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

Tuesday, March 5, 2013

05032013

Nifty gaped up above PDH and spiked. My expectation was a channel move. But it did not give a meaningful pullback to enter. Finally it made a cigarette pattern and I went long on its break TP at BRN. Day ended as a type one trend day. Thanks to SS for early warning
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4 comments:

  1. VishalMarch 5, 2013 at 10:05 PM

    Hi sir,
    Considering it as TST, of 1/05/13 DH,I shorted at 9.45 bar,later scratched it at BO of cigarette,but missed today's fantastic long,as there were no DPs,i thought it will turn around,but it went up up and up :(

    ReplyDelete
  2. PushpaMarch 5, 2013 at 10:22 PM

    Sir

    What was your initial SL for your trade?

    And there seems to be a lot of whipsaw near BRN. It is not holding firmly as support and resistance. Your thoughts on this.

    ReplyDelete
  3. SMART TraderMarch 5, 2013 at 10:38 PM

    Pushpa

    Initial stop loss was below the breakout bar
    Dps may not act as solid support or resistance all the time. There could be whipsaws, Barbed Wires and channels especially during the fag end of the Market

    ST

    ReplyDelete
  4. SMART TraderMarch 5, 2013 at 10:43 PM

    Vishal

    Some days Market will be in control of Investors and higher time frame position traders.Type one trend days.
    Do not take any CT trades on such days

    ST

    ReplyDelete

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