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

Wednesday, May 28, 2014

28052014



Nifty opened within previous day range. IR formed . Traded the entire day within this 10 point range. Nifty attempted to break out of the range many times but failed. All the three trades failed to move. I was able to scratch all of them without damage to the account.
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18 comments:

  1. TrekkieMay 28, 2014 at 3:55 PM

    Hi ST,
    Where was your exit for trade 1 ?

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 4:01 PM

      Stopped out at BO bar low

      ST

      Delete
    2. TrekkieMay 28, 2014 at 4:19 PM

      ST,
      Thanks, I exited there as well, but I thought may be my exit was wrong and messed up the rest of the day, lost control of my mind :(

      Delete
  2. Uday DaveMay 28, 2014 at 3:57 PM

    Hi ST

    I tried too to capture the narrow range moves but not successful.

    Thanks.

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 5:02 PM

      URD

      It was just a 10 point range
      It is very difficult to trade such a range after trading hundred point ranges for a few days
      ST

      Delete
  3. UnknownMay 28, 2014 at 4:12 PM

    ST sir,

    I also traded ur 1st trade..but exited on break of IRL.. took extra risk..16 point loss

    Took 2nd long on BOF of PDC..exited with 6 point gain...missed short on BOF of IRH... I was tired by then.. :)

    Net net 10 point loss day...

    By the way..wats ur take on expiry day?
    Trade or no trade day?

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 4:18 PM

      Rose Mary

      I usually stay out at the afternoon session on expiry days

      ST

      Delete
  4. UnknownMay 28, 2014 at 4:16 PM

    Hi ST,
    Can you please mention your exits going forward even if hits SL or Scratched. It would be helpful for us.

    Thank you,
    Kiran.

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 4:52 PM

      First one below BO bar low
      Second one when price failed to go above 7330

      ST

      Delete
  5. TrekkieMay 28, 2014 at 4:37 PM

    Hi ST,
    Where did you exit the second trade? Did you trail? I messed up pretty bad in that area.

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 4:50 PM

      S Roy

      No trailing . When price failed to go above 7330, I just clicked square off button

      ST

      Delete
  6. UnknownMay 28, 2014 at 4:43 PM

    @Smart Trader
    Here my study for past two days...no trading.
    http://i.imgur.com/Yeuofq2.png

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 4:58 PM

      IRL of yesterday will be the first bar low
      PDH in respect of today action is not right, I think

      ST

      Delete
  7. BharatMay 28, 2014 at 5:42 PM

    ST,

    I also took the breakout of range at 1.15 looking to pressure play at IRL failed immediately was it wrong?

    Bharat

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 8:34 PM

      Not wrong.
      Only thing is you have to have a plan to exit if the trade fails

      ST

      Delete
  8. BharatMay 28, 2014 at 10:42 PM

    ST,

    What thought process you had ..at 1.15 for avoiding that pressure play... ?

    Bharat

    ReplyDelete
    Replies
    1. SMART TraderMay 28, 2014 at 10:57 PM

      Bharath
      A powerful LOL BOF at 10.45 was not able to move 10 points to the upside for the next 2-1/2 hours
      Further there was HOD , RN and PDH above this level. I was not comfortable to go long and decided to enter only above HOD

      ST

      Delete
  9. BharatMay 29, 2014 at 10:42 AM

    Thanks a Lot ST

    ReplyDelete

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