Trading Nifty

Gaurav Kumar · #81 1st August 2007, 09:42 AM

Many posts would not appear here ridiculing your strategy had you at the begining said about hedging. Now here you talk about : breathing space, without fear etc., many here were probably trying say this only that your initial position did not make one 'breathe easy' and were 'fearful' as the quantum of loss was not defined. It also tells us that inspite of your statement to the contrary you were not 'cool' about your trade till you took a hedge position[/quote]

Talking about cool, i was cool throughout. The only problem was yesterday, when i had to adjust to an unusual development. My hedge came up only because of an unusual development. Mind you the market initially fell on the CRR hike, i did not hedge then but waited for the market to come up a bit before hedging.

The market patterns change once a new development takes place, and hence the reason for my action. Till that development took place i was secure in my belief that the market would indeed come up. Once the deveoplment took place, which at least appeared to be negative, i have to protect my positions, which i did by hedging.

Now i can wait to see how market behaves, and study patterns. Since the patterns change now, it requires a study, which cannot be done in two minutes. So i needed to buy time, which i have done by hedging. In my view impulsive decisions often prove to be wrong. so i do not shift positions as soon as i see a few points drop etc.

To each his own strategy

With best wishes,

Gaurav Kumar

Gaurav Kumar · #82 1st August 2007, 10:10 AM

we are booking profit on short position on September series @ 4340

With best wishes,
Gaurav Kumar

Gaurav Kumar · #83 1st August 2007, 10:15 AM

Dear Friends,
We are buying nifty August series one lot@ 4330 and plan to sell it at 4400.

ccmb420 · #84 1st August 2007, 11:36 AM

Quote:

Originally Posted by Gaurav Kumar

Dear Friends,
We are buying nifty August series one lot@ 4330 and plan to sell it at 4400.

Read your reply to my post. Good.
Nice to see your strategy working. Good that u did not get frustrated and stopped posting. Let me tell you this exercise will help you improve your trading strategy.
Though I find a small anomaly , you seem to have advised exit in Sept. series yesterday but today you again advise to book profits??? I saw your post telling to exit sept as and when aug comes to 4450 or so....
Also do realise that hedging is also a form of stop loss, which you had not mentioned in your original, rather your First Post initiating this discussion.
I agree with my friend RKK that many posts here would not appear had it been mentioned in your original strategy.
Please keep it up and keep posting.
Wish your calls profits.....

Gaurav Kumar · #85 1st August 2007, 02:48 PM

Quote:

Originally Posted by ccmb420

Read your reply to my post. Good.
Nice to see your strategy working. Good that u did not get frustrated and stopped posting. Let me tell you this exercise will help you improve your trading strategy.
Though I find a small anomaly , you seem to have advised exit in Sept. series yesterday but today you again advise to book profits??? I saw your post telling to exit sept as and when aug comes to 4450 or so....
Also do realise that hedging is also a form of stop loss, which you had not mentioned in your original, rather your First Post initiating this discussion.
I agree with my friend RKK that many posts here would not appear had it been mentioned in your original strategy.
Please keep it up and keep posting.
Wish your calls profits.....

Dear Friend,

Please read my post carefully and also see the time i posted. I said that is the august series comes back to 4440-4445 then exit september series. If you look at the time i posted and then look at the charts, you will find that the August series did not come back to 4440-4445 after my post. The lowest it hit was about 4455. So no action was to be taken.

I cannot say anything if people do not see the time at which posts are made.

If anybody proves that after my post the august series came down to 4445 i will stop writing and apologise.

Let me explain the logic of yesterday's post.

In my view market should have crashed after the CRR hike. I waited for a relief rally at which point i advised hedging. Now the market instead of falling started going up. This is contrary to all logic. So i questioned myself as to who would be driving up the market and why.

The answer to that in my mind was that there is someone big who wants to exit. So that person/group was driving up the prices. Now in my mind there were two possible patterns that were forming. Either the market would keep on going up, in which case, the person concerned would exit and the next day the market would fall, or he would like to take the market up even higher before exiting. In which case i expected that the market would correct again a little before moving up. If the market was to correct then, the question retaining the short position would not have been advisable. So my post.

In my post please again the "IF" as also check for yourself whether the market actually came down to that level after my post. I am sure you will find out for yourself that there are some people who seem to be going all out to discredit me... I dont mind that... For the loss is not mine..

I do not mind critisim, but misleading others is not what i think is right and not in the spirit of the forum.

With best wishes,

Gaurav Kumar

rkkarnani · #86 1st August 2007, 03:31 PM

Quote:

Originally Posted by Gaurav Kumar

Dear Friend,

Please read my post carefully and also see the time i posted. I said that is the august series comes back to 4440-4445 then exit september series. If you look at the time i posted and then look at the charts, you will find that the August series did not come back to 4440-4445 after my post. The lowest it hit was about 4455. So no action was to be taken.

I cannot say anything if people do not see the time at which posts are made.

If anybody proves that after my post the august series came down to 4445 i will stop writing and apologise.

Let me explain the logic of yesterday's post.

In my view market should have crashed after the CRR hike. I waited for a relief rally at which point i advised hedging. Now the market instead of falling started going up. This is contrary to all logic. So i questioned myself as to who would be driving up the market and why.

The answer to that in my mind was that there is someone big who wants to exit. So that person/group was driving up the prices. Now in my mind there were two possible patterns that were forming. Either the market would keep on going up, in which case, the person concerned would exit and the next day the market would fall, or he would like to take the market up even higher before exiting. In which case i expected that the market would correct again a little before moving up. If the market was to correct then, the question retaining the short position would not have been advisable. So my post.

In my post please again the "IF" as also check for yourself whether the market actually came down to that level after my post. I am sure you will find out for yourself that there are some people who seem to be going all out to discredit me... I dont mind that... For the loss is not mine..

I do not mind critisim, but misleading others is not what i think is right and not in the spirit of the forum.

With best wishes,

Gaurav Kumar

Sir, I regret the error. I apologise. Had not checked the time as you rightly pointed out.
However please note I have no intention to 'discredit' you. This is my last post in this thread and sorry for all the heart burns my post must have given you. I iterate that my posts were part of on going discussuion and without any ulterior motives.
Bye and all the best to you.

Gaurav Kumar · #87 1st August 2007, 03:32 PM

Nifty future has closed at 4300 odd. I believe we shall see nifty at around 4400 which will give us an opportunity to book profit on the nifty we purchased today at 4330. Of course after that also we would have one nifty still left in long position, but then overall we would have reached a level of profit.

Post on the current position will follow in the evening when i am free.

With bset wishes,

Gaurav Kumar

Gaurav Kumar · #88 1st August 2007, 03:54 PM

If Nifty future comes back to 4440-4445 today in August Series , we will exit the short position in nifty future (september series) as the market would rise tomorrow. If the market on the other hand does not correct we do not take any further action.

Dear Friends,

I re-read the post that i made earlier. It is reproduced above. At the time of writing of the post nifty aug future was at 4460 (members may confirm), so the interpretation had to be that teh market should fall to 4440-4445. At least that is how i meant to write. The word "correct" in the post also should have indicated that.

Perhaps some members did not understand that, maybe beacuse the post was written in a hurry as i was myself busy at that time on the terminal.

My apologies to anybody and everybody on that count. Will try to be more precise in my post so that there is no confusion..

With best wishes,

Gaurav Kumar

uasish · #89 1st August 2007, 05:05 PM

Gaurav,
You have stirred considerable interest in me for your posts.I personally respect honesty amongst traders,which you have earned from me.

Asish

Gaurav Kumar · #90 1st August 2007, 05:26 PM

Quote:

Originally Posted by uasish

Gaurav,
You have stirred considerable interest in me for your posts.I personally respect honesty amongst traders,which you have earned from me.

Asish

Dear Ashish,

Thanks a lot for your comments. I really appreciate it.

With best wishes,

Gaurav Kumar

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