There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Monday, August 4, 2014

04082014


Nifty opened within previous day closing range. IR formed went long above IRH as three attempts to fall below IRL failed. Nifty stalled near BRN and drifted down. Exited at a small profit. Tried a short below IRH as BPB. Trade failed stopped out above the pull back swing high. Long on BOF of IRH. Trailed and stopped out below BRN. Could not capture the last leg up.
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24 comments:

  1. UnknownAugust 4, 2014 at 3:47 PM

    Hi ST
    Took TST IRL long as price was not breaking down even third time.
    Valid trade??

    Thanks
    TBP

    ReplyDelete
  2. rockyAugust 4, 2014 at 4:13 PM

    if you post the trades price then it will be very helpful as some of abbreviation i am not able to understand thanks

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 4:32 PM

      We are trading the horizontal price levels visible on the chart. Exact entry exit price are not at all relevant for the method. it is required only for feeding orders. Entry,exit points are shown with small lines on the chart

      Delete
  3. UnknownAugust 4, 2014 at 4:23 PM

    Dear Sir,

    1.) Regarding your second trade (BPB of IRH , 13:15 candle). After price breached IRH on downside, it reversed immediately and traded more than 30 minutes above IRH (even broke high of candle which breached IRH on downside). Should it not nullify the negative bias for this attempt and should u not have waited for candle close for attempting short (13:54 ,for a proper bpb in this case ).

    2.)Regarding your last trade... When price fell back into BRN area, u exited... But why did u not considered MC (14:48 candle) which broke BRN on upside ??.. May be u could have put yr trailing SL below this MC as u were still not in loss.

    regards,

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 4:58 PM

      1.Price was making lower highs. So I expected a breakdown. Daily was also in decline mode
      2.Could have done it.

      ST

      Delete
  4. VKMAugust 4, 2014 at 4:28 PM

    ST sir
    I took only last trade, BOF of IRH long and exit at EOD, my TSL was below 14:48 bar low at 7691 which saved my position.

    http://dpintratrading.blogspot.in/2014/08/04082014.html

    VKM

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 5:00 PM

      Good trade.
      My range trading mindset always prevail. I am not very good at trailing

      ST

      Delete
  5. Only NiftyAugust 4, 2014 at 4:30 PM

    ST Sir,
    Strange day, none of my plans converted to trades!

    Planned for BPB short below IRL, not triggered
    Planned for BPB long above IRH (not direct BO, as day trend is down) but NF zoomed
    Planned for BOF short at BRN.. After TST, sold off
    Planned for BPB short below IRH BO candle, not triggered 1st time.. avoided later seeing BW formation
    Planned for BOF of BRN, but avoided later as it came near EOD.

    Finally NO trades executed for today.

    ReplyDelete
  6. BharatAugust 4, 2014 at 4:33 PM

    ST,

    i couldnt understand direct long above IRH brkout.. there was no pp ther also trend down. .. i was looking for IRH brkout failure trade and missed the oppurtunity.

    Second thing.. once we broke out the days range becomes.. 9.42 low to 10.51 high .. why u initiate a trade in the middle of that range.?

    Regards

    Bharat

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 5:09 PM

      Market fell more than 100 points the previous day. Some positional shorts will be holding this
      A Gap up scared them and when price made an IR, some weak shorts might have kept the stops above IRH. I was just betting on this. That sudden up move was stop triggering
      Market formed two ranges. IRL-IRH and IRH HOD/BRN. Traded the breakdown of second range

      ST

      Delete
  7. Only NiftyAugust 4, 2014 at 4:36 PM

    ST Sir,

    reg your 3rd trade, i didn't consider this long opportunity.. as i suspected BW..& thought IRH lost it significance as NF moving around same DP long time!

    what is your thought process behind this trade?

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 5:10 PM

      I did not see it as BW.Saw it as different ranges and bought the range low

      ST

      Delete
    2. Only NiftyAugust 4, 2014 at 5:24 PM

      Nice, initially i viewed this range.. but after i suspected BW.. i forgot range to consider.
      Took the point!

      One more query, had this trade failed.. do you consider it as BW and avoid further signals?

      Delete
    3. SMART TraderAugust 4, 2014 at 7:22 PM

      On hindsight analysis I feel 13.15 BO was not very convincing and the short as BPB was too early
      It was the real BO. If it fails to move up I will stay out.

      ST

      Delete
  8. amberAugust 4, 2014 at 5:51 PM

    Sir good evening,sir sent a mail when time permits kindly check thnx

    ReplyDelete
  9. veerAugust 4, 2014 at 5:59 PM

    Dear ST

    Was it wrong to take the BO of IRH - long at 9.32 a.m.?

    Regards,

    Veer

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 7:09 PM

      It was too early to take a CT trade
      You need to ensure some stop accumulation on a BO
      You notice the fall from 7670 area last day. You are trading against such a trend
      After such moves give market some time to consolidate

      ST

      Delete
  10. veerAugust 4, 2014 at 7:54 PM

    Thanks

    Regards,

    Veer

    ReplyDelete
  11. UnknownAugust 4, 2014 at 10:29 PM

    Hi st,

    I also put my long order where is ur 1st order but unfortuntiely it was not filled. May i know what was ur limit order there???

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 10:53 PM

      Sometimes on BO trades, it happens
      I kept a trigger of 7670.25 and a limit of 7670.75. It got executed

      ST

      Delete
  12. UnknownAugust 4, 2014 at 10:39 PM

    ST sir,
    Can u plz elaborate IR how much candle taken into account till now i took only two candles to decide IR.
    Thx in advance

    Ssdhiman

    ReplyDelete
    Replies
    1. SMART TraderAugust 4, 2014 at 10:54 PM

      There is a separate post about IR
      Check under important posts/structure and patterns

      ST

      Delete

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