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

Friday, July 25, 2014

25072014



Nifty opened below PDC. IR formed. Short below IRL when three attempts of nifty to move up failed. TP On the BOF of BRN. Shorted again when two attempts to go above BRN failed.Price refused to move down. Suspected a BW and exited. For a while it was a channel move. Failed to capture the down move. Avoided short below PDL because of RN which gave strong support day before yesterday. Long on BOF of PDL. TP at the congestion area.. No other trades
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16 comments:

  1. Only NiftyJuly 25, 2014 at 3:44 PM

    ST Sir,

    Missed down move today, as i avoided BPB short at IRL & took BPB short at BRN.. which stopped out. Stayed away for rest of the day, as i am not comfortable. Seems i am getting into “1st Trade Failure Syndrome”!

    Should get rid of this ASAP :)

    Trades here

    ReplyDelete
    Replies
    1. SMART TraderJuly 25, 2014 at 4:02 PM

      I think it happens to all the trades
      If we miss a good trade ,we will jump at the next mediocre one
      If the first one fails, we hesitate and miss the second good one

      St

      Delete
    2. Only NiftyJuly 25, 2014 at 4:15 PM

      Yes Sir!

      May be it is too early to do any analysis on my DP trading performance, but i see interesting pattern!
      80% of my Gains, came through 20% of Total trades... 80% of my GREEN days started with Successful 1st Trade.

      Delete
    3. SMART TraderJuly 25, 2014 at 4:31 PM

      80-20 rule works everywhere.
      You need to study your 80% mediocre trades
      Are they CT, BO, etc. Eliminate or reduce such trades
      Start doing more of what works for you.

      ST

      Delete
    4. Only NiftyJuly 25, 2014 at 5:09 PM

      Thanks sir.. i will work on that!

      Delete
  2. UnknownJuly 25, 2014 at 3:48 PM

    Hi ST
    Missed the initial move as arrived late for trading.
    Took 7790 as range low today and traded the down move.
    I also took BOF PDL long. TP at range low. Also the range low 7790 was VWAP(ATP). Just checked it randomly. It coincided with range low today.

    Thanks
    TBP

    ReplyDelete
    Replies
    1. SMART TraderJuly 25, 2014 at 4:00 PM

      Good trades
      I considered the consolidation as a channel and missed the break down

      ST

      Delete
  3. amberJuly 25, 2014 at 4:58 PM

    Sir good evening,sir sent a mail when time permits kindly check thnx

    ReplyDelete
  4. ArvindJuly 25, 2014 at 8:17 PM

    Sir,
    Today I got left ,right from the channel move.
    First and second trade was same as yours.
    I took two trades in the channel.
    By the time the picture was clear, I had already finished my daily kota of trades.

    Thanks.
    Arvind.

    ReplyDelete
    Replies
    1. SMART TraderJuly 25, 2014 at 8:28 PM

      When you get stopped out of a trade at a DP,suspect a channel or a BW
      I stay away till I get the picture right. Sometimes you may miss a move as happened to me today
      Let it go. Do not trade the same DP repeatedly

      ST

      Delete
  5. ArvindJuly 25, 2014 at 8:34 PM

    Sir,
    Thanks for the guidance .


    Arvind

    ReplyDelete
  6. Trade 4 livingJuly 26, 2014 at 4:30 PM

    Rajesh,

    I did not quit when the nifty was hovering between 7785 and 7805 because I thought the nifty would still go down further and booked profit at 7760 as I had kept stop loss at 7810.

    My question is that how much point should one should be prepared to sacrifice for larger profit ?

    With kind regards

    ReplyDelete
    Replies
    1. SMART TraderJuly 26, 2014 at 10:20 PM

      Trade 4 Living
      There is no right answer for your question. No body knows what the market is going to do next
      You make a decision analyzing the situation and accept the responsibility of the trade outcome.

      ST

      Delete
  7. amberJuly 26, 2014 at 5:40 PM

    Sir good evening ,sir sent a mail when time permits kindly check thnx

    ReplyDelete
  8. TrekkieJuly 28, 2014 at 2:21 PM

    Hi ST,
    Today price pulled back from 22 July Flip. Should we look that far back or just go with today's price action?

    ReplyDelete
    Replies
    1. SMART TraderJuly 28, 2014 at 2:55 PM

      What happened to price at the earlier visit at the level is always important
      Usually day traders keep 5-10 days data on their charts. If the retest is within that period, the level will have some influence

      ST

      Delete

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