Nifty Futures Intraday Trading Report September 27, 2011


Trailing stop loss ruined the fun on this day. But then, it is an effective tool. Not everyday will the market fall slightly and then rush back to the higher price levels – like it did today. Likewise, the gap up opening price of the contract was also something which spoiled the mood. The Nifty futures started trading approximately 30 points up from yesterday’s closing price.

The initial trade was a short in between 4930 and 4920. After showing a promising temperament for sometime, this trade failed. I went long above 4930. This trade hit the trailing stop loss which I had placed at 4960.

I did not take any additional positions for the rest of the day since (a) Within 45 minutes the markets will be closing (b) I could be buying at the top and if the price fell I will be in losses (c)  Selling at those price levels would also be pure gambling because the trend for the day was bullish; any time the market can rise 20 points while thrashing the high price which was already set for the day.

The rogue movements in the EUR/USD pair has been my concern since some days. I get a perfect entry point. However, I am unable to close the trade with profits because of the volatile nature of that market. Else, the defining move will take place late night – during the time when I rest for the day.

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2 Responses to Nifty Futures Intraday Trading Report September 27, 2011

  1. It was a awe-inspiring post and it has a significant meaning and thanks for sharing the information.Would love to read your next post too……
    Thanks
    Regards:
    Intraday Tips

  2. Thank you so much for this! I haven’t been this moved by a blog for a long time!I am waiting for your next post too.
    regards:
    Intraday Tips

  3. Armando Pena says:

    I’d be curious to hear how big of a trailing stop you use. I trade multiple emini contract and like to use a trailing stop on the last contract.

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