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

Wednesday, February 5, 2014

05022014


Nifty gaped down. Fall stalled at BRN. IR formed. Went short on BPB. It was not a good decision. Nifty was already down nearly 50 points and further move was very low probability. Scratched immediately at breakeven. Went long on break of MSP as BPB of BRN. TP around 6035 on break of consolidation. Did not take any other trade as nifty started channeling.

22 comments:

  1. Sir,

    Todays chart is ditto of Figure 15 on page 41 in your book, pressure play with channel.

    Thank you.

    Regards,
    Rajesh

    ReplyDelete
  2. Sir,

    I think your TP was in TRAP, even is tempted to close but my trailing stop was already at swing low and waited to see IRH and price bounced from there and i keep trailing all swing lows till the end for the long which i took at 11.30 candle based on HL formation having MSP as FTA.

    Using swing HL's when price in channel gives a very good result- its like make or break trade, few points risk is always a worth.


    Thanks
    Raghu

    ReplyDelete
  3. Hi ST

    Initially took BOF BRN.
    How to avoid such trades?

    Thanks
    TBP

    ReplyDelete
  4. TBP

    Wait till price retraces beyond the BO candle. Especially on CT trades

    ST

    ReplyDelete
  5. Raghu

    TP was not at a TRAP. In an uptrend TRAP occur at a swing low.
    You can trail a channel.But when I covered the trade the channel was not clear. At that point a reversal cannot be ruled out.

    ST

    ReplyDelete
  6. good evening sir , today i took long position first BOF of BRN and scratched with six point loss and took again long on BOF of BRN and book profit around 6000 of NS and did not attempt other trade on nifty future

    ReplyDelete
  7. sir, can we consider option strike price as decision point on f&O stocks........?

    ReplyDelete
  8. Thanks ST for the reply
    also could u suggest a software or application using which i can draw,write,mark on charts.

    thanks
    TBP

    ReplyDelete
  9. TODAYS CHART RESEMBLES DRAGON PATTERN

    ReplyDelete
  10. Anoop

    While taking BPB and BOF wait for the break of BO bar.
    Don,t know about stock F&O. It should work I think.

    ST

    ReplyDelete
  11. yes sir first BOF buying was my mistake I don,t repeat it and you have changed my all trading concepts thanks,thanks,thanks a lots

    ReplyDelete
  12. TBP

    I am using "JING". It is free for basic things

    ST

    ReplyDelete
  13. nirtos

    IMHO, do not waste your time looking for Dragons,Swans and Butterflies on charts.
    They are not reliable and actionable. You may differ

    ST

    ReplyDelete
  14. TBP

    Google "Jing", Dear
    It is easier than posting a comment and waiting for my reply.
    http://www.techsmith.com/jing.html

    ST

    ReplyDelete
  15. Hi ST
    Impressed with ur book read many times but whenever try to trade endup in loss from one month plz guide i want to trade as per ur guidance.plz help me sir
    Thx
    Ss dhiman

    ReplyDelete
  16. "While taking BPB and BOF wait for the break of BO bar."

    Sorry, couldn't got it properly....where should we go for long after BOF(seems)of BRN for first time...

    Regards

    ReplyDelete
  17. Ss dhiman

    Do not trade the method with real money. First you have to do it on historical charts, then simulate on some software. It will take some time to develop the market sense.

    ST

    ReplyDelete
  18. Sanjaya

    Go long or short below or above the BO bar.Here 7th bar.
    BO of DO-IRH. BOF triggers only the bottom of BO bar cracks which did not happen

    ST

    ReplyDelete
  19. sir,
    Its awesome software ...very useful..thank u..

    ReplyDelete

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