1 I am making my target of 1000 Rs profit on 2 lots of nifty
2 The rise in nifty is not looking that strong to me as the opening.
3 The RSI (9) is clearly showing -ve divergence on the 5 min chart between the high at 11:24 and 12 :30. so to protect my targt profit of 1000 i squeezed the sl to 5082
of course the nifty then went on to 5100
Now i have put a SL for my medium term long nifty at 5044 using this same levels (ofcourse only 2 lots there too.
To: Technical-Investor@
From: pankaj013@gmail.
Date: Tue, 1 Dec 2009 13:21:11 +0530
Subject: Re: [Technical-Investor
from my dairy
today nifty future opens at 5046.1 that means Scenario 2 is satisfied
long after nifty moves above 5068. I put a biuy SL order at 5069 trigger targt 5071
buy hit at 10:15 @ 5070 - put a sl of 5046
10:25 Move sl to 5060 nifty 5074
11:20 SL moved to 5070 nifty 5080
11:45 SL moved to 5074 nifty 5090
11:59 T1 of 5093 acheived pos open
12:15 sl tightened to 5082 as MACD is turning -ve and rsi(9 period) shows divergence
12:21 SL of 5082 hit and position squared up
per lot profit after removing commisions is Rs 540:00
Now i wil wait for the next trade
Kumar Date: Tue, 1 Dec 2009 04:52:26 +1100
Subject: RE: [Technical-Investor] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
as far as i have read the theory, you need to take the day trade call depending on the tomorows open
T1 T2 T3 SL Scenario 1 open between 5046 & 5000 Long let price go below 5000 and move above for a target of 5031 5038 5046 4978 H3 L3 Short let the price go above 5046 and then move below trgt of 5015 5008 5000 5068 Scenario 2 open between 5046 & 5068 Long wait for price to move above 5068 5093 5119 5046 H3 H4 Short if price goes below 5046 5015 5008 5000 5068 Scenario 3 open between 5000 & 4978 Long if price moves above 5000 5031 5038 5046 4978 L3 L4 Short if price moves below 4978 4953 4933 4918 5000
so as u can see the long or short gets triggred only ater certain conditions are satisfied.
like break outs after touching certain prices. What i have found is they are normally stronger on the side of the break out
For eg : tomorows open is 5025 so that means scenario 1 is satisfied. then you dont go and buy when the price breaks 5046.. you buy only when the price goes down and then crosses 5000. Psychologically it mean that the market has sol off in the morning for any reason and then a strong buying has emerged pushing the price above l3 level ie: 5000 , now u wait for the price to move towards the targets. The stop loss is for worst case scenario..
As it was mentioned in one of the mails the ratio of 1:3 sl to profit is not followed here purely on the price and sl levels. but it has been noticed that you never hit the stop loss if the conditions remain normal. (normally it is that way most of the days)
As the prices advances u move the sl levels to nos loss levels and wait for the price to reach
T1 t2 t3 al the while moving ur sl to higher levels.
Also remember this is purely for day trade. i tried it using on weekly levels and failed every time.
It works very wel in nifty . but may not work so well in individual stocks.( i havent tried)
Secoundly never use this method on expiry days.
If you wish to have the formulaes to calculate i can send u the same. it was also given in one of the earlier posts by one of the members for calculating the AFL in amibroker
But i use pure excel file and put the l;evels physically
To: technical-investor@yahoogroups. com
From: nareshch@live.in
Date: Mon, 30 Nov 2009 21:19:34 +0530
Subject: RE: [Technical-Investor] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
Hi Kumar ,
I assume 5040 is The Long break out (H4 ) and 4097 is short level (H3) as per your levels.
The normal practise For SL in Camrilla is , 5040-4097 = 43 points , half of it is 22 Points .So the SL is 5040-22 =5018 .
You can try a backtest and see how it works out .
Naresh
To: technical-investor@yahoogroups. com
From: kumar40@hotmail.com
Date: Mon, 30 Nov 2009 20:34:44 +1100
Subject: RE: [Technical-Investor] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
TODAY being a volotile day, i am not geting any signals to either go long or short in this set up
But using camirilla pivot levels the long was above 5040 for a trgt of 5066 and 5091 sl of 4997
and for short it will be below 4997 for a target of 4950 - 4938 SL 5040
Kumar
To: Technical-Investor@yahoogroups. com
From: deepakpatade@yahoo.com
Date: Mon, 30 Nov 2009 01:25:30 -0800
Subject: Re: [Technical-Investor] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
I use Sharekhan for tradingI just put that in charting od SharekhanFOR macdaverage type Eavrage period 9short type Eshort period 9long type Elong period 21 ANDfor RSI this settingsAverage type EAverage period 9RSI period 91. Correct me if this settings are correct.2.BUT RSI shows ( in 5 min )too many whipsawsPlease explain more in detailDeepak Patade,
Nasik.
From: kk s <kumar40@hotmail.com >
To: technical-investor@yahoogroups. com
Sent: Mon, November 30, 2009 2:38:06 PM
Subject: RE: [Technical-Investor] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
HI FLOYD
I have been doing intra day tradibg on the nifty Future for quite some time now
I use the MACD (E9 e21 ) on a 5 min chart lso confirm with the 9 period RSI. doing quite ok
I also use the camirilla pivot levels to get into a trade .
Kumar
To: Technical-Investor@ yahoogroups. com
From: fjl24@yahoo. com
Date: Mon, 30 Nov 2009 00:32:01 -0800
Subject: [Technical-Investor ] Any Specific Strategy For Nifty Futures - Both Intraday, BTST & Swing & Positional Trades (Max 2 weeks)
Hi SeniorsAnything specifics already shared with the group on how to trade Nifty Futures - for intraday, BTST, Swing and Positional trades (max 2 weeks only).I personally prefer Nifty Futures and pretty well know that the same does not work as per the normal cash scrips.AP had once posted that if one just trades in Nifty Futures and trades well he should be able to make decent profits. I am definitely interested in learning to trade nifty futures in particular and thus my interests in trying to understand OI as posted by Vish.Another reason why i am attracted towards Nifty Futures is because carrying short positions in not allowed in cash scrips in India and given the fact that markets trend only 40% of the times would not want to miss the short selling part of it.Would sincerely appreciate if seniors could share with us how they trade Nifty Futures in particular, the strategy that best works and anything and everything which we need to know about Nifty Futures.Am aware of the risks and exposures involved as have burnt my fingers in the past trading nifty futures but i guess those who are ready for it can take atleast 1 to 2 lots to begin with if they have the required capital i.e.Thanks in advanceRegards
From: G Prasanna Kumar <gangisetty_p@ yahoo.com>
Subject: [Technical-Investor ] Advise me on Bharti Airtel
To: Technical-Investor@ yahoogroups. com
Date: Monday, November 30, 2009, 3:01 AM
Hi Guys,I attached a chart of Bharti Airtel. From the chart, especially ADX oscillator is indicating a strong negative direction, but the stock is moving up.Please advise me how to interpret the chart.Thanks in advance
G Prasanna Kumar
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