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

Monday, October 13, 2014

13102014


Nifty gaped down below PDL. First candle acted as IR. Long on BPB of IRH. Then it was just trailing. TP near 7910.

22 comments:

  1. Hi ST,
    My trades.
    Took a second long (i dont know why) and stopped out .I felt the price will move till pdh because of trapped traders ..

    http://tradingdecisionpoints.blogspot.com/2014/10/blog-post.html

    Please comment

    rgds
    Kishore

    ReplyDelete
    Replies
    1. Price was already up 100 points from the low without a consolidation
      Avoid buying after a lot of buying has taken place. Wait for a consolidation

      ST

      Delete
    2. Yes ST,
      That Bullish bar just after our SL hit took my mind .

      thanks n rgds
      Kishore

      Delete
  2. Sir,
    Why did not you TP at PDL?
    My trades.
    http://screencast.com/t/m1EKbuRrIiyX

    Thanks
    Arvind

    ReplyDelete
    Replies
    1. Stop was kept below the BO bar low. It did not trigger
      Good trades

      ST

      Delete
  3. Hi ST,

    Why didn't you come out, when price didn't make a higher high (in 2nd attempt after BPB entry)?

    Thanks,
    Deven Malhotra

    ReplyDelete
    Replies
    1. I was not very confident about that long. Was expecting a stall or reversal at 7870 area which was a strong FLIP
      08102014 low. Kept the SL below that MC so that I will not lose. Luckily it worked

      ST

      Delete
  4. Why did you not take Short below First candle, MC? Can You, please, explain your thought process?

    ReplyDelete
    Replies
    1. Today an outside trend gap day. So avoided
      Trend gaps are likely to attract profit booking at the first sign of opposite order flow.
      http://niftynirvana.blogspot.in/2012/08/gaps.html
      Further the area was NS BRN 7800 which was a strong resistance earlier likely to lend support
      It will be clear if you look at the Daily Chart

      ST

      Delete
    2. Thank you for nice explanation of gaps.

      Delete
  5. I had listed BPB long of IRH as trade possibility in morning itself... but having missed the initial minute of trading, I wasn't sure what is the actual IRH. It seemed it must be 7845-50 but didn't want to assume blindly, so missed out on the only possible trade for the day.

    Plan to switch to another chart provider which gives cleaned data for first minute of trading.

    Gave 2 triggers for short entry for possible BOF but cancelled them since the up momentum seemed quite strong.

    ReplyDelete
    Replies
    1. http://www.icharts.in/faqs/icharts-faq/intraday-open-high-low-does-not-match-with-odin-terminal-data.html

      ST

      Delete
    2. Thanks ST. I was aware of this, but it's perplexing why everyone else apart from icharts gives this 'raw' NSE data which has block trades etc. I get data from NLC RT data which is very similar to the Nest trader data, so even that has the usual spikes at open and no great help. Now trying to get trial from global data feeds.

      After going through many historical charts using 1 min NSE data, my sense is icharts data gives better levels and so better results.

      Delete
  6. does today qualify to be trend type 1 day?
    bias towards a range bound kinda day tomorrow?

    ReplyDelete
  7. If you consider the opening gap down as today,s move, it will appear as a reversal day
    Diwali Rally is also due. Further Election is round the corner

    ST

    ReplyDelete
  8. Did you catch the short ST? looking back, 9.21 looks like an awesome entry if we look at 9:18 as a breakout failure.

    ReplyDelete
    Replies
    1. No. I hesitated and missed it
      PDC and BRN was a concern. Now a BW around BRN?

      ST

      Delete
    2. What is 'BW' ? Please add 'BW' to your glossary .

      Thanks,
      Senthil.

      Delete
    3. it indeed is BW around BRN ... just doesn't move ..
      should the Decision point now be the BW high ~ 7910?

      Delete
    4. This month already has too many holidays, tomorrow has been added to the list.

      Delete

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