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

Tuesday, September 23, 2014

23092014


Nifty opened below PDC. Tried to move above it and failed. Went short on the BOF of PDC below IRL. Scratched when price failed to go below MSP. Expected a range move between PDC and MSP. Went short on a BOF of MSP failed to move up. TP near PDL. Could not get the next 40 point down move from PDL
Posted by at

26 comments:

  1. Siju ThomasSeptember 23, 2014 at 4:01 PM

    Sir,
    There was MC at 2.05, is there any reason that you avoided the BO of MC?

    ReplyDelete
    Replies
    1. SMART TraderSeptember 23, 2014 at 4:10 PM

      Felt that that time LOD which was also RN 8050 will support
      Nifty had already fallen 100 points. So avoided

      ST

      Delete
  2. nirtosSeptember 23, 2014 at 4:10 PM

    Hi ST,
    my trades :http://screencast.com/t/fm55YlIF8. Is bpb of brn a valid trade. Can the last downfall be entered as BOF PDL. I bought put there ,was not sure so exited at loss of 2 points

    ReplyDelete
    Replies
    1. SMART TraderSeptember 23, 2014 at 4:19 PM

      BPB of BRN is a valid trade
      BOF of PDL was also a short signal. Avoided it as I thought LOD / RN will support

      ST

      Delete
    2. nirtosSeptember 23, 2014 at 4:21 PM

      What was your thoughts doing direct BO. I hesitated because of previous SL..

      Delete
    3. SMART TraderSeptember 23, 2014 at 4:43 PM

      http://screencast.com/t/5dLJUyqf

      ST

      Delete
    4. nirtosSeptember 23, 2014 at 4:57 PM

      Thanks ST,
      nice explanation. Will zoom the charts for earlier levels and clear thoughts.

      Delete
    5. UnknownSeptember 23, 2014 at 7:03 PM

      i think we can expect some positional longs may kept SL below that multi day range and also that range low is at make or break stage? so we can go with BO without waiting for BPB

      Delete
    6. Trade 4 livingSeptember 23, 2014 at 7:39 PM

      Rajesh,


      http://screencast.com/t/5dLJUyqf !

      When I saw the screen shot, it reminded me of the saying "A picture is worth a thousand words"

      Thanks a lot !

      With kind regards,


      Delete
  3. kishoreSeptember 23, 2014 at 4:47 PM

    Hi ST
    Took two trades..
    Trade 1 :- Took as BOF RN PDC near the 3rd bar .Failed
    Trade 2 :- Short same as yours , a BPB of LOD and Range low. TP above the MC at PDL 8077

    Please comment

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. kishoreSeptember 23, 2014 at 5:07 PM

      sorry typo ..The first trade was a long

      Delete
    2. SMART TraderSeptember 23, 2014 at 5:19 PM

      Both the trades were good.
      We cant do anything if it refuses to move within a reasonable

      ST

      Delete
    3. kishoreSeptember 23, 2014 at 5:33 PM

      ST,
      My first trade was long

      thanks
      Kishore

      Delete
    4. SMART TraderSeptember 23, 2014 at 8:11 PM

      Long was not a good trade. Wait for a formation and its break
      http://screencast.com/t/5dLJUyqf

      ST

      Delete
    5. kishoreSeptember 23, 2014 at 10:08 PM

      thanks ST,
      What is a mul ti range day ? And what is its significance with BO

      thanks n rgds
      Kishore

      Delete
    6. SMART TraderSeptember 24, 2014 at 11:09 AM

      It is MULTI DAY Range. A range held for more than one day
      After any range BO price will move away.More time spend within the range means more power to the BO
      If you are confident enter on direct BO else go for BPB

      ST

      Delete
    7. kishoreSeptember 24, 2014 at 12:55 PM

      thanks ST

      Delete
  4. rrrajguruSeptember 23, 2014 at 4:47 PM

    MSP is Major Swing Point. I read your article on that. But please tell some more in todays context

    ReplyDelete
  5. SMART TraderSeptember 23, 2014 at 4:59 PM

    MSP is the origin of last impulse wave in a trend.
    Market has a tendency to form a range between the trend extreme and MSP
    When MSP breaks trend is considered as reversed.

    ST

    ReplyDelete
  6. nifty for breadSeptember 23, 2014 at 6:10 PM

    Sir,

    Regarding your second trade - space between your entry point and BRN Spot was very less, I think. Why didn't you wait for the pull back here?

    Thanks
    S.Karthikeyan

    ReplyDelete
    Replies
    1. SMART TraderSeptember 23, 2014 at 8:21 PM

      It was a pattern failure as well as a Range BO
      I was confident that it will break BRN.. It gave a BPB at BRN also
      Here BRN was within a fluid and the area did not resist on the previous day at all

      ST

      Delete
    2. nifty for breadSeptember 23, 2014 at 9:17 PM

      Sir,

      Thanks for the guidance.

      S.Karthikeyan

      Delete
  7. UnknownSeptember 23, 2014 at 6:25 PM

    sir,
    what is MSP(Major Swing Point). how to calculat it?

    ReplyDelete
    Replies
    1. SMART TraderSeptember 23, 2014 at 8:23 PM

      Please go through the important posts listed below the blog
      You can also download them in E-Book format

      ST

      Delete
  8. UnknownSeptember 23, 2014 at 6:27 PM

    sir,
    i m new. how much brokerage is reasonable to trade NF? i spent for one trade Rs.400.

    ReplyDelete
    Replies
    1. SMART TraderSeptember 23, 2014 at 8:25 PM

      Open account with some discount brokers
      It will not cost more than 125/- for a lot of nifty.
      Paying 400 as brokerage, you will never make profit

      ST

      Delete

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)