Day Trading : Nifty Futures : 50 point game

trader15

Well-Known Member
#1
This is to document my monthly trades: My target is to get 50 point Nifty futures per month (yes it's per month and not per day)

Will be using leverage to maximum : using cover order for daily trades: Around 7K margin required for 1 lot

I may explore bank nifty futures also: As that has large range everyday: For BNF: Target will be 100 points/month as lot size is half of nifty futures

Disclaimer: I'm getting converted from option trading, and still will be reading and analyzing options, but will not be trading options at all for next 1 month

Am also giving up on stock trading which I was doing intraday and also stopping dabbling into stock futures. So no options, no stock futures or intraday stock trading : ek hi target : 50 point nifty per month
 
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narayan78

Well-Known Member
#2
Trader15 bhai,

it's like minimum target and less number of trades and maximum lot size .

Then your stop loss should be kept @ min level right.

may I know what is the target, stop loss and lot size for one trade.

And BEST WISHES for your trades.

with cheers,
narayan.
 

trader15

Well-Known Member
#3
Trader15 bhai,

it's like minimum target and less number of trades and maximum lot size .

Then your stop loss should be kept @ min level right.

may I know what is the target, stop loss and lot size for one trade.

And BEST WISHES for your trades.

with cheers,
narayan.

Lot size : no limit on lot size. My strategy is to consistently month on month get 50 pts and trade with compounded profits ( or loss). Will start with initial fixed capital with 3 to 4 lots to start with. Will be using cover order only, with 7 k marging req and another 3k per lot for Mtm

Target per trade: my minimum break even for trade is 1.5 points for brokerage. Depends on market movement, I will not have specific target per trade. I plan to enter on support resistance of nifty only and will try to catch as many points in single trade.

But but yes post 50 points will stop trading for month.

In volatile scenario of today's market, I'm looking at around 10 points per trade

Stop loss: max of 5 points per trade (1:2 rr) now this may be less than or more than it depending on how market move suddenly, as we know nifty suddenly drops or rises 15to 20 points. But since I will be trading in front on screen, so will be closing the. Trades based on gut feel while keeping wider sl since I'm trading on cover order.


Few things which will be crucial for success will be the psychology while trading... Will need to be swift and close he trades quickly and not try to " boil the ocean" in single trade.

Will be using simplistic system to trade, with following key elements to decide

A) macro trend : short term trend
B) 315 system : to identify to be long or short
C) daily pivots to play intraday
D) simple moving averages
E) economic calendar : to know news days
F) options data : to analyze and confirm market movement
 
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