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

Tuesday, August 5, 2014

05082014


Announcement day . Nifty traded within the previous day closing range. There was some chop during announcement. Skipped this BOF of BRN and range low. Waited for the market to stabilize. Went short on the BOF of PDH. Nice down move. Exited when price moved above the pull back high. Nifty stalled below the range flip for a long time and gave a nice PP long trade  above BRN. TP around 7775. Done for the day. Traded on battery back up . No power since morning.

25 comments:

  1. ST Sir,

    Day of surprises, didn't attempt BO’s at PDH.. as i don't want to risk being event day. Waited for BPB/BOF signals.
    Missed BPB long at PDH afternoon, as move was too fast.

    No Trades today.

    ReplyDelete
  2. Hi ST
    Heard that its raining heavily in Kerala. Hope all is fine..
    In the last long trade, I entered using calls on a minor double bottom formation above the point where you TP for the previous short trade.
    Will it be a valid trade??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. You need to pay attention for space. If you are prepared for a bounce from Range flip and BRN, you can do it

      ST

      Delete
  3. hi ST,
    Did bof of brn just after announcement. Entered the BOF and scratched . Why I do not know. And missed the PP as placed the sl order just above 7794 (triggered but slipped) thinking that stops will carry the price over BRN and in case of reverse I will have margin to trail. Was I wrong.
    Nirmal.

    ReplyDelete
    Replies
    1. You can go long above the consolidation high at 7794.
      There will be enough stops to take price above BRN
      Let the market stabise. Do not trde immediately after announcements

      ST

      Delete
  4. Hi ST,
    I took the short, didnt take the long. Thought about the long, but couldnt figure out where to place the order. Nice day. At what price did you place the order for long?

    ReplyDelete
    Replies
    1. You could have gone long above the consolidation high or BRN
      It was a nice fluid to trade into

      ST

      Delete
    2. Thank you ST. Did you enter at 7702 or earlier or just at market?

      Delete
  5. ST,

    In the short trade why u not waited for any failure to down side to take profit? the move was sharp and we were yet to reach yesterdays low. i missed the profit booking Where u took and only exited above that pressure play..

    Second thing.. why u not taken BRN while taking the pressure play .. when did the bias change to up? isnt the brn was FTA for it.. ?

    Regards

    Bharat

    ReplyDelete
    Replies
    1. Exited the trade when the second push after the pull back failed to break the extreme
      I do not stay in the trade till the bias changes. I try to enter at a range extreme and ride it till the next range extreme
      http://www.niftynirvana.blogspot.in/2012/06/trends.html
      I entered long only on break of BRN. I have drawn a small line at the entry point.
      Here the bias changed when price climbed back to the earlier range



      ST

      Delete
  6. ST Sir,

    Your PP long is new learning to me today!
    I was waiting price action at BRN, as i failed to notice price is stalled at yesterday flip.

    Also missed BOF of PDH trade.. didn't expect such a sharp move on down side.. i was waiting for my BPB long trade to trigger :) .. opposite happened.

    Do you have plan to trade BPB long, had the BOF short not triggered?
    Just wanted to confirm if my thinking right at that time..

    ReplyDelete
    Replies
    1. It was almost near BRN.
      A consolidation lasted for an hour.
      Critical mass holding short.
      A long fluid in front.
      Risk within limit. It was an explosive set up with lot of stops above the consolidation
      Yes I will long BPB there. but will manage it tight

      ST

      Delete
  7. ST sir
    I missed the BOF short trade at PDH, but took the PP long at BRN which play out very well into the fluid.
    http://dpintratrading.blogspot.in/2014/08/05082014.html

    VKM

    ReplyDelete
    Replies
    1. Nice trade. My target was HOD. It went further

      ST

      Delete
  8. sir you waited for pivot to take trades? and how many points stop loss still i am not clear the whole concept

    ReplyDelete
    Replies
    1. Please go through the important posts given below the blog
      Everything is explained there. Alternatively you can download the E Books and read them of line

      ST

      Delete
  9. Sir,
    Why didnt u tried TST of PDH trade before BOF PDH as their were nearly 7 candles before failure. And also PDC was close at 7718. And the trend was up to that point. What was your thought process?

    Subhash.

    ReplyDelete
    Replies
    1. After a BO it is either a BOF or BPB, never a TST
      TST happens when price move away from a DP and revisit the area after a while
      I was looking for BOF or BPB and BOF happened. I went short

      ST

      Delete
  10. sir,

    pls tell the abbreviations for FBO, FFBO, DTBF, RT, PHOD, TLB,, i didnot find these in glossary

    thanks

    ReplyDelete
    Replies
    1. Those are not relevant.I no longer use them

      ST

      Delete
  11. Even pp also not in glossary

    ReplyDelete
    Replies
    1. It is there in glossary and there is a separate post on Pressure Plays under
      important Posts>Structure and Patterns
      ST

      Delete

Note: Only a member of this blog may post a comment.