Trading Bank Nifty Future on 5 Minutes TF

[PartTime_Trader]

Hello

My track record with maintaining a trading diary is not good . Anyway, here's my one more attempt at doing it :thumb:

Even though I am using a 5 minute chart for trading Bank Nifty Future, my trades are more like swing trades i carry a part of the position overnight. My current trade is holding long from 12410 (14/12, 11:40 AM breakout bar)

As the initial position is long, today intraday was looking for only long trades, so far no trades today. Might get out of this long below the current lows made today.

Thanks

 

[PartTime_Trader]

 

[PartTime_Trader]

_SECTION_BEGIN("Price Plus");
SetChartBkColor(colorBlack) ;
Plot( C, "Close", colorDefault, styleCandle);  
Len = Param("Len",18,2,90,1);
Shift = Param("Shift",6,0,10,1);
m = MA(O,Len);
mc = IIf(m < Ref(m,-1), colorLime, colorBlueGrey);
Plot(m,"",mc,styleThick,0,0,Shift);
Plot(m,"",mc,styleThick|styleDashed|styleNoLabel|styleNoTitle,0,0,Shift-2);
_SECTION_END();

 

[PartTime_Trader]

Hello

I do not use the moving average for trading signals,
however the MA lines give a nice visual feel to the price action

I use the displaced MA as it gives a nice support when the price is trending
and thus is help in holding / adding when in a good trending move.

Thanks

 

[PartTime_Trader]

BNF is short from 12460

 

[PartTime_Trader]

Stop almost got hit (at today High 12525) by freak high made on 10:55 bar (around 12500),
limit order for scaling out 50% position also got filled in, on 11:05 bar

support from 14/12 daily open around 12250 comes into play now.

 

[PartTime_Trader]

as i was posting the previous post stops for rest 50% also hit 12380 . . .

freaky price action today

 

[gurmy.]

as i was posting the previous post stops for rest 50% also hit 12380 . . .

freaky price action today

it is due to RBI credit policy today

 

[PartTime_Trader]

it is due to RBI credit policy today

Thanks

Seems from the price, no change in policy, so nothing happened except for eating deep stops of long positions

planning to re-establish short below 12360, will take long above 12530, the current bias seems to be Up...

anyway for now, does not seem we will get either of it today, more than 50% of the days volume coming in that 10-15 minutes around 11 am

 

[gurmy.]

yes current bias is up

market recovered quickly after somewhat negetive RBI policy

if nifty could sustain above 5900,we may see 6000 in this series

thanks