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

Monday, June 30, 2014

30062014


I was not trading today. There was no power since yesterday afternoon in our area. Some serious damage at the sub station due to heavy rains and lightning. There was a BPB entry at PDH which moved very well. The BOF of range low and high were difficult to trade signals.NS BRN 7600 was in between

46 comments:

  1. ST Sir,

    Missed morning up move, as i was waiting for IR to be formed.. above PDH nifty zoomed, leaving no chance. rest of the day, dedicated to YOUTube videos :)

    ReplyDelete
    Replies
    1. Rose Mary

      How you missed the BPB
      Price traded below the first bar high for five minutes

      ST

      Delete
    2. Infact, i was not ready mentally.. as it is just 2nd bar i hesitated & thought of wait for IR formation.. Should have took a chance, as breaking PDH is good entry.. noted down this point today.

      Delete
    3. I too agree with rose mary..samething happend to me as well !!! I missed first trade..i lost 35 pts second trade

      Delete
    4. LuckyHaa

      35 points loss on a trade?
      You should never lose more than 10 points on a trade

      ST

      Delete
  2. Hi ST
    No rains here in eastern part of maharashtra. Very uneasy weather!!

    Nice Outside day.
    ST, where would be the BOF long entry?? At the candle next to the rejection candle??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. It is difficult to take that entry with NS BRN in between
      and it was not a wide enough range

      ST

      Delete
    2. ST Sir,
      when you mention NS BRN do you mean the nifty spot price,How can you relate the spot price when watching the futures price

      Delete
  3. Hello sir,
    Can we consider the BOF of Range low , a TRAP too.

    Thanks,
    Arvind.

    ReplyDelete
    Replies
    1. Yes
      Both are BOF of earlier swing points/DPs
      In an established range we call it a BOF and in a HH/HL trend a TRAP

      ST

      Delete
  4. ST,
    Kindly take a look at my trades and give your feedback.

    http://1.bp.blogspot.com/-kC5XwERmLM8/U7E_2E8Q5pI/AAAAAAAAAgU/vec1hGTrUkQ/s1600/NF.png

    Thanks a lot.

    ReplyDelete
    Replies
    1. Your first trade is good
      The other two are low probability ones.
      Counter trend trades with not enough space within a range consolidation.

      ST

      Delete
  5. ST sir,

    I thought it was a Spike and Channel day.Took first trade as you mentioned but second trade as BOF of channel low.

    http://dpintratrading.blogspot.com/2014/06/30062014.html

    VKM

    ReplyDelete
    Replies
    1. Usually i do not enter on the BO or BOF of channels
      No harm if you stay with the trend

      ST

      Delete
  6. I have been following ST sir post and yours since last week,Really a great strategy and eye opener the concept of decision points and trading these ranges 70% probaility ,Can you please let me know what is the data feed you use for the charting

    ReplyDelete
    Replies
    1. I am using Icharts web based charting

      ST

      Delete
  7. Sir good evening,sir sent a mail when time permits kindly check thnx

    ReplyDelete
  8. ST, My USDINR trades for the day at http://patrader101.blogspot.in/2014/06/30-06-2014.html

    Thanks!

    ReplyDelete
    Replies
    1. PA Trader

      I am not familiar with USD INR.So cant analyze it well.
      I feel there was no space for the first trade. It was a gap closure
      Never go on trading the same DP. If a trade fails, mostly you will be in a channel or a barbed wire
      Here it looked like a Barbed wire around PDC

      ST

      Delete
  9. U R Dave has netted 526 points trading 17 sessions
    He was able to limit his losing trades to bare minimum
    Check his performance review
    http://charttechnicals.blogspot.in/2014/06/performance-review-for-june-2014.html

    Earlier Rose Mary had posted her performance here. 829 points in 26 sessions
    http://onlyynifty.blogspot.in/2014/06/dp-trading-1st-26-session-performance.html

    Congrats to Rose Mary and U R Dave.

    ST



    ReplyDelete
    Replies
    1. Congrats URD & Rosemary..Inspiring..Great Job!!!

      How many points were you able to capture ST?

      Thanks

      Delete
    2. ST Sir,

      Thanks a lot.. it was possible, because I am confident that DP trading is the one suits me 100%.. (my psyche & temperament) while reading e-book & important posts.. that's why I could play the game with good emotional balance.. hope it continues :)

      Delete
    3. Congrats URD & Rosemary.

      Delete
    4. tRaDeR-B

      For me,this blog Nifty Nirvana is a teaching endeavor.
      That is why from the beginning I have decided
      1.Not to disclose my trading results
      2.Not to give any live calls
      3.Not to ask some donation or subscription.
      The best way to assess a teachers performance, I believe is to evaluate the progress achieved by his students on achievement tests.Am I a good teacher and trainer?

      ST

      Delete
    5. Sir,

      You are a very good teacher and trainer. No doubt. Many are learning from you and many others will learn and trade successfully, I am very much sure. The endeavor like Nifty Nirvana requires great commitment and hard work. We are very much thankful to you ,sir and wish you great success.

      URD

      Delete
    6. Yes you are ST...

      I take my question back...:)

      Thanks

      Delete
    7. Trader B
      No . Nothing wrong with questions
      Questions force me to think and right thinking leads to solutions.

      ST

      Delete
  10. Sir 9.42 am candle with low of 7605 can termed as MSP .kindly update thnx

    ReplyDelete
    Replies
    1. Yes. But for a while. When price made higher highs later it changed

      ST

      Delete
    2. Sir good morning and thnx

      Delete
  11. Hi ST,
    My first bar looked like this http://i.imgur.com/OwspODD.png Would you go love above it? Thanks.

    ReplyDelete
    Replies
    1. S Roy
      I may hesitate with such a big upper tail and BRN very near

      ST

      Delete
  12. Sir,

    Thanks a lot.

    Sir, it is your method, your system, your knowledge, your guidance that has benefited me. I never had a success before. You led me to the path of success. It is only because of you and you.

    I think I could capture more points because of frequent big intraday movements in nifty. Also I was able to concentrate better on markets and trade consistently because of better work environment at my work place. I had a lot of free time this month. Lets see what pans out next month...

    Once again thank you very much sir.

    URD

    ReplyDelete
    Replies
    1. URD

      Markets are cyclical in nature. Once volatility shrinks we may not be able to make exceptional returns
      But still the method can make reasonable returns.Let me quote Mahatma Gandhi
      “The world has enough for everyone's need, but not enough for everyone's greed.”

      ST

      Delete
    2. Sir,

      Thanks. I am aware of expansion and contraction theory. Trading contraction phase will have its limitations but I am confident I would be able to trade. Gains would be limited as volatility shrinks.

      URD

      Delete
  13. Sir,
    Your are more than a good teacher and trainer .
    Very hard to find in this so called Modern World.
    I imagine you as though you are the old school teacher of some Indian village ,whose student becomes Doctor , Engineers, IAS ,IPS etc, but the teacher still teaches in his old little school.

    Thanks
    Arvind.

    ReplyDelete
    Replies
    1. Arvind

      My parents were primary school teachers at a small fishing village of coastal Kerala
      Teaching is in my blood, it seems

      ST

      Delete
    2. Nice ST, No wonder you have this talent

      Are you originally from Thrissur?

      Delete
    3. Originally from Kanippayyur near Kunnamkulam in Thrissur district
      But as my parents were teachers at Ponnani , we settled there.
      I Am living in Thrissur since 2006 only

      ST

      Delete
    4. Sir i have the same thought as Mr U R Dave said You are a very good teacher and trainer. No doubt. Many are learning from you and many others will learn and trade successfully, I am very much sure. The endeavor like Nifty Nirvana requires great commitment and hard work. We are very much thankful to you ,sir and wish you great success. thnx

      Delete
    5. hi
      suppose price moving up, when to trail using swing low and when to use flip?

      Delete
  14. Arvind

    What you wrote reminded me about an old Ad starring Big B
    http://youtu.be/p1jazycAjLA

    ST

    ReplyDelete

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