BNF ! Seeking help for Intraday T1 and T2

Discussion in 'Futures' started by umeshmandal, Nov 5, 2013.

  1. umeshmandal

    umeshmandal Well-Known Member

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    Hi Friends, I have been trading BNF successfully by Tukka Style trading..... not fully tukka, taking assistance with Intraday chart of 15 minutes, 5 min. and 30 min.
    15 min. chart is the main on the basis of which I trade. Something like triple screen trading but not really ! As I have access to Live NEAT terminal I also consider overall Market direction in my Trades.
    A senior member here gave a few pointers for Entry and Stop Loss which really helped.
    My problem is Targets ! Where to exit? After what move should I move SL to cost?
    I wish to trade 4 lots of BNF. (At present trading 2 lots) !
    Would prefer to exit 1 lot at 44 points ! Why 44 ! has no answer from me... I found this figure to be achieved very often in intraday !
    Exit Lot2 at 95/100 , Exit Lot3 at 190/200 and carry Lot 4 till reversed !

    These are all arbitarary targets decide by me... seeking advise on these ! Are these okay or need tweeking or major changes? What do you suggest?

    Historical analysis in this case was not possible as the trades are more of discretionary type !

    I was paper trading since July and till October end total Profits were on an average 1180 points per month per lot ! Expenses and slippage not applied. There were avg 5 trades daily.
    I actual trading from 17th Oct till today have gained 2187 points Net in trading 2 lots ! (Approx 1100 per lot) ! There were trades where a Position in 65 points profit ended in 30 points Loss ! So to minimise such situations I need to fine tune my Targets and also application of TSL !

    Please do post your suggestions.... even the most crazy ones are welcome !
    :D
     
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  2. jahan

    jahan Well-Known Member

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    Hello,

    if ur wishing....exiting partly, in the long run it didn't gonna work....its look good when we analyze...its my personal experience.....u said that ur trading is based on discretionary decisions....so ur exit will make u sometimes fearful(fear of giving back).....see if u exit partly..at T1..T2 ...T3...what happens is...when there is more profit potential ur cutting it down by exiting partly....and when come to taking loss ur taking on ur full position(whatever ur stoploss is..example with ur 4lots). so for me it doesn't make sense...i know lot of members here didn't agree with me....as this type of exit will make them comfortable and this type of exit is having little attachment of always right bias.
    i also suggested same thing here to another member(i don't remember his id)...but now he is no more active/posting anything here he did't apply what i said....see iam also not forcing u to use other exit techniques......

    but one thing is sure that ur on right path looking for proper exit method which suits u...as i don't give enough weightage to entry for me its always 50-50 probability... exits are very important than entry as it will tell whether the trade is ended in profit or loss.

    regards,
     
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  3. umeshmandal

    umeshmandal Well-Known Member

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    Jahan Bhai, What you have written is factually correct. I have seen in my analysis for other strategies that partial Exits work adversely for Profits in the long run.

    However there is another aspect that I consider : Comfort zone ! My personal opinion, if I am able to book some profit in a trade 'most' of the time then carrying it to next target is easy. I found during my initial Paper trades that BNF on an average did a Target of ~48 points in 90+% trades hence decided to exit partly at 44 points ! With these 44 points in pocket I feel comfortable to carry my trade to next tgt of 95 points otherwise was in a constant state of confusion for exit !
    What you have written is logical and hope to use a single exit after a few months, hopefully of Profits when I will have some profits in pocket to make my trades with higher target comfortable. Thanks for your input !
     
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  4. gkpc

    gkpc Well-Known Member

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    Umesh, I agree with Jahan Bhai ! In the long tenure exiting Partially make you less profitable.

    My suggestion : If in 90% cases you seem to hit 44 points, why not exit all qty at 44 and be satisfied. And in your language :as profit in your pocket grows, increase the quantity traded to enhance profits !

    But all said, I also agree that its also important to remain comfortable in your trades. So take everybody's suggestions but implement what suits your mentality.
     
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  5. umeshmandal

    umeshmandal Well-Known Member

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    gkpc, Its working fine as you said. Am making hay as sun is shining very brightly ! God is kind , very kind ! With some more discipline, I hope t do even better !
    Thanks buddy for the pointers.
    Thanks Jahan Bhai for your guiding Post !
     
  6. umeshmandal

    umeshmandal Well-Known Member

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    I find that TraderRavi and Vjay has visited this thread ! Shall request them to pen in their views about my above request !
    My BNF trades are in this thread :
    http://www.traderji.com/futures/90612-bnf-intraday-levels-based-15-min-chart.html
     

  7. Xitij

    Xitij Active Member

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    Could not send you and Rajgreenpeace a PM ! Hence posting here and in your other thread. Its not Spam , just an effort to bring it to your and Raj ji's attention.

     
  8. sdpriyadarshan

    sdpriyadarshan New Member

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    Sir pls help how to do tukka style trading .....which link i need to refer
     
  9. umeshmandal

    umeshmandal Well-Known Member

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  10. sdpriyadarshan

    sdpriyadarshan New Member

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    Thank you bro... i ll refer
     
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