COMPULSORY GUIDELINES FOR Successful TRADING IN INTRADAY NIFTY FUTURE
1. Trade in Even lot sizes, i.e. 2 lots, 4 lots, 6 lots etc. as we assume to have 2 targets in most/all calls.
2. Trade with Advanced Limits placed OR Remain in front of the market screen.
3. Trade Daily. Try not to lose any trading day.
4. Trade with Uniform Quantity continuously for at least 1 Expiry.
5. Strictly follow levels.
6. Exit 50% at TP1, and rest 50% at TP2.
6. Exit 50% at TP1, and rest 50% at TP2.
7. Make your Entry Price as your Trailing SL, for the rest 50% position, after TP1 is met.
8. The TRADING LEVELS will apply throughout the day, unless otherwise stated.
9. Usually our SL will be Only 10pts, and TP1 20 pts, and TP2 40 pts. Otherwise, it will depend on the volatility of nifty future.
10. You will receive UPDATES, STATUS, ALERT, INFORMATION, msges during the day.
11. At 3.30 pm, you will receive the gross, and net profit in points for the day.
12.VOLATILITY is good for us, but not VERY HIGH/VERY LOW VOLATILITY.
13. If there are any open/un-suquarred off position nearing the end of the market hours then such position will be exited/squarred off at 03.25 pm and nf price running at that time shall be counted for that day's total profit/loss in pts.
14. The levels, if any will stand cancelled automatically, at 03.15 pm; unless otherwise specifically stated. Meaning thereby no new trades shall be placed after this time. 15. You can put trade within 1 points range of the above/below level. E.g if the msg is to buy above 5000, then you can put buy limit at 5001. We will consider the call triggered as soon as any trade is shown executed in the market at the trigger level of 5000. The logic behind is that the call-type is above-below so placing trade one point above/below increases our confidence in efficiency of call and our entry point as well, as we are not entering at 'at' abv/below level, which will be wrong. Also placing trade only 1 point abv/blw and not 2-3 point will save our profit of those 2-3 points while netting the profit in points. Third logic is chance logic. Sometimes the level is not very efficient or market is not trading properly then the nf may trade 'at' the above-trigger level (in this example, nf will trade at 5000, but not go above it and will not execute trades put in the system at 5001). And then if the nf hits stoploss level, then the trader is spared of the loss. However, we will consider stoploss into our net points calculation once the nf has traded 'at' given above/below level, even if it has not risen/fallen 1 point (the actual trade execution level) from the abv/below level. So, this is also a plus for the traders.
16. Abbreviations/Shortforms-
Nf=nifty future
SL=stoploss
tp= target price
tp= target price
Tp1=target price 1
Tp2=target price 2
Abv=above
Below=below
Met=hit/achieved
Btw=between
Cmp=current market price
Choppy= trading up and down within small range (e.g 40 points or less) in which it is difficult to put meaningful trade with 10 point stoploss and 20 point target as nf is moving both sides and that too in a tight high-low.
Choppy= trading up and down within small range (e.g 40 points or less) in which it is difficult to put meaningful trade with 10 point stoploss and 20 point target as nf is moving both sides and that too in a tight high-low.
Discipline is the key to Professional trading !