Nifty gaped up above PDH and sold. Entered short on break of IR. Entry was too late. Covered when it bounced from RN. Another short on BOF BRN/TST of PDC. Did not move beyond IRL. Covered on BOF of IRL. BOF of PDC/PDH gave a short signal and this trade also did not run as expected. Covered at 20 point profit
There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Tuesday, October 14, 2014
14102014
Nifty gaped up above PDH and sold. Entered short on break of IR. Entry was too late. Covered when it bounced from RN. Another short on BOF BRN/TST of PDC. Did not move beyond IRL. Covered on BOF of IRL. BOF of PDC/PDH gave a short signal and this trade also did not run as expected. Covered at 20 point profit
Monday, October 13, 2014
Friday, October 10, 2014
Connect the Dots
Three years ago, in the month of October, Steve Jobs lost his battle with pancreatic cancer at the age of 56.May his soul rest in peace. This man was brilliant and inspiring. His commencement speech to the graduates of Stanford University in 2005 was considered as one of the best (Watch)
He always spoke about connecting dots. Till recently I could
not get what it is all about.Here is a famous quote from Steve
“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t really do it, they just saw something. It seemed obvious to them after a while. That’s because they were able to connect experiences they’ve had and synthesize new things. And the reason they were able to do that was that they’ve had more experiences or they have thought more about their experiences than other people.”
“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t really do it, they just saw something. It seemed obvious to them after a while. That’s because they were able to connect experiences they’ve had and synthesize new things. And the reason they were able to do that was that they’ve had more experiences or they have thought more about their experiences than other people.”
Now I can relate this to my trading journey. I had spent
thousands of hours searching the internet and hanging around in trading forums
for a clue. This gave me a lot of ideas most of which were garbage. Finally I
was able to eliminate a lot and retain a few which were useful.
Connecting all these things together and making an “Actionable”
method took much more time. To be frank, I do not know when it happened. All I
can say is one fine morning everything fell into place magically and price
moves started making sense. Human brain is capable of doing it. Just give it
sufficient time and adequate exposure. We can’t force it.
Hang on ensuring the survival. Focus on “Actionable” concepts
and get a lot of exposure.
10102014
Nifty opened near PDL and sold. First candle was a MC. Avoided shorting below it as BRN was near. Price broke below BRN and bounced back. traded just above it for a long time. Long on a minor BOF.
TP when price got rejected from PDL. Then I suspected a channel. Later short on break of MSP as BOF of PDL/DO. Price went to LOD. Could not capture the full move. Exited on the bounce from BRN
Thursday, October 9, 2014
Wednesday, October 8, 2014
08102014
Nifty gaped down below PDL. The up move was swift. It did not give a pullback to go long . IR formed . This range acted as a Barbed Wire the whole day. Attempted a BPB long at BRN.This trade failed and I exited when price fell below BRN. Went short here as BOF of BRN.This was also a pattern failure. Covered when price bounced from LOD. Went long on the BOF of LOD. TP at BRN. Price is still below BRN 7900. If it gets accepted above this level, it will be a BOF of 26092014 low.I expect positional shorts to unwind then
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