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

Friday, September 5, 2014

05092014



Nifty opened near PDC and went above PDH. Avoided the long trade as I expected some selling at RN 8150. Price traded just below PDH for an hour. Short on break of MSP. Covered at 8095 when down push failed. Expected a Barbed wire around BRN and PDL. Price moved up and formed a range above. Shorted again on break of range. Move was just SL triggering. Thought of going long on BOF of LOD. Hesitated and missed a smooth move through the fluid

44 comments:

  1. sir how many points s/l you take per trade if last trade long taken than how many pint s/l you will take . i took short at 24 first bar low and covered and long at 96 11:42 bar high as previous day low was there and reason for long is failure of the low is it valid to go long ??then exit on 07. 14:02 bar..

    ReplyDelete
    Replies
    1. Price will not reverse like that.Especially a counter trend one
      Expect some consolidation after the fall. You need not SAR the trade
      I will limit the risk within 10 points. http://screencast.com/t/XZl5dA80n

      ST

      Delete
  2. Dear ST,

    Any specific reason for you expecting selling at RN8150 (which it eventually did)

    ReplyDelete
    Replies
    1. Look at the left side of the chart. 8150 resisted .
      Then a BOF happened.It failed Resisted on the retest and sold again
      It is the highest option strike that bulls cannot conquer.

      ST

      Delete
  3. happy teachers day to you sir. really you are a fabulous and selfless teacher.
    thanks
    PUCHU_2500

    ReplyDelete
    Replies
    1. PUCHU_2500 is great, he is first wisher... next year i will be the first wisher..

      Delete
  4. hi all,

    lets we wish our great teacher "SMART TRADER" on this teachers day

    I wish first.

    "HAPPY TEACHERS DAY SIR"

    VENKATESH
    CHENNAI

    ReplyDelete
  5. Sir good evening,sir kindly update on this as I expected some selling at RN 8150 thnx

    ReplyDelete
  6. Any reason how you thought it may be a barbed wire around BRN/PDL rather than a move back into the fluid?

    I got whipped on 2 longs I took today, one in the early morning and one in mid session as BPB long of BRN/PDL. Both held on for a while before they hit SL. I was also looking at broader market which was inexplicably strong throughout the day but that had no effect on Nifty which sang it's own tune. Need to focus more on NF and tune out other things.

    ReplyDelete
    Replies
    1. Bias was bearish. Usual behavior of the market after a fall is a consolidation and resumption of trend
      Nifty itself is a proxy of broad market. No need to monitor anything else

      ST

      Delete
    2. Thank you ST ... I again started into nifty futures trading only recently and this week for first time I traded all 5 days of week with decision point methods. Your reply to comments are extremely helpful.

      Wishing you a happy teachers' day!

      Delete
  7. Dear ST

    Thanks to you for all the teachings.

    Regards,

    Veer

    ReplyDelete
  8. I tried to enter your second trade around 8106 as 14:03 bar low was 8107. But trade missed. I saw seconds tick chart after 8107.5 it went below 8105. What was your entry point? and what was your order placement?

    ReplyDelete
    Replies
    1. My order was below 13.41 bar low 8106
      With a trigger of 8105.It was a SL-M order. It filled only at 8103
      I was experimenting with SL M after losing 40 points day before yesterday due to slippage

      ST

      Delete
  9. Sir

    Happy Teacher's Day. Thank you very much for teaching me real trading.

    URD

    ReplyDelete
  10. ST,

    Thanks a Lot for your valued Guidance. Happy Teachers Day.

    Thanks and Regards

    Bharat

    ReplyDelete
  11. GM Sir
    Why Not take Morning trade around 9.20 bar ?? Any Reason
    2nd Trade around 12.30 why no long ??? (Range High) ??

    ReplyDelete
    Replies
    1. I expected RN 8150 to resist as it was a major flip. I have explained it in my post and again in my reply to zoozoo.
      Kindly read.I was looking to go short as the bias was bearish. So avoided the long and shorted the break down

      ST

      Delete
  12. Hi ST,

    Thanks for all the effort to educate us...Wishing you and your family a very Happy and Prosperous Onam.

    ReplyDelete
  13. ST,

    Thanks a lot for your valued guidance,.Happy Teachers Day :)

    I have few questions.

    Why u avoided bpb LOD yesterday and BRN above 12.27.. there was a nice fluid on left side. Why u felt the bias was bearish. we opned near yesterdays high and just broken yesterdays low and back within its range.before we initiate 12.27 trade. Please let me know your thought process.

    In the first trade u took ,we were at range low had NS BRN 8100 just below that.. why u attempted direct breakdown short and not waited for bpb there?or waited for reaction near NS BRN

    Why u attempted 2nd trade ?we had range below it also NF BRN was near. i was looking the ranges like this.
    Kindly enlighten.

    http://images.devs-on.net/Image/NxHcMdekk48I6VMH-Region.png

    Thanks and Regards

    Bharat

    ReplyDelete
  14. If you look at the 04092014 chart you can see 8100-8110 area was a chop zone. Price got trapped there for most of the day.
    So avoided trading into that area as a CT trade.
    Daily entered a decline mode on 04092014 and today price tried to break above PDH and sold. This showed price is not interested to go up. Again it made a lower low after the selling. For the second trade I was betting on the stop accumulation .My target was LOD and if lucky a further fall.The entire down fall was just stop triggering not fresh selling. That is why it bounced back

    http://screencast.com/t/PN8HxJYAau

    ST

    ReplyDelete
    Replies
    1. Thanks ST Sir. When you explain, it all becomes so easy to understand. It all becomes so clear. But, I am not able to think so clearly in real time.
      I am very frustrated by my performance in yesterday's market.

      Delete
    2. Hi ST,
      Though there was fluid in that area http://screencast.com/t/PN8HxJYAau you didnt take CT BOF long because of prev day chop in 8100-8110. Does extended chop like that take precedence over fluid?

      Delete
    3. Last event always will have precedence
      In this particular case price has already made multiple directional moves
      More than three directional moves in a day are very rare

      ST

      Delete
  15. ST Sir,

    My greetings and wishes to you and your family on the auspicious occasion of Thiru Onam.

    Regards,
    KSG

    ReplyDelete
  16. Dear ST

    Wish you a Happy Onam.

    Regards,

    Veer

    ReplyDelete
  17. Hi smart trader. Read your book 2 times. Very nicely and wisely written. I liked the narration as also the trading set up given therein. I will hereafter watch you blog regularly to get conversant with this method. My sincere thanks and regards.

    ReplyDelete
  18. Sir good evening,hope everything is fine at your end thnx

    ReplyDelete
  19. Dear All

    Thanks for the Onam wishes

    ST

    ReplyDelete

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