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

Friday, August 8, 2014

08082014



Nifty gaped down 80 points from previous day close. It was 140 point fall from yesterday evening. I was not expecting much fall again today . Price never came above IRH. Attempted two trades BOF of Range High/BRN. and a BO below LOD. Both trades did not work.
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25 comments:

  1. UnknownAugust 8, 2014 at 3:49 PM

    Hi ST
    Did the fluid below enticed the BO??

    Also, I have posted on my blog a a post on some chart patterns which usually occur on a higher time frame (Hourly/ Daily).
    I find them useful on hourly charts for swing trades. getting out of town fro some personal work. Will relate those patterns to some examples(trades) which I already took, once I come back. Do go through the post!!

    Click Here

    Thanks
    TBP

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 6:14 PM

      TBP

      Price has fallen 140 point since yesterday afternoon. I did not expect a further fall without a meaningful pull backor a little time correction. Being weekend there will not be any new commitments from traders. will check the pattens

      ST

      Delete
    2. BharatAugust 9, 2014 at 11:03 AM

      ST,

      How is this situation difference today compared to 4th August. where u took Direct long over the range.. considering most of the traders are bearish and their stoploss traping will give us enogh order flow after entry?

      Regards

      Bharat

      Delete
    3. SMART TraderAugust 9, 2014 at 12:01 PM

      Situation is different
      Today price opened gap down and traded in a lower range where you adopt a bearish approach
      On 04082014 price gaped up and settled in a higher range where it is slightly bullish

      Delete
  2. kishoreAugust 8, 2014 at 3:55 PM

    ST,
    Why didnt you take a BO trade above BRN were you took your first trade ..

    Conditions favoring BO:-

    Space :- Fluid above
    Critical mass :- Short
    Orderflow :- ??
    Risk :- good.
    Trend :- Down ...

    Only trend is down here ...So y not that BO ...?

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 6:28 PM

      I don't want to trade against such a down move. I have no suicidal tendency
      I would have gone long if the BO happened after a BOF of range low or on a good BPB
      Three BOF of the range low happened later. All of them could not take the price above range high
      When current range is below the previous range preferred trade is selling the high

      ST

      Delete
  3. Price Action LabAugust 8, 2014 at 3:56 PM

    HI ST,

    Please review my trade.
    http://www.screencast.com/t/j6XhwAeoaR

    Naveen

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 6:33 PM

      Good trades.
      I thought of taking your second one.
      But postponed my entry to the break of LOD which never happened

      ST

      Delete
  4. Only NiftyAugust 8, 2014 at 4:41 PM

    ST Sir,

    Dull session.
    Trades here

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 6:35 PM

      Very Dull. I hate these gaps
      Why don't Nifty open near PDC and fall 100 points?

      ST

      Delete
  5. rockyAugust 8, 2014 at 4:44 PM

    HELLO sir which data feed you are using ?? mine chart is bit different and i ask some qq on chart please answer...

    http://i61.tinypic.com/2mx4tb7.png

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 6:55 PM

      I am using I charts
      Avoid Counter trend trades on these kind of days
      Think about longs only after price gets accepted in a higher range

      ST

      Delete
  6. VKMAugust 8, 2014 at 4:51 PM

    ST sir
    Took same trades as yours, exits also at same levels.
    http://dpintratrading.blogspot.in/2014/08/08082014.html
    Can we take long above 13:15 candle high as FTC below LOD?

    VKM

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 7:02 PM

      Avoid longs till price settles at a higher range.
      Otherwise manage and trail very tight

      ST

      Delete
    2. VKMAugust 8, 2014 at 8:55 PM

      Thank you sir

      VKM

      Delete
  7. xrtrader1August 8, 2014 at 5:19 PM

    Hi ST,
    (If space was there). PP trade from the (TP of second trade) valid ?

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 7:08 PM

      It may work. But IMHO why should one go for such low probability ones?
      If you take two such trades and lose 10 point each , your loss will mount to 25 points with commission
      Even if you make 28 points in your third one, you will go home empty handed

      ST

      Delete
    2. xrtrader1August 8, 2014 at 7:16 PM

      Thanks ST..

      Delete
  8. UnknownAugust 8, 2014 at 6:59 PM

    Hi ST Sir Good Evening
    Very Choppy Day Today
    http://i.imgur.com/gRCpiZP.jpg

    ReplyDelete
    Replies
    1. SMART TraderAugust 8, 2014 at 7:12 PM

      Avoid longs unless price settles above the current range

      ST

      Delete
  9. WOLFPAQAugust 8, 2014 at 11:41 PM

    good evening sir...

    I am new to trading and trying to get a hold here.... just wnated to know the reason for today's Gap Down.

    ReplyDelete
    Replies
    1. SMART TraderAugust 9, 2014 at 9:51 AM

      To be frank, I dont know
      I try to trade short term demand supply imbalances in market

      ST

      Delete
  10. goodidea.vishalAugust 9, 2014 at 1:31 AM

    Hii sir ,
    i post on my blog regarding free real chart of NSE (Nifty spot and future) and other exchanges MCX ,NCDEX and forex . there is some delay but it is useful for practice , or those people are dont want to spend money on chart . may be usuful for someone .
    thank you

    ReplyDelete
  11. goodidea.vishalAugust 9, 2014 at 1:33 AM

    Sorry , forgot to post link , below is link of that post http://chartindia.blogspot.in/2014/08/free-real-time-charts.html

    thank you

    ReplyDelete
    Replies
    1. SMART TraderAugust 9, 2014 at 9:54 AM

      Thanks
      I will include the link in a post
      New traders may find it useful

      ST

      Delete

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