Nifty gaped up well above PDH and sold without giving an opportunity to enter. Found support at PDH/PDC. Went long on the BPB of BRN. Price went where it was supposed to go DO/IRH. Shorted on second TST of DO/IRH. Covered the trade at BRN. Did not go long on the BOF of BRN. Expected a BOF of HOD at the last hour, but trade did not trigger.Notice the point A. Such levels may create trouble for breakout as well as BOF trades. Trade BOF only on break of level "B" and do not exit BO trades till the crack of point A ( Refer Pic 9 of Initial Stops)
There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Friday, October 11, 2013
11102013
Nifty gaped up well above PDH and sold without giving an opportunity to enter. Found support at PDH/PDC. Went long on the BPB of BRN. Price went where it was supposed to go DO/IRH. Shorted on second TST of DO/IRH. Covered the trade at BRN. Did not go long on the BOF of BRN. Expected a BOF of HOD at the last hour, but trade did not trigger.Notice the point A. Such levels may create trouble for breakout as well as BOF trades. Trade BOF only on break of level "B" and do not exit BO trades till the crack of point A ( Refer Pic 9 of Initial Stops)
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Hi ST sir,
ReplyDeleteThanks a lot for that lovely n useful explanation to avoid wrong trade. I again thank u for updating n guiding us on a regular basis.
Anurag Jais
Sir,
ReplyDeleteWhere did you placed your stop in the first trade.
I entered in the same bar @ 6106 but got stopped out when market came back to 6103.20.
Thanks.
Arvind Kumar
ReplyDeleteWe are trading BPB of BRN
Stop should be below BRN
ST
sir, just wanted to ask u if u have tried this method on any other script or commodities ??
ReplyDeleteCan it be tried ?
Thanks
anurag
ReplyDeleteNo. I have not tried.
Try it. Somebody wrote me it work on NSE currencies
ST