Table suggests a range of 5265 to 5305.
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
64 comments:
@prabhakar,
I think I can help you, before that we need to discuss something like connection, cache,browser, disk issues. If you have YM, please chat with me, my yahoo messenger id is jaadugar1985.
Thanks piyush and ilango for sharing your thoughts
others seem to be busy..:(
Even I feel the same...In my swing trades I dont follow any target level..and let market take the price it to where it wants
How ever while day trading I feel we should have a target
How much that's is big question...the reason I feel that way is because in day trading we are restricted by "time"
So how much is enough for me ?...I would say we should take the average profits of last 100 day trades ..see what percent profits we made per day per trade...lets say if that comes to .5 %...then expecting 1 percent per day should be good (although over expectation)
Now looking at stock 's intraday movement...can we get 1 percent return? ...of course we can get
In fact 1 percent will look like too easy (under expectation)...if we find set ups and good entry and restrict our self to 1 percent (or what ever we are comfortable with)...for the next 100 percent we will end up doubling our profits
Easier said than done!!
The whole idea of trailing stops doesnt sound good while day trading (just my opinion)..while this strategy goes against the idea of letting your profits run!!
Reader's thoughts will appreciated
Cheers
Sir
Can we short Bank Nifty at this level?
Regards
@ anuj
this is for discussion:
20 days trade a month
if we make average 10 point a day [200 point a month, with loss days profit days summed and averaged]
and if we have total expense of 100 point [20 x 5],
we are left with 100 point, and with 10% margin it gives 1% ROI.
and, if we cumulate, we may get a decent return annually.
Shall we call it 10point scalp !
Thank you Mr.Pisreport, I have no Yahoo messenger at present. Thank you very much for your reply.
Hi..Hitendra,
BN close to its recent high of 9793 and it could make a new high too.
Being "OB", it could come off a bit but such trades are risky.
If we get -ve div(Patience reqd), like the last time, then and then only shorting is advisable.
Ilango can i obey ORB for exiting shorts of yesterday??
@ san,
are we breaking out of a triangle at 5288 spot ?
Good Morning Everybody,
Dear Sethu,
I was going to write almost the same like you, for Dear Anuj,So thanks.
I tend to add NF above ORB 5292. Need a confirmation from Mr Ilango (intraday). I am carrying 1 lot from yesterday.
oops,
it was a nap.Sub editor must be fired.Please read Dear shine instead of Dear Sethu.
@shine, anuj,
though hypothetical, 100 points, 10% nse margin per lot
gives u 20% roi per month on margin.
rs 50000 for 2 lots
100 point profit pm
rs 10000 per 2 lots
@ mynac,
the meaning matters more than the address,
your thanks matters more than shine or sethu !
:)
is it ok to short HDIL
do not short hdil, rather go long with SL 281.
Yes..bizagra,
Follow NF ORB range of 5274 to 5294 and manage your position.
may request guidance I am new
Thanx for the advice Amit9765
@ piyush
yes, 20% permonth,
I had put it as daytrade 1% perday ...
Hypothetically 200% per annum ...
we should keep a separate tradelog and try it out.
@shine
triangle break out yes 5296
@ Bizagra Sir,
I didn't understand Sir's posting. Please explain me.
Thank you.
we have a triangle break out in nifty let's hope it's
not a false break out, triangles are known to give false
break out's.
@Bizagra,
Otherwise what is the stop loss of Yesterday's short.
@prabhakar
Morning ORB is 5274--5294. so as we are short, we are having 5295 NF as SL.
I exited @ 5297.
target for HDIL 288 - intraday
when is RIL result?
how is ITC Apr future at 264.50 for intraday trade today
@ san ,
u can also draw traingel with 5357 and 5330 as tops,
that has not broken out yet, side at 5315
Hai ilango sir and others
I am posting nifty 5 minutes chart here.
triangle break out.
http://niftychartsandpatterns.blogspot.com/2010/04/nifty-5-minutes-triangle-break-out.html
thank you
Thank you Bizagra.
I exited at 5306
AAR VEE (excuse)(Couldn't resist when I see so many frineds - it is becoming a rarity).
====
Good Morning.
1. Please tell me is it "5" points per trade that we are fleeced? My side advised to get out at 1.6 points to cover Brok+Tax. Please advise. Accordingly I toned down my trade for 7 to 10p from 12 points.
2. Prabhakar - just delete all cookies, history, temp files - if you are on Airtel - under-sea cable damage is being repaired.
3. RIL is expected to declare 1600c Profit. (But they made 9000c in other income selling shares)
At these levels, I will trade a SHort both BN & Nifty.
@Piyush
What is the time frame?
@shine
u told abt the system of 100 points
a month.i just calculated the roi.
Just 4 days to go for expiry,still no significant roll over for NF in next series.
@Anuj,shine ,piyush and all
THIS IS A REPOST OF A COMMENT BY SOME BLOGMATE IN JAN.(with ref./courtsey of some other blog).
Hope it helps
---------------------------------------------------------------------------------------------------
1.on an average there are 240 trading days in an year
2.If a day trader makes just 5 points, every trading day, he makes 1200 points an year
3.On an average it takes 600 points to double your money, if trading in futures
4.A trader who begins trading with 1,00,000 and assuming he has no drawdown since he doesn't carry any positions overnight, doubles his money in first 6 months, assuming he neither redeploys the earned profits nor withdraws them
5.So after 6 months he has a capital of 2,00,000!!!!!!
6.After doubling his capital he starts trading with 2,00,000, instead of initial 1,00,000
7.At the end of the year he has 4,00,000 (at the end of the 5th year he would have made 10 Crore, ignoring taxes, and the fact that much before 6 months he would have the ability to increase his position size:::so no need to worry for taxes!!!!)
8.This corresponds to a profit of 300% per year
---------------------------------------------------------------------------------------------------
@san
5 min timeframe start frm 15 april top
Thank you Mr.Rajagopal
Ilango sir wht sl u are taking for yr shorts?
@ AAR VEE
thats great encouragement ...
should try out dedicatedly with one far series allotted for it.
@ piyush
Yes piyush, I actually appreciated your thoughts, I did not criticize you :)
just a humble suggestion to everybody.
can we have discussion like how much profit etc outside mkt hrs. it is becoming difficult to read relevant posts regarding mkt.
if you still want a discussion, can you atleast mark in begginnng that it is Out of Tipic.
@ kgovind,
sorry,
will stop this discussion.
Sir
What is the target for Short in Bank Nifty?
Thanks
@RG
Hi,Carry on Buddy
On the humble suggestion of KGovind,I should take a leave and carry on my selfimposed'cyber celibacy'
Sorry to folks for posting irrelevant information.
Bye for now,catch u EOD.
Sethuji,
you are posting here to visit your blog, thank you. But that site being open by invitation, how anybody can visit that site?
llango sir @ what is sl of nifty and bank nifty ple tell us ......... thanxs
sir what is the view on infi now
Ilango sir, i hope conservatives are still long? so i m having no position and waiting.
Dear Ilango,
Now, 5200 PE writers are trying and shall try to keep Nifty, maximum away from their strike price at least up to expiry. How much they will succeed in it will be a moot point. The coming days would be decider. As a trader in spite of the rise still I am not convinced with this up move. We shall watch it.
"Shorts" suggested as Indices were trading near the resistances discussed earlier & BN closer to its channel res.
These are for small targets only. Nifty need to break 5298NF to fall more towards 5275-5265.
BN has earlier res. @ 9705...could be a first support.
Volumes have accompanied all the rises so far..So trade light for such small gains.
Keep Day's high or a +10-15pts as SL.
ilango sir where to exit long and create short plz tell us
Respected Illango sir
sir i am holding short from 5290.....can i hold it till eod if you see cracks later.....or to exit omn sl 5315NF
pl. guide
regards
vikram
@piyush and shine
I have added the bigger triangle suggested by piyush
to the earlier post.
thank you
Dear Ilango,
What a coincidence!both comments at the same time 11:29 AM.Thanks for the answer.
@ Mojib,
As suggested in the PreMarket view, I expect a broader range trading for few days..in 5255-5265 to 5315-5325. Break of 5235 will trigger a bigger fall.This level might be revised everyday.
@ Vikram,
5325NF is the resistance. I would wait & see Nifty's action @ that level, if it comes.
2-minute chart showing negative divergence
Sold @ 5308 (NS) Sl 5315 Target 5285
@shine,piyush and aar vee...thanks for sharing your thoughts
will discuss this some other time...
@KGovind
Sorry for the trouble..good luck
@KGovind and all
Perhaps this is a better way to say sorry!!
Buy Nifty Futures @ 5300 or CMP
Stop loss 5290
NEW POST DONE.
Dear ILLANGO SIR & Everybody,
can i hold tata motors long???
I have since followed the master.. Mahajana jenah gatashya panthaa..:)
Anuj,
I was actually buying NF...i bot 1 at 5300.5 April, 5300 at May. Keeping SL 5292
I already traded and now i am seeing your msg. what a coincedence. What is your target ? Is it intraday or posintional.
About the profit discussion. i did not say do not discuss. i only said you have to identify in top of post that it is OUT OF TOPIC so that ppl like me can skip the post immediately.
Sir, did I say anything wrong ?
@kgovind
It was for intraday...stop loss triggered :((...
No no...it's fine...nothing wrong in expressing your thoughts
Now will trade post 1 pm on a pull back...after Europe stabilizes
Cheers
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