Wednesday, 23 September 2015

Nifty Future 23052015


Nifty opened full gap down. Expected range bound move in the morning and attempted a short as BOF of PDL.  Got stopped out. Missed the up move. Later after breaking out of BRN it pulled back.  I wanted to go long attempting to buy range low and put the limit order, missed it by few points. Then took the direct BO of HOD then. Booked on FTC kind of setup. No other trades.
 

17 comments:

  1. Thanks for the chart. My trades were also similar.

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  2. Hi Uday,
    http://imgur.com/jNNI0kS
    Miss read market during management.

    ReplyDelete
    Replies
    1. Shashank

      Cannot open the image from here. Will try again opening it in late evening. Will be able to reply then.

      URD

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    2. Else send me an email with the attachment.

      Delete
    3. Shashank

      Checked the mail and could look at your chart.
      Your entry was good. It makes me happy to learn that you could recognize the range low and tried to buy there. You believed in the importance of learning and valued it and that is the reason you chose that route to go forward . The hard work that you put in, your dedication and perseverance, during the training period is now paying you off. Keep it up.
      Rest is trade management. It will improve once you start getting your entries more and more correct.

      URD

      Delete
  3. Dave,
    Thanks for your update.
    I thought I learnt DP style...but Im seeing different from what you see...
    (1) 12:00pm there was a BOF- BRN which you are not seeing
    (2) 12:55pm where you have marked 'missed this' ... I see it as BOF- BRN, which is not a signal to go long...but you see it an opportunity to go long ... pls enlighten me , ...

    ~zen

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    Replies
    1. Senthil

      It will be impossible for me to reply in the comment the whole DP system of trading. Lot of other things than only pattern are involved in thought process. I feel you need to go through all the posts made by ST sir one more time. Stop trading if you are trading till then. Markets are forever. Don't waste your money and time.

      URD

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    2. Hi Senthil,
      This pic is for you. Have a look at this pic. Hope, it explains few things for you.
      This is just my opinion. I am just a learner like you.
      http://imgur.com/8Oxnyb8
      Sunil Manohar

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    3. I take your comments seriously. ... I will go through the posts once again ...

      ~zen

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    4. To add to what Sunil suggested above in this url
      http://imgur.com/8Oxnyb8

      Note how resistance kept turning supports whole day today. Entire day was a channelized up move.

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    5. Thanks Bhavir,
      Thanks Sunil,

      There are more to read than just patterns ...
      ~zen

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  4. Today in the hindsight it may look an up trending day, but in the real time it was a tough day to day trade.

    What do you think?

    Umang

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  5. Umang

    Anything that goes in one direction only is difficult to day trade. Today it gave the opportunity to buy at the range low. It was at the point where I entered short. So instead of shorting one could have bought there. It was also a very good TRAP pattern. I avoided it only because I had just stopped out. I don't immediately reverse the trade or enter into a fresh trade.

    URD

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  6. Hello Dave sir,
    Could you please share details of the charting tool you use?
    Does it allow to playback intraday market action?

    Thanks,
    Prakash

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    Replies
    1. Prakash

      It is icharts. Browse their site for more details. It will cost you around Rs. 900 per month for F&O charts. You can play back candle by candle on historical 3-min charts.

      URD

      Delete
  7. Dear All,
    Zerodha is providing realtime java charts (time interval 1m, 3m, 5m etc.) free of cost for its clients. Link below.

    https://kite.zerodha.com

    Regards,
    Dinil

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  8. thanks for the info Dave sir,Dinil.

    ReplyDelete