One more diary - Trading BNF

[PartTime_Trader]

Hi

I am once again starting a new thread and I will try to post my BNF trades on this thread. I trade Nifty Futures, Bank nifty Futures and Nifty Options, but do not post my trades regularly.

I do not use any mechanical system for trading BNF. I try to use simple logic for taking these trades. i try to decide the current trend on BNF and then take position in the direction of the current trend.

I use only one chart for trading and may switch between 5/10/15 minutes time frames to decide the current trend. I use simple MAs of high and low with length 20 to help me decide the trend. There are no mathematical rules to decide the trend, i do that by looking at the charts and go by what i feel about it, in short its my personal call to judge what is the current trend.

I feel our job as a traders is to keep improving this skill or judgement of understanding the current trend.

Thanks

 

[PartTime_Trader]

The current Trend on BNF is Down and as per me it started yesterday around 1:30 PM

So only short trades for now . . .

 

[augubhai]

I feel our job as a traders is to keep improving this skill or judgement of understanding the current trend.

:clapping:
and S&R also, i think

 

[PartTime_Trader]

3 trades so far

first short trade on opening bar, scratch trade (kept holding and let the price come back all the way even after in favor for 30/40 points)

short 2 @ 10410, cover @ xx370

short 3 @ 10385, cover now, for almost a scratch

over all minus cost about +20 points till now

 

[PartTime_Trader]

:clapping:
and S&R also, i think

Yes Support / Resistance areas and also volume

With S/R i think it is more important to note the way price is behaving around s/r values for e.g. today price took support at xx390 which will be one of the many s/r lines, ideally i should have covered my first short after the bounce from xx390 and not keep holding till it came back all the way back up near entry.

 

[PartTime_Trader]

If BNF trades above xx390 for a while i will consider it getting into sideways zone . . .

Above xx425, i will consider it as long mode

 

[PartTime_Trader]

BNF Trend continues to be short

Intraday short below first bar of the day


on downside support zone 10260-10280

 

[PartTime_Trader]

BNF Trend continues to be short

Intraday short below first bar of the day


on downside support zone 10260-10280

Nice Trade, covered all intraday short position xx260,

now carrying only positional short with a tight SL @ xx320

 

[PartTime_Trader]

Short Trend continues on BNF

Holding positional short trade and intraday short from first bar . . .

Surprised with this trendiness from BNF . . . but its good when it lasts