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

Monday, December 31, 2012

31122012

Nifty opened within previous day range.Traded within 8 point range for nearly four hours. Then a break out and fall back to the range. A classic text book Cigarette.I thought PDH will give some support after the breakout It did not happen and the profit vanished. Notice the range low is BRN 5900 of Spot Nifty

Wish you all a very happy and prosperous New Year.
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4 comments:

  1. AnuragDecember 31, 2012 at 11:35 PM

    ST Sir,

    I entered long at BOF of TRL at 11:42 candle, waited too long and scratched around TRH. Too much waiting game and when I took profit, it suddenly broke out. Sir, I have 2 queries, one on today's trade and another on cigarette pattern:
    1. Where did you entered long (before the breakout) and on what DP?
    2. Is there any pattern to identify possible breakout direction in case of cigarette pattern?

    ReplyDelete
  2. sometimesbullsometimesbearJanuary 1, 2013 at 9:56 AM

    ST, wishing u also a very happy and prosperous and Suggammm new year :)

    ReplyDelete
  3. SMART TraderJanuary 1, 2013 at 7:44 PM

    @Anurag

    Cigarettes are direct breakout trades. Limit order is placed a little beyond range extreme.
    If it is a very tight trading range for a long period of time don't worry about the direction. Place orders on both sides

    @SBSB

    Thanks and same to you

    ST

    St

    ReplyDelete
  4. AnuragJanuary 1, 2013 at 7:47 PM

    Alright ST sir.

    Wishing you and your family a Happy n Prosperous new year. God Bless!!

    ReplyDelete

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