Best Nifty Strategy-Must Read

[fofi30]

stop losses are to be followed strictly.

Long has been executed now

is it safe to play gann on an expiry day ?

 

[mehtaka]

did you cover your short call

nope...
s/l had been triggered on shorts...
now i am long in nifty

 

[mehtaka]

is it safe to play gann on an expiry day ?

not sure abt this...same question from my end...
as recently strted playing on these levels..


may be senior can answer on this...

 

[architarora]

not sure abt this...same question from my end...
as recently strted playing on these levels..


may be senior can answer on this...

ofcourse its safe. u jst never wich move would achieve all targets...but wt i personally do is stop trading for the day if 2 stop losses are consecutively hit. i then wait for at least 1 target to be achieved on any side. once this condition is fulfilled i resume my trading because the range set by nifty has been broken and hence a direction has been found.

 

[fofi30]

ofcourse its safe. u jst never wich move would achieve all targets...but wt i personally do is stop trading for the day if 2 stop losses are consecutively hit. i then wait for at least 1 target to be achieved on any side. once this condition is fulfilled i resume my trading because the range set by nifty has been broken and hence a direction has been found.

i totally agree with you. if 2 stop losses are hit ,it is better to see the trend and then move according to the trend

 

[fofi30]

i think if one stop loss is hit (rather than hitting 2 stop losses) , it is better to wait until a target is reached , then start a postion

 

[mehtaka]

ofcourse its safe. u jst never wich move would achieve all targets...but wt i personally do is stop trading for the day if 2 stop losses are consecutively hit. i then wait for at least 1 target to be achieved on any side. once this condition is fulfilled i resume my trading because the range set by nifty has been broken and hence a direction has been found.

I guess Fofi was asking abt the trading on the expiry day, whether its safe or not?
Also on expiry day whether to trade on the expiry contract (current one), or the next contract?

 

[jxcess]

how many were successful today? I was not

 

[fofi30]

how many were successful today? I was not

i think in this method too much whip saw happening with the present stop loss.
I feel as architarora suggested, if we lose one trade we should be careful not to jump immediately onto the next trade, unless it is confirmed by reaching the first target. but then the number of trades will be reduced , but losses will be less.

 

[UPADHAYAY101]

Recommendation:
Buy at / above: 4692.25 Targets: 4707.03 - 4724.19 - 4741.39 - 4758.61
Stoploss : 4675.14
Sell at / below: 4675.14 Targets: 4660.39 - 4643.33 - 4626.31 - 4609.31
Stoploss : 4692.25