Bank Nifty Swing

#1
Hello

Starting this thread to log my swing trades on Bank Nifty Futures.

I take these trades mostly looking at the Daily charts. May look at the intraday chart to fine tune entry.

Usually carry a position either long or short but it is not strictly a (SAR) Stop and Reverse method / system. I do not follow any mechanical rules for SAR,

I am trying to trade rallies and declines on BNF Daily charts based on my personal judgement / reading of the chart.

Previous few trades are

1. Long @ 11170 on 9th April
2. Short 11075 on 9th April
3. Long @ 11150 on 10th April

The current trade is long initiated near closing time on 10th of April, and for now the reversal or short trade will be below today's Low.

Possible scale-out points can be 11490 / 11440.


Cheers
::thumb::
 
#2
Hello

The follow through on this rally is quite surprising. Usually in a downtrend the declines are bigger than the rallies but this rally on BNF continues to go a long way up.






BNF DAILY CHART




For me the change in trend will be confirmed only after the price prints a higher Swing Pivot Low.

As it is i do not trade the trend as such i align my trades with the rallies and declines and use the background trend mostly for sizing and scale-ins.


Cheers
::thumb::
 
#3
Hello

Great day for longs. It was very very tempting to book profit, mind presents us with zillions of reasons for e.g. 5 white crows :lol:

The golden question is do i carry everything or scale-out some . . .

My thinking is that it would be better to carry, but still scaling out 50%.


Cheers
::thumb::
 
#4
The golden question is do i carry everything or scale-out some . . .

My thinking is that it would be better to carry, but still scaling out 50%.
Hello

Booking the balance 50% @ 12025, yesterday there was no reason to book except that the mind was freaking out because the price has already rallied for straight 5 sessions.

Once again experiencing that it is never profitable to get the mind involved into trading decisions :rofl:

Anyway, the trade was v profitable so no regrets.

Cheers
::thumb::
 
#5
Hello

No position for now, will decide if a short trade can be initiated around close today.

May take a short entry if near close the daily candle looks like the torch held by the Lady (Statue of Liberty) :)

Cheers
::thumb::
 
#8
Hello

Another day of surprising up-move (seventh in a row) :)

Simple rules save us from taking trades in anticipation of a reversal like do not Short a candle that is making a higher high (i.e. Rallying) or Long one that is making a lower low

On the other hand took the long with 1/2 position due to this feeling that price is somehow topping.

How many times we need to learn the same lesson again and again :)

Anyway will square off this before close, don't want to carry anything during the long weekend, on a week that gave v good gains.




No matter what the Trend is Always Right


Cheers
::thumb::
 
Last edited:

Similar threads