Nifty gaped up above PDH and moved up without a pull back. There was a BOF of BRN.Can also be considered as FTC after a vertical move. Hesitated for a while and missed the trade. There were too many levels to watch for to the downside. Went short on break of DO.Ignored PDH as I expected a lot of stops below DO. TP at PDC as there was no momentum as expected. Did not attempt any other trade.
Hi ST,
ReplyDeletePlease have a look at the trades on chart and give your valuable comments.
http://www.mql5.com/en/charts/1608927/nse-nifty-m3-gci-financial-ltd
Thanks.
URD
ReplyDeleteNo problem with trades.
Be careful with NS levels. Due to premium/Discount these levels are a little bit vague.Usually I use them for trade management
ST
may i know wat is NS RN?
ReplyDeleteSudarshan
ReplyDeleteNS BRN and NS RN represent Option strikes ending 00 and 50 respectively of Nifty Spot. Nifty Future levels will vary as per premium/discount
ST
Arun
ReplyDeleteI took a long at 6477 without consider NS RN than it seems there was some imbalance exited at 6482. Again after crossed NS RN long at 6488 and squared off near brn considered ftc. Today it seems like barbed wire after toughing the BRN?
Thanks ST.
ReplyDeleteRegarding NS level, today there was no IR to deal with. There was a big 50 point initial up move and pull back. At that time, you would notice that NS RN was right in the middle of that range. Price pulled back to NS RN and halted there. Initially i thought of not fiddling with the middle and let it go, but could not resist myself, and finally took that long trade.
The second trade i took only because i perceived it as Power play. Critical mass had gone long in the morning, prices were making lower highs and lower lows. I thought of order flow below it. Also there was 20 points of fluid below it till DO/PDH/BRN.
This was the thought process behind those trades.
Thanks.
How can we determine NS RN and NS BRN?
ReplyDeleteHi St,
ReplyDeletemy todays trades are at http://screencast.com/t/A0jzPWQO
. a bad day for me . but if we see ns spot then my sl are safe http://screencast.com/t/jq4bL83oh
. How to trail sl after entering the trade is tough for me.
nirmal
Hi ST,
ReplyDeleteI have Published a article about your BOOK on my BLOG.
http://www.traderadda.com/2014/03/free-e-book-decision-points-trading.html
Thanks and Regards
SAM
ST forgot to mention:
ReplyDeleteBelated Holy wishes. Trade and Prosper.
Thanks for the posts.
Arun
ReplyDelete64xx?
Think it is 65xx
There was no barbed wire. Nifty was just trending down. As per the method you need to keep the SL behind a DP
ST
URD
ReplyDeleteNice Trade.
Sometimes we will fail to notice some clues and sometimes we will get it all wrong. It is all in the game. For that we have stop losses
ST
Anon
ReplyDeleteFor that we have to look at Nifty spot values.Need not look at charts . You can see it on your trading platform
ST
Hi ST
ReplyDeleteMy trades today ...
please have look
http://tinypic.com/r/zuqxw4/8
rgds
Kishore
Nirmal
ReplyDeleteTrail stop behind DPs and swing pivots.
ST
SAM
ReplyDeleteThanks for the link.
Where had you been?
ST
ST,
ReplyDeleteThanks for remembering me ... :)
Yes I have not commented .. from many days.. but I am visiting your blog when I was getting time.. as I was busy with some other works.. so away from Trading... Now resumed...
Regards
SAM
Kishore
ReplyDeleteGood trades.Keep it up
Survival should be the first priority.Remember Chinese Bamboo
http://niftynirvana.blogspot.in/2012/02/chinese-bamboo.html
ST
Yes ST..
ReplyDeletenice one ...Some how missed that post
rgds
Kishore