iCharts Discussions

[amitagg]

shorted 200 at 5898 avergae cost total = 5805

[amitagg]

i had posted earlier in excel sheet that nifty may rise to 5900 and fall to 5700.....nifty shall fall to test minimum 5750 swing high support.....this is end of rally...when rally ends, bouts of bullishnesss takes it to "small new highs" followed by falls.....market shall fall 200 points from 5900-5950 [without touching 5970]

[amitagg]

todays shorts have averaged 5840 for me....markets shall fall to 5825 IMMEDIATELY IN FEW HOURS

[amitagg]

strong bulls markets GIVES ONE CHANCE ON REACTION..but they also fall 150-200 points from TOP.....i think gaps ups are over...here we shall see sellers coming in and profits being taken on early longs.

READING THE LINE....THE GRAVITY PULL TIME SHALL BE 5750-5813.....anybody can short here or rise to 5930...

note" once reaction comes, and then on next leg market rises, then NO short in bull markets." [assuming bull, may not be, may be just sidewyas now]

[amitagg]

short "here" meant 5885-5900 region

[amitagg]

READING THE LINE - market becoming VOLATILE on one minute chart.......end is very near

[amitagg]

it is THE TIME to short...5897

[amitagg]

sit tight...markets below 5860 with confirm short term bear as per al brooks trading....as i said, 150-200 points dip from top...so 5770-5720 is target....it can take 5-7 days...those who can hold [the shorting plan was titled "NIFTY SEP and Oct"....can get much better profits....Oct shall be 5550-5600.

we shall see when to book profits near 5800 level.....because markets would NOT go down in straight line like earlier.....

[satishkadam]

[amitagg]

Sold 200 at 5950...... i am banking on news on 20th etc.......SL is timeframe and not time....given the fundamentals, etc. dont see any reason for booking at loss.....

realistically stop loss can be at 6050...in MY early NIFTY excel sheet i have mentioned

- sep & oct
- mentioned 6022 possibility based on 3 TAs

hence, just like lows should not be sold, extreme buys should NOT BE BOUGHT...EVEN AT SL....that has to be the trade though we may not like it........there are various traders in different time frames, but since markets are unpredicable, LOSS should not be booked...by those following....u shall GET better levels by 10-15 Oct...result coming etc.

i could have traded in and out and have trailing stops for shorts at higher levels sold and booked at least those at profit...but i am waiting..

also not that market allowed one to get out...yesterdays' shorts could have been sold at 5860 today...the first support.

but pls wait.....just the stlye may not match to your expectations....but ultilising the FALSE rallies CAN BE HIGHLY PROFITABLE OVER THE 2 MONTH HORIZON.....all bad results, tapering fears shall come back........this is the nature of market.....people get jittery at lows and bottoms

[kishjk7551]

[amitagg]

got it man....but see from beginning what i had mentioned:

- one it was Sep AND OCT trading plan
- two i had technicall mentioned why 6022 region was also a possibility
- three i had mentioned 5930 as reserve shorting area

i amd EXACTLY sticking to that....

its not i enticed anybody to short not knowing they have to add later on....

also this is the NATURE of market, having OR NOT sufficient M2M would NOT make the difference...if you are wrong , even M2M shall go away.....put we need to understand the climate, technicals, internals [how shorts trapped, etc.] and then trade.

so u would see two things - I HAD WRITTEN UPFRONT EVERYTHING.....two, only time would tell who is right or wrong...time by expiry of Oct 13.

[amitagg]

further to below post, reextracing from post in Sep futures thread for completeness for anyone reading:

Posted: 11 Sep 2013 15:35 Post subject:

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however hard we may find a justification to reject this type of trading,.....but we have to trade...then only "profits"......vertical rise etc....history tells this is top....one can make past analysis and compare...except in 1 occasion i guess of thereabouts, 600-800 nifty points have to give way on downside [min 150-200 points even in case of sideways reaction]....note i am banking on ONE break of support....5860..then 5720 will come......markets are currently targetting inverse H&S, tops trendline resistance etc.. at 5970. i may then square of at 5770-5800 parts.

so i am not bothered till the trade is closed. holding on.........again it becomes reading the market.

Independant TA analysis would not get anybody to buy now...right ...so no Sl at this point...SL is open.

[rk_a2003]

[amitagg]

Yes RK Sir, I would also not wait above 6050 (twin closing).

Just one more thing - WE ALL TRADE PRICE, WE IN INDIA DO NOT TRADE CALENDER (on time trade for options eg:) why don't we give a SL with respect to "time" doubled with money SL or as you mention automatic M2M trigger.

Why not we form a view based on both time and price...why only price.....

My trades - average 5825 - 5800 (today NF touched 5850). Why not everyone..see only points 25 difference... Why not note that this has happended today"...so why not u are giving my trade "more time" ..just one day???

Pls its most difficult to have a one sided mindset (we need to trade same side in leveraged trades till 2 stops are hit, first was 5850 my first target and next is 6022 ...so waiting till 6050 for whipsaws...that's very simple

Once trade is completed - I shall understand my shortcomings LIVE....I again say often "professionals" make money becuase though we understand market right, timing is not perfect and we need "time" for our rescue not price....also I am here with you all...not running way..once we spend 10-15 months together either u shall understand OR ME...it shall help both of us