Thursday, June 6, 2013

06062013

Nifty gaped down and broke PDL. I thought of shorting below the first bar but hesitates as I expected some consolidation after such a gap. But when Nifty broke the swing low I tried a short and had to scratch it. BPB of BRN/IRH gave a long . This gave around 20 points.Shorted the BOF of PDH. I was concerned about PDc but the Fluid 5950-30 gave confidence. Price moved to the swing low as expected.

5 comments:

  1. Is it good to go stop & reverse if bpb trade fails for example today's first bpb short trade.

    ReplyDelete
  2. Rajesh

    An exit level is not always a good entry trigger in the new direction.Either you will be exiting too late or entering too soon. It is better to exit a trade and re assess the situation with clear mind

    ST

    ReplyDelete
  3. Dear ST Sir,

    I entered the First ENTRY Short...

    and Exited with a small loss... and then not dared to enter on long side....

    Was frustrating for me... but one thing is good that I was able to find the exact trade... that is similar to yours...

    Will try to improve this one

    ReplyDelete
  4. SAM

    Frustrating ? !!!!
    It took me three long years to define a structure that work reasonably well
    Another one and a half years of hard work to make these things work is in front of you.
    Still the method is evolving and I am still working on it.
    I have gone to hell and come back.But never felt frustrated

    ST

    ReplyDelete
  5. Dear ST Sir,

    Pls don't take my words in another way...

    I .. in no way wanted to hurt by my words...

    It was my poor english...

    And it was due to I didn't took next trade....

    Pls don't mind...and
    still if I have done anything wrong ... I am really sorry for it..

    Thanks a lot for reply ..

    Regards
    SAM

    ReplyDelete

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