Nifty Futures Positional Trading

[jamit_05]

Hi, I am not much of a TA ! All that I hv learnt is from two ex members here : uashish and ccmb420 and also current member rkkarnani
rkkarnani had met on line this gentlemen in a chat room ! He and rkk discussed the strategy. As was expected he did not disclose much about it though he clarified a lot about the trades logged in the Excel. And very frankly though I was there listening (reading) to what went on between them, only rkk can elaborate what he said !
His trades today , intraday are : Sell below 5866.80 , then reversed to long at 5881 and is still long ! It NF breaches 5942 and stays above 5937, he will carry the Longs home !
I have requested him to interact with interested members here in the Chat room. He is yet to "join" traderji !

GKPC... You said "I have requested him to interact with interested members here in the Chat room."

Which chat room are you referring to? Does TJ have a chat room?

But, it would be super best for him and us to start a thread. So that he could answer questions at his convenience and of his choice. And plus he would be given the highest respect.

 

[sheoran1]

Thanks GKPC. Maybe you can elaborate what you understood?

Which website chatroom they had this discussion in? Where this trader belongs to? Jaipur/Kolkata/Delhi?

Mr. Karnani, you mind putting in 2 words on your discussion with him?

 

[jamit_05]

sheoran1,

I didn't express my gratitude.

Thank You for the wonderful code. I am sure it must have taken you a good amount of head-scratching. It is a very good and efficient code. I could see that from the little knowledge that I have.

Please stick around. You will make many careers around here.

 

[rkkarnani]

Thanks GKPC. Maybe you can elaborate what you understood?

Which website chatroom they had this discussion in? Where this trader belongs to? Jaipur/Kolkata/Delhi?

Mr. Karnani, you mind putting in 2 words on your discussion with him?

I will post asap whatever I have understood. Please bear with me.

Nothing much did he reveal on Strategy except that he trades 30 minutes charts for taking Positional trades. He is trading lower TF for Intraday 'managing' of his trades !

We were chatting in some site Chat32 ! He is from Jaipur !

 

[rkkarnani]

GKPC... You said "I have requested him to interact with interested members here in the Chat room."

Which chat room are you referring to? Does TJ have a chat room?

But, it would be super best for him and us to start a thread. So that he could answer questions at his convenience and of his choice. And plus he would be given the highest respect.

Gautam did tell him that he could Chat with interested members in Traderji's chat room. I too was confused because I was not sure if we have one ! Later on , on checking I found that our Chat Room was closed for a long time now !
He is not willing to join a forum ! Seems a satisfied soul...

More about the chat soon !

 

[rkkarnani]

Hi,
The gentleman is originally from Bengal now settled in Jaipur. He was associated with Satyajit Ray Film Institute in Kolkata before migrating to Jaipur.
He is using 30 minutes TF chart for Positional trades.
He is managing the open positions Intraday with 15 minutes chart, but EOD closes, carries or reverses the Trade as per 30 min Chart only. GKPC told me that Yesterday he went Long early in the Morning but as the NF closed at his reversal level, he carried the Longs home !
As was evident from Excel, its not always in the trade type strategy. SL is God's command for him.
He exits at his SL and reenters trade and at times in the same Direction as previous one.
About the actual Strategy he only said that he is using a tweeked version of Chandelier's trailing SL method. He uses Trade station Software.
He does not trade Intraday daily, he uses a 15 minutes TF chart for the same. He trades 500 Nifty (10 lots) in Positional and the day he gets a reversal signal he takes position in 20 lots and exits 10 lots EOD the day irrespective of whether it is in loss or profit. Important : When the opening prices are within a certain range of reversal level of his trade he uses the lower TF to enter in the direction of the reversal.
He was avoiding to discuss how the Positional was managed intraday.
His view is what most seniors like ST etc tell us : 01. Be focused. 02. Be disciplined 03. Manage your risk and money ! 04. Do charity and 05. Dont just focus on Earning, also take a break and 'spend' the money also !
One interesting observation by him : Almost all Systems give Money ! Its the trader that matters and not the System! He was using Metastock Previously and claims that all Trading Systems incorporated in it gave profits , all you have to do is after seeing the systems historical results, adjust the MM and RRR !

 

[rh6996]

Hi, I am not much of a TA ! All that I hv learnt is from two ex members here : uashish and ccmb420 and also current member rkkarnani
rkkarnani had met on line this gentlemen in a chat room ! He and rkk discussed the strategy. As was expected he did not disclose much about it though he clarified a lot about the trades logged in the Excel. And very frankly though I was there listening (reading) to what went on between them, only rkk can elaborate what he said !
His trades today , intraday are : Sell below 5866.80 , then reversed to long at 5881 and is still long ! It NF breaches 5942 and stays above 5937, he will carry the Longs home !
I have requested him to interact with interested members here in the Chat room. He is yet to "join" traderji !

There is no Chat room 'here' GKPC, it was closed long back !

Wow ! Holding Longs overnight, this man will make excellent money today! SGX is at 6100 !!
Arre humko bhi milao in sajjan se !

 

[sheoran1]

Hi,
The gentleman is originally from Bengal now settled in Jaipur. He was associated with Satyajit Ray Film Institute in Kolkata before migrating to Jaipur.
He is using 30 minutes TF chart for Positional trades...

Thanks Mr. Karnani! This does provide some help in deciphering his method!

 

[sheoran1]

sheoran1,

I didn't express my gratitude.

Thank You for the wonderful code. I am sure it must have taken you a good amount of head-scratching. It is a very good and efficient code. I could see that from the little knowledge that I have.

Please stick around. You will make many careers around here.

No probs dear! Thanx for appreciation, I had do it again anytime!

 

[rkkarnani]

Sure it would help. The method is very realistic and so is the trader. He has a very focussed attitude. He will trade his system and nothing else.

He has gone 12 days without a single trade. And on the 13th day, he takes an intraday trade. Meaning, he was watching the intraday bars for all of those 12 days... but does not put on a single trade! That alone is very hard to do. Watch and do nothing for two weeks!

The moment I saw the excel I was sure that this trader has at least a decade of experience behind him. These 21 months is the essence.

Amit, No, its not that he went without a trade for 12 days ! We have not understood his Excel probably ! He has not mentioned his Exit dates. It is probably that he continued to hold the position for 12 days. He is not always has position in hand but not sure what has been his longest period without a Trade.
He explained that usually the date you find of next trade is the date of exit too. Maybe exit was a day or two earlier. His trades are not always reversed, on SL being hit, at times the next trade is continued in the same direction. No doubt , he is one very disciplined trader !