There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Friday, November 29, 2013

29112013

Nifty opened above 6150. Went long above the first candle even though it was not a correct IR. The move surprised me. I expected a channel move till BRN only. Then it was a tight trading range rest of the day. Shorted BOF of range high. This did not move as expected.

24 comments:

  1. Hi ST,

    Kept y'day high in my mind as the pace of the morning move was surprising. Just entered at the right time, which seemed to be a minor PB. TP at BRN which gave 40 Points.
    I guess bulls were smoking that cigarette today!!!

    Thanks,
    VD

    ReplyDelete
  2. What was the stoploss for that 1st trade?
    Raghu

    ReplyDelete
  3. hello sir,
    took the BOF trade and shorted at 6221. and finally covered at 6230.

    ReplyDelete
  4. Raghu

    It was below the first bar
    I entered because it was a very high probability trade. Look at what happened to price at that area earlier

    ST

    ReplyDelete
  5. Hi ST,
    Could u plz clarify the initial range concept. I have read your post at the bottom on it but still want clarification..

    thanks,
    VD

    ReplyDelete
  6. Hi ST,

    BOF trades how do you decide that its a good BOF to trade, if you see there is one more BOF before the trade you take

    ReplyDelete
  7. VD

    I do not fix a time frame for the IR like 10 minutes,15 minutes etc.
    Let the market trade and make its own range

    ST

    ReplyDelete
  8. shubh

    BOF should happen after a clear penetration of the level. We need a lot of BO traders to get trapped
    Then there should be space for the trade to move
    SCORE is important

    ST

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  9. Dear ST,
    I am a regular reader of YTC and I got your reference from there. I am new to day trading. Seeing your daily charts i didnt understand the terminologies used such as "BRN", "MSP" etc. Can you provide a post for all the shortforms then it will be good for the newies.

    Regards,
    DM

    ReplyDelete
  10. Dinil Mathew

    “Ask and it will be given to you; seek and you will find; knock and the door will be opened to you."

    Mathew 7:7, Holy Bible.

    There is a glossary and list of important posts below the page

    Thanks for the visit and comment

    ST

    ST

    ReplyDelete
  11. Dear ST,
    Thanks for the reply. Sorry that I didnt checked the bottom blogs. And now I feel like this is the right place for me to learn and feel the market.
    I dont know whether its the right place to ask this question. I have 1 doubt that I couldnt able to find answer. Why people are trading futures particularly Nifty on intraday as brokerage itself will come around Rs.200 (4 pts) for a single trade(entry & exit). Instead they could have traded stocks (intraday basis) where u can decide the number of stocks (instead of lot) and control risk more efficiently.

    Regards,

    ReplyDelete
  12. Dinil

    Single trade in NF will cost less than Rs 100/-. Change your broker.
    I do not risk more than 10 Nifty points on a trade. It is just Rs 500/-
    Amateurs and investors operate in stocks and it is very difficult to anticipate what they are going to do.
    Futures especially index futures are controlled by hard core professional traders and their actions are more or less predictable

    ST

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  13. Nice explanation ST,

    Dinil, check out zerodha.com

    thanks,
    VD

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  14. dinil mathew ,in RK Global nifty futures brokerage works out to only Rs 50/

    ReplyDelete
  15. Dear All,
    I am so much excited about the help and support provided by you people. Thanks a lot for the quick and prompt replies. And ST a big salute to you for maintaining a nice place (blog) to meet so much nice persons.

    Regards,

    ReplyDelete
  16. Hi VD
    are you a zerodha trader?
    which chart do you use?

    Sudhanva.

    ReplyDelete
    Replies
    1. Sudhanva,
      For a dialogue, plz post on my blog. ST may not appreciate a dialogue being run here.
      Thanks,
      VD

      Delete
  17. hi dinil,

    please try www.compositedge.com

    they are for more advanced and better than zerodha as -

    -they will give you a trade @ 18 rs per order (unlimited)
    -once you reach 2500 in brokerage they will make your data feed FREE (worth of 900)
    -they all kind of automation and algo,s whichis out of the box and for more advanced than simple NEST and everything is approved from all relevant exchanges
    - they do all these based on association INDIA's best auto platform called www.symphonyfintech.com

    more importantly they almost automated ST's strategy and its available FREE.

    Good Luck

    Raghu

    ReplyDelete
  18. Hi ST,

    It would be nice if you could recommend some brokers for FnO.

    Thanks
    BVJ

    ReplyDelete
  19. See if some one trading 5-8 trades a day like me with 35000 to 50000 in account any time for them

    www.sasonline.in/rs999unlimitedtradingplan.htm
    is best.

    As 5 trades a a day will result in 50000 (5*40*250 trading days app) a year, but using above is 12000 a year while you can buy 2-3 insurance policies to protect your family with saved 38000!!!!

    hope it helps to many

    Babu

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  20. There is a thread on Tradeji forum
    http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparision.html
    Check it

    ST

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  21. ST,
    Nice blog. Appreciate the effort you have and are putting in to share your knowledge.
    Can you elaborate on this comment "...Look at what happened to price at that area earlier"
    Which date and what are you referring to?
    Thx again,
    DM

    ReplyDelete
  22. DM

    I do not remember.
    It was long back. Might be a Fluid

    ST

    ReplyDelete

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