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

Friday, April 4, 2014

04042014


Nifty opened within previous day range. IR formed.Avoided the short below IRL. It was a nice SS trade opportunity. Price tested PDL twice and moved up. Long on break of IRL/RN into the fluid. TP near PDC.Went short on BOF of IRH and TST of PDC. A LOL.Covered at a small profit as price caught up within IR. Next down move was fast and furious. Could not catch it. Tried a long on BOF of PDL. RN/IRL was a barrier. I thought the fluid may help. Scratched it.
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25 comments:

  1. UnknownApril 4, 2014 at 4:16 PM

    Hi ST

    Market running out of ideas to move I guess. Love for the same DPs again.

    I took the same trades. Did not do a SS but suspected a PP on the first and on the second trade managed to hold on to the short trade and covered at PDL.
    Any pointers to that trade??

    Thanks and regards

    TBP

    ReplyDelete
  2. SMART TraderApril 4, 2014 at 4:33 PM

    TBP

    Why should the market move?
    I love trading these kind of orderly chop. Trend wallahs and Indi wallahs getting slaughtered left and right

    ST

    ReplyDelete
  3. UnknownApril 4, 2014 at 4:41 PM

    Hi ST

    True that Choppiness has increased but so far well defined.

    I want to swing trade too, how should I go about it??

    TBP

    ReplyDelete
  4. UnknownApril 4, 2014 at 4:45 PM

    wat is ss trade?

    ReplyDelete
  5. SMART TraderApril 4, 2014 at 4:56 PM

    Sudarshan

    http://niftynirvana.blogspot.in/2013/10/sniper-shots.html

    ST

    ReplyDelete
  6. SMART TraderApril 4, 2014 at 4:57 PM

    TBP

    Check stock bee blog for some good ideas

    ST

    ReplyDelete
  7. sentuApril 4, 2014 at 7:09 PM

    sir,
    Im writing this about ur last thread on ur blog..where u conveyed does it difficult to internalize..
    About that i think ur concept is well defined and well structured..every theory has some con and pros,ur concept also has some..and about my personal opinion i trade on ur method..but i trde on future stock..r cap,yes bk,tata motor..and its working perfectly,as u know on the way we need to tweak the concept as situation demand..as also other thing everyones brain function on different way..so they see the same thing on different way,so they also need to change theory ..its nothing that theory need to change..but its need to tweak as situation arise..as u can see if we need to go market ..give 10 people same route ..they will walk on diff way..some will take shortcut..some will go from main route align to right,some align to left,some will run,some walk slowly and some will reach after 30 min bcos they gossiping somewhere..hope i prove my point..thank u..but its ur theory thats earning me bread and butter..i trade on ur method from morning 9 to 2pm..earning 7-10 point...leave the market after that..
    its ur theory thats have the edge..thank u..

    ReplyDelete
  8. AnonymousApril 4, 2014 at 8:34 PM

    Hi ST,

    A Kind request. You are marking the trade pattern and the area where u took the trade. It is better if u mark the area where u scartch the trade. it would be helpful.


    Thanks
    Suresh

    ReplyDelete
  9. AnonymousApril 4, 2014 at 9:10 PM

    Hi ST,

    I have a clarification on last BOF trade. RN was very near the trade. Was there any reason for skip that.



    Regards
    Arun

    ReplyDelete
  10. AnonymousApril 4, 2014 at 10:12 PM

    Hi ST
    My trades
    http://tinypic.com/r/14icuw8/8
    Totally messed up

    rgds
    Kishore

    ReplyDelete
  11. UnknownApril 4, 2014 at 11:40 PM

    Hi Sentu
    could u post some charts of your trades.
    thanks

    TBP

    ReplyDelete
  12. Uday DaveApril 5, 2014 at 11:45 AM

    Hi ST

    Please look at this. It is the image of second trade.

    My query is regarding trailing the SL, which may end up as scratch or may be trailed further.

    http://i60.tinypic.com/mipet0.png

    Would you please throw some light as to where to ideally scratch it or if someone is willing to take risk how to trail it till maximum limit?

    Thanks.

    ReplyDelete
  13. Uday DaveApril 5, 2014 at 12:16 PM

    ST,

    Another one, same situation.

    http://i60.tinypic.com/207usue.png

    Thanks.

    ReplyDelete
  14. SMART TraderApril 5, 2014 at 12:31 PM

    Suresh

    Will do.

    ST

    ReplyDelete
  15. SMART TraderApril 5, 2014 at 12:35 PM

    Arun

    DPs are not brick walls
    http://niftynirvana.blogspot.in/2012/11/make-or-break-levels.html

    I took the trade because of the fluid above

    http://niftynirvana.blogspot.in/2013/03/fluids.html

    ST

    ReplyDelete
  16. SMART TraderApril 5, 2014 at 12:41 PM

    Kishore

    Really messed up.
    What happened in first trade? Trend trading mindset.
    You attempted 3 trades in a 10 point range.If you get stopped out somewhere stand out for a while. If you miss a trade let it go.

    ST

    ReplyDelete
  17. AnonymousApril 5, 2014 at 12:51 PM

    Yes ST
    Trend trading is in the blood ...
    I kept stop below MC and eventually missed the short ...

    Regarding the next trade ......
    I took the trade looking at the NF chart BOF of range...
    By chance i looked at the NS ...OMG BRN is just above ...So exited the trade ....

    Again started thinking using the NF chart big range I should join again (fearing that I will miss the move)..Long over NF RN ...scratched it ...
    Then thought like its friday , expected a down move so took the short .....

    Anyways learning from the mistakes ...Still havent put money .

    regards
    Kishore

    ReplyDelete
  18. SMART TraderApril 5, 2014 at 1:25 PM

    URD

    Simplify the approach
    You can exit a trade
    1.On FTC beyond a swing point which shows market is going to consolidate.
    2.At the next DP.If you think the DP is strong or a BOF happens there
    3.If you are sitting on a reasonable profit say 30-40 points

    Till then trail using swing points and flips. No body can perfect an exit strategy. The best action will be known only on hindsight.

    In this situation RN was also IRL and major flip. Exit as close to it as possible and look for a reentry if market moves further

    ST



    ReplyDelete
  19. sentuApril 5, 2014 at 10:33 PM

    Hi,
    Certainly i can do that Mr. TBP..
    Thank u..i will do that on monday trade..

    ReplyDelete
  20. sentuApril 5, 2014 at 11:03 PM

    Sir,
    i want to share this video with u..
    http://youtu.be/qmyKidgR--8
    thank u..

    ReplyDelete
  21. amberApril 6, 2014 at 1:03 PM

    Sir good afternoon ,sir can master candle can be considered on 15M and what should be the min. candles in it,kindly update thnx

    ReplyDelete
  22. SMART TraderApril 6, 2014 at 2:46 PM

    amber

    http://www.icharts.in/forum/files/the_nickb_method_master_candles_214.pdf

    ST

    ReplyDelete
  23. AnonymousApril 6, 2014 at 5:35 PM

    Hi ST Sir,

    First of all thank you for the book and the simple looking method. You are doing an exceptional job by helping many many aspirational people around the world.
    I tried trading 4 years back without any success so stopped it. I came across your book today. After reading this, I believe this is another opportunity for me to enter in trading. The important part I liked is about your daily analysis(This is what most of the people want). This is definitely helping all the newcomers in trading.
    My action would be to compare my analysis daily with yours and see where I stand in next few months. I will also start using NSE Pathshala to trade.

    Thank you again for your great help.

    SK

    ReplyDelete
  24. amberApril 6, 2014 at 6:10 PM

    Sir thnx

    ReplyDelete
  25. SMART TraderApril 6, 2014 at 6:20 PM

    SK

    Thanks for the visit
    Go through all the important posts given below the blog and internalize the concepts. It looks simple but is hard to trade

    ST

    ReplyDelete

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