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

Tuesday, September 16, 2014

16092014


Nifty opened near PDL and fell below it. The first candle was a MC and acted as IR. Shorted below IRL. Nifty traded in a 10 point range for a long time and finally broke down. TP at 7985 when second push failed. Missed the final down move.
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15 comments:

  1. UnknownSeptember 16, 2014 at 3:50 PM

    Hi ST

    Could we have waited for the minor swing high to be taken out before TP??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. SMART TraderSeptember 16, 2014 at 3:57 PM

      Expected a range between LOD at that time and BRN
      Looking for a BOF of BRN to short again

      ST

      Delete
  2. kishoreSeptember 16, 2014 at 3:52 PM

    Hi ST,
    Took the first trade as yours .But since i kept the SL at 10 point just abpve PDL it got hit. :(

    Took another Short as BO of the 10 point range and covered at the same place as yours..
    Please comment

    PS:- cannot upload the pic at office

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderSeptember 16, 2014 at 4:05 PM

      Price did not go above 8050 after the entry.My stop was above RN
      Range BO trade is OK as it was with the trend

      ST

      Delete
    2. rrrajguruSeptember 16, 2014 at 5:38 PM

      Hi ST,

      Can one keep the SL at 7th candle high/pivot high, after taking the same BPB trade as yours?

      Delete
    3. SMART TraderSeptember 16, 2014 at 6:30 PM

      Yes You can do it if it is within your risk tolerance
      You can keep it above 14 th bar also.

      ST

      Delete
  3. kishoreSeptember 16, 2014 at 4:07 PM

    ST,
    9 57 bar high was 8051.5 and my SL got hit on the high of that bar at 8051.2

    thanks
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderSeptember 16, 2014 at 5:59 PM

      My entry was at 10.12 bar. So I think your entry was earlier

      ST

      Delete
    2. TrekkieSeptember 16, 2014 at 6:57 PM

      Hi ST, I also entered at 10.12 bar but kept only 5 point SL (dint want to risk much on IR) , got hit, then reentered on below 11:45 on 12:15 bar and exited where you did.

      Delete
    3. SMART TraderSeptember 16, 2014 at 8:37 PM

      5 point is too small a SL.Notice what was happening around
      Daily in Decline
      Price below PDC, DO,PDL
      Price tried to climb back to the previous day range thrice and failed
      BJP losing ground in elections.
      PDL,RN,PDL,MC High and PDC above as resistance
      What else you need for a great trade?

      ST.

      Delete
    4. TrekkieSeptember 16, 2014 at 9:07 PM

      ST, wow! when you put it that way it looks so clean and simple and makes me feel really dumb! I keep missing something or the other always.

      Delete
  4. TrekkieSeptember 17, 2014 at 9:14 AM

    Hi ST, Before 1.48 bar where was your SL? after 1.48 bar where was it?

    ReplyDelete
    Replies
    1. SMART TraderSeptember 17, 2014 at 10:18 AM

      It was above BRN
      I waited for the second push down and retest of the low
      brought down to 13.57 bar high after 14.00 bar closed
      exited when second push failed

      ST

      Delete
  5. nirtosSeptember 17, 2014 at 10:48 AM

    Hi ST,
    As of now , if BOF BRn happens should we attempt it. Is it with the trend or CT.
    Thanks

    ReplyDelete
    Replies
    1. SMART TraderSeptember 17, 2014 at 6:55 PM

      I attempt all the BOF trades where I feel a good number of traders get trapped
      http://niftynirvana.blogspot.in/2014/06/daily-dose.html
      http://niftynirvana.blogspot.in/2014/08/taming-trend.html
      The idea of trend is well explained in the above posts

      ST

      Delete

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