Nifty opened above 6150. Went long above the first candle even though it was not a correct IR. The move surprised me. I expected a channel move till BRN only. Then it was a tight trading range rest of the day. Shorted BOF of range high. This did not move as expected.
Hi ST,
ReplyDeleteKept y'day high in my mind as the pace of the morning move was surprising. Just entered at the right time, which seemed to be a minor PB. TP at BRN which gave 40 Points.
I guess bulls were smoking that cigarette today!!!
Thanks,
VD
What was the stoploss for that 1st trade?
ReplyDeleteRaghu
hello sir,
ReplyDeletetook the BOF trade and shorted at 6221. and finally covered at 6230.
VD
ReplyDeleteNice trade
ST
Raghu
ReplyDeleteIt was below the first bar
I entered because it was a very high probability trade. Look at what happened to price at that area earlier
ST
Hi ST,
ReplyDeleteCould u plz clarify the initial range concept. I have read your post at the bottom on it but still want clarification..
thanks,
VD
Hi ST,
ReplyDeleteBOF trades how do you decide that its a good BOF to trade, if you see there is one more BOF before the trade you take
VD
ReplyDeleteI do not fix a time frame for the IR like 10 minutes,15 minutes etc.
Let the market trade and make its own range
ST
shubh
ReplyDeleteBOF should happen after a clear penetration of the level. We need a lot of BO traders to get trapped
Then there should be space for the trade to move
SCORE is important
ST
Dear ST,
ReplyDeleteI am a regular reader of YTC and I got your reference from there. I am new to day trading. Seeing your daily charts i didnt understand the terminologies used such as "BRN", "MSP" etc. Can you provide a post for all the shortforms then it will be good for the newies.
Regards,
DM
Dinil Mathew
ReplyDelete“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you."
Mathew 7:7, Holy Bible.
There is a glossary and list of important posts below the page
Thanks for the visit and comment
ST
ST
Dear ST,
ReplyDeleteThanks for the reply. Sorry that I didnt checked the bottom blogs. And now I feel like this is the right place for me to learn and feel the market.
I dont know whether its the right place to ask this question. I have 1 doubt that I couldnt able to find answer. Why people are trading futures particularly Nifty on intraday as brokerage itself will come around Rs.200 (4 pts) for a single trade(entry & exit). Instead they could have traded stocks (intraday basis) where u can decide the number of stocks (instead of lot) and control risk more efficiently.
Regards,
Dinil
ReplyDeleteSingle trade in NF will cost less than Rs 100/-. Change your broker.
I do not risk more than 10 Nifty points on a trade. It is just Rs 500/-
Amateurs and investors operate in stocks and it is very difficult to anticipate what they are going to do.
Futures especially index futures are controlled by hard core professional traders and their actions are more or less predictable
ST
Nice explanation ST,
ReplyDeleteDinil, check out zerodha.com
thanks,
VD
dinil mathew ,in RK Global nifty futures brokerage works out to only Rs 50/
ReplyDeleteDear All,
ReplyDeleteI am so much excited about the help and support provided by you people. Thanks a lot for the quick and prompt replies. And ST a big salute to you for maintaining a nice place (blog) to meet so much nice persons.
Regards,
Hi VD
ReplyDeleteare you a zerodha trader?
which chart do you use?
Sudhanva.
Sudhanva,
DeleteFor a dialogue, plz post on my blog. ST may not appreciate a dialogue being run here.
Thanks,
VD
hi dinil,
ReplyDeleteplease try www.compositedge.com
they are for more advanced and better than zerodha as -
-they will give you a trade @ 18 rs per order (unlimited)
-once you reach 2500 in brokerage they will make your data feed FREE (worth of 900)
-they all kind of automation and algo,s whichis out of the box and for more advanced than simple NEST and everything is approved from all relevant exchanges
- they do all these based on association INDIA's best auto platform called www.symphonyfintech.com
more importantly they almost automated ST's strategy and its available FREE.
Good Luck
Raghu
Hi ST,
ReplyDeleteIt would be nice if you could recommend some brokers for FnO.
Thanks
BVJ
See if some one trading 5-8 trades a day like me with 35000 to 50000 in account any time for them
ReplyDeletewww.sasonline.in/rs999unlimitedtradingplan.htm is best.
As 5 trades a a day will result in 50000 (5*40*250 trading days app) a year, but using above is 12000 a year while you can buy 2-3 insurance policies to protect your family with saved 38000!!!!
hope it helps to many
Babu
ReplyDeleteThere is a thread on Tradeji forum
http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparision.html
Check it
ST
ST,
ReplyDeleteNice blog. Appreciate the effort you have and are putting in to share your knowledge.
Can you elaborate on this comment "...Look at what happened to price at that area earlier"
Which date and what are you referring to?
Thx again,
DM
DM
ReplyDeleteI do not remember.
It was long back. Might be a Fluid
ST