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

Thursday, July 10, 2014

10072014


Budget day. Did not trade the morning session. I was watching the budget live on TV. When I came back Nifty was at  7750. Gave a nice BPB of BRN 7700. Trade was a little risky at 20 point loss. Still went on. Initially it scared me for a while but later fell like a stone. TP at 7550 at close. nice 150 point move

42 comments:

  1. ST Sir,

    What a volatile session.. my 3rd trade worked well, but after hitting SL :) .. ended day with 14 point loss..
    Trades here

    ReplyDelete
    Replies
    1. I gave it some room. Kept stop above PB bar
      So escaped.

      ST

      Delete
  2. Hi ST
    Excellent trade.
    Did not trade today any time. Was held up with personal work.
    U think 7500 will break especially after the free fall today??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. TBP
      Frankly I dont know
      I look at these numbers just to mark BRN and for feeding my orders
      I just play this like a video game

      ST

      Delete
  3. Hi ST,

    After everything market shows "Just" 17 points down from yesterday :) :) I am sure my budget would have gone for toss if I traded today.. .. One day even I should master this video game like you :) ..

    Cheers!
    GK

    ReplyDelete
  4. Here is a list of blog that I know of that are inspired by you and use Decision Points. Maybe, somebody should consolidate the list...

    chartindia.blogspot.in
    dptrading.blogspot.in
    dpintratrading.blogspot.in
    mistinifty.blogspot.in
    niftynirvana.blogspot.com
    tradewithdeven.blogspot.in
    onlyniftyy.blogspot.in
    patrader101.blogspot.in
    nsemcxpriceaction.blogspot.in
    charttechnicals.blogspot.in
    trading-nirvana.blogspot.com
    tradingblisspoints.blogspot.in

    ReplyDelete
    Replies
    1. Augu Bhai

      Thanks for the list.
      I sincerely hope they are making money or at least they are not losing
      In fact this is putting so much psychological pressure on me.I can afford to lose my own money trading but feel guilty when others mess up and lose money trading my method.

      ST

      Delete
    2. ST,

      Thanks for the concern. I do believe, if one sincerely follow some kind of discipline/edge would eventually make it a success. My hearty wishes to all other traders.

      PS:- @Augu Bhai -- Thank you so much for the list.

      Cheers!
      GK

      Delete
    3. Dear ST,

      If you provided us a trading system, the results will be same for everyone in this group. But you have introduced the discretionary method to us. Most importantly We find an edge in it. So you don't need to feel with any psychological pressure. In my 10 years of trading experience, after following this method only i am trading with a peaceful mind with out fear. So you don't bother about anything. Loss is a part of the game.

      Delete
    4. Dear ST,
      You have given us a wonderful method to trade. You have also given us all the tools we need to learn the method and are mentoring and coaching us. What more could we ask for? The rest depends on the time and effort we put. Please don't feel any psychological pressure. You have given us your best.

      I wasnt trading for the most part today, managed to grab some 35 points in a quick trade in the afternoon.

      Delete
    5. Sir,

      Believe me, now a days.. i am doing TRADING, as i play "Temple Run"
      Really enjoying it!

      Delete
  5. ST,

    Dont we wait for at least a green candle to to take short below BRN ? this was countertrend trade and Mkt was greatly bullish at that time. Do we consider yesterdays high as FTA for this trade? or thats irrelevent when u shorted?

    Bharat

    ReplyDelete
    Replies
    1. screencast.com/t/2ZrRCLO4E

      ST

      Delete
    2. Yes there was a pullback in 1min chart.. but our primary tf is 3min na.. and that too we are taking counter trend trade..
      What gave u confidence to enter a counter trend trade with 1min entry .. without much confirmation in trading tf?

      Delete
    3. I do not look at 1M charts. I can see it looking at 3M charts.Many pullbacks on momentum moves will not be vissible on 3M. But if you are watching the candle formation you will know it.
      Price hit RN and stalled. Pulled back and made a second push .This one also failed. Another attempt to move up again. That too failed. Next bar broke below BRN. By this time it had fallen 50 points. If the bull story is intact BRN, an important DP should support . But it did not. So it is a short. It was not a direct BO. It was a BPB. A BPB itself is more than enough confirmation

      ST

      Delete
    4. Bharath
      There was a FTC at RN 7750
      Then the pivot low cracked
      Then DP, BRN 7700 cracked
      Attempt to climb back above BRN failed. What other confirmation is required?
      If that inside bar pull back is not enough market gave another pullback.A full green candle of 3 minutes
      Then another 3M red bar before breaking down. One could have shorted below this. Market gave us 6 minutes to think and act.

      ST

      Delete
    5. Thanks a Lot ST for detailed explanation..


      Bharat

      Delete
  6. once price moves up and down through a DP , u drawback that DP ? that may be any DP?

    ReplyDelete
  7. http://niftynirvana.blogspot.in/2013/12/dynamic-levels.html

    ST

    ReplyDelete
  8. im curiously asking a doubt, why DP method is working very well ?

    ReplyDelete
    Replies
    1. There are two reasons
      1.A level works well when so many traders notice and act at that particular level. People use different indicators on different time frames and act at different levels. DPs are indicator,time frame independent levels. all the people can see them well and a lot of people act there.
      2.DPs are markets own levels not some calculated levels. Today's high and lows are tomorrows PDL,PDH. where market turned. Market will respect its own proven levels. Market don't care about your secret levels and will never respect it

      What is the use of Technical Analysis? TA is being used to identify levels where you can enter and exit trades. Think about SMA,EMA,Pivots,Camerillas,Fibs,Gann,EW,ATR levels,MACD,........ They are used to identify actionable price levels. Do we need to break our head when market itself showing levels which it is going to respect ?

      ST

      Delete
    2. ST Sir,

      I have read, head & shoulders pattern.. loosing its relevance, as majority traders able to identify and trading it.. thereby pattern failing most of times.

      By any chance, does it happen to DP's also ? .. A crazy doubt!

      Delete
    3. "Do we need to break our head when market itself showing levels which it is going to respect?" - I am pressing the "Like" button here.

      Delete
    4. Hi
      ST sir ,
      i read somewhere on online forum ..there is every system /method/formula/technique of trading have limited time of success after that ...there result will poor ....or not well as compare to previous one .Is DP trading will face same problem ? just i have doubt in my mind .....i have faith on DP and i trade on it ....
      i read on o forum prime intraday method ,hetalraj method ,ambush method ,sh 315 intraday method .....but every method have some time and that time they are king size.....but after that they will loose there shine ....jusst ask ..
      again say i love DP & have faith on it

      thank you sir

      Delete
  9. Sir good evening,sir can the 11.03 am candle can be termed as Master candle,kindly update thnx

    ReplyDelete
    Replies
    1. Yes. It came during the budget announcement
      Stay out during announcements

      ST

      Delete
  10. Hi ST,

    Even i took short trade at BPB of BRN at 7700 but price moved above BRN (green candle) and hit my SL then moved 150 points down. What was your thought process for keeping SL above BO candle. Usually we will keep SL just above BRN rt?

    Can you pls advise what was wrong in my trade.

    Thank you,

    Regards,
    Kiran.

    ReplyDelete
    Replies
    1. My stop was not above BO candle. It was above the pullback candle,the logical place to keep the stop
      It was a 250 point range volatile announcement day and there could be overshoots and overlaps.So I kept a bigger stop.
      Nothing wrong with your trades. Unfortunately market came back and stopped you out. That is all. Nothing to worry you will miss many such opportunities in your trading career and you will get much more windfall profits to compensate them.Forget it and move on to the next one

      ST

      Delete
  11. Thanks for your advise ST.

    Regards,
    Kiran.

    ReplyDelete
  12. Rose/Vishal

    DPs are implied S/R areas. S/R worked in all the auction markets for centuries.
    I believe it will give us an enduring edge. Anyway if it fails we may need to find some tweaks

    How can a pattern fail if the majority traded it? I just cant understand it.
    In H&S pattern traders short the break of neck line. Right?
    More traders shorting there means more order flow on short side
    Pattern should become more relevant and more effective

    Imagine 10000 people trading DP method today. All of them short the BPB of BRN
    What will happen? How can price move up?
    http://niftynirvana.blogspot.in/2012/06/reading-secret-methods.html

    Now regarding H&S pattern. See how Bulkowski explains it with a picture.Do you think shorting at C as a high probability trade? http://thepatternsite.com/hst.html

    ST

    ReplyDelete
    Replies
    1. Makes sense sir.. i just quoted, what i heard in some blog.. anyways your reply bring more confidence into us :)

      Delete
    2. if majority are short (selling), then who will buy, all traders know H and S , if all sell at same neck or head then who buy them?

      Delete
    3. People execute different strategies in markets
      What we see as a H&S in 3M charts will not be visible in 15M at all
      As 3M traders we are not bothered about a HS in 15M

      ST

      Delete
  13. Sir,

    Is it advisable to trade before the announcement of quarterly results of Infosys, scheduled for tomorrow?

    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      We are trading the broad market.Ignore individual stocks

      ST

      Delete
    2. Sir,

      Thanks for the guidance.

      S.Karthikeyan

      Delete
  14. Hi ST Sir,
    Plz clarify which close price i consider . Last trade price or close price.
    Regards
    Ss dhiman

    ReplyDelete
    Replies
    1. Trade what you see on chart. it will be last traded price

      ST

      Delete
  15. Sir good after noon ,sir Then the pivot low cracked (your comment @yday 8.10 pm ) kindly update the time of pivot low candle thnx

    ReplyDelete

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