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

Thursday, February 12, 2015

12022015

This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis
Nifty opened near PDC and tried to move up. Short on BOF of PDH/BRN. Scratched when price bounced twice from 8660 area. Price broke down again and supported at PDL. Went long above RN as PP as there was a TRAP like pattern before that. TP at BRN as there was strong rejection from BRN. Could not capture the next 70 point up move
We had a nice time last week. We could visit all the places planned except St. Mary's Island at Udupi. Thank you all for the wishes
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26 comments:

  1. RajuFebruary 12, 2015 at 3:52 PM

    Good Evening ST,

    Welcome back, we miss you all these days
    Hope you had a nice pilgrimage.

    Regards
    Raju

    ReplyDelete
  2. Trader PaiFebruary 12, 2015 at 3:58 PM

    Hi ST,
    Owing to consequesnt lose trades I was not trading today .I was paper trading..
    I didnt take the first short becuase of the channel formation.
    And Please comment on the long .I took it as BOF probable range(ie yesterdays last impulse/MSP).
    http://tradingdecisionpoints.blogspot.in/2015/02/2122015.html

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 4:46 PM

      We only draw intra day channels. Not multiple day ones.
      If you are looking at such channels sell the channel high and buy channel lows
      When a channel low breaks short the retest of it or go long if a BOF happens at channel low

      ST

      Delete
    2. Trader PaiFebruary 12, 2015 at 4:58 PM

      Thanks ST,
      What about my long?
      thanks
      Kishore

      Delete
    3. SMART TraderFebruary 12, 2015 at 6:53 PM

      http://screencast.com/t/8FIJlGt46XZG

      ST

      Delete
    4. UnknownFebruary 12, 2015 at 7:23 PM

      Hi ST,
      Where the does trend turned to short?

      thanks n rgds
      Kishore

      Delete
    5. UnknownFebruary 12, 2015 at 7:24 PM

      This comment has been removed by the author.

      Delete
    6. SMART TraderFebruary 12, 2015 at 8:03 PM

      I prefer the word "Bias" to "Trend"
      Bias became negative when price fell below PDC.Last DP crack to the down side
      http://niftynirvana.blogspot.in/2013/06/trading-plan.html

      ST

      Delete
  3. Deven MalhotraFebruary 12, 2015 at 4:22 PM

    Hi ST,

    Great to see you back in action ! Two things to ask-

    1) After getting out from 1st short, there was a BOF type of RN (considering it range low also). Why didn't you enter in it? I entered & was stopped out.
    2) For the last move, what i have felt at few times- if a BOF fails, its a better move. Although RR wasn't favorable, how could we enter here?
    From last few sessions, market is too volatile & somehow, i end up with big SL. Is it same at your end?

    Thanks,
    Deven Malhotra

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 6:52 PM

      1.http://screencast.com/t/8FIJlGt46XZG
      2.A pattern failure is a good signal .
      3.As you said market is too volatile and it is difficult to trade with a 10 point SL. I manage it by entering close to the DP trusting the structure blindly. 10 point was fixed when NF was in 4-5K range and now it is almost double. ATR above 80 makes trading with 10 point SL very difficult

      ST

      Delete
    2. UnknownFebruary 13, 2015 at 10:32 AM

      Yes ST,
      I close my trades after just 1 loss these days

      thanks n rgds
      Kishore

      Delete
  4. TrekkieFebruary 12, 2015 at 4:26 PM

    Hi ST,
    Nic e to see the chart again :) Thanks!! Did you take the first trade below the 5th bar or the 1st bar?

    ReplyDelete
  5. xrtrader1February 12, 2015 at 4:35 PM

    Thanks ST..

    ReplyDelete
  6. Rahul DixitFebruary 12, 2015 at 5:39 PM

    Good evening sir ji Nifty closed positive today what is view for tomorrow

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 7:11 PM

      Frankly, I do not know.
      I try to trade what I see on my chart after market open

      ST

      Delete
  7. L.V.GandhiFebruary 12, 2015 at 7:46 PM

    Can you please give details of your entry order for second trade and SL at entry and its trailing until 14:00

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 8:41 PM

      Entry was at 8654 with trigger at 8653.Initial SL was below entry bar at 8643. Then price tried to dip below RN and failed. I raised stop to below this bar at 8647.Trailing was below swing lows

      ST

      Delete
    2. L.V.GandhiFebruary 13, 2015 at 7:55 AM

      Thank you very much.

      Delete
  8. shub11February 12, 2015 at 7:46 PM

    1. Was there any shorts at 14:21 and 14:51 hammers

    2. In the hindsight do you think there was a way to capture the last 60 points move

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 8:54 PM

      14.51. No
      14.21 was a BOF of BRN. But it was CT trade and always wait for a swing point and enter on break of it
      It is difficult as per the method. No other way but to enter on BO of a swing point which I do not do on an extended move

      ST

      Delete
  9. NeethiFebruary 12, 2015 at 8:47 PM

    Dear ST Sir,

    Thanks for the chart,

    After around 100points down from day's open, and touched PDL. entered Long at 12:20 , SL hit at 12:35.
    looks entered the long at wrong place.

    please advice to avoid these traps, or is that have to wait till the price is moving above this swing high (which you have entered the PP) ?

    Thanks,
    Neethi

    ReplyDelete
    Replies
    1. SMART TraderFebruary 12, 2015 at 8:58 PM

      Trade Decision points and hide SL order behind a DP
      http://niftynirvana.blogspot.in/2013/06/trading-plan.html

      ST

      Delete
  10. UnknownFebruary 12, 2015 at 10:04 PM

    sir what is pp...................?

    ReplyDelete
    Replies
    1. SMART TraderFebruary 13, 2015 at 9:14 AM

      Check Glossary and the relevant post on the subject

      ST

      Delete
  11. UnknownFebruary 13, 2015 at 9:17 AM

    Thank you Sir , I hv just finished your e-book and on 12th I hv watched the trade and correctly identified your 2nd trade.
    Best wishes.

    ReplyDelete

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