Trading as a part time profession.

[abasurve]

sir u have done the excellent guidence to new bies and the trader who do consistently study n research. but i want to know the exact definition or possible definition of PH n PL reply waiting.
Thanx.

 

[ag_fx]

sir u have done the excellent guidence to new bies and the trader who do consistently study n research. but i want to know the exact definition or possible definition of PH n PL reply waiting.
Thanx.

PH refers to Pivot High and PL refers to Pivot Low. GO through the firt few posts of this thread and you will have your answers.

 

[rajendrani]

Wud u elaborate more on this entry? My guess is that the gap Up caused a PH being taken off and of course the filter too...But on THAT DAY, at what time/position did you enter the trade? What was the thought process behind the entry?

Happy Trading

Well Ankit, I was long since 28XX level, but had to quit my long, as some work, as i was not able to give much time and had taken a 2 weeks long vacation. So, I took gap as a support and made an entry to long, Which I dont know was a right thing to do or no, but still will carry on with the rules and let see what happens, As for SAR is concerned its too far, so till then I would not worry and if it hits, then i have to pay price for my wrong entry.

Thanks and regards,
Rajendrani

 

[marked9]

Hello guys,

This is a nice discussion thread. I recently joined and wanted to contribute in it.
Have a look at this recent chart on Axis bank. This is just a technical analysis.
I did not trade it actually, tried to put as an example. I am more comfortable with trading on position of few weeks instead of few days.
Good example of pattern in recent past, nothing tough.

Analyze it, see if you can figure out the logic, if any explanation needed and give your comments.

Thanks

 

[ag_fx]

Well Ankit, I was long since 28XX level, but had to quit my long, as some work, as i was not able to give much time and had taken a 2 weeks long vacation. So, I took gap as a support and made an entry to long, Which I dont know was a right thing to do or no, but still will carry on with the rules and let see what happens, As for SAR is concerned its too far, so till then I would not worry and if it hits, then i have to pay price for my wrong entry.

Thanks and regards,
Rajendrani

Thanks rajendrani for the reply...I am sure you must be deep in the money by now for the trade Way to go :clapping:

Btw, today, while trading the paper 5 min flow, a new idea came to my mind. I am sure it must have been thought before, but not sure if anyone tried it.

I was thinking about trading the 5 min Flow with options. The reasons that I would like to give in favour for this approach is :

1) We can trade options taking a look at the Nifty chart. Since, all the derivatives have Nifty as its underlying, it is very much tradeable. I have always believed that the way underlying behaves has a lot of impact on the way derivatives behave.And with no charts being used for options, i guess nifty chart can be well used.

2)The entry and exit will have to be decided and fine tuned. Since Option pricing is very different from Option index, it needs extra effort. But, Im sure it can be mastered with the help of sessioned option traders.

3) The biggest problem for me while trading options has been the Time value associated with it. Even 2-3 days of holding an option costs you something. But here, since we are trading intraday, time value effect is almost minimal.


I would like to have opinions of all the members around. Would love to hear some negative points for this strat.

In case we decide to go ahead, I can try paper trading it for sometime as there is no possible backtesting available for it.

Happy Trading

 

[MurAtt]

I do Options trading - i.e. 70% of my trades are in options. Mostly Nifty CE/PE.
I do follow 5min NSpot chart and take decisions based on that. Sometimes though decisions are based on 3min or 1 min charts.
I am not much seasoned in NF / Charting especially with the Flow system (still to read through the thread of Flow) BUT whenever Nifty breaks resistances, takes supports I buy a Call (irrespective of the price since movement of nift will result in movement of the call price) and vice-versa.
This may also be called unprofessional trading but i've been winning intra-day and losing positional

 

[ag_fx]

I do Options trading - i.e. 70% of my trades are in options. Mostly Nifty CE/PE.
I do follow 5min NSpot chart and take decisions based on that. Sometimes though decisions are based on 3min or 1 min charts.
I am not much seasoned in NF / Charting especially with the Flow system (still to read through the thread of Flow) BUT whenever Nifty breaks resistances, takes supports I buy a Call (irrespective of the price since movement of nift will result in movement of the call price) and vice-versa.
This may also be called unprofessional trading but i've been winning intra-day and losing positional

You mean to say that you buy Calls when nifty breaks resistance and buy PUTS when it breaks supports...right? oderwise you wud loose more than you wud gain...

And I guess the reason for u winning intraday and loosing positional might be the time value!!!Options kill you with time value even if the underlying doesnt move!

 

[MurAtt]

You mean to say that you buy Calls when nifty breaks resistance and buy PUTS when it breaks supports...right? oderwise you wud loose more than you wud gain...

And I guess the reason for u winning intraday and loosing positional might be the time value!!!Options kill you with time value even if the underlying doesnt move!

True. Sometimes just so that I want to be a bit defensive, I buy CE/PE i.e. no particular break of res/sup but in general mkt looking strong and can do a certain tgt point etc. I buy CE/PE.

 

[kiranb]

Bro, i have one doubt. Is the Wide Spread bar and comparatively higher volumes then last 2 days signify profit booking volumes here?

 

[kiranb]

WW in MC-Dowells, very less volumes at 5 and slight deviation in symmetry.Opening volatility may have lead to that big bar at 5.

Below is the 15 min chart of MC-Dowells.