Nifty opened within previous day range.Formed a narrow IR. Missed the first up move. Went short on TST of PDH. Scratched the trade as it failed to move.. BPB of PDH gave a long signal and this moved well.
Why did you not take morning ftc trade near BRN/IR high...i took the trade targeting atleast the gapfill...got stopped out!!!But i am not able to understand what would prevent me from taking the trade...the candle was also really bearish at the dp ?
Your trade was correct. I escaped it by luck only.Notice the previous days final swing high. Price failed to break below this level.So I kept my SL sell order just below this.
Don't worry it is all in the game.Manage the risk.You cant avoid losses. Trick is winning more than what you lose.
Although, I don't do day-trading but I read your blog with keen interest daily. You often post some interesting stuff and updates.
I would like to know if the process of decision-points that you are using for day trading, can it be adopted for longer time frame as well. I mean if i would like to use technical charting along with long term investment, then can it be done to make entries and exit?
Hello ST:
ReplyDeleteYesterday's high was 6035.85 as per icharts.in. Is there any explanation?
Even with this PDH results are same as yours.
Tnx,
hi sir
ReplyDeleteWhy did you not take morning ftc trade near BRN/IR high...i took the trade targeting atleast the gapfill...got stopped out!!!But i am not able to understand what would prevent me from taking the trade...the candle was also really bearish at the dp ?
Sakthivel
ReplyDeleteSorry could not understand your question. Kindly explain
ST
Akshay
ReplyDeleteYour trade was correct. I escaped it by luck only.Notice the previous days final swing high. Price failed to break below this level.So I kept my SL sell order just below this.
Don't worry it is all in the game.Manage the risk.You cant avoid losses. Trick is winning more than what you lose.
ST
Hi Sir! Can we trade the PDH breakout candle as a master candle?
ReplyDeleteDear Sir,
ReplyDeleteOpen and High of 11.1.13 was 6027.25 and 6038 as per NSE website, this changes the trades a bit.
Also, how do we decide about exit level on 14th chart after BO where no decision point is nearby?
Mohit
ReplyDeleteWhy not ? You can
Today's (15-01-2013)BOF candle is also a MC
You can trail the trade if there is no DP near by
ST
Hi,
ReplyDeleteAlthough, I don't do day-trading but I read your blog with keen interest daily. You often post some interesting stuff and updates.
I would like to know if the process of decision-points that you are using for day trading, can it be adopted for longer time frame as well. I mean if i would like to use technical charting along with long term investment, then can it be done to make entries and exit?
Manish
ReplyDeleteSupport and resistance do work in all markets and in all time frames. There will be price flips also
ST