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

Wednesday, September 17, 2014

17092014


Nifty opened within previous day range. As expected a consolidation day. Only one trade taken. BOF of BRN. TP  when price bounced from LOD. Avoided the TST long as it was CT.

17 comments:

  1. Hi ST,

    When you exited, where was your SL - Just at the high of Red Candle or few points above. I kept it 2 pts above that (just trying to be more precise).

    Thanks,
    Deven Malhotra

    ReplyDelete
    Replies
    1. It was a point above the red candle.
      That candle was a MC and I exited above it

      ST

      Delete
  2. Is there any entry long possible (TST at LOD) at the point where you have TP.

    ReplyDelete
    Replies
    1. In live market it is very difficult to take such counter trend TST trades
      In hind sight when you look at the chart it may look nice. You can confidently go long if it was a BOF
      TST and BO trades are blind trades where as BOF and BPB are confirmed trade signals
      TST signal can be a stall or a small pullback of the trend. BO trades are likely to fail most of the time
      Better stick to BPB and BOF initially

      ST

      Delete
  3. Hi ST,
    I took the short there but below DO only, was it wrong entry?

    ReplyDelete
  4. HI ST Sir,
    As Market opened above PDL, within the previous Daily Bar.
    Should'nt we look for long opportunity , when you say " Avoided the the TST long as it was CT " I am getting confused.
    As I skipped BOF of BRN thinking that the IRH will give support ( I drew the first bar as IRH) and was waiting for BOF of LOD or PDL.
    Please explain a little as I am working on ' DAILY DOSE'.

    Thanks
    Arvind.

    ReplyDelete
    Replies
    1. We look for long when daily in rally
      We look for long when price trades in a higher range than the previous range
      Here price is in a decline mode and trading near the bottom of the previous day range. So preferred trade is short
      You can always try BOF trades on CT moves as we try to buy the lows and sell the highs of ranges. But avoid CT TST trades.Trend trades are always preferred.

      ST

      Delete
  5. Hi ST,
    Good Morning. I missed this morning's ride totally. Where did you catch it?

    ReplyDelete
    Replies
    1. Above the first pull back high. Still riding

      ST

      Delete
    2. HI, I entered as bof of PDL above swing high 7979 and exited below 9.54 bar as second push failure. Was my exit wrong. and should I have entered ab 9.18 bar ab 7968

      Delete
    3. What you have done is right. Entry and exit
      I could ride it a little longer as my stop was below 9.45 Master candle
      My stop escaped only for a point.It was only luck. Price has created a log fluid. watch it

      ST

      Delete
  6. Daily Rally Daily Decline Price in Higher Range Price in Lower range

    Buying Range Low A B A B

    Selling Range High B A B A

    Buying Range low is an AA trade when price trades in a higher range and Daily in a Rally mode
    But it is a BB trade when price is in a lower range and Daily in decline
    AA trades are best, AB medium and BB least preferred. BOF can be attempted even on BB trades
    Hope I could explain it

    ST

    ReplyDelete
    Replies
    1. Top line is heading. not coming properly
      Daily rally, Daily Decline, Higher range, Lower Range
      A and B coming under these heading

      ST

      Delete
    2. Hi ST, Nice explanation, thank you. Yesterday (Sep 18) I lost my network totally after about 10 am, so no trades after that. Missed the morning rally because I was on the phone (at least thats my excuse, not 100% sure if I would have taken that trade had I not been chatting away while watching chart)

      Delete

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