Trading Strategies Using Technical Analysis

[DiwaliCrackers]

Dear Raunak Sir and All Other Members,


First of all i want to say thanks for this great forum and sorry for this bigger one post.

I am new to this forum, i have some problem but not regarding trade but regarding psychological...please try to look into that...

Whenever i trade and if my trade is going good...then after very few profit I'll book and exit like today i entered in BHARTIAIRTEL @ 343 and Booked Profit @ 345 so my Total Profit is only 2000 but according to market i could earn 6000+, but due to fear i exit.
But at losing trade I'll always have some hope that market will recover like in TVSMotor i entered some few days back, and i was in loss so after 15k loss i took exit position.so i think that i have problem with attitude rather then Tech/Funda. analysis.
so i am hoping for some suggestion regarding to that.

and one more thing how to place stop loss in Futures/Options trading?

Thanks

 

[MurAtt]

DW

Trail your profits by a SL.
Same with the Losses.

If you remember .. I was long 2700CE@94. I exited at 30. Why bcoz of SL of 19300 Sensex closing below on EOD basis. That was my SL and I exited.

Yesterday I re-entered the same call at 42. Why? Bcoz I saw a green trade on that. Now I will have a SL which when violated I will exit the trade.

SLs can be of various types like fixed price, percentages, pivots etc. Choose the one with which you are comfortable.

Also do not try to see what you 'could' have made had u held on. You got something. Now next trade .. simple.

On the same lines ... I had 1xNIFTY5800PE@108 y'day and also bot SBI1x2600PE@81.
When markets tanked I squared off at 161 (rather 146 as by the time I placed order the price moved --- fast) I squared off my SBI PE too and got into RIL and Nifty Calls. 5800x2 lots and switched SBI PE to CE since SBI did not participate much in the fall and the bottom bollinger on the spot had been pierced with the red candle a day before.

I exited my Nifty calls at 105. Why? Too much long ... Nifty, SBI, RIL. If the market tanked next day or opened gap down then? At that moment .. in front of the screen with 3 minutes remaining .. no charts can be read ... I exited. 2 Long calls are enuf.

So MM here with Risk taking capacity.

So overall ... whenever u r comfortable with the trade .. keep riding it else cut the trade and look for another one.

And the main one .. not necessary to trade everyday ... take some days off in a month to reconcile what and how u r doing it. Even from biz ppl take holidays to clear mind.

Sorry for the rant .. BUT you asked for it and Raunak bro .. I know u will not mind BUT had to put in a long rant .. been a long time since I posted something here and boasted of some of my trades

Cheers ....

 

[JackPotter]

and one more thing how to place stop loss in Futures/Options trading?

You've to confirm it with your broker. My terminal allows to place stop-loss & target price for FnO in similar way I do for equities.

 

[DiwaliCrackers]

Thanks a lot SM sir for QuickResponse...

DW

Trail your profits by a SL.
Same with the Losses.

If you remember .. I was long 2700CE@94. I exited at 30. Why bcoz of SL of 19300 Sensex closing below on EOD basis. That was my SL and I exited.

Yesterday I re-entered the same call at 42. Why? Bcoz I saw a green trade on that. Now I will have a SL which when violated I will exit the trade.

SLs can be of various types like fixed price, percentages, pivots etc. Choose the one with which you are comfortable.

Also do not try to see what you 'could' have made had u held on. You got something. Now next trade .. simple.

On the same lines ... I had 1xNIFTY5800PE@108 y'day and also bot SBI1x2600PE@81.
When markets tanked I squared off at 161 (rather 146 as by the time I placed order the price moved --- fast) I squared off my SBI PE too and got into RIL and Nifty Calls. 5800x2 lots and switched SBI PE to CE since SBI did not participate much in the fall and the bottom bollinger on the spot had been pierced with the red candle a day before.

I exited my Nifty calls at 105. Why? Too much long ... Nifty, SBI, RIL. If the market tanked next day or opened gap down then? At that moment .. in front of the screen with 3 minutes remaining .. no charts can be read ... I exited. 2 Long calls are enuf.

So MM here with Risk taking capacity.

So overall ... whenever u r comfortable with the trade .. keep riding it else cut the trade and look for another one.

And the main one .. not necessary to trade everyday ... take some days off in a month to reconcile what and how u r doing it. Even from biz ppl take holidays to clear mind.

Sorry for the rant .. BUT you asked for it and Raunak bro .. I know u will not mind BUT had to put in a long rant .. been a long time since I posted something here and boasted of some of my trades

Cheers ....

 

[SwingKing]

RB thanks, today made a killing!!!! Your advice worked brilliantly. 5 winning trades today!!!

You are always welcome Nimish.

Will reply to your PM in sometime.

Tc

 

[SwingKing]

Dear Raunak Sir and All Other Members,


First of all i want to say thanks for this great forum and sorry for this bigger one post.

I am new to this forum, i have some problem but not regarding trade but regarding psychological...please try to look into that...

Whenever i trade and if my trade is going good...then after very few profit I'll book and exit like today i entered in BHARTIAIRTEL @ 343 and Booked Profit @ 345 so my Total Profit is only 2000 but according to market i could earn 6000+, but due to fear i exit.
But at losing trade I'll always have some hope that market will recover like in TVSMotor i entered some few days back, and i was in loss so after 15k loss i took exit position.so i think that i have problem with attitude rather then Tech/Funda. analysis.
so i am hoping for some suggestion regarding to that.

and one more thing how to place stop loss in Futures/Options trading?

Thanks

DC,

SM has probably given you the best piece of advise.

Apart from this I will ask you to read one of the post by me on this thread regarding art of getting in and getting out in trades. Go to the first page and check the index. You will find it easily.

Tc

 

[prst]

DW

Trail your profits by a SL.
Same with the Losses.

If you remember .. I was long 2700CE@94. I exited at 30. Why bcoz of SL of 19300 Sensex closing below on EOD basis. That was my SL and I exited.

Yesterday I re-entered the same call at 42. Why? Bcoz I saw a green trade on that. Now I will have a SL which when violated I will exit the trade.

SLs can be of various types like fixed price, percentages, pivots etc. Choose the one with which you are comfortable.

Also do not try to see what you 'could' have made had u held on. You got something. Now next trade .. simple.

On the same lines ... I had 1xNIFTY5800PE@108 y'day and also bot SBI1x2600PE@81.
When markets tanked I squared off at 161 (rather 146 as by the time I placed order the price moved --- fast) I squared off my SBI PE too and got into RIL and Nifty Calls. 5800x2 lots and switched SBI PE to CE since SBI did not participate much in the fall and the bottom bollinger on the spot had been pierced with the red candle a day before.

I exited my Nifty calls at 105. Why? Too much long ... Nifty, SBI, RIL. If the market tanked next day or opened gap down then? At that moment .. in front of the screen with 3 minutes remaining .. no charts can be read ... I exited. 2 Long calls are enuf.

So MM here with Risk taking capacity.

So overall ... whenever u r comfortable with the trade .. keep riding it else cut the trade and look for another one.

And the main one .. not necessary to trade everyday ... take some days off in a month to reconcile what and how u r doing it. Even from biz ppl take holidays to clear mind.

Sorry for the rant .. BUT you asked for it and Raunak bro .. I know u will not mind BUT had to put in a long rant .. been a long time since I posted something here and boasted of some of my trades

Cheers ....

thanks bhai,
your rants contain much useful info , teaching us more than what the books talk about..

 

[Gang123]

Any advise on bank nifty? I am short on it

Dear Nanda,

It seems you are in a bad trade, BankNifty may go up at least for a short term, According to me BankNifty have a Resistance at 11600 levels That is above around 450 points from where it is now. You better ask Raunak Sir for further clearence.

I suggest you to go through Raunak Sirs Posts which are given links on the first page of this thread for becoming a successfull trader.

Best of luck,
Gangadharan:thumb:

 

[SwingKing]

Two levels are kind of important for Bnifty.

11590 - 11640 & 11910 - 11960

Tc

 

[SwingKing]

Raunakji,

I am short on TS Jan Fut @646 As of now I am glad that my SL at 652 didnt get hit.

Could you please let me know whats your feeling on the stock short term?

Chaitanya,

Movement of Tata Steel will depend on overall movement of market.

Nifty is swing positive at the moment, hence adhere to your stop loss.

Tc