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

Monday, June 29, 2015

29062015

Not traded for few days. A family member was sick and was in hospital. Now discharged but need bed rest for a while. Posts will be irregular for the next two weeks. Nifty gaped down and moved down . Did not attempt a short here as I expected a pull back. I had an order at RN, but price reversed retesting the pull back high. Missed a good move. Long on BOF of BRN/IRL. Covered at RN. Another long above after a TRAP pattern. Covered above BRN as price was not showing strength

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23 comments:

  1. xrtrader1June 29, 2015 at 4:05 PM

    Hi ST, Many thanks for taking time out to post chart.
    I took BOF (TRAP).
    Question:
    1> If you had not taken long trade, Would you have considered going short at 8250 ? (TRAP).
    2> First Trade looked like a weak BOF considering time it took to move.

    ReplyDelete
    Replies
    1. SMART TraderJune 29, 2015 at 4:24 PM

      I was also thinking a short there and actually entered an order. Later I cancelled it
      Price had already settled above the real DP, the range high and I felt long could be a higher probability trade
      Yes the whole world was bearish. I expected BRN-RN to act as a range for a while before a further breakdown.
      Expected a BOF at BRN at the fag end which never came. Nifty just dont care about Greece

      ST

      Delete
    2. AnonymousJune 29, 2015 at 4:45 PM

      Sir,

      As the price rapidly moved upwards during your second trade, did you enter through SL limit order or SL market order?

      Delete
    3. SMART TraderJune 29, 2015 at 5:59 PM

      Order was SL-Limit. Luckily got filled

      ST

      Delete
  2. UnknownJune 29, 2015 at 6:09 PM

    Hi ST
    good to see after a long time.I wish a speedy recovery of your family member!!!
    i also took a long trade at 8209 but my exit was a bit early as i put my stop loss at 8230 instead 0f 8222 the pivot low next long
    was a miss actually below 8250 i was thinking sort so i could not entered long at trap and the move was a very sharp one a candle of 50 points i knew there is fluid and again 8300 breakout i took time to decide was this a good trade as per parameters??

    ReplyDelete
    Replies
    1. SMART TraderJune 29, 2015 at 7:55 PM

      BRN and RN are very strong levels recently. This is because there is no premium on NF and levels are some sort of confluence.

      ST

      Delete
    2. TrekkieJune 29, 2015 at 11:40 PM

      ST. how does lack of premium on NF impact BRN and RN levels? thanks very much.

      Delete
    3. SMART TraderJune 30, 2015 at 10:44 AM

      BRN and NS BRN will be almost the same
      People watching NF and NS both will act there. So the zone becomes more powerful a level

      ST

      Delete
  3. TrekkieJune 29, 2015 at 6:12 PM

    Hi ST, thank you. Was the first long a CTtrade?

    ReplyDelete
    Replies
    1. SMART TraderJune 29, 2015 at 7:50 PM

      Yes. It was. But it was a FTC also
      Price failed to extend beyond the morning low. further Nifty had fallen 200 points and ripe for a consolidation
      FTA was range high

      ST

      Delete
  4. TrekkieJune 29, 2015 at 6:28 PM

    Hi ST, my prayers and good wishes for your family member's speedy recovery.

    ReplyDelete
  5. amberJune 29, 2015 at 8:15 PM

    Sir good evening,sir kindly update trap was @Msp thnx

    ReplyDelete
  6. TrekkieJune 30, 2015 at 12:01 AM

    Hi ST,
    If price had moved down would you have short below 2.48? thanks again, sorry about the many questions today.

    ReplyDelete
    Replies
    1. SMART TraderJune 30, 2015 at 10:42 AM

      Yes. I would have tried a short
      BOFof BRN, Fluid and critical mass favouring entry
      + Greece sentiment

      ST

      Delete
  7. UnknownJune 30, 2015 at 4:50 AM


    Hi ST, my prayers and good wishes for your family member's speedy recovery.

    Thanks,
    Aristatle.S

    ReplyDelete
  8. AJune 30, 2015 at 12:39 PM

    Hi ST sir,

    Can we expect a breakout above hod today? since rn seems as selling area?

    Thanks
    Arun

    ReplyDelete
  9. UnknownJune 30, 2015 at 3:47 PM

    Best wishes for your dear one.

    Asok

    ReplyDelete

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