Trading Bank Nifty Future on 5 Minutes TF

[PartTime_Trader]

Hello

Most of us can see the trend easily on the charts for e.g. it was clear that BNF trend is shifting down as it turned back from above 12600 and breached 12530 levels, the stops for long got taken out.

The problem area is most of us get stopped out on the pullback that follows, this pullback went up to 12580. I did not enter short trade yesterday so was not carrying any position.

Short entered today at 12510, holding it, now with a tentative stop of 12530

I feel with decent (not very tight) stops, some patience and willingness for giving up some notional gains the overall trading performance improves.

The major problem area is trying to call the direction too soon or trying to get the exact turning points / reversals.

Thanks

 

[gurmy.]

dear PTT,

just my view,

20 point sl for BNF is too small,BNF Is very volatile

do u set any target?

if not trail it with trailing sl

thanks

 

[PartTime_Trader]

dear PTT,

just my view,

20 point sl for BNF is too small,BNF Is very volatile

do u set any target?

if not trail it with trailing sl

thanks

no, no, not 20/40 points, i am not using fixed point stops,

i use technical stops, stops placed where the reversals is confirmed.

As i said earlier, the initial position runs between stop to stop which are quite deep, most of the profitable trades come between these stops (the scale-ins or additional trades that happen when we get the really good trend).

For e.g. in BNF we made a low of 12425, but the reversal in trend will not be clear till it trades above the level of 12525.

 

[PartTime_Trader]

BNF pull back to above 12500 levels and so out of the short position.

Will keep looking for opportunity to re-enter the short trade.

Will go long only if trades above today's high made on opening bars for some time.

 

[PartTime_Trader]

Hello

I have decided to shift to using charts of higher time frame as reading trend is much more clear on 15 Minutes and above charts.

For now using 15 M, current trend is down, holding initial short trade from 12445, Stops above 12465/70

Thanks

 

[Taiki]

Good analysis bro, :thumb:

Just for curiosity, What are those three white lines drawn from 19 dec ??

 

[PartTime_Trader]

Good analysis bro, :thumb:

Just for curiosity, What are those three white lines drawn from 19 dec ??

Nothing special it is just a standard regression channel, drawn on the chart, no AFLs or any secret codes buddy

I believe few simple lines drawn on chart show us the direction more clearly than using many complicated indicators. :thumb:

Cheers

 

[gurmy.]

Nothing special it is just a standard regression channel, drawn on the chart, no AFLs or any secret codes buddy

I believe few simple lines drawn on chart show us the direction more clearly than using many complicated indicators. :thumb:

Cheers

simple is better

:clap::clap:

 

[Taiki]

Nothing special it is just a standard regression channel, drawn on the chart, no AFLs or any secret codes buddy

I believe few simple lines drawn on chart show us the direction more clearly than using many complicated indicators. :thumb:

Cheers

AWESOME :clapping:

 

[PartTime_Trader]

Support to BNF is around 12280 area, but there was not enough momentum to reach there during morning and noon session

And now the fall coming in near closing session

anyway good short trade,