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

Wednesday, October 1, 2014

01102014


No commitment from traders. May be due to long holidays. After yesterdays big moves expected a range. Nifty was within previous day closing range and the only trade was a BOF of range high/BRN. Did not move as expected. Covered around 7980. Enjoy and celebrate the holidays.
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22 comments:

  1. nifty for breadOctober 1, 2014 at 4:13 PM

    Sir,

    I thought that it is yet another Range day. Please brief us how to judge about the commitment of other traders.

    S.Karthikeyan

    ReplyDelete
    Replies
    1. SMART TraderOctober 1, 2014 at 6:54 PM

      There is no yard stick to measure the commitment.
      But generally we can assume that before long market holidays nobody will take a new position
      The reason is very simple. With a 20 lot short position in the market will you be able to enjoy these holidays?

      ST

      Delete
    2. nifty for breadOctober 1, 2014 at 7:35 PM

      Sir,

      I understand it. Happy holidays.

      Thanks for the guidance.

      S.Karthikeyan

      Delete
  2. Trader PaiOctober 1, 2014 at 5:07 PM

    ST,
    If time permit please comment on my thoughts

    happy holidays

    rgds
    Kishore

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

      Right

      ST

      Delete
    2. Trader PaiOctober 1, 2014 at 7:01 PM

      Sorry ..I think I missed to provide the link

      http://tradingdecisionpoints.blogspot.com/2014/09/1012014-live-1046-i-was-away.html

      Please have a look.

      thanks
      Kishore

      Delete
  3. UnknownOctober 1, 2014 at 5:28 PM

    Thank you ST Sir, happy holidays to you also. There are a total of 5 trading holidays this month. Good time to brush up one's basics ahead of promising trading season.

    As always looking forward to learn from you,
    KSG

    ReplyDelete
  4. videvOctober 1, 2014 at 6:58 PM

    I took BPB of PDC and PP short at 1212 bar triggered at 7978.5, reasoning being price getting accepted below PDC though I wasn't expecting sharp downmove either. It made new low but eventually failed. My SL was only 6 pts so no great problem.

    Later when I saw the chart it seemed there was a kind of down channel (not exactly parallel lines) in NF. In NS (Nifty spot) it was much clearer.

    Would appreciate your feedback on the trade.

    ReplyDelete
    Replies
    1. SMART TraderOctober 1, 2014 at 7:17 PM

      Check yesterdays chart. Price was trading between 7980-8010. It went up a lot in between, came back and settled in the same range. The very same range continued today. Price will not go anywhere till it gets broken. Tuesday I think this will happen and can look forward to an explosive move. Which way ? That I do not know

      ST

      Delete
  5. videvOctober 1, 2014 at 7:17 PM

    Was that an MC too around BRN/range high DPs so the break of it's low will have added significance being an MC?

    ReplyDelete
  6. UnknownOctober 1, 2014 at 7:27 PM

    Hi ST,

    Happy Dussehra. Enjoy your holiday's

    Kiran.

    ReplyDelete
  7. nifty for breadOctober 1, 2014 at 8:10 PM

    Sir,

    (like today) When we have BRN just below the higher extreme of the last impulse of the previous day, can we take BRN BOF short, at Day open, if the extreme is not penetrated? Would you have taken BRN BOF short, if today's second candle has breached the higher extreme of the last impulse?

    Thanks
    S.Karthikeyan

    ReplyDelete
  8. amberOctober 1, 2014 at 10:34 PM

    Sir wishing you and your family happy festival and holidays,thnx

    ReplyDelete
  9. SMART TraderOctober 2, 2014 at 12:03 PM

    SK

    You can go short on BOF of BRN. But Ensure space
    Here there was PDC and PDL below it. Price was within a BW started the previous day

    ST

    ReplyDelete
  10. Trader PaiOctober 6, 2014 at 10:46 PM

    Hi ST,
    Will you take direct BO in both the directions tomorrow morning ? or will you wait for a BPB

    rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderOctober 7, 2014 at 9:11 AM

      What is special about today morning?
      It is all about acceptance and rejection at decision points as usual

      ST

      Delete
  11. Trader PaiOctober 7, 2014 at 9:14 AM

    ST

    Fluids in both the directions .

    thanks n rgds
    Kishore

    ReplyDelete
  12. TrekkieOctober 7, 2014 at 9:37 AM

    Hi ST,
    Today http://imagizer.imageshack.com/img538/3383/I1sssZ.png] Do you consider this a BOF PDL or BPB or PDL? Do we look for both long and short at this time?

    ReplyDelete
    Replies
    1. SMART TraderOctober 7, 2014 at 10:08 AM

      The gap down was too far from PDL to look for a BPB.
      Price did not came back and settle above PDL to treat it as BOF
      The first two candles made IR and I did not attempt any trades. There was a minor BOF or FTC above IRL. But I did not find it reliable. But in hindsight the trade worked and hit the FTA, IRL

      ST

      Delete
    2. TrekkieOctober 7, 2014 at 10:13 AM

      Thank you ST.

      Delete

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