Set and Forget - Index Futures Break out

ag_fx

Well-Known Member
#1
Hello,

I've worked hard towards setting up an index futures system that trades on Nifty and BankNifty Futures. It is a breakout system that I intend to document here everyday. It only takes 10 minutes of time in a day. 5 Minutes in morning to punch trades with SL and 5 minutes near EOD to close out any open trades.

Some of the features of this system are:
1. Purely Intraday - Exit all positions by 15.15-15.25
2. After the breakout levels are decided, trades are placed with decided SLs.
3. No Targets or Trailing SLs - Either exit at pre-set SL or End of Day


FAQs
1. What to do if market opens with a gap and beyond your Buy/Sell triggers
Ans - In this post

2. How many trades are executed in a day/week?
Ans - This is a super selective system. It only trades 6-8 times a month.

3. What is the biggest challenge for your profitability?
Ans - In my experience, sitting on the side and doing nothing. When we as traders enter the market, we come with a mindset of having to trade everyday. Every time we are testing a new system, we want to be able to capture each and every move. However, the biggest money in the market is made by sitting on sidelines when not sure. It is like being a SNIPER and waiting for a perfect moment to take the shot. Over the years, I have tried to hone my skill of not messing with a trade once it is in. That's why I developed this system - to Set and Forget


Here are the past 2 days of Trades

26-May-2020
BankNifty:
Buy at 18000, SL at 17900
Sell at 16725, SL at 16800
Nifty
Buy at 9275, SL at 9225
Sell at 8825, SL at 8875

Result:No Trade Triggered
 
Last edited:

ag_fx

Well-Known Member
#2
27-May-2020
BankNifty:
Buy at 17725, SL at 17625
Sell at 17300, SL at 17400
Nifty
Buy at 9175, SL at 9125
Sell at 8915, SL at 8960

Result:
BankNifty Buy Triggerred @17725, Exit at 15.20 at 18740 - Net: + 1023 Points
Nifty Buy Triggerred @9175, Exit at 15.20 at 9320 - Net: + 145 Points
 
#6
Please support your calls with trading logic. Here that's what we are interested in. Simply posting trading calls/levels is considered spam and likely to invite coercive action.
 

ag_fx

Well-Known Member
#7
Please support your calls with trading logic. Here that's what we are interested in. Simply posting trading calls/levels is considered spam and likely to invite coercive action.
I am not looking to post the trading logic. It is private and something I’ve come up after lots of research and hard work. This is a trade journal and not a spam thread. If I am breaking any rules of the forum, happy to discuss and revert any changes.
 
#8
I am not looking to post the trading logic. It is private and something I’ve come up after lots of research and hard work. This is a trade journal and not a spam thread. If I am breaking any rules of the forum, happy to discuss and revert any changes.
1. What is the amount of back testing you have done to arrive at your system.

2. How do you handle overnight gaps,
say instead of 19700 ur buy level was 18700,
today BNF opened at 18816 (with low of 18750)

Would you chase it or skip the trade?

.
 

marimuthu13

Well-Known Member
#9
1. What is the amount of back testing you have done to arrive at your system.

2. How do you handle overnight gaps,
say instead of 19700 ur buy level was 18700,
today BNF opened at 18816 (with low of 18750)

Would you chase it or skip the trade?

.
Brother, he mentioned its Intraday trades... he will close open positions at 3/3.15 PM
 

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