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
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
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