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| Discuss Trading Nifty at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by uasish Simply getting addicted to this Thread day by day ,truly Gr8. ... |
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#131
6th August 2007, 03:19 PM
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Re: Trading Nifty
Quote:
With best wishes, Gaurav Kumar 
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#132
6th August 2007, 08:33 PM
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Re: Trading Nifty
Dear Friends,
Our position is as under 1.Nifty purchased at 4530 on 23/7/07 , current price 4321, M to M = -11950/- 2. Nifty purchased at 4410 on 30/07/07, sold on 31/7/07 at 4460, Net profit = 2500. 3. Nifty Sept series shorted at 4440 on 31/07/07, covered on 1/08/07 at 4340, Net profit = 5000/- 4. Nifty August series Long at 4330 on 1/8/07, Sold at 4350, Profit = 1000/- 5. Nifty August series Long at 4255 on 6/8/07 and sold at 4390, profit = 1750/- Net position Booked Profit = 10250/- M TO M = -11950/- Net = - 1700/- We could have made more today but since i was out on some work, we did not make full use of the opportunity. In any case, we had to exit the position taken today. this was to ensure we have enough back up in case we see another fall tomorrow. Readers shall note that the market behaved in line with expectations. At no point since the start of the thread on 23rd July we have faced any problems on margins, despite holding a long position since 4530 levels. In addition we have been tension free. Just as the market returned to 4320 levels as predicted, the market has to touch 4500 levels at least once this month. At that time the M to M loss would be eliminated and we would be left with profits only. Next post tomorrow. With best wishes, Gaurav Kumar
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#133
6th August 2007, 10:54 PM
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Re: Trading Nifty
Have to accept that you have done good, really good. Though still have some reservations mailny (maybe) due to the in built mechanism in the subconcious which simply refuses to accept a trade without a SL.
Long term investment maybe I'll agree to enter w/o a sL BUT TRADING NO WAY. All the best Regards. -R.K.Karnani
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#134
6th August 2007, 10:59 PM
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Re: Trading Nifty
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 I shall post my views about the shortcoming I feel your system might have, ane beware my views would be worth maybe a dime only as I am myself still a learner. The only thing I pride myself in is my discpline. More on getting some spare time. Regards. -R.K.Karnani
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#135
6th August 2007, 11:14 PM
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Re: Trading Nifty
Gaurav,
One thing is niggling at the back of my mind,why we are defending.When your anticipation of Nifty's movement still now is spot on,then why we are obstinately carrying a confirmed MTM loss ,whenever the 1st anticipatory position went against me if i have booked loss then ,now with all these dot on Right speculation ,i am well in profit (over & above my earlier booked loss). Wrigling out of a Boxed situation is a Must quality of a good Trader,which you have demostrated in abundance,but somehow it seems our attitude is Defending a Loss. Hope you understand the spirit ,this is a Thread i visit everyday. Asish
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#136
7th August 2007, 12:45 AM
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Re: Trading Nifty
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Let me clarify. Till the day CRR hike was announced, i was sure that the market would go up, so the question was of defending a small M to M loss which i would do. Once the CRR hike was announced, i hedged at an appropriate time. I could have exited but market patterns showed a big possibility of an upmove before the fall. The upmove happened and we ended the day 4500 +. I should have exited before close, but i got a bit greedy. I considered the possibility that the market would open up first, touch 4550 and then fall, so i did not exit the long position and decided to exit the next morning. That was a mistake in hind sight. Next day the market opened very weak. In my view if i am sure that the market would bounce back and i am in a position to handle the M to M loss, i should do so. This is because booking a loss is very easy and erodes your capital and also makes you impulsive in order to retrieve the loss. Of course, had the market opened flat that day and then fallen, i would definitely have exited taking a minor loss in stride. As also if i am to be sure that the market is condemned to a long term trend reversal, i would surely look to exit rather than hold on. Ashish, i have visited some of your threads and like what you write. I welcome your comments (and will accept critism from anybody also with a positive attitude). My earlier reactions to some members was not out of fear of getting critised but because some members repeatedly mocked me without understanding what i was saying. Keep your questions coming. would help me. With best wishes, Gaurav Kumar
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#137
7th August 2007, 12:49 AM
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Re: Trading Nifty
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Good to hear something positive from you. We all are learners. even though i have 8 years of experience in the markets, there is still a lot to learn. As i have said before the person who makes money is the king, whatever the technique may be. So no harm done. My thread is only to educate people that there are alternative means which give high returns (you will see for yourself ) and also gives less tension. All the best, may you make tons of money and hope none of your SL are ever trigerred . With best wishes, Gaurav Kumar
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#138
7th August 2007, 01:30 AM
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Re: Trading Nifty
Though the CRR hike was anticipated & the hike was announced on mkt on thursday itself but you thought it is discounted as even after hike the mkt went up,but OK got your point. You are very meticulous in your plan & ready with contigency plan B also,so on Friday pre-mkt it seems the contingency plan didnt took into a/c about a Huge Gap down ,OK that is also possible but after seeing that Gap ,didnt it spark you to Sell Double ? Or you thought let the Day end & let me read the movement ,after that in cool mental frame i will work out a way out.
As it seems now you went for the 2nd option.Frankly i fail to understand ,as you can judge the 'Price Zone sentiment area' very well than many others,then why you did not Sell (not even double but plain vanilla holding) at 10.15 on Friday with SL (only to cover later on the day) ,this jobbing ,your & our type of trader always do with holdings whether in cash or derivative. Dont tell me you where paralysed (which i dont believe) ,jobbing is not booking loss.Only those can take recourse to jobbing ,who are more confident about Price levels (becoz if it boomerangs & hit SL ,then both bird in hand & bush gone).You have also demonstrated your uncanny accuracy of price levels. I was just trying to read your mind.Still now i firmly believe you will come out of this successfully ,but analysing these kind of situation in my trading life i have seen a riskier selling double or simple jobbing pays. Plz share your experience in this,i always look forward to enrich myself from good traders rich experience.
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#139
7th August 2007, 01:52 AM
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Re: Trading Nifty
hi gaurav
no doubt whatsoever..that this is the best thread in traderji i realy like and appriciate your efforts... jus try to be a little simple for lots of newbees..so that they will get benifitted... and YIPPIE YEAHHHHHHHHHHHHHH dow has gone crazy today +286  RECORD for the year,,,,now is that the reversal????;ooks so as any thing below 120 was jus normal...but a gain of 286... ashish da plss throw your views and the views of other seniors are appriciated too morning gonna be pleasent love you all
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#140
7th August 2007, 06:01 AM
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Re: Trading Nifty
Quote:
Have seen posts by ashish da here and feel we all shall get enriched by these exchanges.
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