Tuesday, 22 September 2015

Nifty F&O 22092015


It traded in a 20 point narrow range for long time till noon and then broke out. Entered on BO and could capture most of the vertical down move.  No other trades.

Now here is the chart of 8000PE.  If you had bought it exactly at the point where you sold the future, your money would have more than tripled.
8000PE chart,



8 comments:

  1. Hi Dave,

    Why you didn't sell when NF broke PDH/PDC for the 1st time.

    Thanks.

    ReplyDelete
    Replies
    1. Feel the nifty

      I avoid taking direct BO without proper setup, so did not sell at first attempt. But once it formed a range and remained in range for long time, it was easy to sell at direct BO of the range. That is the beauty of trading with ranges and DPs. If you do not have proper understanding of ranges and their importance at DP, better not to attempt trading.

      URD

      Delete
    2. Dave,
      I request you to elaborate on your words "BO without proper setup,.." ...

      ~zen

      Delete
    3. Senthil

      What I meant was, look at this video, http://www.charttechnicals.blogspot.in/2015/06/taking-breakout-trade-near-dp.html. It also means taking a trade when it is breaking out of the narrow range and pressure play setup.

      Don't just look at the patterns and setups. You will not get consistent success if you attempt trading with them alone. Try to learn to read the charts and price behavior.

      URD

      Delete
  2. Sir, rather than direct BO, We can trade it as MSP BPB trade... executed @ exact 7966 SL 7977

    ReplyDelete
  3. Sir, rather than direct BO, We can trade it as MSP BPB trade... executed @ exact 7966 SL 7977

    Please share your view on it.

    ReplyDelete
    Replies
    1. Anon

      Ignore MSP in a narrow range. When it is trading in a range, treat it as a range. MSP is significant only when it is in a trending mode.

      URD

      Delete