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

Wednesday, March 18, 2015

18032015

This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis   
Nifty opened above PDH and sold. Went short the swing low when price failed to move above PDC twice. Covered when a BOF happened at BRN. Could not capture long trade there. Short on retest of PDH after the BOF. Scratched when bounced from PDC. Did not attempt the short below PDC. Long trade on BOF of BRN failed. Stopped out
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15 comments:

  1. Trader PaiMarch 18, 2015 at 4:03 PM

    Hi ST,
    was away in the morning .
    Took 3 trades

    http://postimg.org/image/rdy0mq199/

    Please comment especially on the second trade .
    I took it was BOF IRL and Rangel low (MSP)

    thanks
    Kishore

    ReplyDelete
    Replies
    1. SMART TraderMarch 18, 2015 at 4:20 PM

      DPs are zones. Align your DPs as far as possible to nearest round number.
      Here PDC is 8738 but price will reverse from 40. You may miss many TST entries otherwise
      IRL is not valid. So many times broken. I dont find a range there . There are two ranges 8700-40 and 8740-60
      Trade was into PDC space was less

      ST

      Delete
    2. Trader PaiMarch 18, 2015 at 4:37 PM

      Thanks ST,
      Feeling happy to see my trades matching yours .

      thanks n rgds
      Kishore

      Delete
  2. Uday DaveMarch 18, 2015 at 4:35 PM

    Sir

    What was the reason not to wait for retest after BOF of BRN, your last trade? Pin bar with good volume? CM short and you anticipated covering by them?

    URD

    ReplyDelete
    Replies
    1. SMART TraderMarch 18, 2015 at 10:29 PM

      The rejection was strong and the bar extended below the LOD
      Also expected some short covering. But it did not work

      ST

      Delete
  3. xrtrader1March 18, 2015 at 4:41 PM

    Thanks ST.
    http://xrtrader1.blogspot.in/2015/03/3-18-2015.html
    Please do comment. In hindsight I feel should have avoided 2nd and 4th trade.

    ReplyDelete
    Replies
    1. SMART TraderMarch 18, 2015 at 10:33 PM

      I think you did not mark PDC. PDC was a prominent level today

      ST

      Delete
  4. xrtrader1March 18, 2015 at 4:42 PM

    By the way took Trade#4 Because of NS BRN.

    ReplyDelete
  5. UnknownMarch 18, 2015 at 7:05 PM

    For your last BOF trade, why you didnt wait for confirmation like double bottom or swing break ? On 16th march you waited for confirmation for BOF trade around 1245 hr, was the way price approached levels made difference in your decision ?

    ReplyDelete
    Replies
    1. SMART TraderMarch 18, 2015 at 10:35 PM

      If a BOF happens at the end of the day, there will be covering by day traders
      I expected some short covering. but it did not work

      ST

      Delete
  6. L.V.GandhiMarch 18, 2015 at 7:50 PM

    Where did you exit your third trade? Below that 15:03 bar low or just below BRN? Just to learn your exit strategy?

    ReplyDelete
    Replies
    1. SMART TraderMarch 18, 2015 at 10:39 PM

      Usually I keep 2 points below the level. 8700 was the level and exit at 8698
      Here I was expecting some short covering and fall below 8700 invalidates it

      ST

      Delete
    2. L.V.GandhiMarch 19, 2015 at 7:35 AM

      Thanks.

      Delete
  7. BhavirMarch 19, 2015 at 1:22 AM

    Thanks for sharing sir. There is always something to learn.

    Didn't the last down move appear to be channelized?
    https://niftytradediary.wordpress.com/2015/03/19/18-march-2015/

    ReplyDelete
  8. UnknownMarch 19, 2015 at 4:50 AM

    Hi ST,

    What was your TP/FTA area for 2nd trade..PDC/IRH (8740). so entered the trade for 20 points?.

    Thanks,
    Aristatle.S

    ReplyDelete

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