A system to earn 5 pts in NF...just 5 pts
- Thread starter Boona
- Start date
I feel one should have a lion heart to trade Nifty for 5 points.
Hope you have watched the real time quotes on live trading terminal.
The wilderness with which the nifty moves is not catchable (right word?).
The time we take to enter the trade is far....far....far....more than the time nifty takes to give a flip of 15-20 points.
I really wonder how can it be traded for 5 points with 2-3 stop loss.:sos:
Hope you have watched the real time quotes on live trading terminal.
The wilderness with which the nifty moves is not catchable (right word?).
The time we take to enter the trade is far....far....far....more than the time nifty takes to give a flip of 15-20 points.
I really wonder how can it be traded for 5 points with 2-3 stop loss.:sos:
it is not looking absurd to us as while starting out intially we all must have thought like this , (at least i did )
trade 10 nifty lots for 5 points , if 2 point is set aside for brokerage and taxes then you are getting 3 points per trade per lot .
so 30 points per trade , do it 5 times and you are getting 150 points per day ,
on theory it all looks good and fine , but in practical if you see the wild movements with which nifty moves ,
first you have to get 10 lots instantly at your desired price ,
then you succed in putting stoploss of two three points ,
while hitting the stoploss for 10 lots , there will be slippages also.
it is doable once , twice or thrice but not all the time.
but they say nothing is impossible , so what the hell , try it ,
and if you really want to give it a go ,
then try it with 1 lot as market is not going anywhere
add 1 lot every next or second week or even next month , after evaluting your monthly performance,
see what happens.
all the best :thumb:
trade 10 nifty lots for 5 points , if 2 point is set aside for brokerage and taxes then you are getting 3 points per trade per lot .
so 30 points per trade , do it 5 times and you are getting 150 points per day ,
on theory it all looks good and fine , but in practical if you see the wild movements with which nifty moves ,
first you have to get 10 lots instantly at your desired price ,
then you succed in putting stoploss of two three points ,
while hitting the stoploss for 10 lots , there will be slippages also.
it is doable once , twice or thrice but not all the time.
but they say nothing is impossible , so what the hell , try it ,
and if you really want to give it a go ,
then try it with 1 lot as market is not going anywhere
add 1 lot every next or second week or even next month , after evaluting your monthly performance,
see what happens.
all the best :thumb:
Last edited:
yeah iam going to give it a try with minimum lots, may be couple of minis.
What iam looking forward thru this thread, is some system where i can achieve this small target consistently, from those who play that way.
Let me wait for someone who trade like this and willing to share it with me as well all of us here !
What iam looking forward thru this thread, is some system where i can achieve this small target consistently, from those who play that way.
Let me wait for someone who trade like this and willing to share it with me as well all of us here !
Boona, In my view, this style of trading can be classified as Scalping.
As far as I know, it might make sense only when u have very low brokerage, and have very high ability to concentrate on bars and collect quick profit. Scalpers are quick and agile (mentally as well as with their order placement). else this style will feed only broker.
At the end it is matter of considering whether effort is worth the reward. For some person, 1000 rs of reward for 6.5 hrs of mkt timing + atleast 2 hrs of post market work is sufficient and others need 1000 rs of return in 15 mins of work a day.
Personally I don't do scalping so have very limited idea about this and do not know systems that will help u (in my view, indicators are too late for such style). Just sharing my views on it.
My suggestion will be don't focus on 5 pts or 15 pts or 50 pts per day. Instead look at developing a system that is overall profitable using timeframe like 5 min or so.
Be with the trend as long as you can.. (why to fold our bag when market is kind on us and giving us profit).. limit the losses as per your risk appetite and account constraints.
And instead of measuring the performance on daily basis, measure it on weekly basis.
Trading tests your patience and trading for 5 points shows to me that u don't have enough patience (I might be wrong). So even if u are able to collect 5 points with you system, u will not be able to big returns from trading..rather u will burn yourself out with stress.
Hope this helps.
As far as I know, it might make sense only when u have very low brokerage, and have very high ability to concentrate on bars and collect quick profit. Scalpers are quick and agile (mentally as well as with their order placement). else this style will feed only broker.
At the end it is matter of considering whether effort is worth the reward. For some person, 1000 rs of reward for 6.5 hrs of mkt timing + atleast 2 hrs of post market work is sufficient and others need 1000 rs of return in 15 mins of work a day.
Personally I don't do scalping so have very limited idea about this and do not know systems that will help u (in my view, indicators are too late for such style). Just sharing my views on it.
My suggestion will be don't focus on 5 pts or 15 pts or 50 pts per day. Instead look at developing a system that is overall profitable using timeframe like 5 min or so.
Be with the trend as long as you can.. (why to fold our bag when market is kind on us and giving us profit).. limit the losses as per your risk appetite and account constraints.
And instead of measuring the performance on daily basis, measure it on weekly basis.
Trading tests your patience and trading for 5 points shows to me that u don't have enough patience (I might be wrong). So even if u are able to collect 5 points with you system, u will not be able to big returns from trading..rather u will burn yourself out with stress.
Hope this helps.
I used to scalp for 6.5 points. Its not tough but ability to read order flow and ability to exit before the SL is hit is very essential.
Time frame is 1 min or 3R. Setup is plot 21 ema of RSI-5. Lets call it A1 line. we then plot a BB(5,0.5) of this A1 line. Then ema 13 of this line as the mid term direction and ema-39 of this line as the long term direction. For confirmation use ADI (both PDI and MDI). Trendline on PDI and MDI is ur entry trigger. like wise A1 has to come out of its BB. Direction should be supported by both ema-13 and ema39. dont even look at price. U dont need it on ur chart. 10 sec before bar close is ur entry.
Result will be very erratic during the first few months. Some days u end with 50-60 points. and other u end with 20-25 point loss.
my advise, getting 2 points on NF is tough if u are not sure of what u are doing. Concentrate on getting the direction right. That's all that matters. If the trend is up dont attempt a counter trend trade. If the trend is sideways, dont attempt a break out, instead sell the top and buy the bottom.
ST-da says that we should be able to ride the trend. Even if 1 trade out of 5 is a rider, that alone can give u sufficient profit if the SL on the other 4 was tight. He is perfectly right. My results improved a lot after i applied that advise from him.
But somehow, i feel if u want to survive this market, then treat it like a jungle. You are the small mouse that everyone loves to eat. A heroic mouse has a very short life span. Protect your capital at all cost. You are going to watch the same chart for the rest of you trading life. Your chart should speak to you. Till the time you are not able to react instantaneously to your chart, stick to 1 lot of mini NF. End of the day, make a note of all the trade you took and why. Dont go by the result. If a trade gave u a loss, but u executed it perfectly, then its a success. If a trade gave u profit, but u failed to exit when you should have and luck played a hand, then that trade is a failure.
Self analysis is the only way you can prevent yourself from making the same mistake again and again. Its the only way i know of getting rid of emotions.
Time frame is 1 min or 3R. Setup is plot 21 ema of RSI-5. Lets call it A1 line. we then plot a BB(5,0.5) of this A1 line. Then ema 13 of this line as the mid term direction and ema-39 of this line as the long term direction. For confirmation use ADI (both PDI and MDI). Trendline on PDI and MDI is ur entry trigger. like wise A1 has to come out of its BB. Direction should be supported by both ema-13 and ema39. dont even look at price. U dont need it on ur chart. 10 sec before bar close is ur entry.
Result will be very erratic during the first few months. Some days u end with 50-60 points. and other u end with 20-25 point loss.
my advise, getting 2 points on NF is tough if u are not sure of what u are doing. Concentrate on getting the direction right. That's all that matters. If the trend is up dont attempt a counter trend trade. If the trend is sideways, dont attempt a break out, instead sell the top and buy the bottom.
ST-da says that we should be able to ride the trend. Even if 1 trade out of 5 is a rider, that alone can give u sufficient profit if the SL on the other 4 was tight. He is perfectly right. My results improved a lot after i applied that advise from him.
But somehow, i feel if u want to survive this market, then treat it like a jungle. You are the small mouse that everyone loves to eat. A heroic mouse has a very short life span. Protect your capital at all cost. You are going to watch the same chart for the rest of you trading life. Your chart should speak to you. Till the time you are not able to react instantaneously to your chart, stick to 1 lot of mini NF. End of the day, make a note of all the trade you took and why. Dont go by the result. If a trade gave u a loss, but u executed it perfectly, then its a success. If a trade gave u profit, but u failed to exit when you should have and luck played a hand, then that trade is a failure.
Self analysis is the only way you can prevent yourself from making the same mistake again and again. Its the only way i know of getting rid of emotions.
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