Wednesday, April 29, 2009

Trend turns down (finally !!!)

Whew.. finally my system says its time to book profits and go short. It might be wrong, but in that case will get stopped out when the time comes for a small loss. These whipsaws will happen, and happen a lot, but its huge moves like the one we saw is what I am playing for.

Have closed the position yesterday(28th April) in last 15mins at 3370. We had gone long in March when Nifty was at 2710. There was also the rollover cost of selling March futures at 3080 and buying April futures at 3090. Thus net profit is 3370-2710-10 = 650 points for this long trade.

Interesting point if you will notice is that my last post was written 20 days back, and at that time nifty was at 3360, and yesterday i closed the position at 3370. So effectively in 20 days Nifty has hardly moved from where it was. I intend to form a table soon , where in the trade details can be regularly updated and can be seen at one glance.

So that's it from my side. Its short as of now.

Wednesday, April 8, 2009

8th of April - Continue to be long in Nifty futures

That is the beauty of a trade setup which aims to catch the big trends. If you stick by it, you will get onto the big trends and ride them up or down whichever direction & make enough money to wipe out losses from a few whipsaws & have a decent profit.

So well my system is still long, been so since 13th of March, went long near 2710, its closed at 3360 today. Thats a gain of over 600 points. Not booked though, so might end with less or more, lets see. But the point is that the system works if you follow it blindly and with faith.

Anyways, its long for now. Will keep posting updates.