Monday, June 09, 2008

Infy double top+wolfe wave tgt 1700 below 1850 sl 1920/2000

Timepass trading


Check out http://www.gcitrading.com/
you get a cfd/share trading demo totally free for 30 days. anyway fun part is live rates and trading practice! Sophisticated traders might actually want to consider a full fledged account so they can hedge their positions in the indian market against just about anything!!
commodities? exchange rates? global markets?
If you guys know of any other such international brokers who will let one trade in a wide range of instruments leave a comment.
I didn't fully understand the interest cost in gcitrading , it was only levied on crude positions and not on other positions.

What i really want to do is get a full fledged automated trading account.
put in 10 lakhs in it. And double my capital every year :D.
I know I have the skills to write the code for trading systems which can do this even after accounting for ridiculously high slippage and poor execution.
What I seem to be lacking is the discipline to follow my own systems at times.

ex. on friday i had 3 short setups ntpc/jpassociates/relcap i took only one...
needless to say didn't make much.

Sunday, June 08, 2008

Market morning call

http://stquote.sgx.com/live/dt/DTFuture.asp?INFE
http://finance.yahoo.com/intlindices?e=asia

I believe today's gap down will be retested on wednesday morning most likely with a gap up.

Random conversation, people will keep asking me the levels so i figured i'd post it in one place.

[15:23] rajak1981: S&P CNX NIFTY, :6/6/2008 2:53:59 PM
Close: 4656.65
T1: 4494.33 T2: 4341.83
T3: 4093.01 1xR: 4330.55
Tech Target: 4117.5
Narrowsl: 4,743.15
WideSl: 4,871.06
SwingHigh: 4,956.2 Stoploss: 4,743.1
SwingLow: 4,536.9 CMP: 4,656.6
ImpulseTargetZone :3940.5-3691.68
Lower Chan: 4498.66 Upper Chan: 4720.05
SupportLine: 4720.05 ResLine: 4485.04
2xAtr14Stop: 98.3549
TrailingSL: 4,714.85
[15:23] rajak1981: buy at t1
[15:23] rajak1981: buy at t2
[15:24] rajak1981: buy at t3
[15:24] rajak1981: investing perspective
[15:24] rajak1981: trading can short for the targets from 4540 region , don't short the gap down
[15:24] rajak1981: most bullish case which bears cannot see right now
[15:24] rajak1981: is 4494-4500 area holding out
[15:24] rajak1981: i.e no new lows
[15:24] rajak1981: most bearish case which bulls will not see right now
[15:24] rajak1981: is all the way till 3600
[15:25] rajak1981: i'd say consensus is 4000k area could be tested

my view?? 33% t1, 33%t2, 33%t3
all equally likely.