There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Thursday, August 14, 2014
14082014
Nifty opened above RN 7750. Missed the up move. Rest of the day it was chop within BRN and PDH. Tried two short trades both counter trend trades. Stopped out of these trades.
ST sir I took long trade there, when you exit from first short but exit with a small profit when Nifty bounced back from HOD. Second trade (short) as yours, exit at breakeven. http://dpintratrading.blogspot.in/2014/08/14082014.html
The place where you marked BO- immediately after that can it be treated as BOF of PDH and long be initiated ? The other signals are point to take long such as little gap up open and above BRN. Am I right in my thinking?
Why u avoided BPB long above days high and BRN 1.57? where was the long entry for u if it shooted strongly up from there.? how did u avoided direct PP longs above days high and BRN after so long consolidation and the range broken down failure at bottom (11.54)
I was very much biased towards shorts. Price has already moved up more than 250 points from the bottom I expected an unwinding of positional longs due to weekend and holidays so was looking for shorts. But it did not work
I took a BOF long at PDH just above the level where you TP of first short. I was hoping for break of BRN, but it was very choppy action around BRN too, so got out with few points at second BOF short level but didn't take the short. It was too fast also.
Wouldn't it qualify as BOF long at PDH? though I must say there was not much points movement from HOD of morning till PDH, but it just seemed like a BOF to me, even if a mild one.
Hi ST, Why was the trade wrong? I took that short also, to me it looked like a BO of PDH after FTC. I thought longs might be keeping SL below PDH. Please correct my error.
Could have waited for a good break and orderly pull back FTC combined with fluid below made me short. But market was extremely strong I expected good selling after the BOF of BRN . This one also revered
SL will be below the BO bottom Final exit will be where I entered short There is no point in hindsight analysis. The way we behave in real market will be totally different
Sir good evening,sir the low of 12.09 pm can be take as double bottom compared to the low of 11.54 am and what should be ideal distance of double bottom ,kindly update thnx
Usually I do not consider it as DB.It is somewhat like a second push down DB happens when price revisits the point after moving away well and after a reasonable time
how to change our on going bias with the flow of price? i mean how to know the present bias and how to know the bias is changing and wen bias change confirms ?
When price trades in a higher range bias is bullish. At a lower range bearish Alternatively if price breaks below a DP, bias is bearish. If it breaks above a DP Bullish
Hi ST, On many occasions one particular DP will provide more than one setup/opportunity ... over a period of time (e.g, multiple BOF's). Do you have any rules/guidelines you follow when the first and/or second setup fails?
Hi ST,
ReplyDeleteWhat was the thought process for taking second trade ?
BOF of Range High /BRN
DeleteI expected some long unwinding due to holiday and weekend
ST
ST sir
DeleteI took long trade there, when you exit from first short but exit with a small profit when Nifty bounced back from HOD.
Second trade (short) as yours, exit at breakeven.
http://dpintratrading.blogspot.in/2014/08/14082014.html
VKM
Nice trades.
DeleteVery tough day to day trade
ST
Thanks ST.
ReplyDeleteHi ST,
ReplyDeleteIf you took the up move, where would you have exited.
I will exit around 7780 as price was not showing momentum
DeleteST
Dear ST,
ReplyDeleteThe place where you marked BO- immediately after that can it be treated as BOF of PDH and long be initiated ? The other signals are point to take long such as little gap up open and above BRN. Am I right in my thinking?
Regards,
Veer
Yes . It was a long signal and the right trade
DeleteST
ST,
ReplyDeleteWhy u avoided BPB long above days high and BRN 1.57? where was the long entry for u if it shooted strongly up from there.?
how did u avoided direct PP longs above days high and BRN after so long consolidation and the range broken down failure at bottom (11.54)
Regards
Bharat
I was very much biased towards shorts. Price has already moved up more than 250 points from the bottom
DeleteI expected an unwinding of positional longs due to weekend and holidays so was looking for shorts. But it did not work
ST
There was Double bottom across PDH on 11:57 and 12:12. Can you explain the reason why we should not go long above the high of 12:06 bar?
ReplyDeleteBOF of PDH was the right trade to go long.
DeleteIn a higher range buy the lows. I was biased and messed up
ST
Thank you very much.
DeleteOnce your first trade failed, you could have possibly thought of a BOF long trade above the 12:06 candle with 7800 as possible target.
ReplyDeleteRight. Long was the right trade
DeleteOne should not have a bias and need to trade what we see on the chart
ST
I took a BOF long at PDH just above the level where you TP of first short. I was hoping for break of BRN, but it was very choppy action around BRN too, so got out with few points at second BOF short level but didn't take the short. It was too fast also.
ReplyDeleteWouldn't it qualify as BOF long at PDH? though I must say there was not much points movement from HOD of morning till PDH, but it just seemed like a BOF to me, even if a mild one.
Your trade was right
DeleteBuying lows when price trading in a higher range
ST
Hi ST,
ReplyDeleteWhat was your thought process for taking the BO of PDH? And did you consider taking the subsequent BOF of PDH immediately after? Thanks.
It was a wrong trade. Happened due to my strong bearish bias
DeleteI expected a sell off. Market had other plans. Even the BOF of BRN did not work
ST
Hi ST, Why was the trade wrong? I took that short also, to me it looked like a BO of PDH after FTC. I thought longs might be keeping SL below PDH. Please correct my error.
DeleteCould have waited for a good break and orderly pull back
DeleteFTC combined with fluid below made me short. But market was extremely strong
I expected good selling after the BOF of BRN . This one also revered
ST
If you were to take BOF long, ideally above which bar would you have taken it. Thanks again.
DeleteIdeal entry should be above the bar where I exited my short
DeleteST
Thanks a lot. Where would you have kept initial SL and where would the final exit be?
DeleteSL will be below the BO bottom
DeleteFinal exit will be where I entered short
There is no point in hindsight analysis. The way we behave in real market will be totally different
ST
Sir good evening,sir the low of 12.09 pm can be take as double bottom compared to the low of 11.54 am and what should be ideal distance of double bottom ,kindly update thnx
ReplyDeleteUsually I do not consider it as DB.It is somewhat like a second push down
DeleteDB happens when price revisits the point after moving away well and after a reasonable time
ST
Sir thnx
DeleteHi ST
DeleteNf in second half was in rising channel ..can the lower edge be treated as DP to enter long BOF trades..
Hi ST
ReplyDeleteNf in second half was in rising channel ...can the lower edge of channel be treated as DP and long bof trades can be traded??
I do not trade channels
DeleteChannels will not mix well with DP method
ST
my total brokerage with all taxes is 150 rs.,at current nifty price . wats ur brokerage with all taxes for 1 lot at current nifty price?
ReplyDeleteIt is around 120/- on a single lot of Nifty
DeleteST
Which brokerage is that? and the service?
DeleteBoth Zerodha and TSO
DeleteOrders are getting executed well and Down time is very very rare
Do not need or expect any other service
ST
im thinking to change my broker becoz charge is 150/lot.
Deletewhich one u prefer zerodha or TSO ?
Back office of Zerodha is very good and they are very innovative
DeleteST
ReplyDeletehow to change our on going bias with the flow of price? i mean how to know the present bias and how to know the bias is changing and wen bias change confirms ?
When price trades in a higher range bias is bullish. At a lower range bearish
DeleteAlternatively if price breaks below a DP, bias is bearish. If it breaks above a DP Bullish
ST
Hi ST,
ReplyDeleteOn many occasions one particular DP will provide more than one setup/opportunity ... over a period of time (e.g, multiple BOF's). Do you have any rules/guidelines you follow when the first and/or second setup fails?
When a DP trade fails It could be because of a BW or a Channel
DeleteIt is better to stay out till the picture is clear
ST
Sir good evening,sir sent a mail when time permits kindly check thnx
ReplyDelete