NIFTY Futures Mechanical Trading

[sachin.sonu]

NIFTY FUTURE For October 29,

Current position : LONG (at 5479 on 25/10/2007)

Support : 5573
Resistance : 5728

Hold LONG positions with SL 5573. If trades below 5573, exit LONG & go SHORT with SL 5728

Vinod

Hi Vinod,
you are doing excellent job.. I have one query please answer it as I have just started learning about F & O..

I have not understood "If trades below 5573, exit LONG & go SHORT with SL 5728"

So if its trading below 5573 we will sell off so how can we put stop loss of 5728..
Please reply

regds
sachin

 

[nadodav]

hi Robin,

yes pivot points are widely used almost everywhere not only in forex but also in futures trading, commodities trading and with all time frames. i initially started with pivot points only. pivot point is one of the component in my current model. some time you find similarity with pivot points support and resistance and some time entire different set of levels. The important thing is to have trust and faith in the model that you follow. I think which model to follow is also not that much important. Important thing is to stick to the strategy that you are following. As long as your strategy generates money, you should keep following. And this is the only way to build-up wealth in futures trading.

Vinod

HELLO MEMBERS
I THINK THE WAY THE RESISTANCE AND SUPPORT LEVELS ARE CALCULATED SHOULD B SOMETHING LIKE THIS
Pivot point = P = (H + L + C)/3

First area of resistance = R1 = 2P - L
First area of support = S1 = 2P - H

HERE H=HIGH FOR THE DAY
L=LOW FOR THE DAY
C=CLOSE OF THE DAY
THIS IS PIVOT POINT SYSTEM OF TRADING USED IN FOREX TRADING. I M GETTING PRETTY CLOSE VALUES. VINOD SIR PLEASE CORRECT ME IF I M WRONG.

AND YES I BACKTESTED THE SYSTEM. ITS WORKING FINE. ONE SUGGESTION IF U APPLY THE LEVELS FOR THE CLOSING OF THE DAY U WILL GET MUCH MUCH BETTER RESULTS. TRY IT OUT.

REGARDS
ROBIN

 

[nadodav]

hi sachin,

It simply means that, our current positin is LONG and if nifty futures goes below 5573, we close our LONG position and open SHORT position at same time. Now we will hold SHORT position with SL 5728 for that day means on same day if market rebounds and goes above 5728, we will exit SHORT at 5728 and now we go LONG with again SL as 5573 for that day only. Please refer my 1st message where i have explained in detail and also download attachment (Nifty Fut.xls) from my 1st message to understand.

pl get bak if you have any doubts.


Vinod

Hi Vinod,
you are doing excellent job.. I have one query please answer it as I have just started learning about F & O..

I have not understood "If trades below 5573, exit LONG & go SHORT with SL 5728"

So if its trading below 5573 we will sell off so how can we put stop loss of 5728..
Please reply

regds
sachin

 

[nadodav]

NIFTY FUTURE For December 13,

Current position : LONG (at 6010 on 11/12/2007)

Nifty Fut Closed at : 6189.05

Profit/(Loss) in current trade : +179.05 (as per last closing price)
Net Profit / (Loss) since thread started : +316.05 (137.00+179.05)

Support : 6074
Resistance : 6206

Hold LONG positions with SL 6074. If trades below 6074, exit LONG & go SHORT with SL 6206.

Happy Trading !

Vinod

 

[marcus]

Hi Vinod,


A big thanks for explaining your system, can you tell us how long you've been trading the system and the statistics for that period, winning percentage, max drawdown , net profit, and CAR?

 

[robin027in]

Hello Mr Vinod And All Members
I Would Like To Appreciate The Initiative And Effort To Start And Continue This Thread. This Thread Has The Potential To Become A Leading Platform For Learning And Sharing The Knowledge Of Nifty Future Trading Where New Members Can B Nurtured And Cautioned About The Traps Of The Market. At The Same Time We Can Come To The Common Conclusion Of The Most Effective Way Of Trading.

Over A Period Of Time However I Found That The Aim And Potential Of This Thread Is Gradually Diluting.if Discussions , Doubts And Their Clarifiacations Are Not Forthcoming This Thread I Fear Will B Reduced To A Place Where Mr Vinod Will Give The Levels And The Rest Of Us Will Just Read And Follow.

At This Point I Will Request Mr Vinod To Please Intervene And Clarify The Aim Of This Thread.

Mr Vinod I Will Again Request U To Please Clarify That "how Are The Levels Calculated" And What Other Factors Do U Take Into Consideration Other Than Pivot Points? In Case U Do Not Wish 2 Divulge The Same Please Mention It. My Reservation In That Case Will Only B That New Members Will Not At All B Benefited By Ur Experience And Will Get Into Being Dependent Forever.

As Far As My Wish To Contribute Goes:
I Had Tested The Pivot System For Each Day Since Nov 2004
A Few Observations(...suggestions):
1) If We Take The Levels And Apply It To The Days Closing Price( Rather Than Changing The Posns Intraday) No Of Loss Trades Reduce Considerably.
2) In An Uptrend We Should Not Take The Short Posns(we Should Just Exit Our Longs Whenever The Support Is Breached At The Closing And Then Wait For The Next Buy Signal That Is When The Resistance Is Breached)we Can Avoid A Lot Of Loss Trades.

Regards
Robin

 

[Mahendra kumar]

Hello Mr Vinod And All Members
I Would Like To Appreciate The Initiative And Effort To Start And Continue This Thread. This Thread Has The Potential To Become A Leading Platform For Learning And Sharing The Knowledge Of Nifty Future Trading Where New Members Can B Nurtured And Cautioned About The Traps Of The Market. At The Same Time We Can Come To The Common Conclusion Of The Most Effective Way Of Trading.

Over A Period Of Time However I Found That The Aim And Potential Of This Thread Is Gradually Diluting.if Discussions , Doubts And Their Clarifiacations Are Not Forthcoming This Thread I Fear Will B Reduced To A Place Where Mr Vinod Will Give The Levels And The Rest Of Us Will Just Read And Follow.

At This Point I Will Request Mr Vinod To Please Intervene And Clarify The Aim Of This Thread.

Mr Vinod I Will Again Request U To Please Clarify That "how Are The Levels Calculated" And What Other Factors Do U Take Into Consideration Other Than Pivot Points? In Case U Do Not Wish 2 Divulge The Same Please Mention It. My Reservation In That Case Will Only B That New Members Will Not At All B Benefited By Ur Experience And Will Get Into Being Dependent Forever.

As Far As My Wish To Contribute Goes:
I Had Tested The Pivot System For Each Day Since Nov 2004
A Few Observations(...suggestions):
1) If We Take The Levels And Apply It To The Days Closing Price( Rather Than Changing The Posns Intraday) No Of Loss Trades Reduce Considerably.
2) In An Uptrend We Should Not Take The Short Posns(we Should Just Exit Our Longs Whenever The Support Is Breached At The Closing And Then Wait For The Next Buy Signal That Is When The Resistance Is Breached)we Can Avoid A Lot Of Loss Trades.

Regards
Robin

Y
es I agree with u.Trading with 150+points stoploss levels is not a good trade in nifty future.

 

[nadodav]

Will reply your queries in a day or two.

Vinod

Hello Mr Vinod And All Members
I Would Like To Appreciate The Initiative And Effort To Start And Continue This Thread. This Thread Has The Potential To Become A Leading Platform For Learning And Sharing The Knowledge Of Nifty Future Trading Where New Members Can B Nurtured And Cautioned About The Traps Of The Market. At The Same Time We Can Come To The Common Conclusion Of The Most Effective Way Of Trading.

Over A Period Of Time However I Found That The Aim And Potential Of This Thread Is Gradually Diluting.if Discussions , Doubts And Their Clarifiacations Are Not Forthcoming This Thread I Fear Will B Reduced To A Place Where Mr Vinod Will Give The Levels And The Rest Of Us Will Just Read And Follow.

At This Point I Will Request Mr Vinod To Please Intervene And Clarify The Aim Of This Thread.

Mr Vinod I Will Again Request U To Please Clarify That "how Are The Levels Calculated" And What Other Factors Do U Take Into Consideration Other Than Pivot Points? In Case U Do Not Wish 2 Divulge The Same Please Mention It. My Reservation In That Case Will Only B That New Members Will Not At All B Benefited By Ur Experience And Will Get Into Being Dependent Forever.

As Far As My Wish To Contribute Goes:
I Had Tested The Pivot System For Each Day Since Nov 2004
A Few Observations(...suggestions):
1) If We Take The Levels And Apply It To The Days Closing Price( Rather Than Changing The Posns Intraday) No Of Loss Trades Reduce Considerably.
2) In An Uptrend We Should Not Take The Short Posns(we Should Just Exit Our Longs Whenever The Support Is Breached At The Closing And Then Wait For The Next Buy Signal That Is When The Resistance Is Breached)we Can Avoid A Lot Of Loss Trades.

Regards
Robin

 

[nadodav]

NIFTY FUTURE For December 14,

Current position : SHORT (at 6074 on 13/12/2007)

Nifty Fut Closed at : 6066.60

Profit/(Loss) in current trade : +7.40 (as per last closing price)
Net Profit / (Loss) since thread started : +208.40 (201.00+7.40)

Support : 6018
Resistance : 6140

Hold SHORT positions with SL 6140. If trades above 6140, exit SHORT & go LONG with SL 6018.

Happy Trading !

Vinod

 

[nadodav]

I will post result of last 12 months within a week

Thanks

Vinod

Hi Vinod,


A big thanks for explaining your system, can you tell us how long you've been trading the system and the statistics for that period, winning percentage, max drawdown , net profit, and CAR?