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

Wednesday, November 27, 2013

27112013

Nifty opened above PDC and sold. Skipped the BPB of PDL /PDC as 6050 of NS was very near. Shorted the BOF of MSP and TST of PDL. Covered this when price refused to go below the range low. Went long on the BOF of LOD. ( wronly marked as HOD) scratched when it bounced back from PDL. Long on the BO of PDL . Covered at HOD. Another short on BOF of HOD. TP at PDL.
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14 comments:

  1. UnknownNovember 27, 2013 at 4:28 PM

    Hi ST,

    Shorted today when price didnt go above PDC. Added another when prices touched 6050 and again tested PDL.
    Covered both when prices formed DB at day's low.. How can be the trades different?

    Thanks,

    VD

    ReplyDelete
  2. AnonymousNovember 27, 2013 at 5:09 PM

    masterclass trades!!
    Last trade is classic.

    will you wait for the candle to close? how you initiate such trades?
    next candle open? how?

    Raghu

    ReplyDelete
  3. SMART TraderNovember 27, 2013 at 9:35 PM

    Raghu

    Entries are very simple.
    14.48-price test HOD and bounce. Selling is there
    14.51-Flip zone extend support
    14.54-Entire red WRB retraced. Buying again
    14.57-Break above HOD
    15.00-Price still above HOD.There is rejection. BO may fail
    Place a sell order below the BO bar low that is 6073.75. Here sell at 6073.00 with trigger 6073.50
    15.03. order not triggered
    15.06 moving up forming a minor swing pivot
    15.09 Rejection again. order triggers
    Time is not right. Already too late. If price bounces from PDL ready to exit.
    Price breaks PDL but bounces back
    Exit clicking square position button. Just 8 points

    ST

    ReplyDelete
  4. SMART TraderNovember 27, 2013 at 9:39 PM

    VD

    Nice trade
    Ensure there is space for the trade to move

    ST

    ReplyDelete
  5. AnonymousNovember 27, 2013 at 10:03 PM

    Dear ST,

    The BOF of LOD that you took, I was looking to enter there but was considering FTA above your entry price, but it did not leave a better RR ratio to enter. You did not consider that as a FTA??

    http://tinypic.com/r/28bf8yq/5

    ReplyDelete
  6. SMART TraderNovember 27, 2013 at 10:44 PM

    Anon

    http://i40.tinypic.com/v42dsm.png

    Please do write your name when commenting.

    ST

    ReplyDelete
  7. AnonymousNovember 27, 2013 at 11:07 PM

    Dear ST,

    Thanks a lot for the explanation. BO bar falling onto itself...that seems PA worth keeping in mind.

    Also ST, you have mentioned it previously that you have not attempted this method on stocks(volatile). I was back testing this method on stocks... IRH/IRL seems to be important levels followed by traders. Also BOF of LOD/HOD seems to be working mostly. I am sure you must have come across this. If you can share the hindrances and blocks that you faced applying this method to stocks.

    Harpreet

    ReplyDelete
  8. SMART TraderNovember 28, 2013 at 8:39 AM

    Harpreet

    I have not tried the method with stocks
    Individual stocks are influenced by the sector move and broad market move to a great extend. Further some of the sensitive sectors like banking is highly influenced by news flow. This makes trading difficult

    ST

    ReplyDelete
  9. AnonymousNovember 28, 2013 at 8:43 AM

    Thanks a lot! you almost sounded like a robot.

    Raghu

    ReplyDelete
  10. ArvindNovember 28, 2013 at 9:53 AM

    Sir , What is 'PP' in your chart?

    Thanks

    ReplyDelete
  11. SMART TraderNovember 28, 2013 at 10:06 AM

    Arvind

    http://niftynirvana.blogspot.in/2013/05/pressure-plays.html

    ST

    ReplyDelete
  12. amberNovember 28, 2013 at 10:25 AM

    Sir good morning sir kindly update the inference of 6050 nifty spot thnx

    ReplyDelete
  13. SMART TraderNovember 28, 2013 at 10:49 AM

    Amber

    After the introduction of XX50 option strikes, these levels have started acting like BRN especially near expiry

    ST

    ReplyDelete
  14. amberNovember 28, 2013 at 11:09 AM

    sir thnx very much

    ReplyDelete

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