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

Tuesday, July 14, 2015

14072015

Nifty opened near PDC and moved down. expected a range move after yesterday evening quick up move. Price reversed testing RN. Waited for a retest and missed the long. Long on BOF of LOD. Exited earlier on consolidation. Short on BOF of RN/HOD. Moved well.Covered at the end of fluid at range low. No other trades
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17 comments:

  1. xrtrader1July 14, 2015 at 4:10 PM

    Hi ST, Just before BOF trade, I took a BPB trade. What was your thought process for not taking a BPB trade there ? OR in other words if you had to take a BPB trade what you would have looked at ?

    ReplyDelete
    Replies
    1. SMART TraderJuly 14, 2015 at 4:30 PM

      Look for BPB after it breaks BRN after an extended move. It was a LOL set up

      ST

      Delete
    2. xrtrader1July 14, 2015 at 4:53 PM

      Sorry to bother please explain extended move in today's context

      Delete
    3. UnknownJuly 14, 2015 at 7:21 PM

      Whats LOL setup ?

      Delete
    4. SMART TraderJuly 14, 2015 at 9:40 PM

      Naveen
      Please do read all the important posts before attempting to trade the method
      http://niftynirvana.blogspot.in/2012/03/layer-over-layer.html
      Xr,
      Market has a tendency to range within 2 option strikes. Upmove started from 8450 area and reached 8500 the higher boundary. May not move above this unless there is strong orderflow

      ST

      ST

      Delete
    5. xrtrader1July 15, 2015 at 8:14 AM

      Thanks So much ST..

      Delete
  2. rockyJuly 14, 2015 at 4:12 PM

    sir why didnt you shorted at BPB at round number?

    ReplyDelete
    Replies
    1. SMART TraderJuly 14, 2015 at 4:26 PM

      Bias was bullish. price was just pulling back after yesterdays up move
      It never broke the previous bottom convincingly to look for a BPB

      ST

      Delete
  3. BharatJuly 14, 2015 at 4:58 PM

    ST,

    Why exited that BOF short without waiting for second leg looking to sharp down move. ? What signal prompted u to exit where u exited?

    Thanks and Regards

    Bharat

    ReplyDelete
    Replies
    1. SMART TraderJuly 14, 2015 at 10:19 PM

      1.Daily in rally mode. Bias still favor longs
      2.Fluid ended
      3.Price almost tested RN
      4.8460 area a strong support
      5.Expected a deep pull back at least to Range high
      6.A better option was to book profit at 60 and look to short at 70 again
      7.Intention is to capture the move from A to B and reenter at the range 2 low again
      http://www.niftynirvana.blogspot.in/2012/06/trends.html
      ST

      Delete
  4. UnknownJuly 14, 2015 at 9:04 PM

    Hi ST,
    Thanks for the update. Nice trades. I was looking fwd to short at range high. Entered short on break of 1.33 candle low as I read it BOF of PDC and TST of DO/ day high.The 1.45 pin bar was encouraging. But stopped out at PDH. Please elaborate what went wrong?

    ReplyDelete
    Replies
    1. SMART TraderJuly 14, 2015 at 10:42 PM

      Range high, the area around 8470 resisted for a long time and finally broke
      No short until price breaks below this flip. You may short at 8469 and not before

      ST

      Delete
    2. UnknownJuly 15, 2015 at 8:39 AM

      Thanks a lot ST.

      Delete
  5. TrekkieJuly 14, 2015 at 10:34 PM

    Thank you so much for the chart ST. I could not trade today, some unexpected guests :( The troubles of working from home.

    ReplyDelete
    Replies
    1. SMART TraderJuly 14, 2015 at 10:52 PM

      Benefit and advantage of working from home. You always get time to play host and attend family functions
      Tomorrow I have to take my father to hospital for some diagnostic tests. If I am working, I have to plead to my manager for a days leave
      For the last one and a half years, I have attended all the invited functions.

      Delete
    2. TrekkieJuly 14, 2015 at 11:02 PM

      ST, Thats also true :) Doesn't playing host get tedious sometimes though especially during the day? I have a friend who thinks I am just lying to her that I am working from home, I cant reveal that I am trading, lest she think I am a gambler :D My sister thinks I am definitely a gambler cos she knows I am trading. :(

      Delete
  6. UnknownJuly 15, 2015 at 2:20 PM

    Hi ST
    Great learning as always...
    Off late concentrating on positional cash trades.
    Due to personal issues not able to devote time for Day trading.
    As always thanks for posting!!

    TBP

    ReplyDelete

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