Thursday, 10 September 2015

Nifty Future 10092015




DP trading was at its best today.  There were four possible trade setups per the system that I could spot.
1) PP kind of setup. 2) BOF of DO.  3) BOF of PDL.  4) BOF of DO again.  Which one you took?


I could trade only the third setup as I was away in the morning.  Missed fourth as I had just exited from the trade.

As suspected, it seems bulls have regained control since the appearance of Bhole Shankar on TV.

6 comments:

  1. Davebhai,

    I have few querries. posted in the chart as below.

    http://i.imgur.com/5OyKd6L.png

    Regards
    Bharat

    ReplyDelete
    Replies
    1. Bharatbhai

      It traded in roughly three ranges. First one was LOD to DO, second DO to PDL and third PDL to day close. On setup 2, we attempted to buy the range low of the range which was already above the previous range. Yes, the entry was in middle of the range, but that was the only setup we got. If you do not feel comfortable trading there, avoid it. At setup 4, again long trade is with the same logic,range above earlier range. You expect the second leg down, but if it is not coming then what would you do? Stick with your expectation or change with the market. For your third query, no, we can't enter long there as you marked. Reason, expect some consolidation after big down move for some time. Also it was CT. Direct BOs work well with with-trend kind of moves.

      URD

      Delete
  2. Too good to believe...all fake.....noone makes money day trading.

    ReplyDelete
    Replies
    1. Anon

      I don't have any answer for nonbeliever. For trading, first you need to believe in yourself and your system. If you don't believe, do not ever attempt to trade. Find something else where you believe in.

      This is the only trade I took. Have a look at this, http://imgur.com/gRq24L9

      I am sharing with you a chart that was shared with me earlier today. Have a look at it. This is how a believer, well-trained trader analyses the market situation and trades with the knowledge and makes money.

      http://imgur.com/wCL4eZO

      URD



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    2. Hi URD,
      You don't need to make the non believers believe. You are doing an excellent job and don't take comments like these to mind.
      To the anonymous, Market doesn't care whether you believe in day trading or not. So do the successful day traders. Learn if you want to or stay away if you don't want. But never make a criticizing comment like fake on the person who is providing a selfless service to the community.
      URD, sorry for replying without permission. I just couldn't control myself.

      Delete
    3. Jagadeesh

      Thanks a lot. I have learned my way to deal with this cyber bullying. It does not affect.

      URD

      Delete