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

Thursday, May 9, 2013

09052013

Nifty opened within previous day range. IR formed. Went short on BPB of IRL. This trade did not move. Scratched at a small profit. Could not get any reliable signal to go long and missed the up move. Short on BOF of IRH/HOD. Market scared me and I was thinking about exiting. But as the earlier directional moves of the day were Channels, I  decided not to scratch and was lucky to capture a good move
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4 comments:

  1. Sunil SaranjameMay 9, 2013 at 9:46 PM

    yes, today was a difficult day to trade esp intra.

    Congrats on your short! Nice work!

    tc,

    ReplyDelete
  2. Raghu R BhatMay 9, 2013 at 10:19 PM

    There was a BOF after TP. Similar to what was marked LOD and BOF yesterday? rb


    ReplyDelete
  3. SMART TraderMay 9, 2013 at 10:36 PM

    SS
    Thanks
    I stayed as my stop was beyond the day extreme

    ST

    ReplyDelete
  4. SMART TraderMay 9, 2013 at 10:47 PM

    Raghu

    You are right
    There was a BOF at 6050
    I skipped it because there were 4 swing highs and IRL above it within 15 point.
    Yesterday there was no such chop.
    We need space to trade not traffic.
    Go to
    http://www.james16group.us/
    Watch a video titled "Traffic V/s Space" by mbqb11 under guest material

    ST

    ReplyDelete

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