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

Thursday, August 28, 2014

28082014


Nifty opened near PDC and moved up. Went long on the BPB of PDH/RN. Trade did not move. Scratched. The last impulse acted as a range for the whole day. Did not trade the afternoon session due to expiry.
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15 comments:

  1. kishoreAugust 28, 2014 at 3:48 PM

    Hi ST,
    Started trading live today ..Took 2 bad trades and closed the day with around 12 points loss..
    Need to be comfortable with the trading gadgets and softwares ...Was enjoying paper trades till now ...

    need to wishes and blessings

    thanks n regards
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderAugust 28, 2014 at 4:48 PM

      All the best
      Be selective. Better avoid BO trades for now
      Stay with the trend

      ST

      Delete
    2. kishoreAugust 28, 2014 at 6:59 PM

      k st
      thanks
      kishore

      Delete
  2. UnknownAugust 28, 2014 at 3:53 PM

    Hi ST

    Thank You and wish you and your family a fulfilling Ganesh Chaturthi.

    TBP

    ReplyDelete
  3. sleepytrader42August 28, 2014 at 6:46 PM

    Hi ST,
    Are BOF and BPB higher probability trades (cf BO, TST) because they both involve traded traders?

    ReplyDelete
    Replies
    1. SMART TraderAugust 28, 2014 at 7:54 PM

      BOF and BPB are confirmed trades. So decision making process is less complicated
      Imagine price approaching a DP ( Long Example). TST of a DP is a counter trend trade. Price can pull back a little and go up breaking the DP. A direct BO above DP can fail. We will never know what will happen when price breaks DP

      If we allow price to break above the DP and act after confirming whether it gets rejected or accepted in the new area, trade entry becomes much easier and less uncertain. Drawback is you may need to risk little higher. But it is OK

      ST

      Delete
  4. videvAugust 28, 2014 at 8:15 PM

    I had also gone long around same price and scratched with small loss like yours. My take was I was expecting follow up in momentum after early break through of RN 5950 and BPB like consolidation above it.

    I took decision based on NS doing TST of all time high 5967 but unable to move beyond, and NF looked like a mini-absorption like pattern which looked bullish but seemed to fail and go into longer term consolidation. But it seemed more of a hunch at the time, don't really know if one can make some easy to follow rules.

    ReplyDelete
    Replies
    1. SMART TraderAugust 28, 2014 at 10:43 PM

      Logic was very simple.Price was lifted above the option strike 7950 in the morning
      Breaking 8000 was almost impossible. So the question was whether they can hold price above 7950 till market close. They managed it . Every dip below 7950 was bought aggressively. I was looking for a repeat of 31072014

      ST

      Delete
    2. videvAugust 29, 2014 at 10:22 AM

      Thanks.

      Delete
  5. amberAugust 29, 2014 at 3:36 PM

    Sir good afternoon,sir sent two mails,when time permits kindly check thnx

    ReplyDelete
  6. UnknownAugust 30, 2014 at 11:16 AM

    hi a life skills website

    http://www.skillsyouneed.com

    ReplyDelete
  7. TrekkieSeptember 1, 2014 at 9:13 AM

    Hi ST,
    Good Morning. On the first day of the new contract, is it better to use the PDH/PDL of current contract, rather than previous expired contract?

    ReplyDelete
  8. TrekkieSeptember 1, 2014 at 10:24 AM

    Thank you ST.

    ReplyDelete

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