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

Tuesday, July 1, 2014

01072014


Nifty gaped up above PDC. There was a BOF at PDH.Shorted below the MC. Target was PDC.Trade did not work Stopped out above PDH. Skipped the long trade as it was a trade to all time high from where a 200 point fall started. Entered short on a BOF of range high . I expected the trade to run as critical mass was long and trapped . But price bounced back from RN/PDH area. Scratched. Both the trades did not work.

21 comments:

  1. ST Sir,

    Range bound day, managed to close day with 1 point loss.
    Trades here

    ReplyDelete
    Replies
    1. Good
      There is no direction for the Market
      Hope tomorrow it will move out

      ST

      Delete
  2. If we look at the NS chart, we can see that price came down and filled the gap by touching PDC.
    http://goo.gl/O1aWaf

    ---
    Mathew

    ReplyDelete
    Replies
    1. Mathew
      It did not touch PDC it seems
      PDC is the red dotted line I think.

      ST

      Delete
  3. Dear sir,

    Your orders are MARKET or LIMIT order?
    Can i apply your Method in stock futures day trading..

    pls reply sir,

    thanks

    ReplyDelete
    Replies
    1. Most of the time Stop Loss Limit orders
      Few people are doing it successfully

      ST

      Delete
  4. Hi ST
    where would be the long entry be??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. Break of first candle high
      Avoided due to NS RN and highest high

      ST

      Delete
  5. Sir, on eod the trend was up , also it opened with gap up , was it OK to go short (trade1) ?

    ReplyDelete
    Replies
    1. It was very risky and could have avoided

      ST

      Delete
  6. Hi ST,

    I am happy to share that I took the same 2 trades today. First was short at 7643 (9:31 AM) and covered at 7654 (9:53 AM) , though I wanted to cover at 7649 but kept SL above the PDC/RN. Second was BOF of DH at 7665 (2:41 PM) and it hit my trailing SL at 7661. I expected the market to break 7650 with sharp fall but that did not happen. Now I think I should have covered it around 7654 when the fall did not happen below 7650. But I have been losing good trades because of close SL, today I decided to give my trades little leeway. Your expert comments pls?

    ReplyDelete
    Replies
    1. Vikram
      First one was a little premature to go counter trend, it seems
      The BOF trade was an excellent signal. I expected it to move well
      It is all in the game

      ST

      Delete
  7. do you use settlement close or LTP as Previous days close prize?

    ReplyDelete
    Replies
    1. LTP. Traders trade charts
      Trade what you see on chart

      ST

      Delete
  8. Sir, Have u tried trading by applying ur study to nifty spot instead of nifty future? As premium of nifty future keep on increasing and deceasing many times in the market making a lot of whipsaw. For example today also nifty spot broke PDH for first time initially and bounce back in the next candle and never broke afterwards. where as future broke the PDH many times. So by looking at nifty spot one could have played BPB many times.

    ReplyDelete
  9. How do you know the corresponding levels in Nifty Futures?
    Where on NF you will keep your BO entry and Stop loss order?
    Better to trade the levels of traded contract.
    But I think the divergence between NF and NS can give some clues

    ST

    ST

    ReplyDelete
    Replies
    1. Sir, One can do that by opening nifty spot and future charts on the screen at the same time and when nifty spot approaches DP just check the corresponding level of nifty future and trade accordingly. Which is what I do in trading nifty.

      Delete
    2. Salildali

      We had discussed this subject earlier
      It created a lot of problems at the execution front
      http://niftynirvana.blogspot.in/2012/10/nifty-levels.html#comment-form

      ST

      Delete
  10. Sir,
    Ok. Thanks for wonderful system.

    ReplyDelete
  11. hi
    which broker your using and how much is brokerage (in nifty points). and margin your getting?

    ReplyDelete
    Replies
    1. I have accounts with Zerodha Trade Smart Online
      Brokerage will be around 2 points.
      Margin around 13000 for MIS orders

      ST

      Delete

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