NIFTY Futures Mechanical Trading

nitinku5021a · #**411** 23rd March 2008, 11:00 PM

Quote:

Originally Posted by sillu_m

Thanx uashish for ur reply.......will go through the whole thread. Can we trade nifity intraday. I mean if i bought nifty future then one can close his position on the same day?

Hi Sillu,

I will take the opp to answer ur query

. Yes you can trade nifty intraday. Many broker charge only the half brokerage incase you square off the position on the very same day.

You dont need to do select anything extra for intraday ( as for stocks, in ICICIDirect, you have to use Margin thing ). Just square off on the same day or carry over....your choice.

Regards
Nitin

columbus · #**412** 23rd March 2008, 11:56 PM

Quote:

Originally Posted by nitinku5021a

Hi Sillu,

I will take the opp to answer ur query

. Yes you can trade nifty intraday. Many broker charge only the half brokerage incase you square off the position on the very same day.

You dont need to do select anything extra for intraday ( as for stocks, in ICICIDirect, you have to use Margin thing ). Just square off on the same day or carry over....your choice.

Regards
Nitin

Sometimes you lose the REAL action if you go for INTRADAY square-off because the orders will be SQUARED OFF at around 3.15 depending on the brokerage house.I feel better to pay the NORMAL brokerage so that you order will not be squared off FORCIBLY.

nitinku5021a · #**413** 24th March 2008, 12:00 AM

Quote:

Originally Posted by columbus

Sometimes you lose the REAL action if you go for INTRADAY square-off because the orders will be SQUARED OFF at around 3.15 depending on the brokerage house.I feel better to pay the NORMAL brokerage so that you order will not be squared off FORCIBLY.

No No, you got me wrong. There is nothing called forcibily..i hope i tried to clear that with the example that how its different from cash segment.

In ICICIDirect, if you square off your position on the same day then only one sided brokerage is charged else if you carry over then both side you have to pay.

Nitin

sillu_m · #**414** 24th March 2008, 12:03 AM

Thanx nitinku & colmbus.

uasish · #**415** 24th March 2008, 12:07 AM

Quote:

Originally Posted by columbus

Sometimes you lose the REAL action if you go for INTRADAY square-off because the orders will be SQUARED OFF at around 3.15 depending on the brokerage house.I feel better to pay the NORMAL brokerage so that you order will not be squared off FORCIBLY.

columbus,

F & O are never compulsory sq-off.

Asish

uasish · #**416** 24th March 2008, 12:17 AM

Quote:

Originally Posted by nitinku5021a

Hi Vinod/Uasish,

First of all, Let me thank both of you for your contribution. I was going through Vinod's system and simulated my trade side by side for the 1st 3 months in 2007. Used Vinod's excel sheet for the year 2007, applied my support and resistance and then day by day moved ahead with as much caution as possible.
I am attaching the excel sheet for your comment / advice.

Regards
Nitin

Nitin,

It is not a question of Vinod's one is good or bad,he is posting the thing regularly to instill confidence in us,i wanted to bring to notice that a Specific type Entry / Exit (that specific type may have lots of flaw etc,whatever it may be) ; following everyday ;can give us profit.
Now i find your one has given more points,very good go ahead with that,follow it regularly like a robot & reap the benifit,let us jump from the drawing board to actual arena.Before jumping design / redesign with all type of eventuality,but once satisfied let us plunge.

Asish

columbus · #**417** 24th March 2008, 12:17 AM

Quote:

Originally Posted by nitinku5021a

No No, you got me wrong. There is nothing called forcibily..i hope i tried to clear that with the example that how its different from cash segment.

In ICICIDirect, if you square off your position on the same day then only one sided brokerage is charged else if you carry over then both side you have to pay.

Nitin

In that case I have to ask my broker (SHAREKHAN) about this.Thanks Nitin for the information PLUS sharing your NIFTY strategy.

nitinku5021a · #**418** 24th March 2008, 12:47 AM

Quote:

Originally Posted by uasish

Nitin,

It is not a question of Vinod's one is good or bad,he is posting the thing regularly to instill confidence in us,i wanted to bring to notice that a Specific type Entry / Exit (that specific type may have lots of flaw etc,whatever it may be) ; following everyday ;can give us profit.
Now i find your one has given more points,very good go ahead with that,follow it regularly like a robot & reap the benifit,let us jump from the drawing board to actual arena.Before jumping design / redesign with all type of eventuality,but once satisfied let us plunge.

Asish

aah..never meant to be for comparision...mine one is not thoroughly tested..thought will get some questions on my stop and entry and will remove the many errors out thr.
Vinod's one is real time...and mine one was just a simulation, I tried to find the stop and entry , used by him , couldnt co-relate so executed with mine..happy to see it is giving a bit more but again confidence will come once I am out playing it at real time. Never did mechanical trade like this and Vinod's thread has given me enough enthu n confi to start with.
I am still going with the simulation , day by day, setting my exit n entry and then seeing the day ahead.

Some query which i would like to bring forward :

1) Once I am in trade, my exit become tighter day by day, and once mkt become rangebound , say for just 2-3 days, i am giving my exit very tight. Sometime it helps me to protect my profit but again sometime I am quitting too early. I am confused here...am i mixing my emotion here?

2) Does fibonacci retrace works on very short period ( like if EODs then 4-7 days )? bcz I m using this as one of my tool for exit n entry.

3) Can you suggest some other tools to test for support and resistance?

Regards
Nitin

uasish · #**419** 24th March 2008, 07:58 AM

As Vinod has made this Set-Up hence it is better that he answers your query.

nadodav · #**420** 24th March 2008, 09:37 AM

NIFTY FUTURE For March 24,

Current position : Nil

Nifty Fut Closed at : 4572.70

Net Profit/Loss since thread started : +1581

Support : 4528
Resistance : 4682

I will go LONG above 4682 with SL 4528 or go SHORT below 4528 with SL 4682.

Happy Trading.

Vinod