Friday, 1 August 2014

01082014


Nifty opened full gap down.
1) BPB of BRN on up side. This was traded in the gap and it filled the gap. Booked when it filled the gap with the profit of 39 points.
2) BPB of BRN on down side. It also moved very well.  Booked it around NS 7600 with the profit of 63 points.

I am also going to post Performance Review for the month of July 2014 today itself.  It will be under "Performance Review" section of the blog.

22 comments:

  1. Hi URD
    Very nice trades!! Congrats!!!
    In the second trade, I went short after the break of 7720 flip. NF broke it, pulled back, I went short on the PB.
    We were discussing as to what will happen when NF reaches 7800 the other day. We got the answer and how!!
    I expect a bounce to 7700 levels now may be by RBI Policy day (Tuesday).
    Lets see.

    Thanks
    TBP

    ReplyDelete
    Replies
    1. TBP

      Thanks. Nice entry to the trade.

      Your reading was correct. It was looking weak at 7800. Bounce is very much possible.

      URD

      Delete
  2. Take a bow, for July performance :)

    U pull trigger on time with no hesitation or freeze.. i feel this is only reason if some one continues in failure phase after getting introduced to DP trading!

    ReplyDelete
    Replies
    1. Rose

      Thanks. We should never underestimate the power of DPs and its potential.

      URD

      Delete
  3. Congrats Dev, great going.
    Any plans of getting full time into trading ?

    ReplyDelete
  4. Just to add to previous comment, curious to know what factors you are considering before getting full time.
    Reason: I am planning to be full time soon.

    ReplyDelete
    Replies
    1. xrtrader

      I am also seriously thinking about starting full time but due to other responsibilities I will have to wait for some time. Right now I will have to concentrate more on my present job. The trading is starting to take a toll on my work and creating other issues.

      You can plan to be fulltime if other responsibilities are taken care of. DP trading is really great. All thanks goes to ST. Wish you all the best.

      URD

      URD

      Delete
    2. Thanks Dave,
      Agree Trading taking serious toll on Day job. Will be full time trader soon.
      Yes Big thanks to ST.

      Delete
  5. UR Dave, nice trades. How long did it take you to learn Decision Point trading method? And do you have any recommendations or suggestions for someone new to DP who is looking to learn this trading method?

    ReplyDelete
    Replies
    1. Anon

      Thanks. I started my journey with DPs in 2012 and believe me it has been fantastic. It has changed my life.

      You take your own time to learn all the concepts very well. Never hurry. Once you feel you are well educated, confident and can apply those on the market, try to do trade simulation on as many charts as possible. Do it as if you are trading live. Do all the mistakes, analyze the areas that need more focus. Work on them. After doing all these things, start with as minimum risk as possible. Keep your eyes open and keep learning. Never give up.

      URD

      Delete
  6. Congrats Dave, great going, keep it up!

    ReplyDelete
  7. G8 Going Dave Ji Kem Cho
    suggestions for someone new to DP who is looking to learn this trading method?

    ReplyDelete
    Replies
    1. Anon

      Thanks. I just replied to same query. Please have a look a few comments above. Niftynirvana is the one and only best place to learn.

      URD

      URD

      Delete
  8. Dev ji See this Image
    http://i.imgur.com/b2km3YM.jpg

    ReplyDelete
    Replies
    1. Anon

      If you want to take a reversal trade of the up move it is better to take the trade on the break of swing low it made just before the swing low you marked. Else wait for it to break the BRN and then IRL.

      URD

      Delete
  9. Hi URD,
    You are managing the risk well. good trades. good performance again. keep going.

    ReplyDelete
  10. Great going URD. Wish you greater success.
    DM

    ReplyDelete
  11. Davebhai,

    Nice trades ....great going..

    I was confused with IRH today.. @9.42 shouldnt we think that irh is formed with BRN co inciding.. and failing or IRH and brn below 10.21 pivot? which chart u consider for trading after expiry ?

    I shorted below 12.33 but trailing sl hit above 1.15 then at BPB BRN the LOD at that time was very near so avoided that trade and below lod i thought it has straight move down the pullback trade will faill.. due to which i miss the complete down move even with earlier right entry :(.. pls guide me with your thought process.

    Thanks and Regards
    Bharat

    ReplyDelete
    Replies
    1. Bharatbhai

      I shifted to August contract on Thursday. Usually I shift after expiry day, on Friday.

      First three candles made the initial range but since the BRN was very near, it was considered as IRH.

      You would notice market traded above day open for almost 60 to 65% of the time. Then it got pulled towards DO and broke it. I took this signal as a major shift in the market sentiment. At that particular time, there was BPB of BRN short trading opportunity. I just combined these both things, i.e strong signal of change in sentiment plus good trade setup at good location. So I ignored the IRL but was ready to scratch the trade if it had shown the signs of reversal from IRL.

      URD

      Delete