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

Tuesday, July 22, 2014

22072014


Nifty opened within previous day range. Went long on BPB of PDH. TP when price stalled at RN 7750.
For a long time price traded within a 10 point range. There were two BOF at Range high. Shorted the break of range low on second BOF. Covered when price bounced from PDH. Long on break of pivot high as PP after the TST of PDH. Moved well. TP at market closure.
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17 comments:

  1. Guru Krish (Trading Nirvana)July 22, 2014 at 3:40 PM

    HI ST,

    I was hesitant to take the Second trade, I knew there was an opportunity but still my mind was not sure of the trade, so got a lesson to overcome the fear of CT trades... My trades Here...

    Cheers!
    GK

    ReplyDelete
    Replies
    1. SMART TraderJuly 22, 2014 at 3:53 PM

      For CT trades we have to ensure some stop accumulation at the entry point
      Always expect a bounce from FTA

      ST

      Delete
    2. Guru Krish (Trading Nirvana)July 22, 2014 at 3:57 PM

      Hi ST,

      I couldn't get this "ensure some stop accumulation at the entry point" can you please explain....?? since there will be a bounce from FTA, its better to take profit immediately than to wait???

      Cheers
      GK

      Delete
    3. SMART TraderJuly 22, 2014 at 4:10 PM

      If a CT trade fails to break FTA , it is better to book profit
      In a trend move traders will be trailing their SL. Usually behind swing pivots
      If you enter CT at these levels, you will have some favourable order flow on your side

      ST

      Delete
    4. Guru Krish (Trading Nirvana)July 23, 2014 at 8:04 AM

      ST,

      Got it!! :) Now i am seeing this more like playing "Chess" :) all Thanks to you

      Cheers!
      GK

      Delete
  2. UnknownJuly 22, 2014 at 3:51 PM

    Hi ST
    Can the candle next to where you took BOF be considered as BPB range low??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. SMART TraderJuly 22, 2014 at 3:56 PM

      Yes there was a BPB also. I took the direct break as I wanted to ensure some space
      FTA was PDH

      ST

      Delete
  3. Only NiftyJuly 22, 2014 at 4:02 PM

    ST Sir,

    Nice signals today, easy day to trade.
    Trades here

    ReplyDelete
    Replies
    1. SMART TraderJuly 22, 2014 at 4:15 PM

      Nice trades.
      First BOF of range high failed. I too expected it to move well

      ST

      Delete
  4. ABJuly 22, 2014 at 4:45 PM

    Hi ST,

    Any reason you did not take BoF of PDH @ 9:26 or 9:44 am? What was the mistake in taking these trades?

    Thanks,

    Arjun

    ReplyDelete
    Replies
    1. SMART TraderJuly 22, 2014 at 4:58 PM

      For these trades Target is IRL. There was no sufficient space for the trade to move
      I would have gone short if it break below IRL

      ST

      Delete
    2. ABJuly 22, 2014 at 6:58 PM

      Ok Sir. Thanks.

      Delete
  5. Purusharth MahajanJuly 22, 2014 at 8:27 PM

    Hi Sir,
    Please post the link where you have written about Pressure plays.
    Also what does FTA mean.

    Thanks in advance

    ReplyDelete
    Replies
    1. SMART TraderJuly 22, 2014 at 8:42 PM

      Please do read all the important posts listed below the blog
      All the concepts are well explained there

      ST

      Delete
  6. SMART TraderJuly 23, 2014 at 10:12 AM

    Guru

    Trading is a cruel mercenary game,whether you like it or not
    It is engaging the other party, encashing their fear and panic
    Profit opportunities arise when blood spills on the trading floor

    ST

    ReplyDelete
    Replies
    1. TrekkieJuly 23, 2014 at 10:44 AM

      Hi ST,
      That sounds so cruel :( :( Can't we think of it as similar to buy/sell of any other investment like house, property, shop, business?

      Delete
    2. SMART TraderJuly 23, 2014 at 11:40 AM

      You get something cheaper only when the other guy is in desperation
      It is applicable to house, shop,property, business and everything else.

      ST

      Delete

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