Thursday, May 9, 2013

09052013

Nifty opened within previous day range. IR formed. Went short on BPB of IRL. This trade did not move. Scratched at a small profit. Could not get any reliable signal to go long and missed the up move. Short on BOF of IRH/HOD. Market scared me and I was thinking about exiting. But as the earlier directional moves of the day were Channels, I  decided not to scratch and was lucky to capture a good move
at

4 comments:

  1. Sunil SaranjameMay 9, 2013 at 9:46 PM

    yes, today was a difficult day to trade esp intra.

    Congrats on your short! Nice work!

    tc,

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  2. Raghu R BhatMay 9, 2013 at 10:19 PM

    There was a BOF after TP. Similar to what was marked LOD and BOF yesterday? rb


    ReplyDelete
  3. SMART TraderMay 9, 2013 at 10:36 PM

    SS
    Thanks
    I stayed as my stop was beyond the day extreme

    ST

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  4. SMART TraderMay 9, 2013 at 10:47 PM

    Raghu

    You are right
    There was a BOF at 6050
    I skipped it because there were 4 swing highs and IRL above it within 15 point.
    Yesterday there was no such chop.
    We need space to trade not traffic.
    Go to
    http://www.james16group.us/
    Watch a video titled "Traffic V/s Space" by mbqb11 under guest material

    ST

    ReplyDelete

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