Nifty opened near PDC. First candle acted as IR. Skipped the BOF of IRH as there were three supports below . PDL/IRL, BRN and NSRN 6750. Long on BOF of BRN, PDL. Trade did not move scratched. Attempted two more trades. BO of IRH and BOF of IRH,PDC.These trades also failed. Scratched.
Dear ST
ReplyDeleteI am posting my trades for the past one week in my blog. please visit and give your comments. my blog url - http://nsemcxpriceaction.blogspot.in/ -- adhi narayanan
PA Trader
DeleteWill go through it leisurely
ST
Hi ST
ReplyDeleteEntered the PP trade as a limit order buy at 6822 and TP at 6840 as was expecting some resistance overhead.
Thanks
TBP
TBP
DeleteNice Trade
How did you exit? Like SS trades?
ST
Hi ST
DeleteI was not that bullish today and expected 6850 to be a stiff resistance.
My target was 20 points so exited around that.
TBP
Hi ST,
ReplyDeleteTodays Trades :- http://tinypic.com/view.php?pic=2lca9zo&s=8#.U15PcKLTq6I
-15 points
Trade 1 :- BPB IRL below BRN .I thought NSRN and BRN are aligned
Trade 2 :- BOF as you took
Trade 3:- PP
Trade 4 :- BOF of the other ectrem of the range
Trade 5:- PP as you took
Trade 6 :- same as yours
On self review I think I should avoid trade 3 and 4 by taking in to consideration the concept of Envelopes.
Usually I take only 4 trades but as I scratched the trades and my points were within my -20 limit i took the last two trades ...
Please comment on my trades , especially on the 1st 3rd and the 4th one ..Was there a slight chance for you taking those trades..
thanks n rgds
Kishore
Kishore
Delete1 BPB trade to a LOL is always low probability trade.
3 is also low probability. Trading into a strongly held level
4.is again into a strong level.
Avoid BO trades on range days and trade the extremes
ST
thanks ST
DeleteHallo,
ReplyDeleteWhy not BOF of PDC on 11th candle and BOF of BRN @ around 6800?
Shree
DeleteIt was not a BOF Just a TST. No body will try a long above PDC and get trapped. All long orders will be above previous day swing high at 6832 level.Cant expect order low from trapped traders. Notice candles 1,3,5,6 with lower tail rejection. I suspected buying at the level.Logical short location is below 11th candle. Then I did not find enough space.
I have entered long on BOF of BRN. it is marked on the chart.Scratched the trade later
ST
Sorry was reffering BOF of IRH...
ReplyDeleteYou marked BOF of BRN but trade taken on confirmation of BOF of IRL/PDL?
Shree
DeleteBOF of BRN long .Situation 4
http://niftynirvana.blogspot.in/2012/03/trouble-areas_14.html
ST
SMART Trader,
ReplyDeleteSent an email and also a PM on traderji. Awaiting a reply.
Thanks
Manjunath
Manjunath
DeleteI have not received them
Please check
ST
previously sent at smarttrade@ymail.com. Will send you again @ niftynirvana@gmail.com . Btw, is it possible that i send a mail and you never receive at your end?
DeleteThis comment has been removed by the author.
ReplyDeleteHi ST,
ReplyDeleteWhat do you see on the chart before you decide to scratch any trade? Could you please share?
S Roy
DeleteEvery trade begins as a scalp to the FTA.
Once price struggles to cross FTA it is time to be cautious.
usually my entries are on break of a formation like a minor pivot. once broken this flip should hold.
Even though my initial stop is beyond the extreme, I will consider scratching if price crosses back to the other side of the the DP convincingly. There is no other way ,but to accept the uncertainty Some times market will run 50 points after my scratch .I take a decision with the available information and act and accept the responsibility.
I don't care as long as I win more than I lose
ST