Trading Intraday: Crude, Copper, Nifty & Banknifty

[NTrader42]

Hello

I finally figured out a way to post more than 2 charts (previously had to delete old ones to load new) so starting this thread to blog some of my intra-day trades and discuss few trading concepts to help in learning process for myself and other participating in the conversation here.

I do not have a fixed style of trading, but i mostly trade the intraday time frames. When I carry the position overnight I do it using NF or options based on it. I still consider myself as a newbie trader.

In the near term I am planning trade only Futures of Crude & Copper on MCX, and Nifty & Banknifty on NSE. I do try to watch Gold & Silver but no plans to start trading them for now.

Thanks
NT

 

[NTrader42]

ABOUT 315

Hello

I came to know about this system here and the way i looked at MAs changed, my view was that MA cross does not work consistently, i still carry the same view but now i know that we can still use a system with a pair of MAs to trade effectively as it goes much beyond just trading the cross.

I have done loads of tests (and am still working on it) using the entire historical data and i am convinced that i will be able to trade the 315 system with all the current improvements made by SH.

But before I start trading it I will have to go through all the days for Nifty future "bar-by-bar" to test my understanding of the system and imbibe it into my mind so the trading decisions becomes automatic, maybe it will take me this month to do so, then i can start trading it from Jan.

However on this thread i will discuss only my intraday trading. I do not have a fixed system for trading intraday. Jumping from one thing to the next is the biggest problem. I hope i can get into some disciplined habits and start sticking to one methodology for trading intraday.

Thanks
NT

 

[NTrader42]

Hi again

I took this trade today morning.

Banknifty futures on 1 Mins

Today morning it seemed banknifty and nifty are trying to go in opposite direction, banknifty showed strength for upside where as nifty looked to be wanting to go down. Took a long trade on bank nifty based on the 2 bands of MAs. If this trade would have failed, i would have taken a short on nifty.

I am learning to trade the guppy MA charts, this chart is not the correct guppy MA as was pointed out to me today itself by Rishi.

Thanks

Thanks

 

[NTrader42]

Hi

Took a long on NF 4990, same method 5 Mins chart, turned out to be nice trade but as usual i did an early exit at 5022, maybe with 1 mins this exit was fine but 5 Mins should be holding that Long trade even now.

I did not take the longs that was there on banknifty as usually try to trade a single counter, i also need to be able to improve on this aspect of my trading.

Both Copper and Crude also giving an opportunity for long trades but also did not trade any of them. if taken any of them would have closed and done for the day

Now looking for trades on crude & copper only, done with bank & nifty

Thanks
NT

 

[NTrader42]

nifty future 2-dec on 5 minutes

Missed out on major portion of the rally due to hasty exit.

Now waiting for a decent retrace on copper and crude for a long entry.

Thanks
NT

 

[NTrader42]

Clearly missed a nice long opportunity on copper waiting for a pull back that did not occur, but no regrets as cannot take a trade with unfavorable RR

Crude on a good deep pullback on 5 and 15 minutes, hourly in crossing up mode lets see if it turns up and gives a long trade now, will take long based on 5 minute charts.

After reading Rishi's posts I am looking at higher time frames for trading, tey look much better but i am not used to carrying position overnight and the deep stops HTF trading will involve.

Thanks

 

[NTrader42]

Finally got trades on copper and crude, took both so 1/2 quantity, missed the morning trades and had to wait for long but finally patience paid off.

Am done for the day. . .

Everyone have a nice weekend

Thanks

 

[vikrit]

Hi again

I took this trade today morning.

Banknifty futures on 1 Mins

Today morning it seemed banknifty and nifty are trying to go in opposite direction, banknifty showed strength for upside where as nifty looked to be wanting to go down. Took a long trade on bank nifty based on the 2 bands of MAs. If this trade would have failed, i would have taken a short on nifty.

I am learning to trade the guppy MA charts, this chart is not the correct guppy MA as was pointed out to me today itself by Rishi.

Thanks

Thanks

which ma's use in this?

 

[ArvindUpadhye]

Dear all,

I am trying to find best value for simple moving averages for intraday trading. If anyone has had good success with intraday trading using SMA pls let me know> Also, pls inform me on what period candle charts do you use those SMA.
Your help will be highly appreciated.

 

[ashwani chadha]

dear all,

i am trying to find best value for simple moving averages for intraday trading. If anyone has had good success with intraday trading using sma pls let me know> also, pls inform me on what period candle charts do you use those sma.
Your help will be highly appreciated.

dear.
For intraday trading the best sma which is used is 10 sma and it is always used at one hour hour time frame.
How to use it
if trend will be up or say long from intraday point of view
normally there will be gap up opening above 10 sma
now weight for two three hour so that price can touch 10 sma ,once it touch go long.and once it will touch it will take jump from it on up side ,after that take target profit and close the trade-dont carry it for next day-it is intradaY trading system
(i time tested this system in live market for several years !!!)