Thursday, February 14, 2013

14022013

Nifty opened near the bottom of the previous day range. IR formed. Not a significant one.Went long on BOF of PDL. Covered when it failed to move above IR High/DO.Short on BPB of PDL. Did not move as expected.Scratched. BOF the range high gave another short signal. TP near BRN
at

4 comments:

  1. AnonymousFebruary 14, 2013 at 7:17 PM

    Dear ST,

    Can you please explain about your second trade, BPB of PDL, which you scratched? When to take a decision to scratch the trade is not clear to me.

    Thanks,
    VVS.

    ReplyDelete
  2. SMART TraderFebruary 14, 2013 at 7:25 PM

    VVS

    Scratching the trade is exiting the trade around breakeven when we feel the market is not moving as we expect.Some times it is better to exit without waiting to get stopped out.Very difficult to define such situations

    ST

    ReplyDelete
  3. techtraderFebruary 14, 2013 at 9:09 PM

    Sir is the last trade bof of pdl or range low?u mentioned it as bof of range high?
    Regards

    ReplyDelete
  4. SMART TraderFebruary 14, 2013 at 9:33 PM

    techtrader

    I considered the move between 5920-5930 as a range. It is also a BOF of PDL

    ST

    ReplyDelete

Note: Only a member of this blog may post a comment.