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

Friday, July 18, 2014

18072014


Nifty opened near PDL and fell. Short on the BPB of PDL. TP when it bounced from BRN. Second trade was a long on the BPB of PDL. TP when price failed to cross PDH. Shorted the BOF of PDH below PDC. Price bounced from IRH closed the trade at 9 point profit. Last trade was a PP above PDH/HOD. This trade failed . Exited at breakeven

26 comments:

  1. Hi ST
    Nice trades
    Was BOF BRN 7600 an opportunity to go long??
    Any reasons to avoid it??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. I exited the short above the swing high.
      Then there was not much space with IRL and PDL above it

      ST

      Delete
  2. ST Sir,

    Good day.. bagged 65 points
    Trades here

    Sir.. i observed that when ever i had 1st traded ended in good profit (20+) .. i am able to catch end day well.. psychological advantage ? :)

    ReplyDelete
  3. Hi ST,
    For second trade "TP when price failed to cross PDH" Please can you tell at what time you exited? Thanks.

    ReplyDelete
    Replies
    1. I exited on close of that bearish engulfing bar which made HOD

      ST

      Delete
  4. Dear ST,
    I have a query regarding your third trade. The target for this trade would have been IRH. Price did not reach the IRH but bounced up before that. You took profit when price crossed the top of the red candle. Why did you feel that the price would not go down further? Couldnt this just have been a normal pullback, after which price would have resumed its journey towards IRH?
    Thanks.

    ReplyDelete
    Replies
    1. It almost touched IRH. My expectation was a maximum move to PDL
      7640 was the earlier BO point and a strong flip. Also the end of a fluid area
      The point qualifies as MSP also
      I thought it will range between PDC and IRH. So exited quickly.

      ST

      Delete
  5. Hi ST, What is your thought process for taking long at PBP of PDL when RN and PDC were just above the range. - Prakash

    ReplyDelete
    Replies
    1. PDH and PDL are very important points. Previous day candle is considered as a range
      Price attempted to go below PDL and failed,After coming back above PDL, it was pushed down twice but failed
      RN was 10 poit away. If it reverses from there always I can exit at breakeven. Risk was also low. so attempted it

      ST

      Delete
    2. Thanks a Lot ST for detailed explanation.- Prakash

      Delete
  6. Regarding your second trade, Why the first BPB not taken? is there any reason behind it?

    ReplyDelete
    Replies
    1. Actually I was bearish and was expecting a BOF
      I had a SL sell order below the pull back swing low. I did not expect it to break the high

      ST

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

    ReplyDelete
  8. ST,

    Why u avoided short below 11.15 or 11.36 On IRH and yesterdays lod failure.. but took the PDH failure below 12.30 with same price action? I m missing something. Kindly Enlinghten

    Regards

    Bharat

    ReplyDelete
    Replies
    1. How these situations are similar?
      In both the cases after breakout I waited for a pull back
      Short was initiated below this swing low
      In the first case price did not break the swing low. So no short trade
      Second case trade was on break of this swing low

      ST

      Delete
  9. Dear sir,

    I am trying to implement your strategy on stocks but number of my successful trades is less. Need ur guidance on same here http://decisionpointstrading.blogspot.in/2014/07/180714_18.html?m=1

    ReplyDelete
    Replies
    1. I have not tried it on stocks.
      You may need to back test and find the right stocks
      TBP is trading it on Tata Steel

      ST

      Delete
    2. My thought is that technical analysis should work in all liquid stocks. If concept is one than it must work on stocks too. Is my thinking not correct?

      Delete
    3. Yes. It should work.
      But different contracts behave differently
      This depends on liquidity, free float of stocks, Inter market dependencies etc

      ST

      Delete
  10. ST sir,

    Do you have any personal email id or mobile no?if you are willing to share please share.It is great to know you are also from Kerala!!!

    ReplyDelete
    Replies
    1. You can mail me at
      niftynirvana at g mail dot com
      But I prefer to interact through the blog

      ST

      Delete
  11. Sir kindly update the significance of two small lines drawn above PP and PDH thnx

    ReplyDelete
    Replies
    1. First one is my entry and the second one exit

      ST

      Delete
    2. Sir good morning and thnx

      Delete

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