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

Friday, March 7, 2014

07032014


Nifty Opened  above PDH and moved up. Went long on IRH break. TP at NS BRN. Price suddenly fell and got support at BRN.BOF of BRN was a good signal. But I was scared to go long in the light of previous fall. I thought being Friday, Market may reverse. Missed this 50+ point up move.

9 comments:

  1. I too missed the BOF of BRN for the same reason.

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  2. Sir,

    I have observed that you normally go for direct BO, when a Range High/Low is tested for third time. Today, you have taken the direct BO on the second testing of IRH. You have successfully taken Direct BO yesterday and on 4/3/14 too, when RH was tested for the second time.

    One common thing, I can see on all these three occasions is that there was a Higher Low. Was that the factor that influenced your decision? Any other reason for this direct BO?

    Thanks.
    S.Karthikeyan

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  3. Hi ST
    I took the long trade that you took..
    But after that I took a short trade as BPB of BRn NS BRN LOL ...
    Got Stopped.
    saw the trapped and reversed above the swing high above BRN...

    The stop was a CT trade right ..
    I was the last man to short there

    your comments pls

    rgds
    Kishore

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  4. ST
    And how did you feel when you missed the move ...
    Cool mind or had some feelings at that time?
    Just wanted to know whether by experience things can be managed
    rgds
    Kishore

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  5. St
    Read the stop as SHORT in my previous comment

    thanks
    Kishore

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  6. SK

    Today I thought there will be a pull back after the break of RN.
    I trade BO very carefully. Number of test has nothing to do with BO. Whether there is enough order flow to support our entry or not is the question. If the critical mass is getting trapped I will go for direct BO. If there is momentum in the direction I will go for it.

    In the case of IR, you can always take a little more risk to capture a trend move from the beginning.

    ST

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  7. Kishore

    Nothing wrong in your trade. Everybody will look to short here thinking that the market is going to reverse.I escaped it by a tick and you got trapped by a tick.It is all in the game.
    You could exit and reverse the trade instead of hoping that the price will come down. It shows you are maturing as a trader.

    Focus on execution consistency and trade small. Slowly it will be like playing a video game.Market will give you opportunities day after day. If you miss one today, you may catch two tomorrow

    ST






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  8. Sir,
    Thanks for the guidance.
    S.Karthikeyan

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  9. thanks ST,
    Yes now i have started seeing ranges and their plays ...
    thanks to you ...



    thanks
    Kishore

    ReplyDelete

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