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

Thursday, July 31, 2014

31072014


Nifty opened below PDC and traded within IR till 13.30 Six attempts to move above PDC failed. Short below IRL .Almost stopped out by the deep pull back, but did not trigger my stop above the entry bar. Trailed and got stopped out at 7740 level. Did not attempt any other entry. The fluid created by yesterday up move worked well even on expiry day

19 comments:

  1. ST Sir,

    Missed downfall, as i exited short at cost during pull back.Did Not attempt any trade further, expiry dizziness.
    Trades here

    ReplyDelete
    Replies
    1. Allow some room on such BO after prolonged consolidation
      Here it was also into a fluid.
      Your chat room is putting too much psychological pressure on you, I think
      Preserve Financial as well as emotional capital. Do not hesitate to stop it if it is draining your energy
      All the best

      ST

      Delete
    2. As ST sir said, group trading never works. Trading must be personal and ideas must be shared.

      Rakeshky

      Delete
    3. Agree with you sir & kumar..
      I started it with intention of sharing/discussing patterns & low risk entries.. but i see most of days it ends with personal trade follow-ups.

      If not affecting my psyche, it is not adding value what i intended.. i am going to remove it from tomorrow.

      Delete
    4. Rose,
      Instead of removing it, simply leave it as it is. If it affects your personal trade, simply do not log in during trading hour.
      Leave it for others.
      Manish

      Delete
  2. Hi ST
    same trade as yours. I often Miss or get a good slippage while taking PP trades. How do you take such trades.

    ReplyDelete
    Replies
    1. I am using SL Limit orders usually 50-75 paise difference between Trigger and Limit

      ST

      Delete
  3. St Sir,
    I trailed it at 7751 after price moved 10 points below RN. and got stopped out. Missed another 10 points. Could we short the downmove as TST of PDC/HOD.

    ReplyDelete
    Replies
    1. Yes you can blindly short there as FTC or TST with SL above HOD
      But psychologically it is very difficult to do without some confirmation
      In fact these are the best trades as your entry will be very early

      ST

      Delete
  4. St Sir,
    Would there have been upside breakout after range where to put a Sl order for long as PDC, PDH,ABD BRN ABOVE.

    ReplyDelete
    Replies
    1. I will long above PDH with a SL below PDC

      ST

      Delete
    2. DIRECT BO OR WAIT FOR BPB

      Delete
    3. You can try direct BO after 2-3 tests. Otherwise BPB

      ST

      Delete
  5. Hi ST
    Did not trade today as not well.
    In the short trade, can profit be taken at the pin bar which formed at previous day's MSP from where the up move started?
    Thanks
    TBP

    ReplyDelete
    Replies
    1. In hindsight you can.
      But in live market we will normally hope for PDL

      ST

      Delete
  6. ST sir
    I took the same trade as yours and stopped out at the same area. Trailing Stop Loss is very tricky in high volatility days.

    VKM

    ReplyDelete
    Replies
    1. Generally I avoid afternoon trades on expiry days.
      DPs may not work well during such periods

      ST

      Delete
  7. hi,

    1. What was your thought process after seeing the failure of second push around 2.00 pm? Did you plan to exit around there?
    2. After breaking RN 50, price reached 37 and retraced back to 52. If that retrace turned as a RN BOF, where would you have stopped out?

    thanks
    Mathew

    ReplyDelete
    Replies
    1. I entered short at 7772. When that second push did not move,price was around 7766 only. Just 6 poit in profit
      Price is breaking out after 4 hours of consolidation and there was a fluid below. price was stalling at the previous day pull back low. I felt it may move some more and brought down the stop to 7770 so that I can sit tight without any loss
      Once in good profit and the move is not an over extended one I allow a pull back and place the stop beyond this. If it reverses without pull back I will exit on crack of the flip

      ST

      Delete

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