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

Tuesday, October 16, 2012

16102012



Nifty gaped up above PDH. Bias was bullish. BOF of PDH/IR low gave a long signal.TP at IR High/HOD. Rejection on TST of HOD gave a short signal which moved very well. It went down breaking  PDH, PDC, BRN. When it started channeling near PDL, I exited and missed the final 30 point move.It was just a flag.
Posted by at

11 comments:

  1. Mr. PaiOctober 16, 2012 at 3:48 PM

    Hello SmartTrader,

    Your blogs and system are very interesting. I came to know about the blog from VFMDirect but only recently did I find time to read it thoroughly.
    So much so I have read most of your blog begining Jan and I am now a fan, I visit your blog regularly. It has a very clean format and your insights are very thought provoking.

    I started as a buy and hold trader and moved on to futures and options where I lost heavily (only good part being I could afford it).
    Some of your blogs (such as slippery slope and changing/chasing trading strategies) reminded me of the many mistakes I made/make.
    I have a day job so cannot do any intra-day trades, though time permitting I try to do mock trades and compare with your daily analysis of your trade.

    Do you recommend/suggest any system for trading derivatives with a time-frame of a few days?

    Regards and Best Wishes,
    Mr. Pai

    ReplyDelete
  2. Mr. PaiOctober 16, 2012 at 3:52 PM

    Based on your system I too got the BOF buy (first) and closed/stopped out on the failure to close above IRH. I wonder how you decided to short at IRH, I waited for the next DP at PDH to crack before shorting and TP a bit to early.

    All above are mock trades in realtime. I have lost enough money for this calendar year that I decided I will only be using trading mock till I build the necessary discipline.

    ReplyDelete
  3. SamOctober 16, 2012 at 4:23 PM

    Sir,

    Can u plot the ATP on your charts in Trade Tiger?

    Sam

    ReplyDelete
  4. AnonymousOctober 16, 2012 at 6:19 PM

    Hello sir.. thanxs alot for sharing ur insight n wisdom.. can u pls reiterate at what time do we draw IR(low n high) channel.. at fix time eg. 9.30/9.45 or any other parameter.. thanxs again..

    ReplyDelete
  5. SMART TraderOctober 16, 2012 at 6:35 PM

    Dear Mr. Pai

    Thanks for the visit and comment.
    I am totally focused on NF 3M charts.So cant help you in swing trading.Sorry.If you have not read Pradeep Bonde's blog , read
    http://www.stockbee.blogspot.in/

    If you are long and price fails to move above a DP book your profit and reverse.It will come with experience. Stay in the game.

    ST

    ReplyDelete
  6. SMART TraderOctober 16, 2012 at 6:37 PM

    Sam

    I do not use trade tiger.
    I can watch the current ATP on NOW terminal

    ST

    ReplyDelete
  7. SMART TraderOctober 16, 2012 at 6:50 PM

    Anonymous

    I have written a detailed post on IR
    It is listed under important posts/Structure and patterns

    ST

    ReplyDelete
  8. Mr. PaiOctober 16, 2012 at 7:03 PM

    Hello SmartTrader,

    Thank you for your suggestions. Keep up the good work and blogging. Tremendously useful for learning.

    ReplyDelete
  9. ratnakarOctober 16, 2012 at 8:40 PM

    If you are long and price fails to move above a DP book your profit and reverse.It will come with experience. .......

    thanx

    ReplyDelete
  10. SMART TraderOctober 16, 2012 at 9:04 PM

    ratnakar

    Don't confuse yourself. This is not a SAR ( Stop and reverse Method). Need to take appropriate decision depending upon the price action.

    ST

    ReplyDelete
  11. ratnakarOctober 16, 2012 at 9:12 PM

    http://www.stockbee.blogspot.in/


    than x for this also..

    ReplyDelete

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

Subscribe to: Post Comments (Atom)