There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, July 2, 2014
02072014
Nifty gaped up above PDH and BRN 7700. Went long on BPB of BRN. Covered when price fell below NS BRN. Did not take any other trade as price was ranging with NS BRN and RN 7750 in between.
Most of the time you may not get correct entry patterns for TST We have to take blind touch trades. That is why I am not encouraging such trades Never attempt CT TST entries.
Sir, Didn't u think of scratching the trade as it was not showing strength after entry and fell back inside bo zone ? True, it was a gap up opening, but first three candles were bearish and gave a feeling that it might just fill the gap.
Price has broken out of a range after 2 days of range move. So thought it will trend. On such situations no other way but to pre accept the risk and sit tight
I also took this trade, as IRH BO.. but exited as NF back into range.. idle SL should be LOD (7703) or BRN.. which makes SL big, 15 points.. hence i scratched the trade.
Not sure if you got my comments earlier.. sending it again
ST, I took 2 trades today. First trade was BPB of IRH. I wanted to avoid the direct BO of IRH (terminal opening high was 7719). I entered at 7722 (9:59 AM) and exited at 7728 (10:50 AM). My second trade was TST of IRH and entered at 7725 (11:25 AM) and exited this at 7747 (1:47 PM). I did not enter short at 7745 (2:00 PM) as at that time as I was expecting bounce back from 7740 levels. After that, I did not go long at 7748 (2:20 PM) after the market tested 7740 twice, as RN and the DH were nearby. Moreover, market was already very high and so expected BOF of day's high (at that time DH was 7755.80 - 1:38 PM candle). As usual, would appreciate your comment..... just want to make sure that my thought process development is right..... execution and trade management will become better with the screen time...
It was not the direct BO of IRH. It was the BPB of PDH/BRN Second TST trade was a good trade. Do not attempt CT trades on trend days Most of them will fail and trap you Comment will not appear immediately. Will be visible only after approval I had been to a Movie and just now came back
Regarding TST, I took the trade as it was with the trend as I thought the bias for the day was long. But I will keep in mind to avoid taking TST for CT.
Today, my morning was good but then overconfidence got me into taking unnecessary trades in channel move. Now waiting patiently to see how NF reacts at 7760 and 7740 levels...
Hi ST, I have started using the free Nifty spot chart from bazaartrend.com here's a screenshot if anyone is interested in using it http://i.imgur.com/n1U9qbC.png The live updates seem pretty good.
Hi ST
ReplyDeleteWhere would be the long entry for the TST trade, if at all??
Thanks
TBP
TBP
DeleteMost of the time you may not get correct entry patterns for TST
We have to take blind touch trades. That is why I am not encouraging such trades
Never attempt CT TST entries.
ST
Sir, Didn't u think of scratching the trade as it was not showing strength after entry and fell back inside bo zone ?
ReplyDeleteTrue, it was a gap up opening, but first three candles were bearish and gave a feeling that it might just fill the gap.
Price has broken out of a range after 2 days of range move.
DeleteSo thought it will trend. On such situations no other way but to pre accept the risk and sit tight
ST
ST Sir,
DeleteI also took this trade, as IRH BO.. but exited as NF back into range.. idle SL should be LOD (7703) or BRN.. which makes SL big, 15 points.. hence i scratched the trade.
Curious to know ur SL for this trade..
Hi ST
ReplyDeletetook a long at the end over rn as TRAP
please comment
thanks n rgds
Kishore
Usually TRAP entry is taken on the break of extreme.
DeleteIt took more than half an hour for the price to travel that distance
There was no momentum at all
ST
Sir, first candle looks different in my charts.
ReplyDeletemy trades today
http://dpintratrading.blogspot.in/2014/07/02072014.html
VKM
VKM
DeleteGood trades. You have taken the reliable signals
ST
Hi ST,
ReplyDeleteAre you trading on Zerodha? Do you face frequent hangs and freeze?
No. Mainly the problem is with the latest version, it seems
DeleteI have not updated since long
ST
which broker do u use?
DeleteI have accounts with Zerodha, TSO, Karvy, JRG and ICICI Direct
DeleteFor day trading i use Zerodha and TSO. For long term portfolio ICICI
Others are dormant
ST
Not sure if you got my comments earlier.. sending it again
ReplyDeleteST,
I took 2 trades today. First trade was BPB of IRH. I wanted to avoid the direct BO of IRH (terminal opening high was 7719). I entered at 7722 (9:59 AM) and exited at 7728 (10:50 AM). My second trade was TST of IRH and entered at 7725 (11:25 AM) and exited this at 7747 (1:47 PM). I did not enter short at 7745 (2:00 PM) as at that time as I was expecting bounce back from 7740 levels. After that, I did not go long at 7748 (2:20 PM) after the market tested 7740 twice, as RN and the DH were nearby. Moreover, market was already very high and so expected BOF of day's high (at that time DH was 7755.80 - 1:38 PM candle).
As usual, would appreciate your comment..... just want to make sure that my thought process development is right..... execution and trade management will become better with the screen time...
It was not the direct BO of IRH. It was the BPB of PDH/BRN
DeleteSecond TST trade was a good trade. Do not attempt CT trades on trend days
Most of them will fail and trap you
Comment will not appear immediately. Will be visible only after approval
I had been to a Movie and just now came back
ST
Sorry about posting the comments again...
DeleteRegarding TST, I took the trade as it was with the trend as I thought the bias for the day was long. But I will keep in mind to avoid taking TST for CT.
Today, my morning was good but then overconfidence got me into taking unnecessary trades in channel move. Now waiting patiently to see how NF reacts at 7760 and 7740 levels...
Your trade was with the trend . Long
DeleteI was just reminding you to stay with the trend
ST
HII ..ST sir ...
ReplyDeletei start my trading on CRUDE OIL ...if time permit plss visit and guide me
http://chartindia.blogspot.in/
thak you
Vishal
DeleteWill do it
ST
Hi ST,
ReplyDeleteI have started using the free Nifty spot chart from bazaartrend.com here's a screenshot if anyone is interested in using it http://i.imgur.com/n1U9qbC.png The live updates seem pretty good.
S Roy
DeleteThanks
ST
Hi ST,
Deletelooks like BSE network outage has brought Nifty to a standstill forming a Barbed wire around 7750/PDC, am I correct?
Yes.
DeleteNow the morning fall low is acting as a range low
ST
how do u identify bias while on going?
ReplyDeleteKindly go through all the important posts listed below the blog
Deletehttp://niftynirvana.blogspot.in/2013/06/trading-plan.html
http://niftynirvana.blogspot.in/2013/08/score.html
ST