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

Monday, March 31, 2014

31032014


Nifty gaped up above PDH. IR formed. Price failed to go above IRH. Avoided the short as  RN ,NS BRN and PDH was below. Price traded between RN and PDH for a long time and broke down. Went short. Covered when the second push down terminated at 6710. I was hoping a move till BRN.Long on break of the swing high . I was looking for a quick trade to PDH but price traded in between for a long time and went up breaking PDH. Covered at a 20 point profit
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33 comments:

  1. UnknownMarch 31, 2014 at 3:44 PM

    Hi ST

    Shorted below IRL and RN.
    Was the trade correct??

    Plz click here

    Thanks
    TBP

    ReplyDelete
  2. DhadigaMarch 31, 2014 at 3:49 PM

    BO IS OF MSP?

    ReplyDelete
  3. SMART TraderMarch 31, 2014 at 3:53 PM

    TBP

    Knowing where price can have a bounce is important. If you are prepared to deal with such a situation, you can take any trade.

    Here PDC/PDH was the major barrier and it gave support for a long time.

    ST

    ReplyDelete
  4. UnknownMarch 31, 2014 at 3:59 PM

    wat is PP?

    ReplyDelete
  5. Uday DaveMarch 31, 2014 at 4:14 PM

    Hi ST,
    What else gave you confidence to go for that last BO trade apart from order flow?

    Thanks

    ReplyDelete
  6. AnonymousMarch 31, 2014 at 4:25 PM

    Hi ST

    How to identify PP breakout..?

    Naveen

    ReplyDelete
  7. SMART TraderMarch 31, 2014 at 4:30 PM

    Dhadiga

    Yes. But entry was above the consolidation high

    Naveen, Sudarshan

    http://niftynirvana.blogspot.in/2013/05/pressure-plays.html

    ST

    ReplyDelete
  8. SMART TraderMarch 31, 2014 at 4:32 PM

    URD

    I was expecting a much more powerful up move. Year end NAV manipulation by the funds

    ST

    ReplyDelete
  9. nirtosMarch 31, 2014 at 6:10 PM

    Hi St,
    http://screencast.com/t/bww9b7Jd

    I am referring to your yesterday post of procedural memory ( stock bee ) and feel lucky enough to get a mentor in the form of your blog.

    Thanks a lot.
    Nirtos

    ReplyDelete
  10. AnonymousMarch 31, 2014 at 6:14 PM

    Hi St,
    did u place your order for pp above consoldiation and RN also (in case if there is upside breakout.

    Nirtos

    ReplyDelete
  11. AnonymousMarch 31, 2014 at 6:26 PM

    ST,
    BOF of pdc , brn ns & pdh didn't trigger buy..?

    Ravi

    ReplyDelete
  12. SMART TraderMarch 31, 2014 at 6:43 PM

    Ravi

    Trade need space to move.Most of the traders mechanically trade their signals and lose money.
    You identified the signal but failed to notice whether there is enough space.
    With a swing high,RN,IRL,and IRH above it where it will go?

    http://niftynirvana.blogspot.in/2013/07/space.html

    ST

    ReplyDelete
  13. AnonymousMarch 31, 2014 at 6:47 PM

    Hi ST
    http://tinypic.com/r/30a6kgh/8

    Bad exits :(

    rgds
    Kishore

    ReplyDelete
  14. SMART TraderMarch 31, 2014 at 7:12 PM

    Nirtos

    No.I was expecting a break to the down side. Even the BOF of PDH was not able to take the price to the other end.
    There were 4 rejections from PDC/PDH. These were getting weaker and weaker. In fact these are the patterns to look for while trading big.
    First enter a SL buy order above RN and sell as close to it at every rise. Then Kabooooom


    ST


    ReplyDelete
  15. SMART TraderMarch 31, 2014 at 7:32 PM

    Kishore

    What is the line marked as MSP. Isnt that a previous day level? There is no relevance for that. MSP is a swing pivot the break of which is considered as trend change. Here after the gap up people will look at IRL or PDC to change their bias

    You exited the trade at MSP of today,s fall I think.Should have exited above that last pin bar. If you get a reasonable profit say 25 points just exit and look for a re entry

    ST

    ReplyDelete
  16. AnonymousMarch 31, 2014 at 7:47 PM

    Hi ST
    Wht about my exit for the long..I exited below MC.As soon as my sl hit price BOOOM

    Rgfs
    Kishore

    ReplyDelete
  17. AnonymousMarch 31, 2014 at 7:54 PM

    ST,

    Thanks for the suggestion I didn't observe the RN & IRL..

    Ravi

    ReplyDelete
  18. SMART TraderMarch 31, 2014 at 8:25 PM

    Kishore

    Watch Pic no 9
    http://niftynirvana.blogspot.in/2013/10/initial-stops.html

    Most of the time price will pull back to the consolidation high

    Where is the MC?An MC at some place is not valid. MC should be the BO candle

    http://niftynirvana.blogspot.in/2013/01/master-candle.html

    Further the flip of your entry point held well. You should have allowed a little room

    http://niftynirvana.blogspot.in/2012/09/price-flips.html

    ST

    ReplyDelete
  19. AnonymousMarch 31, 2014 at 8:54 PM

    Hi ST,

    Is there any logic behind choosing your trading timeframe as 3 mins?

    Thanks
    Karthik

    ReplyDelete
  20. SMART TraderMarch 31, 2014 at 9:00 PM

    Karthik

    I started trading the Lance Beggs method and I started using 3M as he does.
    Later tried 5M and found that signals are bit late for my comfort and reverted back to 3M

    1M is too fast for me to follow

    ST

    ReplyDelete
  21. AnonymousMarch 31, 2014 at 9:05 PM

    Mutual fund nav manipulation? Something very new concept will u explain if u feel necessary.


    Thanks
    Arun

    ReplyDelete
  22. Uday DaveMarch 31, 2014 at 9:05 PM

    Hello ST

    Regarding ranges, please have a look at this,
    http://i58.tinypic.com/33vggud.jpg

    It is of 03/12/13. Marked two main ranges A and B. Within A initial range (WRB), marked micro ranges.
    Please confirm my understanding regarding ranges. If wrong please correct it.

    Thanks

    ReplyDelete
  23. AnonymousMarch 31, 2014 at 9:45 PM

    Hi ST,
    Thanks
    These posts making more sense now than before .
    Planning to revisit all the posts during this weekend


    thanks n rgds
    Kishore

    ReplyDelete
  24. SMART TraderMarch 31, 2014 at 10:17 PM

    URD

    What you have drawn is theoretically correct.But in practice,that kind of micro managing will create problems.Market is a place where a million people execute a million strategies. So allow little overlaps and overshoots and take what is obvious
    A.WRB is a probable range.
    1.Fall stops in the middle of WRB.Probable range get reduced.
    2.BOF of Range High.A pin bar just an overshoot of stop triggering. Range Remains same.
    3,4 no need to revise. BOF happened and price is inside the range.
    5.This one also a BOF
    6.Range BO happens.Here the old Range gets extended a little bit to the BO point.The reason is this will act as a flip when price returns.
    In this example if you are taking a FTC trade at HOD, you may think price will reach your range B bottom. This will not happen
    You will miss a TST trade if you want to take it. So range B is BO point to HOD.
    Then a BOF at the top and at the bottom happens.Most of the time you can ignore tails unless you are going for a direct BO
    In markets nothing is certain. We need to operate in an uncertain environment and go on revising the levels. Do not try to apply rigid rules

    ST


    ReplyDelete
  25. AnonymousMarch 31, 2014 at 11:08 PM

    Super

    ReplyDelete
  26. Uday DaveMarch 31, 2014 at 11:21 PM

    Thanks ST

    "range B is BO point to HOD" cleared my doubt, which was the sole purpose for this exercise.

    Thanks.

    ReplyDelete
  27. AnonymousApril 1, 2014 at 10:51 AM

    Hi ST,
    is iCharts up?
    investbulls site is down

    rgds
    Kishore

    ReplyDelete
  28. AnonymousApril 1, 2014 at 11:00 AM

    Hi Dave
    If possible could you please upload the image again with the correct range B.?

    thanks n rgds
    kishore

    ReplyDelete
  29. SMART TraderApril 1, 2014 at 11:36 AM

    Kishore

    Ichart is working

    ST

    ReplyDelete
  30. AnonymousApril 1, 2014 at 11:50 AM

    ok ST,
    investbulls still not up :(

    rgds
    Kishore

    ReplyDelete
  31. Uday DaveApril 1, 2014 at 11:54 AM

    Hi Kishore

    http://i58.tinypic.com/34o20py.jpg

    Highlighted the correct range B. As ST says you can ignore the tails.

    thanks

    ReplyDelete
  32. AnonymousApril 1, 2014 at 12:06 PM

    Thanks Dave


    rgds
    Kishore

    ReplyDelete
  33. Uday DaveApril 1, 2014 at 12:26 PM

    Kishore,

    See how magically the range works

    http://www.mql5.com/en/charts/1673256/nse-nifty-m3-gci-financial-ltd

    ReplyDelete

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