Thursday, 23 April 2015

23042015


Today Nifty opened full gapup above PDH.  There was a good setup to go long as BPB of PDH above BRN.  I was bit late, missed it.  Then it fell a lot breaking PDH.  Took a chance and shorted below the minor swing low at 8437 though it had already fallen a lot by that time. Then it reversed without testing the BRN 8400 and I got out.  Attempted second trade when I felt it was not able to sustain below BRN 8400.  This time again did not get much as it pulled back very sharp.

I have learnt from my experience as well as from other traders that most of the good moves happen in the morning session and towards the end of the session.  I find the time slot of 9:15 a.m. to around 11:30 a.m. or 12 and 1:30 to 3:00 p.m. good for day trading. Today was a good example of that.  There were two good moves in the morning session and a couple more after 1:30 p.m.  What is your experience?

8 comments:

  1. You have got amazing consistency for winning trades, URD! Your 90 % trades turn out to be winners.
    And mine, 60 % loosers. :-)

    ReplyDelete
    Replies
    1. TZ

      I am "work in progress." There is a lot to learn.

      I have seen your charts on your blog. You are on the right track. Stick to it and keep learning. Your experience will make you take right trading decisions. It is a gradual process. This is what the trading journey is....http://niftynirvana.blogspot.in/2014/10/trading-journey.html
      URd

      Delete
  2. Daveji,

    Thanks for the chart. You are right, Best moves happen in the first 2 hours and the last 2 hours. I think in the middle 2-3 hours, BPB trades mostly fail. Working on developing a strategy based on this concept.

    Thanks,
    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      Most of the time there is chopping in those middle two hours. Even if we can catch one good move in the preferred time slot, I think it will be enough. Keep sharing your observation.

      Thanks.
      URD

      Delete
  3. That is true. First and Last 2 hrs for day trading: Especially the trending day.

    But When I open the terminal after 11:30 am I am able to feel the sense of the market and able to do winning trade . but If I was waiting for the market open with pre set of view in mind , which makes me to do more losing trade. Also doing more trade to recover the losing trades. need your view on this.

    ReplyDelete
    Replies
    1. Aris

      Try to come to the terminal with the blank mind. There are lot of things that affect the decision making process. Identify and try to eliminate them. Stick to what works for you and you are comfortable with.

      URD

      Delete
  4. URD,

    Please let me know where can we get free 3 mins charts similar to http://www.marketcalls.in.

    Thanks,
    Aristatle.S

    ReplyDelete