iCharts Discussions

[athani]

Dear All,

This is just to get the members opinions about the trailing Stoploss strategy for Nifty Futures in 5-min chart.

Until now, I have been of the opinion that once your Nifty position is in a 20 point profit, then you should not let the profiting position turn into a loser, irrespective of your targets. So you should you move your SL to breakeven.

Please see the enclosed chart dated 3rd november of NF 5-min.

Short position entered at 13:05 at 4698 was in profit at 4678 after 2 candles, so moved SL to 4700 at 13:15. Stopped out at 13:25 and NF went on to targets.

What strategy would you suggest to avoid this kind of situation, which has now started repeating again and again with me ?

Regards,
Athani