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

Monday, December 29, 2014

29122014

This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis
Nifty opened near PDH and went up 50 points without a pull back. could not get the move. Short on BOF of range high covered when price refused go go below NS RN. Tried a long and scratched as price did not move as expected. No other trades as price remained in a tight range
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8 comments:

  1. UnknownDecember 29, 2014 at 3:43 PM

    Hi ST
    Thanks for the chart. Where would you have taken short below range low??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. SMART TraderDecember 29, 2014 at 4:52 PM

      Price need to break PDH for a short. I look for a short at range high

      ST

      Delete
  2. xrtrader1December 29, 2014 at 4:33 PM

    Thanks ST, I am Staying out till Next Monday.

    ReplyDelete
  3. vinayakDecember 29, 2014 at 4:36 PM

    sir i read your book that cleared me lots of things regarding your trading style.I want to know which time frame candles are shown in picture and also the meaning of RN/NS-RN.

    ReplyDelete
    Replies
    1. SMART TraderDecember 29, 2014 at 4:55 PM

      3M chart.
      RN denotes numbers ending 50
      8150,8250,8350 etc. NS refers to Nifty Spot values

      ST

      Delete
  4. L.V.GandhiDecember 29, 2014 at 7:41 PM

    I entered long as per your second trade, but exited below 13:30 bar in 13:36 bar. What was your thought process regarding SL there?

    ReplyDelete
    Replies
    1. SMART TraderDecember 29, 2014 at 7:58 PM

      The move was not as per my expectation. It was a good BOF,but price never showed upside momentum even though it was a fluid. 8340 resisted many times earlier and I felt there was not enough buying power in the market to break that. So scratched

      ST

      Delete
    2. BhavirDecember 29, 2014 at 8:56 PM

      Missed the first trade. Took the second one but when to scratch vs. when to hold is not an easy one for me yet :)
      I had a gut feeling to get out but chose to hold today.
      http://niftytradediary.wordpress.com/2014/12/29/29-dec-2014/

      Here's re-reading one important post for everyone which I revised today.
      http://niftynirvana.blogspot.in/2014/11/24112014.html#comment-form
      (reply to Sumesh and UR Dave)

      Also re-posting my experience from last Friday. Hope no one repeats this again.
      http://niftytradediary.wordpress.com/2014/12/27/26-dec-2014-how-not-to-trade/

      Delete

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