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Discuss Nifty Futures Trading at the Derivatives within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by aca_trader Moving SL to 4842 in Spot. Ashish, Just an academic query... ...


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Derivatives Discuss Futures & Options in securities whose value is derived from an underlying instrument.


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  #2861  
Old 2nd April 2008, 11:14 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Moving SL to 4842 in Spot.
Ashish,
Just an academic query... nothing to question your process..Can we put our Stop above the line indicated in the chart? If not, can you tell how is 4842 level determined?

Thanks for yr time.

Last edited by rakeshluthra430; 13th October 2008 at 09:37 PM.
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  #2862  
Old 2nd April 2008, 11:18 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Moving SL to 4842 in Spot.
Exited @ 4861.
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  #2863  
Old 2nd April 2008, 11:25 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by rakeshluthra430 View Post
Ashish,
Just an academic query... nothing to question your process..Can we put our Stop above the line indicated in the chart? If not, can you tell how is 4842 level determined?

Thanks for yr time.
Hi!

If we are using pivots, certainly we should put stops there.
Now, let's see what happened in NIFTY today and why I put my trailing stop @ 4842 in Spot.

Spot was taing support at Middle BB on 5 Min, On 1 Min it had broken a downward sloping support TL and had come inside. Sensex had breached 16000 (Psycho Level) and had come back. All this happened at the same moment. Hence, I moved my SL to the high of the previous 5-min bar.

You can say there is no system over here and only discretion.

Regards,
--Ashish
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File Type: png NIFTY_Spot_1Min.png (19.4 KB, 34 views)
File Type: png NIFTY_Spot_5Min.png (25.5 KB, 29 views)
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  #2864  
Old 2nd April 2008, 11:26 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by bbrahma View Post
Looks like NF inverse H&S forming
Very clear on 1 min chart.
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  #2865  
Old 2nd April 2008, 11:36 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Hi!

If we are using pivots, certainly we should put stops there.
Now, let's see what happened in NIFTY today and why I put my trailing stop @ 4842 in Spot.

Spot was taing support at Middle BB on 5 Min, On 1 Min it had broken a downward sloping support TL and had come inside. Sensex had breached 16000 (Psycho Level) and had come back. All this happened at the same moment. Hence, I moved my SL to the high of the previous 5-min bar.

You can say there is no system over here and only discretion.

Regards,
--Ashish

Hi Ashish,
Thanks a lot sir for the wonderful explaination..will keep learning from you.

Thanks,
Rakesh
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  #2866  
Old 2nd April 2008, 11:49 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by rakeshluthra430 View Post
Hi Ashish,
Thanks a lot sir for the wonderful explaination..will keep learning from you.

Thanks,
Rakesh
Always my pleasure Sir!
Shorted @ 4830, SL @ 4850.
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  #2867  
Old 2nd April 2008, 11:53 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

shorted at 4830
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  #2868  
Old 2nd April 2008, 11:55 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Always my pleasure Sir!
Shorted @ 4830, SL @ 4850.
Do you feel it still goes down even i have shorted at 4830
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  #2869  
Old 2nd April 2008, 11:59 AM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

i am long with a stop of 4820, ajax's kiss strategy...


Quote:
Originally Posted by nagendra_gb View Post
Do you feel it still goes down even i have shorted at 4830
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  #2870  
Old 2nd April 2008, 12:07 PM
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Default Re: Time to Stick my Neck Out ,Nifty 7300

Quote:
Originally Posted by aca_trader View Post
Always my pleasure Sir!
Shorted @ 4830, SL @ 4850.
Thanks a lot man, u have saved me many times
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