US Markets
- Thread starter US Trader
- Start date
Daithi,
thank you for your charts. You might have to zoom them in more....make today's intraday bars more visible.
The lines you have drawn on the chart - are they manual or auto trend lines? What are they? fib lines? ...
What's your criteria or rules that gets you in in a trade like this? You might want to consider today's Nifty trade as your example to explain your rules.
Also, whats the margin with your broker to trade the mini nifty?
I need to check margins at IB.....
Regards
Shreenath
thank you for your charts. You might have to zoom them in more....make today's intraday bars more visible.
The lines you have drawn on the chart - are they manual or auto trend lines? What are they? fib lines? ...
What's your criteria or rules that gets you in in a trade like this? You might want to consider today's Nifty trade as your example to explain your rules.
Also, whats the margin with your broker to trade the mini nifty?
I need to check margins at IB.....
Regards
Shreenath
Last 2 screenshots.
Trade closed out with buy lmt order
http://img217.imageshack.us/img217/3441/india50scalp16jul095.png
What transpired afterwards - do you notice anything that is very obvious?
http://img232.imageshack.us/img232/8162/india50scalp16jul096.png
Must sign off, speak tomorrow.
Rgds,
Daithi
Trade closed out with buy lmt order
http://img217.imageshack.us/img217/3441/india50scalp16jul095.png
What transpired afterwards - do you notice anything that is very obvious?
http://img232.imageshack.us/img232/8162/india50scalp16jul096.png
Must sign off, speak tomorrow.
Rgds,
Daithi
NP Shreenath,
With imageshack I can now upload full image,
I use candles and bars - the reason is the bars are not coloured on basic charts, which I find fine, so on zoom out with candles you get the highs and lows with colours - it can be handy.
I will explain some rational tomorrow -sorry but must go now, being called.
Have a nice evening all.
Rgds,
Daithi
With imageshack I can now upload full image,
I use candles and bars - the reason is the bars are not coloured on basic charts, which I find fine, so on zoom out with candles you get the highs and lows with colours - it can be handy.
I will explain some rational tomorrow -sorry but must go now, being called.
Have a nice evening all.
Rgds,
Daithi
Hello All,
I am going to try a swing trade on the India 50 and see what happens - note that my risk is very small at only 20 pts on each trade which equates to $40 risk.
The reason I put these trades on is because I am busy and I can not watch the markets, so I pick some levels that I think may show some reversal, and just place the trade.
As mentioned, I am assuming that these trade will be losers, so even if I am not logged in to check the trades my total loss if both trades get activated before I cancel one, will only be $80.
Good trading to all.
Daithi
Chart
http://img402.imageshack.us/img402/812/india50swing17jul091.png
Trades in system
http://img140.imageshack.us/img140/9011/india50swing17jul092.png
Test for image load
The total margin on account for both of these trades is $80 at $40 per 1 contract when 20 pt stop is used - if no stop is used the margin rises to approx $1,750 per contract.
I am going to try a swing trade on the India 50 and see what happens - note that my risk is very small at only 20 pts on each trade which equates to $40 risk.
The reason I put these trades on is because I am busy and I can not watch the markets, so I pick some levels that I think may show some reversal, and just place the trade.
As mentioned, I am assuming that these trade will be losers, so even if I am not logged in to check the trades my total loss if both trades get activated before I cancel one, will only be $80.
Good trading to all.
Daithi
Chart
http://img402.imageshack.us/img402/812/india50swing17jul091.png
Trades in system
http://img140.imageshack.us/img140/9011/india50swing17jul092.png
Test for image load
The total margin on account for both of these trades is $80 at $40 per 1 contract when 20 pt stop is used - if no stop is used the margin rises to approx $1,750 per contract.
Last edited:
Shreenath,
I use no TA apart from Volume when available, most of the indices will not have any volume available unless one is using high end data feed, but for me I do not worry as volume can be misleading a lot of the times unless one is using it for daytrading stocks, which means you use the Time & Sales screen to watch the volume prints and size of prints.
I like to approach trading like this.
I look at the chart to see if I can notice major levels where a change might take place-but as I will never know for sure, as it is not possible, the only thing I can do is plpace the trade, use a stop, and see what happens?
If I win, good, if I lose, so what-as I am keeping my risk small to find out.
From my experience, most people do not make any money because they either do not trade enough, or they trade too much. I used to do both!
Now, I look, if I see what I think might work I just do it and see what happens.
Full time daytrading is different - set process with certain sectors and stocks-certain key things to watch and certain signals to move - but that requires total dedication, multiple monitors and no interruptions by people, as it will mean only one thing, and that is big losses if you trade big size - big size being 5000 share lots.
For now I am back in training, so the risk is kept very small.
Also, when I make money I take it out and start again. I have already made over 300% since last march, and the 300% has been withdrawn into cash, so now I am back trading with my original stake. I had a few losers a few weeks ago, a bit bigger than I had intended, but that was because I had my stops too wide and I did not re-enter correctly at6 lower levels - so it is a sort of balancing act at the moment - as sometimes I am just lucky when I look and I see a good opp, other times I can't log on and I miss some good opps.
That is the reality of trading - if you mess about it is very hard to make money- so the risk must be kept very small unless full dedication is given - then the risk can be increased, but only if the charts indicate a potential low risk trade.
This is just how I see it - others will of course have their own view, and methods, and this is fine, as we all think differently.
Rgds,
Daithi
PS. As far as I am concerned my 2 working trades are losers, if I win then that is good, but I have to accept them as gone, that way I can then plan and move on to the next trade, which I might win?
I use no TA apart from Volume when available, most of the indices will not have any volume available unless one is using high end data feed, but for me I do not worry as volume can be misleading a lot of the times unless one is using it for daytrading stocks, which means you use the Time & Sales screen to watch the volume prints and size of prints.
I like to approach trading like this.
I look at the chart to see if I can notice major levels where a change might take place-but as I will never know for sure, as it is not possible, the only thing I can do is plpace the trade, use a stop, and see what happens?
If I win, good, if I lose, so what-as I am keeping my risk small to find out.
From my experience, most people do not make any money because they either do not trade enough, or they trade too much. I used to do both!
Now, I look, if I see what I think might work I just do it and see what happens.
Full time daytrading is different - set process with certain sectors and stocks-certain key things to watch and certain signals to move - but that requires total dedication, multiple monitors and no interruptions by people, as it will mean only one thing, and that is big losses if you trade big size - big size being 5000 share lots.
For now I am back in training, so the risk is kept very small.
Also, when I make money I take it out and start again. I have already made over 300% since last march, and the 300% has been withdrawn into cash, so now I am back trading with my original stake. I had a few losers a few weeks ago, a bit bigger than I had intended, but that was because I had my stops too wide and I did not re-enter correctly at6 lower levels - so it is a sort of balancing act at the moment - as sometimes I am just lucky when I look and I see a good opp, other times I can't log on and I miss some good opps.
That is the reality of trading - if you mess about it is very hard to make money- so the risk must be kept very small unless full dedication is given - then the risk can be increased, but only if the charts indicate a potential low risk trade.
This is just how I see it - others will of course have their own view, and methods, and this is fine, as we all think differently.
Rgds,
Daithi
PS. As far as I am concerned my 2 working trades are losers, if I win then that is good, but I have to accept them as gone, that way I can then plan and move on to the next trade, which I might win?
I have added a swing trade for the DOW Cash Futures based on daily chart- again I am only trading 1 x $2 lot with a 20 pt risk for $40 max risk on trade.
Short Entry @ 8825
Stop @ 8845 (20 pts)
Target @ 8625 (200 pts initially with stop adjusted if trade works out to lock in profits)
Margin Required = $40
As usual, I expect this trade to lose until I am proven wrong by the market.
This has a very high risk of losing as the momentum is up-but I am only risking $40 to see if it will work out.
Rgds,
Daithi
Here is a zoomed it chart-I positioned my entry just below the 8837 intersection - it may well bust up to test the highs if it gets up there today, or it may pull back if it gets near- but I am only willing to risk the $40 to find out?
Short Entry @ 8825
Stop @ 8845 (20 pts)
Target @ 8625 (200 pts initially with stop adjusted if trade works out to lock in profits)
Margin Required = $40
As usual, I expect this trade to lose until I am proven wrong by the market.
This has a very high risk of losing as the momentum is up-but I am only risking $40 to see if it will work out.
Rgds,
Daithi
Here is a zoomed it chart-I positioned my entry just below the 8837 intersection - it may well bust up to test the highs if it gets up there today, or it may pull back if it gets near- but I am only willing to risk the $40 to find out?
Last edited:
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