Help needed to avert loss on natural gas on 26/12/2013

Could anyone suggest the views on natural gas on 26/12/2013 ? What strategy might be adopted on that day ? I have bought 1 lot of natural gas on 23/12/2013 @280.4/- and trying earnestly to avert any loss. I am too much scared about it's trend. What should be done ? Please anyone help me.

Sell december contract and buy next month contract. Target is above 300

You bought at higher levels.

I dont know which type of trader you are now.

If you are an intraday trader, you should have come out from your position

If you are a positional trader, your stop loss is below 268 only. until it reaches 268, you can hold the position for the target of 300 within 2 weeks.

this is my personal view. take your own decision.

Averaging the position is not advised in these levels

I am a beginner in commodity market and have intension to do positional trade on this scrip. After all i do frequent trade in commodities market to earn some extra money. Don't know much about how intraday or positional trade is done. After all i have not too much time to totally devote in the commodity market but want a little bit profit from the market.
What strategy i have to follow ?

Dont play positional unless u understand the game...entire mkt is long here...i dnt expect it to move in a hurry before testing 255/257 lvls..n m sure u ll sell iff in panic once it moves twds those lvls...i think the top is in place and we may continue to see some more downside.. Ii m shrt frm 277 lvls wid stops abv 280 fr a tgt of 256...

Better to book loss and take short position as per me....270 and below is inevitable and can go down to 260 in short term, no doubt long term view is of long, but correction is due.

Agree wid ashu ji....

Aah, haven't seen your comment before posting.....almost duplicate lol.

On what timeframe did you take the position?

hourly, daily , weekly?

i have taken the position on weekly basis.

We are in a uptrend, but its time for a pullback(correction) now. you have entered at the wrong location. right at the top of the pullback , where amateurs enter. Who the hell gave you this call. Please stop taking calls from that person. Either do your own analysis or stay out of futures market. It's not for beginners.


For now, i would say wait a while till expiry. you have taken a loss anyways. if the bulls decide to come in today, you might have a chance to break even or take a small loss.But,if price goes below 270, it's time to exit.

P.S - i am assuming you have taken dec futures, if not let me know..