trading futures on technical analysis with toocool

[jamit_05]

i am still long , booked half at very low price but still holding 50% of price @5924

i am confused about the above pattern , i think its very very bullish , can anyone having knowledge of this particular pattern confirm?

its a downward channel which broken on upside then price came inside and now again gone outside

What I discern is that if todays low gets taken out in the subsequent trading sessions... then the Trend Line gets further established. This would have very, very, bearish consequences.

As long as todays low is maintained we can all continue life normally.

See the breakout of 19th sept. It was completely thrashed the next day... and the market collapsed... breaking the strong daily support of 5800 which was 275 points away... without damaging a single HOD.... but the complete fall was cut short by US shut down (it is a huge news.. happened after 17 years... nothing short of it could save the fall).

Same story is being unfolded currently... lets see what happens.

 

[toocool]

So I am still long on 50% qty taken @5924, no changes in that. Had also booked 50% for 50 points.

The trend remains up though the momentum is slow but that's no issue, in an uptrend we cannot be short at all, I should have added to the longs today when markets fell but couldn't, but that's okay, I am still winning, no real signs of any reversals at this point, news does not drive the markets, no need to even follow the news at all, it will only confuse and eat the profit if we tried to make sense of the news :thumbup:

 

[toocool]

I do not yet keep a log of my trades, I am trading with Zerodha, what statement do I have to take to analyse my trades?

Infact I would like to get an objective point of view to get an understanding of how am I performing

Whose gonna rate my performance? And what statement is needed from Zerodha?

 

[toocool]

 

[appajib]

Shall we expect gap up at heavily tomorrow ? what is the reason for this..

 

[toocool]

Shall we expect gap up at heavily tomorrow ? what is the reason for this..

i think its reasonable to expect a gapup , due to indications of sgx nifty , however its not guaranteed

the reason the way i see it is , that , markets are in continuous motion , means whether the markets are open or closed for the day , the prices however are in perpetual motion , but since after closing the market we cannot know about what will market opening be tomorrow , flat , positive, negative and upto what extent . so all i can say is because tomorrow is not a holiday and markets will open , so its reasonable to assume that market will trade at a price , whatever that opening price be . only changes in last few years has been introduction of sgx nifty in Singapore , which upto a certain extent gives some indication , might or might not hold ,that is .

some people are saying that america is up and world markets are bullish thats why we may open gapup tomorrow.

but if you have asked me , all i believe is what i wrote above , and i am damn serious , i do not believe that news drives the markets , and have sufficient proof of this

 

[toocool]

Brokerage :
Service Tax :
1680.00
424.15
SEBI Charges : 39.37
Turnover Charges : 1751.40
Securities Transactions Tax : 1916.00
Stamp Charges : 1486.09
Net Payable :
Net Receivable : 153990.00


this profit and loss statement is from 25th july 2013 to till date , i have been trading for 5 years now ,exactly started in october 2008 , since i didnt make really anything in last 4.5 years or so there was no need for me to keep track of my previous trades , it used to depress me as well , so i never really kept log of them ,i just had to do it(success in trading) even now i do not keep logs , probably will start soon .the receivable of 1.5 lacs is profit form 25 july till date .there is more from april 2013 some 50k+ but thats irrelevant , this is longest winning streak from 25th july i have ever had , i never used to be able to keep profits before this ever.

thing to note is that i was a looser for a whole 4.5+ years , so i was trading very very light , you trade light when you learn and do mistakes so that you dont just vanish from the market. i will wait for time till i feel comfortable to trade with more lots .

now based on the data i gave,which is all i have right now , i need an honest objective review of , my performance , i dont want sugar coated review please

regards

 

[toocool]

 

[jamit_05]

This result is from how many trades.

We just have to make sure that this profit is not from a couple of big trades.

 

[toocool]

cant say exactly , i dont have my own logs , and i couldnt find anything in zerodha backoffice , how to find number of trades