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

Friday, January 24, 2014

24012014



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

25 comments:

  1. Dear ST,
    The bias was bearish as it opened below PDL so why did you go long ?

    Thanks and Regards,
    Sid

    ReplyDelete
  2. Sir,

    Today 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

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  3. Sir, Its not PDC its PDO.

    ReplyDelete
  4. Sid

    I suspected an attempt to close the gap and took a chance as the order triggered above the small range

    ST

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  5. 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

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  6. sir where was your sl of 2nd short attempt @6295......? replay me pls

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  7. Raghu

    PDC and PDL are same for me as I ignored tails.

    Trading is chicken sexing.
    http://niftynirvana.blogspot.in/2012/02/chicken-sexing.html

    ST

    ReplyDelete
  8. Anoop

    I 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

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  9. raghu i know that you speaking on whom but you have a point.
    GV

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  10. Sir good evening , sir kindly update the reason for taking the entire tail to mark IRL thnx

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  11. Sir,

    Thanks 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

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  12. Amber

    Tails 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

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  13. Hi ST
    thanks for the chart
    Please check the image :-
    http://s9.postimg.org/buh9ru0gf/trade24.png

    rgds
    kishore

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  14. Amber

    Have a look.
    Hope it is clear
    http://i43.tinypic.com/wmfqdh.png

    ST

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  15. thanks raghu one day I will be,
    master the summary of your reply to amber is what raghu said -if price reacted- the price will show us the Real DP.
    GV

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  16. Kishore

    No. 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

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  17. ST,
    Could 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

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  18. Good Evening ST,
    Two 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

    ReplyDelete
  19. Kishore

    Decision 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

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  20. thanks ST

    rgds
    Kishore

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  21. sir, your home town pls....................

    ReplyDelete
  22. Anoop

    I am from Kanippayyur
    Thrissur Dist. Now settled at Thrissur

    ST

    ReplyDelete

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