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

Monday, June 23, 2014

23062014


Nifty opened within previous day range. FTC above RN gave a short signal. Went short on PDC. expected a bounce from PDL. But price moved after a pull back. TP at BRN. Attempted two more shorts. TRAP at PDH. Entered below BRN. Then a BOF of BRN. Both the trades gave small profits. Missed the final short covering up move. Could have entered on BPB of BRN targeting PDL

28 comments:

  1. ST Sir,

    Good volatile session, i could capture 34 points.
    missed last upmove, as i was not ready for it & move also swift one, near EOD.

    As suggested by you, i have created a blog now.. please visit here http://dptrading.blogspot.in/2014/06/23-06-2014.html

    Also i made a check-list for trade initiation process.. thanks to U R Dave :)

    Please have a visit for check-list here
    http://dptrading.blogspot.in/2014/06/check-list-before-initiating-trade.html

    ReplyDelete
    Replies
    1. Nice Blog
      Mark where you entered and exited on the chart
      Also the pattern.Let it be your trade journal
      Good check list. But do not ignore ranges.
      Trading is not rocket science
      Good Location+ Enough Space+Favourable order flow+Limited risk+Trend= CLICK

      Delete
  2. hi Why you did not take long trade on TST of LOD considering the 25 points premium of nifty future over nifty spot. Any specific reason?

    ReplyDelete
    Replies
    1. I was holding a short and exited it at 7480 level
      I am not comfortable with SAR type entries.
      Next entry was at BPB of BRN. There I hesitated and missed 20 points

      ST

      Delete
  3. Hi ST,
    I have taken 2nd and 3rd. My exit and entry are slightly differ.

    http://nsemcxpriceaction.blogspot.in/

    ReplyDelete
    Replies
    1. Nice TST entry.
      These kind of with the trend TST touch trades give very good RR.
      But it is psychologically very difficult for a novice trader to execute.
      Attempt such trade only on the first retest

      ST

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    2. Is there any reason to trade TST on first retest?

      Delete
    3. On subsequent tests, the probability of the barrier breaking is higher
      Today you were shorting against the second BOF move of BRN .Trade was a low probability one
      But PDL resisted well

      ST

      Delete
  4. Hi ST
    If TST LOD would have taken, where would have been the entry??

    Also I have a query regarding my trade
    In the chart price reaches HOD but could not sustain. Can I go short below the point where I took profit in my first trade.
    Also in that case will IRH be the FTA or PDC will be the FTA. Price bounced from IRH but not decisively.

    Thanks
    TBP

    ReplyDelete
    Replies
    1. I will enter above 7481 on break of FLIP
      Here IRH will be the FTA. You can see price bounced twice from IRH before yielding

      ST

      Delete
  5. rose mary thanks for blog and check list....

    ReplyDelete
  6. ST,

    i attended long above 11.30 BPB of BRN and pressure play and another long above 2.06 BOF of lod and pressure play. along with the trades u specified were this trades wrong?as i thought price will atleast reach to IRH after pressure play..and the earlier down fall was fluid.

    Pls throw some light

    Regards

    Bharat

    ReplyDelete
    Replies
    1. Bharat

      http://screencast.com/t/zLWv6y2Xv
      Hope you can understand what was wrong with your trades

      ST

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    2. Sir,
      Do you mean that there is a strong flip zone just above BRN 6500? Do you mean anything else?
      Thanks,
      S.Karthikeyan

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    3. Yes. It was a very strong flip
      A BOF in the making?

      ST

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    4. Sir,
      Lower tail in the Day chart and the close above BRN may be the first signs of the forthcoming BOF. If price is accepted above 6520/6500 SPOT, it may well be a BOF, I think.

      On the other side, there is good fluidity below PDC/BRN.

      Thanks for your guidance.

      S.Karthikeyan

      Delete
  7. Sir good evening ,sir can the short trade be taken on the 4th candle when it touched RN and closed below it,kindly update thnx

    ReplyDelete
    Replies
    1. No. How do we know whether it is a reversal or just a pull back?

      ST

      Delete
  8. Hi ST, As luck would have it my order above IRH got skipped today. grrrrr! lol :) Wondering whether to go above this congestion now...would that be a greed entry?

    ReplyDelete
    Replies
    1. Little risky
      BRN above. Done 100 point vertical move since yesterday evening

      ST

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    2. Thank you ST. Please can you check if these range markings are correct? http://i.imgur.com/Ggsnmca.png

      Delete
    3. S Roy
      Current expectation is that the last impulse will act as a range
      http://screencast.com/t/8GhZ8hLdgmyC

      ST

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    4. Hi ST,
      Thanks a lot. Are we in cigarette mode waiting for poof?

      Delete
  9. sir, are you expecting a bof of 7575 and a push back towards 6620 and a ftc?

    ReplyDelete
    Replies
    1. Sudhanva

      Cant say
      Currently in a range 7575-7600

      ST

      Delete
  10. sir, it is a push back towards 7620 or ns 7600brn and a ftc or bof

    ReplyDelete
    Replies
    1. Anything can happen
      When market gives a low risk opportunity grab it
      As far as possible stay with the trend

      ST

      Delete

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