iCharts Discussions

[Alchemist]

NF closed yesterday at days highs 8987 so the 50% NF longs held are in 157 points profit.

8800 PE bought to hedge at 150 are at 85 so that has offset the profit by 65 points so net net NF longs still in 92 points profit.

I will exit the puts whenever mkts fall back to 34 EMA ....if mkts don't fall to 34 EMA and keep rising ... these puts will be hardly of any concern to me..

With this ... Feb has closed with 700 odd points profit based on simple 5/34/200 Yorker trades.

I hope I have proved to pvktrade that trading isn't that difficult.

Cheers
SH

[opportunist]

Alchemist bhai,

Zabardast method hai as evident in the attachment. Loss ki gunjaish bahut kam hai. That 5/34 EMA exit rule was the masterstroke nahi to bahut losses hote hai. Remember ? In the beginning I had egged you for a profit taking crossover, otherwise you had that 50 points pe half lots profit rule.

Anyway, ab yeh pakki hai ki naukri chhodne se bhukha nahi maroonga.

Regards,

Oppo

[nelson soibam]

hi alchemist
good evening sir
if i want hedging with option ,how many lot are required for 2 lots of nf

with regards

[Alchemist]

[pvktrade]

Alchemist,

I was out on customer visit and not able to update trades. Thanks for updates and keeping trades moving. You have clearly shown that if we hadle these rules strictly we can make good money.

I think addition of close above/lower of high / low of cross over candle for entry and exit will reduce whipsaws. Is this right?

One more question, when we are saying RSI divergenses which parameter we are using RSI(14) 70, 30 as limits or anything else. Do you have any other indicator for reference?

Thanks again.

[Alchemist]

Welcome back pvktrade - hope you can continue to update the thread now.

high/low is to reduce whipsaws yes.

RSI is standard 30/70 parameters with period 14

Cheers
SH

[Alchemist]

NF at 9115 means longs are in 285 points profit. 34 EMA has not come yet so 8800 puts still held at 37 now.....

RSI is overbought on 30 mins now so reversion to 34 EMA possible ...selling 9100 CE at 131 to hedge...

Cheers
SH

[snehil2010]

You already bought 8800 Pe to hedge, whats the need to sell 9100 CE?

[amitagg]

[snehil2010]

Hi Alchemist,

Have you squared off your long position? I see 5 EMA crossed below 34 EMA on 30TF.

Thanks,
Snehil

[Alchemist]

[Alchemist]

Today, 5 EMA stayed below 34 EMA but above 200 EMA so still in no trade zone as per the system.

Wait for 5/34 bullish crossover or 5/200 bearish crossover to open new trades in nifty future.

I just took a risky trade by selling 8800 PE at 63 today after I saw 200 EMA supporting nifty spot (and because EOD is still bullish yorker)..... it was trading at 50 before markets closed.

Happy Holi to all !

Cheers
SH

[MOHANTY]

[katariajs]

Dear Alchemist,
Can this strategy be applied on Bank Nifty too?

[Amitsh27]