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

Wednesday, August 13, 2014

13082014


Nifty opened below PDC/RN. Unexpectedly broke above PDH. There was no follow up buying and went short below RN 7750. trade refused to move beyond IRL. Covered at a small profit. Another short on the second BOF of PDH. It broke IRL and stalled at NS BRN. Covered when second push failed. Tried another PP trade long . This trade also did not move as expected. Bounced from PDH/PDC area

29 comments:

  1. Hi ST,
    for the last PP trade.
    There was a BOF from the Barbwire (8,9 candle before you took trade). Was this the reason to take PP trade ?

    ReplyDelete
  2. Not that alone. i expected some stops there
    people might have shorted the break of PDH and later IRL
    Some of them will expect further fall and stay tight with SL above IRL
    Up move was just that stop triggering

    ST

    ReplyDelete
  3. Hi ST,

    Why did you avoid BPB of PDH trade at 10:23 AM when the initial trend is bullish. What was your thought process while taking your second trade on BOF of PDH when there were 2 attempts of BOF of PDC and RN failed before that.

    Thank you,
    Kiran.

    ReplyDelete
    Replies
    1. 10.23 there was no entry trigger. I usually enter on break of the extreme after a pull back
      in LOL situations, usually the first levels will break and the second will hold
      http://niftynirvana.blogspot.in/2012/03/layer-over-layer.html
      ST

      Delete
  4. ST Sir,

    I am taking PAUSE to trading, because of planned works.. Will be back in 2 months

    Trades here

    ReplyDelete
    Replies
    1. Rose

      Attend to the planned works. There is life beyond trading
      All the best

      ST

      Delete
  5. Was it not TST of LOD and NSBRN @1442 candle ? may be a long could have been taken there... there was just about 10 points space above that (upto IRL)

    ReplyDelete
    Replies
    1. Sumesh
      Yes it was a TST.
      But in live market psychologically it is not possible to take such trades
      It will look good on hindsight analysis of charts. In real trading we will mess up with such signals

      ST

      Delete
  6. ST Sir,
    A big thanks for your generosity in sharing your unique insights into trading. Giving hope that maybe one day I can trade profitably.

    A couple of doubts on today's chart:
    1. BPB of PDH?: Could we have treated the 10:03am red bar as a pullback and gone long above it? Or was there something wrong with that red bar that we cannot call it a pullback.

    2. TST of NS BRN?: If we were trading TST, was there a long above 13:09pm red bar after second push down at 13:15pm failed? FTA was 10 points above.

    Thanks

    ReplyDelete
    Replies
    1. Raghuveer
      Do not look for the patterns in isolation. Price action trading is not blind pattern trading
      You need to take a decision as per the situation. Price had already gone up more than 100 points since yesterday evening. Today morning it had moved 40 points. No pivot crack to the downside to trap shorts.No bear trap to look for stop triggering. You can consider such inside bars as pullback when price is breaking out of a prolonged consolidation. Not in an over extended move
      In hindsight you will be able to see many patterns. But in real trading it is very difficult to trade such moves. Price was chopping around within IRL and NS BRN. How do we know the chop is over?

      ST

      Delete
    2. Thanks ST sir.
      Overlooked the over extended move and no shorts trapped points.

      Delete
  7. i missed ur first trade
    how u ignore PDC RN there? wats ut thaught process?
    usually i ignore a DP if price moved up once and down once ( total 2 times) , for third time i ignore it,

    ReplyDelete
    Replies
    1. You can safely ignore RN and PDC here. So many traders have gone long on break of PDH
      They will keep their SL below the new swing low formed at PDH. These orders are enough to crack PDC and RN
      The order flow was very favourable. So took the short.

      ST

      Delete
    2. ST sir, Learnt todays lesson that apart from our trading we should also have an idea about other traders entries, sl, tsl and exits.

      Thank you

      Delete
  8. Legendary Trader Ed Seykota's Greatest Quotes
    Must See This Video For Traders

    https://www.youtube.com/watch?v=TTukkCJB-0c

    ReplyDelete
  9. ST Sir,

    Thanks for your sharing and caring attitude.

    Regarding above chart,

    i) Did you expect your second trade to move beyond IRL to where you took profit?

    ii) If I had marked IRH as the high of 9:27 & 9:30 candles, would there have been a BPB logg signal?

    Regards,
    KSG

    ReplyDelete
    Replies
    1. All the trades start as a scalp to FTC. Depending on other factors like Trend, critical mass Order flow etc, I will take a decision there to hold for a while or exit. I will not go for a direct break above PDH or BPB of IRH as I felt the move over extended

      ST

      Delete
  10. hello ST sir,
    i am new learner.
    what is th meaning of pivot crack ?
    and what is CT trade meaning.
    Can u pls tell.
    thanks & regards
    radha

    ReplyDelete
    Replies
    1. You cannot follow or practice this method without a minimum level of market experience
      Please go through some trading forums to get some basic knowledge.
      https://docs.google.com/file/d/0B12RhuYKWeSUM2QxN3VxTmM2S2M/edit?usp=sharing
      Down load and read the compilation to get some idea

      ST

      Delete
  11. thank you sir,
    i will follow
    Regards
    radha

    ReplyDelete
  12. Hi ST,
    Good morning. Could we consider the price movement so far as FTC, Stop losses gathering below PDH, so can ride it down if it happens or is price too bullish for this?

    ReplyDelete
    Replies
    1. Tried a short below PDH. Stopped out.
      BOF is not moving up.Critical Mass positional as well as day traders are long
      Cant rule out a massive unwinding towards close

      ST

      Delete
    2. ST
      me too shorted and stopped out. i think ideal entry is low of master candle which not triggered

      Delete
    3. hi ST
      i have written all the processes( steps) which i need to run on brain before trade entry but the problem is not able to process all the steps and take action fastly and doubting and second thinking leading to hesitation( that am i right?) and missing many trades.

      Delete
    4. Knowing and doing is totally different.
      Trading is something to be learned by doing like cycling and swimming
      You will fall down and will drink a lot of water before it clicks

      ST

      Delete

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