Monday, 26 May 2014

26052014



Nifty opened full gap up.  Bias was positive.
1) Went long on its third attempt as BPB IRH RN. Booked when it could not sustain above BRN at 21 points of profit.  Could have booked early.
2) Took short on BPB of BRN 7500.  I was getting ready to book it at LOD, but thought of waiting for few minutes as NS LOD had already broken. Got rewarded very handsomely. Booked when second attempt to go down failed at LOL PDL/BRN. Profit of 171 points.
3) Got greedy and took third trade.  BOF of LOL PDL/BRN.  Took the help of 1 min chart for entry.  Booked when failed to go above MSP.  Profit of 17 points.

4 comments:

  1. congrates,,,you captured entire down move......it was simple but was not easy.....good control on your emotion..it seems.....

    ReplyDelete
    Replies
    1. Ath Shree

      Thanks for your comment. Patience sometimes pays off sometimes not. This time it did. At that time in trade I felt DO/LOD would be important. Once it broke there was a very fast fall. I did not expect such a fall. It came as a surprise but that is the market> It always surprises. When it took support at PDL and bounced I felt uncomfortable but controlled my emotion On second attempt when it failed to fall more, booked it immediately at first sign.

      Thanks.

      Delete
  2. First BPB my entry was same as yours but I exited as soon as price reached 7500.The upmove was very slow and didnt seem to have any strength. I was expecting a BOF at 7500 because of the sluggish upmove. Second trade I entered at the break below IRH and exited at PDC 7395 (at gap fill). Didnt take the third trade.

    ReplyDelete
  3. PATrader

    Nice trades. My personal feeling is that most difficult part of trading is not about finding a trading pattern or good entry point but to successfully mange the trade. Trade management is the key. We all need to learn that more if we want to become successful.

    Thanks.

    ReplyDelete