Comfortable profits from trading Nifty.

[gmt900]

Re: Amateurish.

It is admirable that you are learning something new.... kudos. :thumb:

The headers are right. Pls make the sheet... with the next 315 signal we will take a trade but in options... not in futures... it is too early to take on naked positions...

Thanks! we will go step by step. Why options ? is it because the risk is less ?
I will make the excel sheet and be ready to take a trade.

 

[jamit_05]

Re: Amateurish.

Thanks! we will go step by step. Why options ? is it because the risk is less ?
I will make the excel sheet and be ready to take a trade.

To take more or less of risk is always in our hands. As you will realize in due course, that in trading this is the only thing we can control. So we must focus on it with utmost sincerity.

Why options and not futures?

Futures would be a lot more demanding on your nerves, psyche and of your experience. For starters, one is required to get out as soon as Stop Loss is hit... no ifs no buts. But in the beginning one can hesitate and the consequences will be dire. Whereas in options it is less detrimental.

Quite simply, in one Futures lot you will be exposing about 2.5L. Whereas in options only Rs.5000.

 

[gmt900]

Re: Amateurish.

To take more or less of risk is always in our hands. As you will realize in due course, that in trading this is the only thing we can control. So we must focus on it with utmost sincerity.

Why options and not futures?

Futures would be a lot more demanding on your nerves, psyche and of your experience. For starters, one is required to get out as soon as Stop Loss is hit... no ifs no buts. But in the beginning one can hesitate and the consequences will be dire. Whereas in options it is less detrimental.

Quite simply, in one Futures lot you will be exposing about 2.5L. Whereas in options only Rs.5000.

Thanks! I have realised that this is a game of nerves and I appreciate the way you are asking me to proceed cautiously. My goal is to trade profitably and never loose. Of course, there could be losses which are a part of the game but over a period there should always be profit. I intend increasing the size of corpus and consequently of the positons after attaining certain amount of proficiency

 

[jamit_05]

Re: Amateurish.

Thanks! I have realised that this is a game of nerves and I appreciate the way you are asking me to proceed cautiously. My goal is to trade profitably and never loose. Of course, there could be losses which are a part of the game but over a period there should always be profit. I intend increasing the size of corpus and consequently of the positons after attaining certain amount of proficiency

It is a very sensible stance. You have two things at your advantage:

1) Age (and maturity).

2) Knowledge from Reading

Both, I think, are a prerequisite.

Now, as we take new steps (haven't seen the excel sheet, pls post it) we will discuss what the state of mind should be.

I think you could go long near 5954. As per 315 entry after touching ema 15.

We will use ONLY Rs.4000; Of which Rs.2000 will be the risk amount.

if 5954 on Futures is traded not touch and go. Buy Jan 6100 CE... it is near 60 now... so you will buy how many lots of it?

 

[jamit_05]

About the state of mind.

There should be minimum or no internal conflict during execution. Emotional pond should be passive with no ripples.

The ideal state is of enthusiasm. There is eagerness to

1) take the SL because I know it protects my capital.

2) Take the entry, because I know that it is designed to give me an edge. The trend is in my favor. And one of these entries will end up in a delicious profit... and it could be this.

3) Take the profit, because I see it as my payment. My remuneration for all the work I have put in. I mean, who would not be enthused to get a salary check...


So, where is the hang up?


There may be some residual/habitual shakiness, but it is way too small to get in the way. Just a like a squeeze of lime.

One should strive to attain this mental balance. Trading methods are dime a dozen.

 

[gmt900]

Re: Amateurish.

It is a very sensible stance. You have two things at your advantage:

1) Age (and maturity).

2) Knowledge from Reading

Both, I think, are a prerequisite.

Now, as we take new steps (haven't seen the excel sheet, pls post it) we will discuss what the state of mind should be.

I think you could go long near 5954. As per 315 entry after touching ema 15.

We will use ONLY Rs.4000; Of which Rs.2000 will be the risk amount.

if 5954 on Futures is traded not touch and go. Buy Jan 6100 CE... it is near 60 now... so you will buy how many lots of it?

As I said I am not very savy with the computers. I tried to attach the file but got a message "invalid file NIFTY.xls". Idon't know how to attach file with xls extension?
Sorry to bother with such basic issues.

 

[jamit_05]

Re: Amateurish.

As I said I am not very savy with the computers. I tried to attach the file but got a message "invalid file NIFTY.xls". Idon't know how to attach file with xls extension?
Sorry to bother with such basic issues.

fair enough, as long as you have made it.

Now, about taking the entry at 5954. Although you know that the stop loss could be hit do you 100% want to take the entry? Resolve any doubts.

 

[gmt900]

Re: Amateurish.

It is a very sensible stance. You have two things at your advantage:

1) Age (and maturity).

2) Knowledge from Reading

Both, I think, are a prerequisite.

Now, as we take new steps (haven't seen the excel sheet, pls post it) we will discuss what the state of mind should be.

I think you could go long near 5954. As per 315 entry after touching ema 15.

We will use ONLY Rs.4000; Of which Rs.2000 will be the risk amount.
if 5954 on Futures is traded not touch and go. Buy Jan 6100 CE... it is near 60 now... so you will buy how many lots of it?

Can I buy two lots @ 58 which will mean 5800 instead of 4000. Or should I restrict to one lot for 3000? And when should I enter? I have not followed the EMA 15 part

 

[gmt900]

Re: Amateurish.

fair enough, as long as you have made it.

Now, about taking the entry at 5954. Although you know that the stop loss could be hit do you 100% want to take the entry? Resolve any doubts.

Will the stop loss be 20 points?
If yes, it is bound to get triggered and I would not like to take the trade

 

[PartTime_Trader]

Trading methods are dime a dozen.

That's funny :lol: