The Last Trade on Nifty Shorts - A DECMA2023 Strategy
-
Gratitude to all the participants of DECMA2023 who are following my Heikin Ashi Strategy.
My motto in developing trading strategies is to #KeepItSimple. I'm glad that some of the DECMA2023 participants are following my Heikin Ashi strategy and coming up with different time-frame ideas, we discussed them in detail.
The Last Nifty Short Trade of 719 points
The reason I'm writing this today is to highlight the last trade of over 700 points in Nifty Futures short.
I have no shame in admitting that my discretionary style was unable to catch this fall, but discipline and confidence in the Heikin Ashi system helped me to profit from the recent decline. I watched the decline unfold without any short trades in my discretionary view. Yes, you read it right, not a single short trade in my discretionary view.
Here is the trade as per the HeikinAshi System (refer chart below):
-
Went short on 18th October 2023 at 19,730 in October Futures.
-
The open position was rolled over to the November series at a premium of 100 points. Net Sell Price is 19,830.
-
The stop-loss triggered today at 19,111.
This trade resulted in a profit of 719 points.
The Heikin Ashi strategy is a simple and effective way to trade. It is a disciplined approach that can help traders to avoid emotional trading and to make consistent profits.
I want to emphasize the importance of discipline and confidence in trading. Even though I had no discretionary short trades in this case, I was able to profit from the decline because I had confidence in the Heikin Ashi system.
If you have doubts about the Heikin Ashi strategy, feel free to connect.
-
-
Interesting,
Sir, where and how can we learn more on this strategy, Unfortunately I was not able to attend DECMA 2023.
Please guide -
Sir would this be Stop and Reverse, I mean today would we go long as there are no double wicks or wait for the follow through day. Thank you
-
Interesting. Thanks for sharing. Do you suggest using any indicator (SuperTrend / MA) to reduce whip-saws during sideways phase ?
-
@Purav Choksi HUF Yes it went long at 1:15pm.
-
@Brijesh Bhatia Can you explain this strategy in brief as I did not attend DECMA 2023.
-
@Brijesh-Bhatia Sir! Can you explain the strategy? I wasn't a member of Definedge when DECMA 2023 happened.
-
@Brijesh Bhatia too good, looks like a great setup, have done some backtesting on it after DECMA,, thanks for sharing your knowledge, this last one was a great trade and I have been observing your trailing SL method, it looks good on all momentum strategies. thank u once again.
For me, this was the best takeaway from the whole event. -
@Pavan Talwani Will check with Definedge Team and update.
-
@Brijesh-Bhatia Sir Are you following previous 3 candles highest high or lowest low as stop loss or just trailing till reversal ?
-
@Brijesh-Bhatia Sir! What if you get a reversal signal in the 3:15 to 3:30 candle? You go long or short as per the signal right at the opening?
