Nifty Futures Positional Trading

jamit_05

Well-Known Member
#2
Currently have positions taken at 5774.05

If today does not make a close above SPOT 5970 then I will take profit on 50% at least. Simply because, I think this move is likely to reverse. Decisive move will come only after RBI, before that big pockets are trying to scare away the option straddlers. :)
 

jamit_05

Well-Known Member
#3
SOLD half position at 5944, since the trend did not continue but broker by giving a deep correction, otherwise I would not have booked.

Total gain: 5944-5774 = 170 pts.

Half position still remaining. Was contemplating selling APR 5900 CEs at 145... but hesitated. Lets see tomorrow.
 

jamit_05

Well-Known Member
#6
Long Trade.

Entry: 5915.80
SL : 5905.15
Risk : 11 pts.
Exit : 5950.00
RR : 3x

Will have to track momentum, since this is not a pure setup. Yet this entry is sought, because exceptional amount of volume is trading today: 6x The average.
 
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jamit_05

Well-Known Member
#7
Long Trade.

Entry: 5915.80
SL : 5905.15
Risk : 11 pts.
Exit : 5950.00
RR : 3x

Will have to track momentum, since this is not a pure setup. Yet this entry is sought, because exceptional amount of volume is trading today: 6x The average.
Got out at breakeven... I expect to see good momentum. That didn't happen. Prices stalled at an intraday resistance much before the Red Line. I'd hv traded it more confidently if it were a pure trade.
 

jamit_05

Well-Known Member
#9
Some Big Individual Traders have a belief that Always Be "Bullish"

It seemed strange to me at first. But, it kinda makes sense cuz the price tends to spend more time being Bullish than Bearish, this happens for two reasons that I can understand:

1) In Bearish trends, the good part of the move is quick. Much Quicker than Bullish trends. In other words price spends a lot more "TIME" being bullish.

2) Market has thus far, in almost 25 years, always made newer highs. And never newer lows. So prices has, as yet, travelled more distance upwards.

The dynamics of Bearish and Bullish trends are very different; their ways of making tops and bottoms. Having a one track mind, helps the dedicated trader to completely get absorbed and become one with the dynamics of Bulls. His eye gets used to "seeing" the entries and exits. This is a significant edge for a professional. Its specialization, just like in any other field.

In fact, the ones who take bearish trades are kinda looked upon differently and are called names ("mandodia", "satodia"). Taking bearish is amateurish in their eyes. Some older blokes say that they have NEVER seen a single trader who takes on bearish trades survive one complete cycle. Plus, Bears are their arch enemies. Its like India and Pakistan for them !!

It makes sense for even a new trader since it gives him twice as much time to survive and hence learn. :)

Interesting culture eh!
 
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