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

Thursday, June 19, 2014

19062014



After giving good moves for two days, Nifty chopped around.Nifty gaped up and failed to move above previous day closing range high which was also NS BRN. Short on BOF of BRN on break of initial low. Covered the trade at PDC the range low.Did not attempt any other trade as there was too many levels in between.

40 comments:

  1. ST Sir,

    Flat day.. managed to end with 4 point gain.
    Chart here http://imgur.com/h6PVhIx

    TRADE1:

    Short at 7588 (below IRL), after BOF of BRN.. with initial SL 7602
    Moved SL to 7590, once NF closed below IRL
    Moved SL to 7578, above swing high
    Trail SL hit; exited trade with gain of 8 points

    TRADE2:

    Short at 7548, below DB.. with initial SL 7556
    Moved SL to 7552, once NF closed below PDL
    Moved SL to 7546, break even
    Moved SL to 7542, as 7500 NS holding
    Trail SL hit; exited trade with gain of 4 points


    TRADE3:
    Short at 7539, after BOF of RN 7550.. with initial SL 7552
    Moved SL to 7542, as barbed wire seems to be forming around PDL
    Trail SL hit; exited trade with loss of 5 points

    TRADE4:

    Long at 7562, above RH.. with initial SL 7554
    Moved SL to 7561, below swing low
    Trail SL hit; exited trade with loss of 3 points

    Points earned: +4

    ReplyDelete
    Replies
    1. Second one you could have done better
      When price failed to move beyond NS BRN 7500, just exit
      Zoom out the chart and see how many times price bounced from the area

      ST

      Delete
    2. U r right sir, but let me tell my thought process at that time.. i was expecting some pull back from 6500 NS, near to PDL (6540)... but it went above the level..

      Delete
  2. Hi ST,
    Why didn't you take BPB PDL ..NS BRN was about 20 points away ?

    rgds
    Kishore

    ReplyDelete
    Replies
    1. The low of the BO candle was 7532. NS BRN level was around 7520
      Further price is coming from 7590 and already fallen 60 points
      Entry was on the fourth leg of down move with pause at NS RN, PDC, and PDL

      ST

      Delete
  3. ST Sir,

    Very surprised, that you could avoid many signal thorough out day.. none worked better though, you must be having a check list before initiating trades...

    As of now, i am into trade, only if FTA is 10 points away... as i can scratch the trade if not moving as expected.. i will work on this week end to come up with check list, like monitoring risk:reward, location, trend favours etc.. parameters.. i know it is not possible to exactly follow self made rules, but having check list helps NOT to attempt low probability trades.. like how you could SIT whole day today :)

    Your thoughts pls..

    ReplyDelete
    Replies
    1. Rose Mary

      Here is my trading desktop
      Chart+trading SW+Notepad
      T S/W with LTP of NF in bold. NS and BNS in small. No green,red colors
      Will go on typing my thoughts in notepad till market close
      My decisions will go wrong and I may misread market action
      But I have my own reasons for every action and inaction

      ST

      Delete
    2. Oh. Forgot the link
      http://screencast.com/t/Fcj2eEKe

      ST

      Delete
    3. Nice to know :)

      2 years before, i was sitting before desktop as if i am in kargil war!
      With lot of browser tabs... around 10 (news, tips, communities, fb groups, what not )

      in SAR trading, it got reduced to my own excel, with pivots, retracements, swing high/low values, tech table.

      now in DP trading, it is reduced to 3M chart,mobile s/w. & a note pad to keep track of next possible trades..
      Simple, yet wonderful :)

      Delete
    4. Hi ST,

      Good to share your screenshot alongwith Notepad. Learnt something today also from you. Thanks for sharing. I am using Zerodha Trader platform. How to bring in Nifty Futures LTP and Nifty and Bank nifty spot value in Platform.

      Delete
    5. Sir,

      Typing/writing the thoughts will improve our focus and save us from committing into wrong trades in haste or out of carelessness. Thanks for sharing with us, how you keep your focus.

      Will be implemented from tomorrow.
      S.Karthikeyan

      Delete
    6. Check some trading desks
      I love the one by Marcello Arrambide
      http://www.tradingacademy.com/resources/financial-education-center/trading-desk-showcase.aspx
      He travels round the world making money day trading
      Check his site.

      ST

      Delete
    7. Sathish

      For adding NS -Right click indices dialogue. Show- select- right click -add
      Quotes-Right click on heading-reposition columns- remove unwanted
      Font/color-Preferences-user settings-appearance

      ST

      Delete
    8. Hi ST,
      Thanks so much for sharing the screen shot with your notes. I did not trade today due to some personal reasons. Looks like a good day to miss :)

      Delete
    9. hi ST
      I was just doing the exercise of writing my thoughts of course post trading session looking at each bar and price reaction at DPs.. This gives a good idea of my understanding and reading of the price behavior. Definitely I will implement from tomorrow . Thanks once again ST.

      Delete
    10. Sudharshan

      LTP is the last traded price at the exchange

      ST

      Delete
    11. i mean why and how u use LTP for trading

      Delete
    12. How can we trade without knowing the current price?
      In I charts it is shown on top in small fonts. So I watch it on trade terminal

      ST

      Delete
  4. Hi ST
    There was rejection twice at PDC( Long Lower tails). Can a long be initiated for IRL as target?
    Also was BOF IRL an opportunity to short?
    Thanks
    TBP

    ReplyDelete
    Replies
    1. Yes you can go long there targeting IRL
      You can short BOF of IRL. I skipped it as FTA was PDC and logical place to enter was below NS RN only

      ST

      Delete
  5. Hai sir, i has been watching ur site. it is very useful. which link give me nifty future 3 minute chart sir? plz guide me....

    ReplyDelete
    Replies
    1. It is Icharts premium
      Will be around Rs 800 PM
      http://www.icharts.in/

      ST

      Delete
  6. sir... r u here...i m waiting....

    ReplyDelete
    Replies
    1. GV
      If you are looking for something free
      http://charttechnicals.blogspot.in/2014/05/nifty-future-mt4-real-time-charts.html

      ST

      Delete
  7. Good evening ST sir,

    I have couple of basic questions?. In first trade you have been waited for second pull back to scratch the trade it that referring to above IRL?
    There was rejection twice at PDC. Can we expect a breakout at the third time(If happens) can we short, ignore RN and target PDL.

    ReplyDelete
    Replies
    1. arun kumar

      I waited because I thought price will close the gap. When it did I expected some buying and exited
      You can short provided there is space. We can expect some stop accumulation below the area

      ST

      Delete
  8. Sir good evening ,sir kindly update on this Entry was on the fourth leg of down move with pause at NS RN, PDC, and PDL
    thnx

    ReplyDelete
    Replies
    1. Amber
      Down fall happened in four down moves
      IRL to NS RN
      NS RN to PDC
      PDC to PDL and
      PDL to NS BRN
      nifty made small pullbacks after each fall

      ST

      Delete
    2. Sir thnx and one more Q ,sir on 17/6/14 after 2 pm a fluid had formed and on 18/6/14 the enter fluid was covered this means if next day fall happens the entire fluid can be taken out ,kindly update thnx

      Delete
    3. No. We cant expect that.
      Only thing we can tell is that price will move fast through the area
      Cant say how far it will fall

      ST


      Delete
  9. Sir,

    Just sent you an email.

    URD

    ReplyDelete
  10. Sir Thank you for your DP Trading strategy KCNair

    ReplyDelete
  11. Hi ST,

    Regarding your comment " Sathish

    For adding NS -Right click indices dialogue. Show- select- right click -add
    Quotes-Right click on heading-reposition columns- remove unwanted
    Font/color-Preferences-user settings-appearance"

    Are you talking about icharts or zerodha? I could not find the indices dialogue. i want to add NS.


    ReplyDelete
    Replies
    1. Vikram, I think you should see the gorilla video that ST had shared before :)

      Delete
    2. Vikram

      I am talking about the trade terminal not Icharts

      ST

      Delete
    3. SR, pls send me the link to the gorilla video.

      Delete
    4. I dont know which one S Roy mentions
      Here is one
      http://youtu.be/vJG698U2Mvo

      ST

      Delete

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