmed pivot to shift our SAR, if we do that properly our whipaws are less. Other than that yes, you get a better entry and exit using these small pivots, but there is no much point giving more to broker, profit comes more when you trade less and earn more.

I hope kiran would have something to say for your question.

Thanks and regards,
rajendrani

Dont be sorry..This is a feedback too for me...n thanks for it

Please let me knw how wud u define a CLEAR PIVOT? Any characterstics of it?


Happy Trading

 

[The Monk]

Hi Rajendranani,

I have gone through all the posts of Saint's Teach man to Fish, Intraday Miniflow and 60 Min flow.

I have also seen many of your posts in 60 min flow.....

One question..... Is there any specific reason for taking job and being part time trader, when you were doing good being trader.

Reason I am asking is I am trying to do the opposite.... I want to be full time trader?

Any advise on this is most welcome???

Thanks,

The Monk..
There is Method in Madness..........

 

[rajendrani]

Hi Rajendranani,

I have gone through all the posts of Saint's Teach man to Fish, Intraday Miniflow and 60 Min flow.

I have also seen many of your posts in 60 min flow.....

One question..... Is there any specific reason for taking job and being part time trader, when you were doing good being trader.

Reason I am asking is I am trying to do the opposite.... I want to be full time trader?

Any advise on this is most welcome???

Thanks,

The Monk..
There is Method in Madness..........

For me, I am from different field, I started trading because i had left my job, once I got the job, I switched to my job and as I was doing good in trading, didnt wanted to leave trading too, so took trading as a part time job and wanted to do what I like most as my full time job.

If you are more comfortable in taking trading as full time then go for it buddy.

Thanks and regards,
rajendrani

 

[rajendrani]

Dont be sorry..This is a feedback too for me...n thanks for it

Please let me knw how wud u define a CLEAR PIVOT? Any characterstics of it?


Happy Trading

Will definately explain you in details about this, but for this you need to give me some time, Presently time is a constraint for me, once I get some time, I will surely post the same for you.

Regards,
rajendrani

 

[rajendrani]

Some observation should not be ignored

Regards,
Rajendrani