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

Thursday, November 14, 2013

14112013

Nifty opened below PDH and spiked. Expected a channel move. Long above IRH. Scratched the trade. Went short when price broke below IRH. I was expecting a move till DO/PDH. Covered on BOF of BRN. No other trades today

15 comments:

  1. Dear ST,
    how do you measure IRH ? I mean what is the method to identify this range ?

    ReplyDelete
  2. XRtrader1
    Read
    http://niftynirvana.blogspot.in/2012/07/initial-range.html

    ST

    ReplyDelete
  3. Thanks ST, becoming fan of yours. Everyday I wait for your post :).

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  4. ST one more question. Why you didn't traded BOF (BRN).
    I understand you covered shorts .
    Suppose you where flat would you have traded BOF of BRN ?

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  5. Hi ST,

    Why did you not take the trade for BOF of BRN (where you covered your short)? My logic was that the trend was up for the day, and Nifty had bounced from BRN in the first half, but it did not work and got stopped out. Your thoughts?

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  6. Xrtrader1
    Anon.

    Normally, I may skip that long.
    There was a BOF a green pin bar. But no follow up buying. Then a BPB signal came.But it was not a tradeable one due to PDH and DO. This BO also failed. But it took half an hour to break above a very minor pivot. It shows lack of commitment.
    Not much space. IRH may act as a flip. Further cant expect a lot of SL orders. Most of the shorts were created during the down move from IRH to BRN. They are not going to keep their stops above this negligible pivot.

    ST

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  7. Hi,
    Today i took both of these trades, but added one more , which ended up taking my SL.

    I have also started writing daily after your suggestion. It has been more than a month (from Oct-13) & I have felt that It gives more confidence writing & looking at the trades.

    Thanks to you..

    Although, I also use Bollinger Band with BOF, BPB as my strategy, you can plz give your feedback after checking my charts at

    http://www.tradewithdeven.blogspot.in/

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  8. Deven

    Nice Blog.
    Do not stop writing. Don,t worry about the readership and visitors.If you are providing something valuable. People will come

    ST

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  9. Congrats ST!

    So many people are now using your method and a few have started their own blogs to log their trades - xtrader and Deven. I wish them all the best.

    Regards,

    ss

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  10. hi sir,

    pls mail to my id:
    guruvenkatesh2007@gmail.com,

    i plan to leave my job and take the daytrading as career, it is possible ??
    i want your suggestion..
    pls mail me sir or give one miss call sir (i am waiting)
    venkatesh
    9884740822
    chennai

    ReplyDelete
  11. venkatesh

    mailto niftynirvana at g mail

    ST

    ReplyDelete
  12. Sir,
    I trade on ur method for last couple of month..i trade on yes bk,r cap, indusbk..Can u plz clarify how i gauge their MSP,BRN correctly..plz guide .thank u.

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  13. sentu

    MSP is the high/low of the last impulse wave in the direction of trend
    Look for option strike prices for BRN

    ST

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  14. thank u sir.do it applicable for all circumstance..?

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  15. sentu

    I traded the method only on NF
    So I am not sure

    ST

    ReplyDelete

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