Did not trade yesterday. Today Nifty opened within previous day range. Broke PDH and BRN. Long on BPB of BRN. Trailed and stopped out at RN 8150. Did not take any trade in the afternoon as today is contract expiry. From tomorrow Nifty Futures lot size changes to 25
Thanks ST,
ReplyDeleteDid not trade today
I closed the second month with 4% loss .
First month it was 5 % loss .
Is it normal or am I doing something terribly wrong
thanks n rgds
Kishore
It is normal. With 4% a month, you can survive for 2 years in the market and learn
DeleteMost of the novice derivative traders will not last for 3 months.
If price moves start making sense to you, Nothing to worry. It is just a matter of time.
ST
Yes ST,
DeleteI can feel the improvement . and price action has started making sense .
thanks
Kishore
And thank god lot size reduction is a blessing for people like me ...
Deletethanks
Kishore
Hi ST,
ReplyDeletePlease comment on my yesterdays trades
http://tradingdecisionpoints.blogspot.com/2014/10/29-10-2014-trade-1-bof-long-scracthed.html
rgds
Kishore
Nothing much can be done yesterday. There was no price move
DeleteST
Hi ST
ReplyDeleteWhat is going to be your strategy from tomorrow as the lot size is getting reduced??
Thanks
TBP
Currently I am trading 50 and occasionally 100 for good signals
DeleteStill all in all out.Need to work on partial exits
ST
Please confirm whether the lot size change in NF for all 3 months or Jan month only?
ReplyDeleteIt is for all months.
DeleteIf you are holding Nov contract 1 lot ( 50 Nos), it becomes 2 lots automatically
Tomorrow you can sell half of it if you want
ST
Thanks ST..
ReplyDeleteHi ST,
ReplyDeleteI am facing serious issue with SL. Today i've trailed my SL to 10:12 candle (8108) assuming that pull back as a minor swing point and the SL was triggered at 10:33 candle. Can you please advise how did you do your SL trail on today's trade.
Thank you,
Kiran.
Start trailing after price moves say 20 points in your favor unless it is not hitting a DP or trouble area
DeleteConsider the quality of entry also. Today price went above PDH, a major change. Broke BRN an important Option strike. This level is likely to get protected being an expiry day. Your risk was low and behind BRN and PDH, two important levels. There was a lot of space above. What is the point in protecting your 5 point profit?. You rarely get these kind of trades. Give it a little room to play out
ST
ST,
DeleteWhats was your SL at 10 30 ?
rgds
Kishore
My physical stop was below PDH.
DeleteYou can have a disaster physical SL at a distance and have a mental SL
This way you can escape some unwanted stop outs
ST
ST
Hi ST,
DeleteI couldnt understand it .
What is physical SL and mental SL.
Kindly elaborate
thanks
Kishore
Physical means I feed a SL order in the system
DeleteI will always have one for emergency situations to avoid disaster
Mental means I will identify a level beyond which I decide to exit
This is done by clicking square off button
ST
thanks ST understood
DeleteHi ST,
DeleteThanks for the nice explanation. In this case, where was your mental SL, was it below BRN?
In this particular case I will think of exiting below BRN if price reversed
DeleteST
Can you explain the thought process behind the BPB trade that you took. There was a big green candle which went above the BRN, then a small red candle which fell below the BRN and then a small green candle which only went marginally above BRN. Infact on my charts the green candle closed at 8101.3. You went long above this candle. How were you sure that the price has been accepted above the BRN?
ReplyDeletePrice was in a range yesterday and broke it after 3 PM . Just 10 point move up then
DeleteToday gaped down a little and retested the yesterday range high.Initial move was up, DO and LOD same
Broke IR MC, Broke PDC,PDH, IRH and BRN. Climbed above PDH and entered a new area. major transition.
Settlement day.price showing bullishness. Broke above Option strike level.Level may get defended strongly
Daily in Rally, Price in a higher range than yesterday. Likely to move into a higher range, Lot of space above, Critical mass is not long to look for profit booking, Risk is 7-8 points with SL below PDH. Not enough to take a chance?
ST
"Start trailing after price moves say 20 points in your favor unless it is not hitting a DP or trouble area"
ReplyDeletedid you meant "hitting" instead of "not hitting".
If I am wrong could you please rephrase the sentence .. :) ..
thanks a lot
rgds
Kishore
If price bounces of a DP, I will always exit on the break of a swing point
DeleteI will never wait for a complex pull back or a TRAP
ST
So if its not near a DP you wont exit below a swing low if we are not in 20 point profit ?
Deletergds
Kishore
It depends on other factors also
DeleteCant make rules like that.Basically we are trading DP to DP
ST
Dear ST,
ReplyDeleteDay by day I am getting some feel of the market from concepts learned from here.
I have some questions asking just for curiosity.
You are getting most of the time 20 or 30 points profit and your lot size is 50.
Is it enough for trade for living?. I have confusion how much profit are u getting.
Regards,
Nagendra
No . My trading income is not sufficient to meet my expenses as of now.
DeleteI have other sources of income to fall back.Do not try to trade for a living unless you have sufficient capital that you are willing to lose and enough reserves to run your home for at least two years
ST
Thank you.
DeleteDear Capitalstars,
ReplyDeleteI visit Nifty Nirvana to gain some knowledge, certainly not seeking any tips. Since you have visited here, my sincere advice to you is to spend some quality time going through this blog. Read all the posts of ST Sir, visit all sections including the comments, download all available resources to read offline.
Believe me, in a few weeks' time you will be good enough to earn a decent living by trading Nifty futures via DP method. You can confidently give up your tipster life and you no longer have to lure gullible traders to your tips trap to make a living.
This is the right time to start as the Nifty lot size has been reduced. You can learn to trade the method with less risk.
All the best,
KSG
KSG
DeleteI am getting at least 2-3 comments from tipsters everyday
I am moderating and deleting all those
ST
Good Morning ST,
ReplyDeleteWith zerodha, if I buy and sell 2 lots of Nify (25x2) the brokerage, etc. should not change because it is all in and all out, am I correct?
Brokerage will remain the same
DeleteST
Thanks ST. Just changed the order preferences in Zerodha trader to default 2 lots, that way I wont be caught selling 2 and covering one :)
DeleteHi ST
ReplyDeleteFound this on Zerodha
http://zerodha.com/z-connect/zerodha/bulletin-latest-at-zerodha/lot-sizes-reduced-for-various-nse-fo-contracts
Thanks
TBP