Trading Nifty

[Gaurav Kumar]

Trading Nifty ON 7TH AUGUST

Dear Friends,

We should expect the reverse of yesterday's moves to happen today. The market should open with a big gap up. Let us see where it opens.

If it opens below 4400 , say 4370, we may buy for a target of 4400.

If it opens around 4440 (cash), or goes to that level, we shall short september series and cover 20 points lower.

What we really expect is that the market after a very strong opening shall progressively fall a bit. It may ultimately close around 4400 levels (cash).

With best wishes,
Gaurav Kumar

 

[uasish]

http://www.traderji.com/106390-post141.html

Thks for sharing your views.Plz stick to your comfortable time frame ,all through out ,when this is giving you money,(unnessary to advise you,you are well aware of this & you yourself sorted out the negative),still this is heart felt,seen my guys falter sometimes.

 

[Gaurav Kumar]

Dear Friends,
We have taken a nifty future at 4345. we plan to sell at 4380 odd to remain on the safe side.

Gaurav Kumar

 

[rkkarnani]

Dear RKKarnani,

Discipline need not make one rigid.. that is what i learnt at some cost..
Let me tell you over the years i have been in and out of futures in the first 7 years of investing experience.

There was a stage when despite being able to predict the market well i had stopped trading futures as i had lost a lot ,thanks partly due to the SLs that kept getting trigerred. everytime it would appear as the market would fall to just my SL level and then rise leaving me with a loss even though my analysis was right.

After having lost everything i had earned, i traded only cash segment and made some money. This i did with a longer horizon in mind rather than intraday trades.

Finally, i started applying the same principles to F&O. The only modification is that i had to take into account sharp market falls. Once i studied that nad developed control, there has been no looking back.

It would interest you to know that i am holding ITC futures at a price from the price of 155 for about three months now with a price target of 200+. The only trades i do is to roll over every month. And the returns would be much higher than what i would have made if i had traded it. In effect i should get 150% plus returns in less than a year. I hope that kind of return is good enough for all traders...

With best wishes,
Gaurav Kumar

To me just like honesty, i.e one can either be honest or dishonest, there is nothing like "not that honest" or not that dishonest. Similalrly there can only be 'discipline' or indiscipline. There cannot be a 'flexibility' in discipline.

Well SL are there to safeguard one against any counter move. If used at proper levels are really effective. Though I agree that many times they get triggered and from almost that level we find the trend reversing in our direction. But if the ratio of SL that kept u out of a profitable trade and the SL that saved you from BIG LOSS is in your favour you are bound to win. Lately I find that if 10 of my SL are triggered alomost 4/5 SL moved me out of a profitable trade but the remaining 4/6 also saved me from huge losses thus making the strategy really positive to my overall strategy.

 

[Gaurav Kumar]

http://www.traderji.com/106390-post141.html

Thks for sharing your views.Plz stick to your comfortable time frame ,all through out ,when this is giving you money,(unnessary to advise you,you are well aware of this & you yourself sorted out the negative),still this is heart felt,seen my guys falter sometimes.

Dear Ashish,

Agreed with what you say. That is precisely why i advised that people should do paper trades before trying my methods.

What "traders" do not take into account is that market does not fall like a stone. It yo yoes, which gives you opportunities to exit. "Traders" often take decisions in a spur of the moment and lose money. At least i was not successful. So i switched to this method.

You would notice that at any given time i have enough back up to handle a sudden fall, so cannot falter easily. Yes, i would agree that for a new trader, it would require nerves to handle waht i do. I have taken years to overcome fear. That of course was without guidance. Now i do guide others and i find that on an average it takes about three months for a person to overcome fear under guidance.

With best wishes,

Gaurav Kumar

PS the target of 5200 on Nifty is in the long term, so it is not that i am planning to hold this position till then. But what it does mean is that i do think twice before holding a short position, whereas i dont mind holding a long position

 

[Gaurav Kumar]

To me just like honesty, i.e one can either be honest or dishonest, there is nothing like "not that honest" or not that dishonest. Similalrly there can only be 'discipline' or indiscipline. There cannot be a 'flexibility' in discipline.

Well SL are there to safeguard one against any counter move. If used at proper levels are really effective. Though I agree that many times they get triggered and from almost that level we find the trend reversing in our direction. But if the ratio of SL that kept u out of a profitable trade and the SL that saved you from BIG LOSS is in your favour you are bound to win. Lately I find that if 10 of my SL are triggered alomost 4/5 SL moved me out of a profitable trade but the remaining 4/6 also saved me from huge losses thus making the strategy really positive to my overall strategy.

Dear RKKarnani,

Lets figure this out finally. I have my view on SL and you have yours. I have given my logic for not using SL and you have given yours for using the same.

As i have said earlier, if you are making money you are a king. I have nothing against that. Similarly, if my method works for me you should have nothing against that.

Since we have both voiced our opinions on the subject several times, lets leave it at that. It should be obvious to both of us that we cannot influence each other to change our viewpoints which are borne out of our experiences, which are different.

Lets just follow the thread and if you have a question, please ask.

I request that the issue of Stop losses not be raised again. I am tired of responding again and again on the same issue. Next time i shall ignore it.

With best wishes,

Gaurav Kumar

 

[rkkarnani]

Dear Friends,
We have taken a nifty future at 4345. we plan to sell at 4380 odd to remain on the safe side.

Gaurav Kumar

Ok entered the entry point in paper trade. We sell at 4380.
When do we enter more qty. or hedge??? any levels in mind or we decide whether to cross the bridge or not only when we come to it.
What i mean to ask is :
DO WE HAVE ANY PREDETERMINED LEVELS FOR THIS ACTION.
I feel comfy only when i know my actions at certain levels of the mkt.

 

[Gaurav Kumar]

Ok entered the entry point in paper trade. We sell at 4380.
When do we enter more qty. or hedge??? any levels in mind or we decide whether to cross the bridge or not only when we come to it.
What i mean to ask is :
DO WE HAVE ANY PREDETERMINED LEVELS FOR THIS ACTION.
I feel comfy only when i know my actions at certain levels of the mkt.

Dear Rkkarnani,
I am comfortable at this moment and believe market has to go up. Till the market shows a change in pattern, why should we hedge?
The predetermined thing is market is to go up. Till it shows a definite signal that it shall not we will not hedge.
Such a decision is mostly at the end of the day and on a few occassions in day trades (when a news is bad enough)

So no SL and no hedging level for today

With best wishes.

Gaurav Kumar

 

[sikandar]

After gap up open our entry was slightly higher

sikandar

 

[rkkarnani]

Dear RKKarnani,

Lets figure this out finally. I have my view on SL and you have yours. I have given my logic for not using SL and you have given yours for using the same.

As i have said earlier, if you are making money you are a king. I have nothing against that. Similarly, if my method works for me you should have nothing against that.

Since we have both voiced our opinions on the subject several times, lets leave it at that. It should be obvious to both of us that we cannot influence each other to change our viewpoints which are borne out of our experiences, which are different.

Lets just follow the thread and if you have a question, please ask.

I request that the issue of Stop losses not be raised again. I am tired of responding again and again on the same issue. Next time i shall ignore it.

With best wishes,

Gaurav Kumar

Had no intention to irritate you, and was written in normal way. Noted and the matter of SL shall not be raised by me on this thread.
Thanks and regards.