Nifty gaped up above PDH.Failed to go below NS BRN 8200 level which was day open. Long on BPB PDH on break of RN. It was just trailing afterwards. Price stalled at BRN and there was a TRAP pattern there. Then it was a 20 point range for a long time. TP on BOF of range high. Skipped BOF of range low as there was NS BRN, RN and Range high above.
Hi ST,
ReplyDeleteMy trades
http://tradingdecisionpoints.blogspot.com/2014/10/blog-post_31.html .
Please comment on my trades especially the TP of the first trade
thanks
Kishore
On type 1 trend days, most of the time there will be a TRAP or a CPB in between
DeleteThere are two ways to deal with it either give a little room for your stop to accommodate CPB or exit at DP and reenter on TRAP or reversal.
Here mental stops can also be used. My protective hard stop was at 8290 as I was already in good profit. I watched the price move and decided to exit if a candle closed and settled below the swing low. This did not happen and I escaped the stop out. These are all tactics. Use your imagination
ST
thanks ST
DeleteI hesitated to re enter because nifty was already up 100 points
rgds
Kishore
Hi ST
ReplyDeleteThanks for the charts!!!
TBP
hi sir,
ReplyDeletegenerally your first trade start after 10a.m. .. pls tell your average of first trading time...
thanks.
I do not keep such statistics
DeleteBut generally big moves wont happen during lunch time 12.30-2.15
ST
what was your thought process during 10.45 to 11.00 AM
ReplyDeletePrice never came below my entry point.
DeletePrice traded above RN safely.Next DP was BRN.
Usually once price breaks an Option strike, it will move to the next without much resistance
In other words market has a tendency to range between two option strikes
ST
was there a valid BOF of BRN?
DeleteYes. It ended as a CPB or TRAP
DeleteDo not go CT on a trend day unless price breaks MSP convincingly
ST
thanks a lot :-)
Deletewhats the breakeven points with 1 lot now(25)?
ReplyDeleteIt will be around 3 points ( Rs 75/-) a round trip
DeleteST
yesterday it was 85 per lot(25) in zerodha
Deletergds
Kishore
Hi ST,
ReplyDeleteI am trying to understand NSBRN. Please check attached chart http://imagizer.imageshack.com/img674/1372/JEKtJb.png. Price is above NSBRN (first red line ) we can boldly go long if our criteria are met. Second NSBRN redline, are we thinking of exiting in the highlighted area?
NS levels are not considered as DP
DeleteYou expect some reaction there and take an appropriate decision
Trade decisions are made as per NF price action
ST
Hi ST,
DeleteThanks a lot, I dont get NS Spot with my data subscription, is it ok to use a 5 min chart from bazaartrends for seeing where Spot is in relation to Futures?
Spot value you can always see on trading terminal. That is enough
DeleteST
Hi Sir do u trade in nifty options
ReplyDeleteNo.
DeleteST
ST,
ReplyDeleteGood morning. Globaldatafeeds has said they wont be able to provide data two days this week because of some testing at NSE. How about icharts?
No official confirmation. May not be
DeleteNSE is shifting the trading to Chennai DR servers for two days
ST