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

Monday, April 28, 2014

28042014


Nifty opened near PDC. First candle acted as IR. Skipped the BOF of IRH as there were three supports below . PDL/IRL, BRN and NSRN 6750. Long on BOF of BRN, PDL. Trade did not move scratched. Attempted two more trades. BO of IRH and BOF of IRH,PDC.These trades also failed. Scratched.
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18 comments:

  1. NPA TraderApril 28, 2014 at 3:46 PM

    Dear ST

    I am posting my trades for the past one week in my blog. please visit and give your comments. my blog url - http://nsemcxpriceaction.blogspot.in/ -- adhi narayanan

    ReplyDelete
  2. UnknownApril 28, 2014 at 3:52 PM

    Hi ST

    Entered the PP trade as a limit order buy at 6822 and TP at 6840 as was expecting some resistance overhead.

    Thanks

    TBP

    ReplyDelete
    Replies
    1. SMART TraderApril 28, 2014 at 4:03 PM

      TBP

      Nice Trade
      How did you exit? Like SS trades?

      ST

      Delete
    2. UnknownApril 28, 2014 at 7:49 PM

      Hi ST
      I was not that bullish today and expected 6850 to be a stiff resistance.
      My target was 20 points so exited around that.

      TBP

      Delete
  3. kishoreApril 28, 2014 at 6:36 PM

    Hi ST,
    Todays Trades :- http://tinypic.com/view.php?pic=2lca9zo&s=8#.U15PcKLTq6I
    -15 points

    Trade 1 :- BPB IRL below BRN .I thought NSRN and BRN are aligned
    Trade 2 :- BOF as you took
    Trade 3:- PP
    Trade 4 :- BOF of the other ectrem of the range
    Trade 5:- PP as you took
    Trade 6 :- same as yours

    On self review I think I should avoid trade 3 and 4 by taking in to consideration the concept of Envelopes.
    Usually I take only 4 trades but as I scratched the trades and my points were within my -20 limit i took the last two trades ...

    Please comment on my trades , especially on the 1st 3rd and the 4th one ..Was there a slight chance for you taking those trades..

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderApril 28, 2014 at 7:46 PM

      Kishore

      1 BPB trade to a LOL is always low probability trade.
      3 is also low probability. Trading into a strongly held level
      4.is again into a strong level.
      Avoid BO trades on range days and trade the extremes
      ST

      Delete
    2. kishoreApril 28, 2014 at 8:19 PM

      thanks ST

      Delete
  4. shreeApril 28, 2014 at 8:39 PM

    Hallo,
    Why not BOF of PDC on 11th candle and BOF of BRN @ around 6800?

    ReplyDelete
    Replies
    1. SMART TraderApril 28, 2014 at 9:53 PM

      Shree
      It was not a BOF Just a TST. No body will try a long above PDC and get trapped. All long orders will be above previous day swing high at 6832 level.Cant expect order low from trapped traders. Notice candles 1,3,5,6 with lower tail rejection. I suspected buying at the level.Logical short location is below 11th candle. Then I did not find enough space.
      I have entered long on BOF of BRN. it is marked on the chart.Scratched the trade later

      ST

      Delete
  5. shreeApril 28, 2014 at 10:42 PM

    Sorry was reffering BOF of IRH...
    You marked BOF of BRN but trade taken on confirmation of BOF of IRL/PDL?

    ReplyDelete
    Replies
    1. SMART TraderApril 29, 2014 at 1:04 PM

      Shree

      BOF of BRN long .Situation 4
      http://niftynirvana.blogspot.in/2012/03/trouble-areas_14.html

      ST

      Delete
  6. UnknownApril 28, 2014 at 11:37 PM

    SMART Trader,
    Sent an email and also a PM on traderji. Awaiting a reply.

    Thanks
    Manjunath

    ReplyDelete
    Replies
    1. SMART TraderApril 29, 2014 at 1:09 PM

      Manjunath

      I have not received them
      Please check

      ST

      Delete
    2. UnknownApril 29, 2014 at 5:48 PM

      previously sent at smarttrade@ymail.com. Will send you again @ niftynirvana@gmail.com . Btw, is it possible that i send a mail and you never receive at your end?

      Delete
  7. UnknownApril 29, 2014 at 1:20 PM

    This comment has been removed by the author.

    ReplyDelete
  8. TrekkieMay 2, 2014 at 7:56 AM

    Hi ST,
    What do you see on the chart before you decide to scratch any trade? Could you please share?

    ReplyDelete
    Replies
    1. SMART TraderMay 2, 2014 at 9:10 AM

      S Roy

      Every trade begins as a scalp to the FTA.
      Once price struggles to cross FTA it is time to be cautious.
      usually my entries are on break of a formation like a minor pivot. once broken this flip should hold.
      Even though my initial stop is beyond the extreme, I will consider scratching if price crosses back to the other side of the the DP convincingly. There is no other way ,but to accept the uncertainty Some times market will run 50 points after my scratch .I take a decision with the available information and act and accept the responsibility.
      I don't care as long as I win more than I lose

      ST

      Delete

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