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

Monday, June 16, 2014

16062014


Nifty opened near PDC. Broke below PDL and pulled back. Shorted on break of IRL. Trade did not move scratched. Price traded within the range , a barbed wire around PDL. Attempted another short on BOF of Range high when price broke below PDL. This one also failed to move. scratched. Did not attempt any other trade.

16 comments:

  1. ST Sir,

    Flat day.. did only 2 trades as R:R is not in favour throughout day for me.

    Chart here http://i.imgur.com/mM4LYSN.png


    TRADE1:

    Short at 7535 (below IRL), with initial SL 7548 (above PDL)
    Moved SL to 7537, as NF closed below BO bar
    Trail SL hit; exited trade with loss of 4 points

    TRADE2:

    Short at 7540 (below RL), with initial SL 7551
    Moved SL to 7548, after IRL broken
    Moved SL to 7543, pull back high
    Moved SL to 7538, break even
    Trail SL hit; exited trade at cost

    Points earned: -4

    ReplyDelete
    Replies
    1. Rose Mary
      Trades are OK. You are managing risk well
      I just thought about the way I day traded earlier. Short below IRL and stopped out above IRH
      Short below PDL with SL above HOD. Again stopped out
      Long above HOD again stopped out. Session ended with 60 point loss

      ST

      Delete
  2. Thanks Sir.. i also had bitter experiences in range bound markets with SAR.. do you believe i lost 100+ points single day.. switching long to shorts..shorts to longs.. as nifty keep on rolling around SAR.. i was turned blind and keep on shifting positions hoping to catch next big move.. there were times i sit whole month idle and booked a trade with 1000 point gain... that kind of moves spoil mechanical traders brain .. & they themselves let most of profit go in side ways again.. ofcourse thats fault of trader, not trading method but.. it is very difficult to control emotions..

    By the way.. it is interesting for us to know, how you started with DP trading, over coming failures.. improvisations made over the time.. we are enjoying end product now, but curious to know more on how you travelled.. (specially in DP trading)

    ReplyDelete
    Replies
    1. Trading requires a solution based thought process
      http://niftynirvana.blogspot.in/2013/01/think-different.html


      ST

      Delete
  3. ST,
    On which bar did you exit the second trade?

    ReplyDelete
    Replies
    1. I exited at the second bar after the lower tail rejection bar
      It was just a square off as there was no momentum to the down side

      ST

      Delete
  4. very boring day indeed.. short below 7535 did not move as expected as nifty spot took support @ 7500 RN and scratched the trade with 10 points profit. Long @ BO of morning high @ 7563 and it did not move either and scratched the trade @ 7560. Whole day was very boring. The stocks were also not moving much though some stocks reversed from early morning lows; I did not attempt any trade.

    ReplyDelete
    Replies
    1. We can expect good momentum on breakout of the current range

      ST

      Delete
  5. Hi ST,

    NS BRN was just below the IRL, so why did u take short at that point?

    Regards
    Naveen

    ReplyDelete
    Replies
    1. Watching that big red bar I expected some momentum and a move to the range low
      So ignored NS BRN

      ST

      Delete
  6. Real time intraday free charting application for mobile and computer. More details at,
    http://nsemcxpriceaction.blogspot.in/2014/06/nifty-futures-real-time-android.html

    ReplyDelete
  7. Dear ST,

    I know this is very basic and old but since 2 months working for me...

    even today all signals gave me more than 15-20 points easily...

    just wanted your inputs on such systems... its only for entry and exit is 10-15-20 points with trail some times

    [url=http://postimg.org/image/ivuhowuw7/][img]http://s7.postimg.org/ivuhowuw7/untitled.jpg[/img][/url]

    ReplyDelete
  8. sir the image
    http://postimg.org/image/ivuhowuw7/

    ReplyDelete
    Replies
    1. Dhatta

      Looks like some moving average crossover system
      I have no idea about them as I do not trade such systems

      ST

      Delete
  9. sir, can we say that today's price action as an envelope?

    ReplyDelete
    Replies
    1. Yes
      IR got enveloped with a wider range

      ST

      Delete

Note: Only a member of this blog may post a comment.