General Trading Chat

[marimuthu13]

Its funny today various data sources have different lows on BNF
Anyone saw a 26550?

for me , in Zerotha KITE, low was 26670 - BNF

 

[cloudTrader]

Nest Trader also showing 26,110 as Open & Low.

For first 4 minutes there were ugly quotes even taking the bid and ask price to as low as 25,795

 

[Smart_trade]

Bajaj Finance seems to have set up itself for much higher prices.....it has gone above its sequential stoploss indicating that the stock is going still higher.It is scaling new highs in otherwise quiet market.

Smart_trade

 

[travi]

Bajaj Finance seems to have set up itself for much higher prices.....it has gone above its sequential stoploss indicating that the stock is going still higher.It is scaling new highs in otherwise quiet market.

Smart_trade

something churning in pnbhousing too. The entire Housing finance space seems to be on the rise again.
Finance Cos in general probably getting support from Bond yields ranging.

 

[Smart_trade]

something churning in pnbhousing too. The entire Housing finance space seems to be on the rise again.
Finance Cos in general probably getting support from Bond yields ranging.

HDFC and Kotak Bank are eyeing to acquire some stake in PNB Housing finance....both these companies are successful and astute asset allocators and PNB the parent bank is in desparate need to get money after the damage of Neerav Modi problem....so a strong financial partner is good for PNB Housing Finance company.

Smart_trade

 

[lemondew]

Nice one.


I like these statements
"we are after all humans and prone to error and emotions. I, in fact in my trading now, have taken into account two wrong trades in my calculations. So when they do come I do not feel bad about it. The idea is not to lose too much when they do appear.

I have observed from my track record earlier that if I get several losing trades I tend to take a bigger position. So now I have a checklist approach of taking a trade. If one goes through 4-5 losing trades the mind would come up with all sorts of excuses not to take the next trade. For me, the checklist helps in pressing the trigger on the next trade."

Best to keep it simple and go with the flow as you said. Deal with the downs along with the ups.

Journey of a trader who likes to keep it simple-money control

 

[vivektrader]

Bajaj Finance seems to have set up itself for much higher prices.....it has gone above its sequential stoploss indicating that the stock is going still higher.It is scaling new highs in otherwise quiet market.

Smart_trade

Sequential stoploss was hit at 2293, it's out of bounds, no idea where it will halt to give a reentry.

Vivek

 

[Smart_trade]

Nice one.


I like these statements
"we are after all humans and prone to error and emotions. I, in fact in my trading now, have taken into account two wrong trades in my calculations. So when they do come I do not feel bad about it. The idea is not to lose too much when they do appear.

I have observed from my track record earlier that if I get several losing trades I tend to take a bigger position. So now I have a checklist approach of taking a trade. If one goes through 4-5 losing trades the mind would come up with all sorts of excuses not to take the next trade. For me, the checklist helps in pressing the trigger on the next trade."

Best to keep it simple and go with the flow as you said. Deal with the downs along with the ups.

Most important takeaway from that interview is as he trades trend following methods, he trades only when the market breaksout above either previous days range or 40 days moving average and above/below the Bollinger bands. So he is waiting for breakout from the range and then taking a trade which is the right way to do for a trend following system.He gets 2-3 trades in a week and does not trade every day.

Smart_trade

 

[lemondew]

Is that the essence of high success rate. He says he has success rate of 60 and 80 for intra and swing. St da do you also have a high success rate in swing.?

I have a much lower success rate. Would love some thoughts/explanations on keeping the success rate higher.

Its also possible my system is about maturing and I do take trades which I feel might work. That may contribute to not necessarily always trading a certain set of rules.

Most important takeaway from that interview is as he trades trend following methods, he trades only when the market breaksout above either previous days range or 40 days moving average and above/below the Bollinger bands. So he is waiting for breakout from the range and then taking a trade which is the right way to do for a trend following system.He gets 2-3 trades in a week and does not trade every day.

Smart_trade

 

[Smart_trade]

Is that the essence of high success rate. He says he has success rate of 60 and 80 for intra and swing. St da do you also have a high success rate in swing.?

I have a much lower success rate. Would love some thoughts/explanations on keeping the success rate higher.

Its also possible my system is about maturing and I do take trades which I feel might work. That may contribute to not necessarily always trading a certain set of rules.

Yes,this fact I have always said that if you are trading a trend following system then trade when the market breaksout/down.....if one starts trading a trend following system in trending as well as sideways, the success rate goes down because the system chops in a sideways phase.

To recognise when the market is in trend and when it is not in trend one has to use some parameters as that trader is using.....

Smart_trade