Nifty gaped down below PDL/PDC. BPB Short below IRL. TP at BRN. BOF of BRN after a range move gave a long signal. Bought above MSP. Exited the trade at DO. Nifty went up further and BO of PDC-PDL/DO gave another short signal. Shorted below MSP.My target was BRN or LOD. But the trade did not move. Scratched.Did not attempt the last down move as there were too many levels around
This was the first day that I tried this approach of trading only NIFTY. Are all days this difficult? :) I had also shorted for BRN, but had to exit on the upmove around 2.30. Otherwise would have been a nice day.
ReplyDelete- Rahul
And thank you for the blog, Smart Trader. It is helpful for day trading.
ReplyDelete- Rahul
Rahul
ReplyDeleteTrading is simple but always difficult
Please do not trade the method with real money now.
1.Identify the trades on at least 100 historical charts
2.Simulate the trades of another 100 days in a charting software 3.Then watch and identify the trades in live market at least for a month
4.Do not trade with real money till you totally trust the method.
Otherwise, I warn you, you will be trying to trade some other method next week
ST
Dear ST,
ReplyDeleteToday there were too much levels ...as per your Reference Points. But I only traded long at BRN and Booked at DO.. as I was also in some other TRADES....
Regards