NIFTY Futures Mechanical Trading

[nadodav]

NIFTY FUTURE For December 28,

Current position : LONG (at 5910 on 24/12/2007)

Nifty Fut Closed at : 6120.30 (Jan)

Profit/(Loss) in current trade : +210.30 (as per last closing price)
Net Profit / (Loss) since thread started : +545.30(335.00+210.30)

Support : 6048
Resistance : 6132

Hold LONG positions with SL 6048. If trades below 6048, exit LONG & go SHORT with SL 6132.

Happy Trading !

Vinod

 

[newbee]

NIFTY FUTURE For December 28,

Current position : LONG (at 5910 on 24/12/2007)

Nifty Fut Closed at : 6120.30 (Jan)

Profit/(Loss) in current trade : +210.30 (as per last closing price)
Net Profit / (Loss) since thread started : +545.30(335.00+210.30)

Support : 6048
Resistance : 6132

Hold LONG positions with SL 6048. If trades below 6048, exit LONG & go SHORT with SL 6132.

Happy Trading !

Vinod

Hello Vinod

Nice effort, specially for the consistancy of your regular posts.

Since you consider practical aspects like gap up openings you should also consider roll-over cost. To roll over the long position from Dec to Jan future we would have to consider premium on Jan futures.

Thanks and regards
nb
___________________________________
TRADE WHAT YOU SEE, NOT WHAT YOU THINK

 

[nadodav]

Roll over cost of 30 points already considered. pl check my last two messages. earlier clear profit was 365 points but now it is 335 points.

Vinod

Hello Vinod

Nice effort, specially for the consistancy of your regular posts.

Since you consider practical aspects like gap up openings you should also consider roll-over cost. To roll over the long position from Dec to Jan future we would have to consider premium on Jan futures.

Thanks and regards
nb
___________________________________
TRADE WHAT YOU SEE, NOT WHAT YOU THINK

 

[sachin_jain3]

Hello Vinod,

Really Great Effort, especially the way you provide the days strategy before the beginning of the day.

I have one doubt though. when you specify the support and resistance, are those for Nifty or on one month future on nifty. Should Nifty Trade below 6048 or should the Jan Future Trade below 6048 to close the position and take opposite position?

thanks,
Sachin

 

[nadodav]

Hello Vinod,

Really Great Effort, especially the way you provide the days strategy before the beginning of the day.

I have one doubt though. when you specify the support and resistance, are those for Nifty or on one month future on nifty. Should Nifty Trade below 6048 or should the Jan Future Trade below 6048 to close the position and take opposite position?

thanks,
Sachin

hi Sachin,

It is for current month Nifty Future. Jan Futures needs to trade below 6048 to change position.

Vinod

 

[sachin_jain3]

Hello Vinod,

Regarding the SL only, how do we ascertain that the SL has been triggered. If the contract trades below the SL even once would we say that the SL has been triggered. Or should the contract trade below the SL for some time (Say 5 minutes) to say that the SL has been triggered

Today is a classic case for e.g. the contract did trade at 6047, would you say that the SL has been triggered and we should reverse the position?

Sachin

 

[nadodav]

Hello Vinod,

Regarding the SL only, how do we ascertain that the SL has been triggered. If the contract trades below the SL even once would we say that the SL has been triggered. Or should the contract trade below the SL for some time (Say 5 minutes) to say that the SL has been triggered

Today is a classic case for e.g. the contract did trade at 6047, would you say that the SL has been triggered and we should reverse the position?

Sachin

hi

I have written in my first message of the thread that we have to see around 2-3 minutes to confirm that the SL is broken. In today's case probably 2-3 trades might have happened below SL & may be traded few seconds below SL so it is not to be considered as SL broken.

Thanks & Regards,

Vinod

 

[nadodav]

NIFTY FUTURE For December 31,

Current position : LONG (at 5910 on 24/12/2007)

Nifty Fut Closed at : 6118.30

Profit/(Loss) in current trade : +208.30 (as per last closing price)
Net Profit / (Loss) since thread started : +543.30(335.00+208.30)

Support : 6067
Resistance : 6142

Hold LONG positions with SL 6067. If trades below 6067, exit LONG & go SHORT with SL 6142.

Nifty Fut.xls is updated in my 1st message of this thread

Happy Trading !

Vinod

 

[robin027in]

Hello Mr Vinod


I Have Studied The Excel Sheet For The Past Two Months As Attached. I Think The Profits Given Were Among The Best During This Volatile Session.

As The Paper Trading For Two Months ,as Suggested By U In Ur First Msg Is Over I Would Like To Trade Nifty As Per Ur System. In This Regard I Have A Few Questions. I Hope It Will Not B Much Trouble For U.

1) I Had Applied The Pivot Trading System( as The Values For Ur System Were Not Available For That Period) From Jan 2007. It Gave Me Good Returns For First 4 Months ,till April. Thereafter The Losses Were Considerable May= -250 Pts,june= -282pts, July= +60pts, Aug= -437pts.
I M Aware That Ur System Is Different To Pivot Point Trading, But Could U Roughly Tell Me Ur Results From May To Aug 2007. The Reason Why I M Asking This Is Because I Intend Being Prepared For The Losses At A Stretch So That I Can Allocate My Capital According To The Worst Case Scenario(keeping The Number Of Lots Same) And Do Not End Up Overtrading In The First Rough Patch.
As Per The Beginning Of The Thread The Maxm Loss At A Stretch Were About -200 Pts. But Shall I B Repared For More Than That(at A Stretch I Mean)?
2) Secondly, How Do One Put An Order For Stoploss. As U Mentioned That We Need To Watch For 2 Mins Before Exiting. Does That Mean That I Should Be Watching The Screen At That Period Or Place The Order -5/10 Pts? What Do U Suggest?

Frankly Speaking Ur Method Has Shown Lots Of Promise And Hope But U Would Appreciate ‘once Bitten Twice Shy’ Approach Really Makes One A Bit Apprehensive In This Mkt.

Regards
Robin

 

[nadodav]

Hi Robin,

I will post last one year result alongwith actual trade within 2-3 days. Infact, i was just waiting for 31st dec so that i can post result of one year. If you need, i can also provide support and resistance levels since nifty futures trading introduced in nse for your study purpose so that you can have better idea. for stoploss order, you can place 5 to 7 points below/above support and resistance for confirmation of reversal.

Thanks & Regards

Vinod

Hello Mr Vinod


I Have Studied The Excel Sheet For The Past Two Months As Attached. I Think The Profits Given Were Among The Best During This Volatile Session.

As The Paper Trading For Two Months ,as Suggested By U In Ur First Msg Is Over I Would Like To Trade Nifty As Per Ur System. In This Regard I Have A Few Questions. I Hope It Will Not B Much Trouble For U.

1) I Had Applied The Pivot Trading System( as The Values For Ur System Were Not Available For That Period) From Jan 2007. It Gave Me Good Returns For First 4 Months ,till April. Thereafter The Losses Were Considerable May= -250 Pts,june= -282pts, July= +60pts, Aug= -437pts.
I M Aware That Ur System Is Different To Pivot Point Trading, But Could U Roughly Tell Me Ur Results From May To Aug 2007. The Reason Why I M Asking This Is Because I Intend Being Prepared For The Losses At A Stretch So That I Can Allocate My Capital According To The Worst Case Scenario(keeping The Number Of Lots Same) And Do Not End Up Overtrading In The First Rough Patch.
As Per The Beginning Of The Thread The Maxm Loss At A Stretch Were About -200 Pts. But Shall I B Repared For More Than That(at A Stretch I Mean)?
2) Secondly, How Do One Put An Order For Stoploss. As U Mentioned That We Need To Watch For 2 Mins Before Exiting. Does That Mean That I Should Be Watching The Screen At That Period Or Place The Order -5/10 Pts? What Do U Suggest?

Frankly Speaking Ur Method Has Shown Lots Of Promise And Hope But U Would Appreciate ‘once Bitten Twice Shy’ Approach Really Makes One A Bit Apprehensive In This Mkt.

Regards
Robin