iCharts Discussions

[paa]

hmpatil
If you are long then sell call. if short sell puts. this way you can carry your trade & profit

[galrani]

HM Patilji
Sorry did not understand your query?
If you book full profit, how can you still be in trade?
Do you mean partial booking profit?

The only strategy I can think of is to buy protection using options.

Cheers
Shiva

[hmpatil]

Dear Galraniji
What I mean is suppose i am long & as i would be in the profit but in some situation i know that if i wait for reversal then my whole or part profit will be gone in that case what should be done?
Regards

[galrani]

You are talking of discretionary exit
I follow my system and stick to it till it says me to exit.

But if you feel that you have enough profit and dont want to lose what you have made, you can exit. But then dont feel bad if the market goes further and you miss out on more potential profit

more than losing the profit you have to understand the reason why you feel strongly to book profits? Is it because you are over trading? or maybe due to past experiences where you have seen paper profits evaporate suddenly.

My suggestion is 1. Stick to your system. 2. If you cannot, then book half quantity, and wait for booking further 25% and another 25% on predefined levels.

Cheers
Shiva

[hmpatil]

Today at the end crossover initiated so now we are in long position, right?

[bharatpatel]

[galrani]

Hope you are not joking.

Crossover is at around 10800.

Hold on tight to your shorts (both in the market and physically the ones that you are wearing)

[druzva]

Dear Galrani,

it is a good method and will always give money. But it has to be traded for long time and one has to evaluate the success of this system on quarterly and six monthly basis or may be yearly. However if a trader has diaper syndrome ( 10 points move against his / her position and feel like wearing diaper) should avoid this trading method. This method will also not give you pleaser of order punching every day.

But it is an excellent system one can trade and make money.

Runy

[hmpatil]

I am trading in this months nifty future & cross over initiated in it,

[Gemini]

May be you are using 15 min timeframe. On daily TF crossover is yet quite far.

[galrani]

Diaper Syndrome -

Hilarious !!

Going by this definition, maybe I have constipation syndrome

Cheers

[hmpatil]

I am using 60 min. intra day time frame. I gather strategy is supposed to be looked upon at 9.30 am & 3.00 pm. every day?
Regards

[bharatpatel]

Dear patil,

As we all know this strategy is designed for daily chart and we use eod data then why you try to customize it ? It will give you whips and charm of system will be lost.

[galrani]

3x5 on 60 min could be too volatile!! You may be getting 2 or even three signals in some days.

In 60 mins TF I would suggest you to look at 8x34 and take entry below / above the signal candle.

This gives good results. If you are ok with some whips then even 5x20 gives good results.

Cheers
Shiva

[bharatpatel]

shorted bank nifty @10218 with stop of 10271