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Trading With Pivot Points |
kanna
White Belt
Joined: 03 Jan 2010
Posts: 91
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Post: #46  Posted: Thu Oct 14, 2010 1:05 pm Post subject: |
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ok ravi. got it.
thanks anand for confirmation
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #47 Posted: Thu Oct 14, 2010 6:28 pm Post subject: |
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Today was a bad day .... not for the system but for me ... because the mind ruled over the trade setup ...
As NF opened above R1 ...I rolled over the trade to buy with SL at R1 ... though initially it was good at the end it went on to give me another SL of 30pts....
So instead of a profit (unrealised) of 60 points currently sitting at a loss of 60 pts ... lets wait for 6150 
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #48 Posted: Fri Oct 15, 2010 10:25 am Post subject: |
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6150 achd...5%in 2 days
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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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| Post: #49 Posted: Fri Oct 15, 2010 8:12 pm Post subject: trading with pivot points |
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Mr.Pandey,
Nifty 5%----more than300pts but as per your strategy tgt is 100 pts am i correct.
chandru.
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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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| Post: #50 Posted: Fri Oct 15, 2010 8:52 pm Post subject: trading with pivot points |
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Mr.Pandey,
Nifty 5%----more than300pts but as per your strategy tgt is 100 pts am i correct.
chandru.
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #51 Posted: Fri Oct 15, 2010 9:57 pm Post subject: |
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Dear Chandru
As updated in my first post ... i keep a margin of rs.1 lac per nifty lot ... so a 100 pt move will gv me rs.5000 ... which is 5% ...
After that it doesnt matter whether nifty moves 200-300 pts ... next trade will be around the PP .... i shall update as and when reqd...
Regards
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #52 Posted: Mon Oct 18, 2010 10:20 am Post subject: NIFTY-PIVOT |
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CP, Weekly S1 has been tested already (See the attached weekly Chart of NF) and NF has just taken support at 5 ema weekly..... What would be your strategy? Can we take a long position here with a SL below S1 or wait?
Regards
Ravi
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #53 Posted: Mon Oct 18, 2010 10:43 am Post subject: |
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Hi ravi
weekly trading with pp is no different than monthly...we just need to modify few things.
1. SL at 20 pts from your entry level
2. Tgt at 50 - 60 pts
3. SL is hourly candle close basis.
4. Entry also is candle close basis
5. Dont forget reversal of positions except on fridays as pp changes
6000 is S1 weekly...trade basis above mentioned rules...
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #54 Posted: Mon Oct 18, 2010 1:28 pm Post subject: NIFTY-Pivot |
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| NF has given a good 60 points from 6007... (Weekly S1)...
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #55 Posted: Mon Oct 18, 2010 2:55 pm Post subject: Re: NIFTY-Pivot |
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Bulls on a rampage.. Would we see 6157 today (PP)
| Ravi_S wrote: | | NF has given a good 60 points from 6007... (Weekly S1)... |
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #56 Posted: Mon Oct 18, 2010 3:18 pm Post subject: |
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Hope everyone made 60 points ... now its time to wait for trade near PP ...
Profits: 3%
Regards
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #57 Posted: Tue Oct 19, 2010 3:09 pm Post subject: |
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Look how beautifully NIFTY is oscillating between the weekly pivot and support.
Pivot Point - 6162
Support 1 - 6006.13
Regards
Ravi
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #58 Posted: Tue Oct 19, 2010 7:36 pm Post subject: |
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YEs Ravi
Weekly levels are equally important. If you draw a line connecting Daily/Weekly/Monthly PP you will get to know important support resitance zone and also in counter trend where can we book profits.
Thanks for pointing it out
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #59 Posted: Fri Oct 22, 2010 8:38 am Post subject: |
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6160 is the weekly Pivot Point ... any hourly close above that is good for bulls... one can look at going long but for a small profit as we are at the end of the week ...
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #60 Posted: Mon Oct 25, 2010 10:38 am Post subject: |
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Hi
Mkt trading near weekly R1 ... wait for an hourly candle close below/above R1 & take your next position. If you go long then SL should be CC below R1 & vice versa.
Please discount a doji kind of candle close & wait for one more hour ... I shall update you with tgts once I take my positions....
Regards
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