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.

25 comments:

  1. Hi ST
    Where would be the long entry for the TST trade, if at all??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. TBP

      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.

      ST

      Delete
  2. 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.

    ReplyDelete
    Replies
    1. 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

      ST

      Delete
    2. ST Sir,

      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.

      Curious to know ur SL for this trade..

      Delete
  3. Hi ST

    took a long at the end over rn as TRAP

    please comment


    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. Usually TRAP entry is taken on the break of extreme.
      It took more than half an hour for the price to travel that distance
      There was no momentum at all

      ST

      Delete
  4. Sir, first candle looks different in my charts.
    my trades today

    http://dpintratrading.blogspot.in/2014/07/02072014.html

    VKM

    ReplyDelete
    Replies
    1. VKM

      Good trades. You have taken the reliable signals

      ST

      Delete
  5. Hi ST,

    Are you trading on Zerodha? Do you face frequent hangs and freeze?

    ReplyDelete
    Replies
    1. No. Mainly the problem is with the latest version, it seems
      I have not updated since long

      ST

      Delete
    2. I have accounts with Zerodha, TSO, Karvy, JRG and ICICI Direct
      For day trading i use Zerodha and TSO. For long term portfolio ICICI
      Others are dormant

      ST

      Delete
  6. 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...

    ReplyDelete
    Replies
    1. 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

      ST

      Delete
    2. Sorry about posting the comments again...

      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...

      Delete
    3. Your trade was with the trend . Long
      I was just reminding you to stay with the trend

      ST

      Delete
  7. HII ..ST sir ...

    i start my trading on CRUDE OIL ...if time permit plss visit and guide me

    http://chartindia.blogspot.in/

    thak you

    ReplyDelete
  8. 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.

    ReplyDelete
    Replies
    1. Hi ST,
      looks like BSE network outage has brought Nifty to a standstill forming a Barbed wire around 7750/PDC, am I correct?

      Delete
    2. Yes.
      Now the morning fall low is acting as a range low

      ST

      Delete
  9. how do u identify bias while on going?

    ReplyDelete
    Replies
    1. Kindly go through all the important posts listed below the blog

      http://niftynirvana.blogspot.in/2013/06/trading-plan.html
      http://niftynirvana.blogspot.in/2013/08/score.html

      ST

      Delete

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