NIFTY Futures Mechanical Trading

[jace48]

Dont worry about support worry only about stoploss.

 

[Ank!t007]

Now since Nifty has cracked Support : 4553 , we need to reverse and go LONG with stop loss of ?(XX) and 4553 as resistance ?
what should be the stoploss on the downside ?
or just go LONG without worrying on the downside ?

Please read the previous post of nadodav.
Reverse your position if it crosses day high i.e 4540

Ankit

 

[sanx]

Please read the previous post of nadodav.
Reverse your position if it crosses day high i.e 4540

Ankit

yes sir , I read that ,we need to go LONG , but with what stoploss ?
thats what I dint understand , can you help ?

One more I need to understand is that if we reversed SHORT and gone LONG at 4553 , we found that market slided and went further down all the way till 4420(as off now ) , is reverse a wise decision ?

 

[Ank!t007]

yes sir , I read that ,we need to go LONG , but with what stoploss ?
thats what I dint understand , can you help ?

One more I need to understand is that if we reversed SHORT and gone LONG at 4553 , we found that market slided and went further down all the way till 4420(as off now ) , is reverse a wise decision ?

Please read the entire thread to understand the system and only then take any position. If you are holding any position in doubt just get out !

Ankit

 

[nadodav]

yes sir , I read that ,we need to go LONG , but with what stoploss ?
thats what I dint understand , can you help ?

One more I need to understand is that if we reversed SHORT and gone LONG at 4553 , we found that market slided and went further down all the way till 4420(as off now ) , is reverse a wise decision ?

First of all, pl go through entire thread than only trade.

Support : 4553
Resistance : 4668

Hold SHORT position with SL 4668. If trades above 4668, exit SHORT & go LONG with SL 4553.

Today, we can not exit our SHORT position till market trades above 4668. If market trades above 4668 than only we will exit SHORT and at the same time we will go LONG with SL 4553.

 

[nadodav]

i was asking that question because i have few doubts..we hold short and by imagination if monday trades below 4553 and goes to 4510 or below and recovers from that levels to 4608 i.e on account of global cues being positive in afternoon or last hour (this can happen though chances are very low.,but our markets behaving very volatile in last few days, behaving in weird manners )...
according to your system is it advisable to consider 4553 as new resistance level and to reverse the holding to long , so that we can have some profit or or just change position only when level of 4668 reached..
if it closes below levels of support ,there would be absolutely no problem as you will provide new levels for next day..

pls explain..sorry if i trouble you too much
thanks in advance..

Hi,

Whenever your position is in profit, than stop thinking. you have to think only if you encounter more than 5 consecutive loss making trades. till than you have to follow blindly. do not worry about profit. let profit come its own way. the support and resistance are valid for particular day only. so for today, we just have to watch resistance i.e. 4668 only. if market trades above 4668 than only we have to act and change position from short to long. you can lock profit by using options whenever you have good profit

Vinod

 

[coolbuddyin]

Hi,

Whenever your position is in profit, than stop thinking. you have to think only if you encounter more than 5 consecutive loss making trades. till than you have to follow blindly. do not worry about profit. let profit come its own way. the support and resistance are valid for particular day only. so for today, we just have to watch resistance i.e. 4668 only. if market trades above 4668 than only we have to act and change position from short to long. you can lock profit by using options whenever you have good profit

Vinod

thanks for reply and clearing doubts

 

[nadodav]

NIFTY FUTURE For June 10,

Current position : SHORT (at 4608 on 06/06/2008)

Nifty Fut Closed at : 4466.60

Profit/Loss in current trade : +141.40 (as per last closing price)
Net Profit/Loss since thread started : +1722.40 (1581.00+141.40)

Support : 4415
Resistance : 4574

Hold SHORT position with SL 4574. If trades above 4574, exit SHORT & go LONG with SL 4415.

Happy Trading.

Vinod

 

[skarpio]

[...] you can lock profit by using options whenever you have good profit
Vinod

Can you elaborate please?

 

[vinst]

I have sent my NF levels for 11 June to Vinod ji.

regards,
vin