Nifty Gaped down below PDL.A counter trend outside gap.I was looking to short.But price managed to climb above PDL Went long on BOF of PDL on break of IRH. This trade failed immediately. Exited below PDL. Short below DO. IRL was the FTA. Price got some support at IRL but BRN 6300 gave way. TP at 6280 level when the second push down failed. Nifty formed a range. another short on BOF of range high.Did not move as expected. Exit at LOD
Dear ST,
ReplyDeleteThe bias was bearish as it opened below PDL so why did you go long ?
Thanks and Regards,
Sid
Sir,
ReplyDeleteToday went short on BOF of PDC and exit when DL tested for the second time.
I been a 18hours a day net surfer, to hunt systems. Only DP method that I can act upon.
There are many people run blogs who act like astrologers with jungle of numbers and crowded charts. They are Mr.Strangles & Pivot masters, saying strength above and weakness below, where ever market goes come and clime the price.
But real Hero is someone who is running Nifty Nirvana.
Today I permanently left the Square 1. It took lot of time. Removed all other stuff form the system and book marks.
Now, More Practice and More Performance only.
Raghu
Hi ST
ReplyDeleteNice trades.
Thanks
TBP
Sir, Its not PDC its PDO.
ReplyDeleteSid
ReplyDeleteI suspected an attempt to close the gap and took a chance as the order triggered above the small range
ST
good evening sir' today i took short position below of previous days low and covered at 6305 when NS hit 6300 and short again below of BRN covered at around 6280 as you mentioned and try to short again below of days low @6273 finally my small SL 6277 triggered sir anything wrong my today's trade
ReplyDeletesir where was your sl of 2nd short attempt @6295......? replay me pls
ReplyDeleteRaghu
ReplyDeletePDC and PDL are same for me as I ignored tails.
Trading is chicken sexing.
http://niftynirvana.blogspot.in/2012/02/chicken-sexing.html
ST
Anoop
ReplyDeleteI rarely allow the market to hit my stops.If I feel the market is not moving my way I exit.
For the second trade my stop was above BRN 6300.
Be careful with the trend trading mindset. You can ride the trend trailing if you entered it early.
Do not sell after a lot of selling has taken place and do not attempt to buy after a lot of buying.
ST
raghu i know that you speaking on whom but you have a point.
ReplyDeleteGV
Sir good evening , sir kindly update the reason for taking the entire tail to mark IRL thnx
ReplyDeleteSir,
ReplyDeleteThanks for that “angle” to look at trading as Johann once said “Intuition is the clear conception of the whole at once.”
GV
Pal, then it’s a time to become an astronaut from astrologer.
AMBER
I think if the price reacted at DO then it could have been considered as IRL, sir am I right?
Raghu
Amber
ReplyDeleteTails are always very tricky. We will never know where the orders are. Usually for old levels we ignore the tails and only consider the body.
For new levels especially we want to ride the stop triggering, ignoring the tails is not the right way.Because nobody is going to place their stops beyond the body. Stops will be always beyond the tails.
Generally we ignore the tails because we rarely trade breakouts
In today's case the IR was a MC. and for MC we consider Tails
ST
Hi ST
ReplyDeletethanks for the chart
Please check the image :-
http://s9.postimg.org/buh9ru0gf/trade24.png
rgds
kishore
Sir thnx
ReplyDeleteAmber
ReplyDeleteHave a look.
Hope it is clear
http://i43.tinypic.com/wmfqdh.png
ST
thanks raghu one day I will be,
ReplyDeletemaster the summary of your reply to amber is what raghu said -if price reacted- the price will show us the Real DP.
GV
Kishore
ReplyDeleteNo. SL will be above HOD
Here DO is the First trouble area.
Situation no 4
http://niftynirvana.blogspot.in/2012/03/trouble-areas_14.html
ST
ST,
ReplyDeleteCould you please let me know why you wouldn't exit there ?
it looks like a swing high to me
it would be a big help if you could mark the candles where you exit in your future charts ..
thanks a lot
Kishore
Good Evening ST,
ReplyDeleteTwo most beautiful strategies of your trading......
1) 10 Point SL (Prevents to enter at unnecessary places & time)
2)I rarely allow the market to hit my stops.If I feel the market is not moving my way I exit.
Thanks a lot for sharing DP trading Strategy.....
Regards
Sanjaya
Kishore
ReplyDeleteDecision Points are not brick walls or energized fencing to stop price. They are zones and tolerate little overlaps and overshoots.Market is a place where a million people execute a million strategies.
Here price has not even retraced above your entry bar.Such nano swing pivots have no influence on price.Pay attention to the obvious and visible levels
ST
thanks ST
ReplyDeletergds
Kishore
Sir thnx very much
ReplyDeletesir, your home town pls....................
ReplyDeleteAnoop
ReplyDeleteI am from Kanippayyur
Thrissur Dist. Now settled at Thrissur
ST