09102014

Nifty gaped up above PDH and moved up. IR formed. Did not attempt FTC as RN was just below the tight range. Further bias was very bullish and wanted a signal to go long. Long on BO of IRH. . Covered on BOF of BRN. It was a tight trading range around BRN rest of the day

08102014

Nifty gaped down below PDL. The up move was swift. It did not give a pullback to go long . IR formed . This range acted as a Barbed Wire the whole day. Attempted a BPB long at BRN.This  trade failed and I exited when price fell below BRN. Went short here as BOF of BRN.This was also a pattern failure. Covered when price bounced from LOD. Went long on the BOF of LOD. TP at BRN. Price is still below BRN 7900. If it gets accepted above this level, it will be a BOF of 26092014 low.I expect positional shorts to unwind then

07102014

Nifty gaped down below PDL. IR formed. Went short on BPB of IRL. trade did not work. Scratched. Then it was a BW move around NS BRN-IRL. Short below the range low. Covered above BRN on break of the BO bar as price was moving down in a channel till then

Feedback Please

Dear Friends

I am very happy to note that many of the regular readers have given their feedback.Thanks a lot.

I have noted down all your suggestions and I will try to implement them wherever possible. Let me share the details with you.Please do  Click here to view the spread sheet 

Thank you very much for the support. Your feedback, suggestions and comments have helped a lot in the evolution of this method. Your continued patronage is a vital part of this growth and for that I am most grateful.Thanks again.

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01102014

No commitment from traders. May be due to long holidays. After yesterdays big moves expected a range. Nifty was within previous day closing range and the only trade was a BOF of range high/BRN. Did not move as expected. Covered around 7980. Enjoy and celebrate the holidays.

Good News

Here is some good news for retail traders. NSE is reducing the lot size of Nifty Futures and Options from 50 to 25 with effect from 31 st of October 2014.Here is the NSE Circular on the matter.Thanks to Amber for the link.

This is great news for the novice traders who want to focus on skill development without much damage to their accounts.Those who are currently trading the 50 lot can now experiment with multiple lots. Strategies like part exit and adding to the positions can be tested without much fear and tension.

I was lucky to test this method trading Mini Nifty with a lot size of 20.Otherwise I would have lost 2.5 times more money during the initial stages which could have affected my psychology badly. Later Mini Nifty was discontinued as per SEBI direction. I had made a blog post on that earlier titled RIP Mini