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Nifty Futures Trading

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  #8981  
Old 24th July 2008, 05:16 PM
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Default Re: Nifty Futures Trading

Hi All on Traderji,

Here are the rules which I have fixed...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only for support under crictical conditions
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!

Will be starting paper trading from Monday after going through SAINT's docs again..Will keep updating here my positions..

Regards
Lalith
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  #8982  
Old 24th July 2008, 05:19 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by lalpar View Post
Hi All on Traderji,

Here are the rules which I have fixed...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only for support under crictical conditions
9) Ultimately will enjoy trading
10) and finally Keep Walking!!!

Will be starting paper trading from Monday after going through SAINT's docs again..Will keep updating here my positions..

Regards
Lalith
good i will also follow some of this rules like no more then 3 trade in intraday n max 100 points in nifty n then profit booking thnx keep on threads n active participations like this
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  #8983  
Old 24th July 2008, 05:30 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by lalpar View Post
Hi All on Traderji,

Here are the rules which I have fixed...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only for support under crictical conditions
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!

Will be starting paper trading from Monday after going through SAINT's docs again..Will keep updating here my positions..

Regards
Lalith
point no.8 - there should be no critical condition with stop losses, 2nd lot should be used to add on winning trade not average a losing one, IMO All the best
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  #8984  
Old 24th July 2008, 05:31 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by Czar View Post
point no.8 - there should be no critical condition with stop losses, 2nd lot should be used to add on winning trade not average a losing one, IMO
Yup..Got It ..Use 2nd lot to add to winning trade rather than a lososing one ..Thank u very much...

Cheers
Lalith
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  #8985  
Old 24th July 2008, 05:34 PM
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Smile Re: Nifty Futures Trading

Quote:
Originally Posted by Czar View Post
point no.8 - there should be no critical condition with stop losses, 2nd lot should be used to add on winning trade not average a losing one, IMO All the best
gooooooooooooood thnx for ur nice advice
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  #8986  
Old 24th July 2008, 06:06 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by lalpar View Post
9) Ultimately will enjoy trading
What a rule
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  #8987  
Old 24th July 2008, 06:13 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by lalpar View Post
Hi All on Traderji,

Here are the rules which I have fixed...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only for support under crictical conditions
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!

Will be starting paper trading from Monday after going through SAINT's docs again..Will keep updating here my positions..

Regards
Lalith
Thanks
Where is Entry & Exit rules?
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  #8988  
Old 24th July 2008, 06:34 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by sikandar View Post
Thanks
Where is Entry & Exit rules?
Will post after going through Saint sir docs again...Need to refresh everything from Scratch...
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  #8989  
Old 24th July 2008, 06:47 PM
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Default Re: Nifty Futures Trading

whenever in a confirmed trend, then news just pour in to support that trend..

RIL results InLINE
Inflation ROC slowing - this week 11.89% vs 11.91%
LEFT no longer left with ruling govt
monsoon revival's reports
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  #8990  
Old 24th July 2008, 09:22 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by lalpar View Post
Hi All on Traderji,

Here are the rules which I have fixed...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only for support under crictical conditions
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!

Will be starting paper trading from Monday after going through SAINT's docs again..Will keep updating here my positions..

Regards
Lalith
I do not know if you have consulted anyone to develop the rules... but other than sticking to the SL all have flaws!

Even the SL level is major mistake... else explain why 8 pts and 100 pts? Any logic? How do you know that you will get 12 pts? What if you get 11 pts...

Now do not think that I am discouraging your effort.... but as you said you going to paper trade... you will YOURSELF find out the flaws in the rules! And I am sure that you will modify the rules ... next time you post your rules ... you will notice the positive change!

The Rule 10 put it to point 1 and then you will see automatically your rules will change accordingly... your rules still filled with emotions!

Do not feel offended friend with my post! Just my views.... hope it helps!

Regards
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