Futures swing trading

[GTHELAKKAT]

Hello

I went long on Canbak at 362 but reversed my position at 350 loss 12 points.The net profit now is 44 points. Sl now is 367.

I was long on RELcap from 325 and reversed my position at 347 today .Profit now is 9 points+22=31 points.Sl is now at 356.

I went long on Rel cap at 325 on 27 Jun.I updated my SL to 338 after 12 PM when the price has crossed 350. The trailing stoploss has moved up.

Regarding you other points i suggest you attend a technical analysis workshop .They conduct on line and classroom sessions.Please search website as i cannot promote any site here.

 

[GTHELAKKAT]

Hello

Canbk - I went short yesterday at 350 but today went long at 357. the loss is 6 points.Profit is now 44-6=38 points

Relcap - went long at 352 .loss is 5 points.the profit now is 31-5= 26 points

I reversed my position yesterday but had to reverse again today.Such wipsaws do happen but not frequently. We must have sufficient margin to reverse.Hence do not over trade.If any one has to trade like that start with only one lot or one future. Add second lot only when you have made some profit and when you add second lot see that in case with stop loss of both lots are hit you should not lose from your capital. Third lot also you must follow same principle.This way with in 3-4 months you may be trading 2-3 lots and you wont worry about reversal losses.

 

[GTHELAKKAT]

Hello
CAN BK still long with SL reversal at 340

Reliance Capital long I closed at 368.Profit is 16 points.Toal profit is 26+16=42

I closed it because on 2 /7/13 it went up to 371.30.Today it went up to 370.35.So booked my profit and will go long /or short .I may go long if the price comes downto my reversal point so that my SL is small when I reverse.Reward to risk ratio is better with such trades.

 

[GTHELAKKAT]

Hello

CANBK is still long with SL 342 and went long again on RELCAP at 380 yesterday.I could not enter at sl level.

 

[GTHELAKKAT]

hello

CANBK went short on 11/7 at 350 .the loss is 7 points -the position profit is 38-7=31
RELCAP went short on 11/7 at 375. the loss is 5 points.the position profit is now 42-5 =37

 

[GTHELAKKAT]

Hello

today i have reversed my position CANBK went long at 328.Profit is 22 points .Total profits CANBK is 31+22= 53:thumb:
RELCAP went long at 386. loss is 11 points . Current profit is 37-11=26

 

[s0058350]

bro also update ur stop loss

 

[bajica]

Very good Discipline. Hope to see this thread for a long time to come.:thumb:

 

[GTHELAKKAT]

Hello friends
I was planning to close the thread as i was not getting remarks,questions etc .but now i find some people have responded.
The very purpose of this thread is to show how to trade using very basic indicators.I lost more money in buying trading software than i lost in trading.After struggling for 7 long years and losing all now i have come to a stage where I can trade comfortably. Also I want to convey that most trading systems i used are useless and they play with indicators the common indicators are labelled and called different names, and now I trade using PSAR and ADX and MACD.Also I have certain rules when to enter and when to reverse.Yes I dont put a stop loss and close my trade and wait for my reversal signals.
I reverse my trade and is in market always.I see many people go for automated trading systems.remember a software has no intelligence or knowledge about market.I dont place a stoploss early morning and wait for my first bar at 10 AM for placing SL as i follow one hour bars. In fact my stop loss is just a psychological thing and i expect to reverse my trade before the stop loss is Hit. As on today i have 9 different Futures and I am short on all of them.I am always holding these Nine futures either short or long.Tata steel i am short since 17 Jul at 248 and today it is around 202.

now i will update my trade as I am updating 2 of trades
CANBK went short at 309 on 24 Jul -loss is 19 points- profit now is 53-19= 34 points.as on today you can see were we are.I am still short.

Rel capital- Went short at 376 on 25 Jul -loss is 10 points. The profit is now 26-10=16
Now price is 304
As you can see we are in good profits now.I will only reverse and not book my profits now.As our friends are showing interest i will continue for another one month till 31 aug 13.
and i am using PSAR,MACD and ADX and my experience and no hi fi soft ware
Happy trading

 

[GTHELAKKAT]

Hello

I have not updated last two trades.

CANBK is still short.

RELCAPITAL went long at 322 on 8 aug 13. While reversing profit is 376-322=54.Total profit is now 16+54=70

RELCAPITAL went short on 16 Aug at 328. Profit is 6 points.Total profit is now 70+8= 78 points.

I have CANBK still short since 24 Jul at 309.