Walk With Me

brokenbull

Well-Known Member
#12
When you are thinking aloud here ,you should post your musings (long BNF futures /short BNF etc ) always with a chart ,
then only you will get some intelligent responses. Imagine this is a confession booth (but will bring discipline to you) .
If you are 100% confident ,you wont be posting here.
Price action is god. we are just floaters.
I trade (scale in/scale out) BANKBEE ETF based on BN futures.
 
#13
When you are thinking aloud here ,you should post your musings (long BNF futures /short BNF etc ) always with a chart ,
then only you will get some intelligent responses. Imagine this is a confession booth (but will bring discipline to you) .
If you are 100% confident ,you wont be posting here.
Price action is god. we are just floaters.
I trade (scale in/scale out) BANKBEE ETF based on BN futures.
Why always with a chart ? What does confidence have to do with posting here ? Just asking.
Yes price action is GOD for sure and yes we are floaters. I completely agree.

I think of this as a trading diary of my records and thoughts and ideas which is accessible to me from anywhere which others can also access.
 
#14
When you are thinking aloud here ,you should post your musings (long BNF futures /short BNF etc ) always with a chart ,
then only you will get some intelligent responses. Imagine this is a confession booth (but will bring discipline to you) .
If you are 100% confident ,you wont be posting here.
Price action is god. we are just floaters.
I trade (scale in/scale out) BANKBEE ETF based on BN futures.
Dear @brokenbull PLEASE EXPLAIN ABOUT " I trade (scale in/scale out) BANKBEE ETF based on BN futures "
what is scale in/ scale out, how to trade Bankbee etf in dy trade ?

i hope most of them get clarification from your answer...:)

Happy trading.
 

brokenbull

Well-Known Member
#15
Dear @brokenbull PLEASE EXPLAIN ABOUT " I trade (scale in/scale out) BANKBEE ETF based on BN futures "
what is scale in/ scale out, how to trade Bankbee etf in dy trade ?

i hope most of them get clarification from your answer...:)

Happy trading.
BANKBEE etf has no indivual stock risk which are components in Banknifty index.
BANKBEE etf usually trades at a premium ranging from 1.25 to 2,5 above the exact BN price (say BN 35000,Bankbee-between 351.50 to 352.25)
I think market maker use futures & options to replicate the index.so slight carrying cost .(daily trades 5-10 lakh volume..so even 5k-10k Limit order will go thro like butter (not market order.they wil skin you.Just see the daily opening print)
scale in/scale out- is basically buying progressively lager quantity of ETF when Index falls & sell the same way when itgoes up Not waiting for a single price.
BN can drop 1200 points in a day (done that many time ) Next day can follow up with another 1000 points drop.
One should be prepared & must have funds to buy MOAR at lower prices.
Only consolation Bankbee etf not like an option with theta,delta,vix etc working against you.
This is the only stock where I will RTGS to zerodha say 3-5 lakhs & buy "all in at 3.29 pm if BN drops say 1000+points at the close and I have already used full existing amount in CNC buys.. (ofcourse Iam prepared for a another gap open of another 1000 point BN drop & I have funds for next day.)
Tomorrow Iam expecting a BN gap up open of minimum 300 points as Global cues are loking good (But many banks are announcing results tomorrow Axis,Kotak ,Indusind etc. Indusind announced ₹30000 crore QIP (Indus limit down possibly due to diution of exising share holders ).
I have already placed layered 3 GTT sell & 3 GTT buy of BankBee to catch the opening print.
atleat one 3+points up sell order will execute at 9.15am.
one 3 points lower GTT buy is pure luck (some ones sell market a big qty)
At 9.17am I will cancel all un executed (even if triggered)GTT and place normal CNC sell & MIS buy's.
(GTT buys consumes full margin, so use MIS margin during 9.16am-3.00pm for maximum bang for the buck but only up to what I can take delivery)
GTT sell of existing shares same as CNC sell but trigger sell price&sell limit price.only for opening print. not during trading hours.
At 300 pm I will convert all unsold MIS buys in to CNC .Canel all the unsold CNC.

Cash Trading axis bank, ICICI is better bang for the buck. but ETF has no inivual stock risk.
5k-10k points drop in BN is possible in a month .There is no stop loss. if you feel market going down. (since you have cnc dmat stock ) you can sell short MIS intraday & cover back to make intraday profit to reduce the dmat stock loss or settle against existing inventory(convert MIS sell to CNC sell)
BN was at 32000 i(ETF=320) n early may. Then BN went to 37000 (ETF=370)
 
#18
Still holding..Looking to do some swing trades on the Bullish side. There is a decent amount of unused capital which needs to be put to good use.
 

Similar threads

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

Name:Phone:
Email:City:
State:
Are you a day trader?