Once again Turtle Soup ..

[rkkarnani]

Tata Steel trade as per TS+1 was void because the SL was hit before the trigger.

Note : My understanding may not be correct.

 

[pakatil]

Waiting for GodrejInd......Long....299.55 + .20 = 299.75, if triggered SL 296.40 - .15 = 296.25

Long triggered. Part booking at 302, SL for bal at entry.

 

[anup]

Sir,

Is nifty qualifying for TS trade??

 

[rkkarnani]

sir,canbank made 20 day low at465 30-1-2013.so turtle soup set up 20 day low+3 or 20day low+4days.iam right sir?.so that calculation 20 daylow+3 is 4th Feb.20day low+4 is 5th Feb.4th feb low is 452.go long abv 465.sl 452.(sir one more query TS+1 is tommorrow i mean 6th FEB)

What I understand :
Low of 31st Jan in my chart is shown as 462.45 which is lower than 30 jan low hence the criteria of 3 sessions earlier was not met yesterday when a new 20 days Low was made.

 

[rkkarnani]

Sir,

Is nifty qualifying for TS trade??

Seems a correct observation as per levels.
Long above 5969.15+filter and SL at 5964.25 less filter.. an excellent low risk trade ofcourse.

But :
How to tackle the Gap?


As per OOPS long would be above yesterday low+ !

 

[anup]

Seems a correct observation as per levels.
Long above 5969.15+filter and SL at 5964.25 less filter.. an excellent low risk trade ofcourse.

But :
How to tackle the Gap?


As per OOPS long would be above yesterday low+ !

Thanks for your quick reply...

First of all what should be our filter(can we take 10 points??).. and also if 5969.15+10 points is breached today and we are in Long trade...Shall we have to close the trade today itself or can carry the long for tomorrow

 

[rkkarnani]

Thanks for your quick reply...

First of all what should be our filter(can we take 10 points??).. and also if 5969.15+10 points is breached today and we are in Long trade...Shall we have to close the trade today itself or can carry the long for tomorrow

Just see what happened today :

Nifty Futures : Previous 20 days low was at 5969.15 , today mkt opened at 5969.80 went down to 5964.25 and closed at 5973.25 after doing a high of 5976.90 and all this happened in the first 5 minutes bar !

Thereafter it went upto 5986.35 and went down to 5965.60

No views on filter, but 10 seems too big if we are to exit the same day.

TS or TS+1 have not been advised as Day trading set up but from the very start when SKS first initiated discussions we are much inclined to exit intraday.
As per what I read about this set up, this was to take advantage of a failed breakout/breakdown, and hence should be done as positional as per original rules.
But if we get decent profits intraday.... why not!! so be it !

 

[anup]

@RK: Ok sir... we will reduce the filter to 5 points 5969+5=5974.. Will go long and hold for few session, the SL is not so big, can take risk...

 

[rkkarnani]

@RK: Ok sir... we will reduce the filter to 5 points 5969+5=5974.. Will go long and hold for few session, the SL is not so big, can take risk...

anup, SL is not big till the mkt closes today ! How to handle it for tomorrows opening ???

 

[anup]

anup, SL is not big till the mkt closes today ! How to handle it for tomorrows opening ???

Hmm.. good question but no answer..Tomorrow market may open up or down..Cant solve your scenarion..