Swing Trading - Simple Setups

[rananjay00007]

ok best of luck.......may you plese tell how you handle the gaps

 

[johnnypareek]

hi,

Is it positional?? Well, I did 2day.

johnnypareek( 3/11/11 1:35:47 PM) : NIFTY FUT -- buy 5245 tgt open

johnnypareek( 3/11/11 1:41:29 PM) : Give me cash nifty above 5236 n rest will really enjoyable

ashit_cg( 3/11/11 1:46:45 PM) : lo de diya 5236 ab kya

johnnypareek( 3/11/11 1:59:23 PM) : NIFTY fut - move SL to 5252

johnnypareek( 3/11/11 2:43:35 PM) : NIFTY FUT -- Raise SL to 5264 n lock some profit

johnnypareek( 3/11/11 2:50:03 PM) : NIFTY FUT -- Raise SL to 5279 n lock some profit CALL WAS GIVEN AT 5245

hmmm rest u can chk intraday chart.

well, I just told in other thread that will not post, but I can not resist my self.



********************************************

johnny

 

[Blitzz]

What system are using to initate trade.
Do u trade only nifty or other indexs.

Hi Vgswift

I dont trade any system.I trade some simple setups with set of rules which i need to follow strictly. These setups i have derived from observing various patterns which emerges on higher TF's ie Daily and hourly.

I trade both nifty and Stock futures. I never risk more than 5% of my portfolio value at a time so mostly i end up trading nifty becoz of MM. Stock futures i trade only when i see a very juicy trade with very tight stoploss.

Blitzz

 

[Blitzz]

ok best of luck.......may you plese tell how you handle the gaps

Gaps is one of the main thing which gives an edge to a positional trader over an intraday trader. Everyday i check my positions at 3:15 and if i think the market structure is such that my stoploss will be in danger due to a gap then i hedge my position. This is a rare case. Huge gaps against you are part and parcel of the game and your money management should be such that these kind of one of situations should not hamper you financially and emotionally

Blitzz

 

[Blitzz]

hi,

Is it positional?? Well, I did 2day.

johnnypareek( 3/11/11 1:35:47 PM) : NIFTY FUT -- buy 5245 tgt open

johnnypareek( 3/11/11 1:41:29 PM) : Give me cash nifty above 5236 n rest will really enjoyable

ashit_cg( 3/11/11 1:46:45 PM) : lo de diya 5236 ab kya

johnnypareek( 3/11/11 1:59:23 PM) : NIFTY fut - move SL to 5252

johnnypareek( 3/11/11 2:43:35 PM) : NIFTY FUT -- Raise SL to 5264 n lock some profit

johnnypareek( 3/11/11 2:50:03 PM) : NIFTY FUT -- Raise SL to 5279 n lock some profit CALL WAS GIVEN AT 5245

hmmm rest u can chk intraday chart.

well, I just told in other thread that will not post, but I can not resist my self.



********************************************

johnny

Great Going my friend. I have traded false breakouts around 1-2 pm in the market numerous amounts of time. These kind of trades give great risk reward. But i rarely do intraday trades now. I find swing trading more profitable and less stressfull

Blitzz

 

[Blitzz]

Bought coal india at 326.4 1 lot

Daily chart patterns signaling a bounce.

 

[Blitzz]

Coal India chart

MACD And POS showing that a bounce is quite probable. Volumes have also dried up so the downtrend should cease now.

Blitzz

 

[Blitzz]

Initiated Longs on Nifty today.

Target 1 : 5450
Reason
http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-55.html#post601356

S/l : 5150

Initiated buy here becoz 25th OCT high of 5250 was the first major support for nifty.

BLITZZ

Nifty future day low 5161. S/L placement was perfect.

Plan : S/l Remains the same... Target 1 i see is 5270. Will review the position there again if it gets hit.

 

[Blitzz]

Bought coal india at 326.4 1 lot

Daily chart patterns signaling a bounce.

Coal India showed tremendous strength today.It refused to fall down even though market was down. A good bounce is expected. If 320 gets broken then we may see lower levels.

BTW S/L for trade is 319. and Target 1 is 340.

 

[EagleOne]

Very clean, very simple setup you are following, Blitzz. Congratulation.
Coal india looks promising as you say. But it should clear 340 with good volume, otherwise the whole pattern is in danger of becoming bearish wolfe wave.

Take care.