Trading Bank Nifty Future on 5 Minutes TF

[PartTime_Trader]

Long triggered in bank nifty future

Long at 12530, 50% position as the initial stop was deep at 12430,

the price action is very volatile today, so either don't take the trade or use deep stop with less position


@ gurmy, yes the breakdown and steep pullback is bullish, can be used that as opportunity to get into a long trade,

i skipped that as already have a good short trade, will be carrying this long position if the days closes is above 12500.

Thanks

 

[PartTime_Trader]

GM

Will add to the long position and look for intraday long opportunity, if the price trades above 12630.

SL now is at 12520, will look for short opportunities below that.


Thanks

 

[PartTime_Trader]

Stops for long hit

 

[gurmy.]

GM

Will add to the long position and look for intraday long opportunity, if the price trades above 12630.

SL now is at 12520, will look for short opportunities below that.


Thanks

hi dear

may i know what strategy u r following?

banknifty is very volatile,5 min TF is not suitable for it,as per my view

did u enter short?

thanks

 

[harshda]

can u tell me how can i post threads?

 

[harshda]

Can any body ... make this AFL with explorer


Characteristics of the Pin Bar Formation
The open and close of the pin bar are within the price range of bar 1 and bar 3 of the formation, or very close to being within their range.
The open and close of the pin bar are very close together, the closer the better.
The open and close of the pin bar are near one end of the bar, the closer to the end the better.
The shadow or tail of the pin bar sticks out from the surrounding price bars, the longer the tail of the pin bar the better.
Bearish Reversal Pin Bar Formation
In a top or bearish reversal pin bar formation the pin bar sticks out noticeably in between bar 1 and bar 3 and has a long protruding tail.
Bullish Reversal Pin Bar Formation
The bullish or bottom reversal pin bar formation is the opposite of the top reversal pin bar formation. Here again, we see the pin bar has a long protruding tail that has obviously rejected a certain price level.

 

[harshda]

If want more details plz click on Given link
http://www.learntotradethemarket.com/forex-trading-strategies/pin-bars-forex-trading-definition

 

[augubhai]

Great trades, PTT :clap::clap:

 

[PartTime_Trader]

hi dear

may i know what strategy u r following?

The strategy is simple, I try to trade in the direction of the current trend.
I do not try to catch the reversal or am not looking for early entry etc.
Only once i am sure we have a good trending market only then i will initiate a trade on that side.
I judge the trend visually. Have posted the chart and AFL i use on previous page.

banknifty is very volatile,5 min TF is not suitable for it,as per my view

The volatility affects the trading as most of the time the stops we use are very small, i try keeping bigger stops (you can say trading 5 mins with using 15 mins stops) .

Once an initial position (long or short) is established and is in profit, i scale-in / scale-out in the same direction.

All the initial entry trades put together hardly make any money, only about breakeven, the profits entirely come from these extra trades / scale-ins. Many stops are hit for the first entry, but usually as this position comes in profit, the scale-ins bring in the profit.

Thanks

 

[PartTime_Trader]

Great trades, PTT :clap::clap:

Thanks Augubhai, your trading seems to be going good.

Adding to a winning position seems to be working well for you.
I limit the scale-ins to 2 or 3 and don't keep adding till the trend ends


Thanks