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

Wednesday, March 11, 2015

11032015

 This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis 
Market was too choppy. Last impulse acted as a range. Went short below IRH as TST of range low. covered when it bounced above IRL/RN. Tried another BO short targeting PDL. Stopped out. Price did not pull back to range low ,so missed the long. Another short at Range high also failed. Did not attempt any other trade as market was very choppy. I was not comfortable with those wide bars
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19 comments:

  1. ArvindMarch 11, 2015 at 3:56 PM

    Hi Sir,
    In case you had taken this trade , where would you have take profit. Please give your valuable suggestion.
    My trade
    http://screencast.com/t/TS1k4B8SU

    Thanks.

    ReplyDelete
    Replies
    1. SMART TraderMarch 11, 2015 at 9:36 PM

      Most probably I will exit where I went short on BOF of range high

      ST

      Delete
  2. UnknownMarch 11, 2015 at 3:59 PM

    Hi ST

    Does volatility help in gauging whether (mini or long) term bull or bear market is coming to a pause or an end??

    Thanks
    TBP

    ReplyDelete
  3. UnknownMarch 11, 2015 at 4:40 PM

    ST
    test of range low or high i also thought of taking same trade but hesitated and rest of the day too much choppy market was a bit trendless

    ReplyDelete
    Replies
    1. SMART TraderMarch 11, 2015 at 9:41 PM

      It is difficult to trade with a 10 point SL.
      Better to stay out diring such periods

      ST

      Delete
  4. Trader PaiMarch 11, 2015 at 4:53 PM

    Hi ST
    Took a short in the morning as BOF PDC
    pls comment

    http://postimg.org/image/uzbzrttwd/

    ReplyDelete
    Replies
    1. SMART TraderMarch 11, 2015 at 9:50 PM

      A BOF should trap traders. Here it has not happened
      Those who are long will keep SL below IRL only. So no stop triggering expected
      Trading into IRL and RN which is low probability
      ST

      Delete
  5. Trader PaiMarch 11, 2015 at 4:55 PM

    Hi ST,
    Can You please help to understanding how you defined todays range low?
    At day starting also was it your probable range

    thanks n rgds
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderMarch 11, 2015 at 9:54 PM

      Last impulse was PDL-8780. It cant be that wide. So expected IRL to 8780
      Later revised as per price action

      ST

      Delete
  6. L.V.GandhiMarch 11, 2015 at 7:46 PM

    Can You please share what was your entry and exit for the second trade?

    ReplyDelete
    Replies
    1. SMART TraderMarch 11, 2015 at 9:57 PM

      short executed at 8735. It jumped the order it seems. Then came back and executed before I could cancel
      Exit was at 8743

      ST

      Delete
    2. L.V.GandhiMarch 12, 2015 at 7:41 PM

      Thanks.

      Delete
  7. TrekkieMarch 11, 2015 at 8:58 PM

    Thanks for the chart ST. I took the first short, and another one below 12:48. I assumed that the xx50 is enveloped and PDC was resisting.. Please tell me how wrong I was with the second short

    ReplyDelete
  8. BharatMarch 12, 2015 at 1:55 PM

    ST,
    Why u dint initiated longs on Breakdown failure above 10.45. but in similar situation you took longs above 10.18 onMarch. 10
    is is due to strong fall before the failure? or any other reason?

    Thanks and Regards
    Bharat

    ReplyDelete
    Replies
    1. SMART TraderMarch 12, 2015 at 4:00 PM

      Price was channeling to the upside
      We were discussing it live then. See the comments 10032015

      ST

      Delete
  9. UnknownMarch 12, 2015 at 3:06 PM

    hi im trading DP method from last 6 months profitably making mistakes and learning from them my goal is to achieve average 300 pts per month with 10 (50) lots within next 3 years .is it realistic ? how u feel abt this goal?

    ReplyDelete
    Replies
    1. SMART TraderMarch 12, 2015 at 3:52 PM

      Go with minimum quantity till you consistently make 200+ points a month.Then scale up slowly
      If you make 200+points a month for 3 continuous months add one more lot. If you lose a month cut back the position to half the next month. Restore to original position after 3 continuous month profit. Do it without affecting the psychology. It is not an impossible task.

      ST

      Delete

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