Friday, 19 February 2016

10 comments:

  1. URD,

    Reg 2nd trade...why we not wait for swing point formation after BOF?

    To be precise..in what case we look for swing point and viceversa

    ReplyDelete
    Replies
    1. Rose

      I have drawn a small line on minor swing pivot and one can enter long on its break. If you cannot enter here, then the next entry point is at MSP 7178. Even if you miss the MSP, it gave you the third chance to enter long on the PB at MSP.

      URD

      Delete
    2. Forgot to add. I always enter on break of such minor pivot high/low. This entry technique is known as entering only on confirmed setup. I find more advantages with this, so prefer such.
      URD

      Delete
    3. URD,

      Seems I am confused in a basic concept.
      In 1st BOF short, u entered on break of swing low formed after BOF event.. which is fine. As we learned from ST sir here


      But in 2nd trade, your marking of swing high is formed before BOF.. which is contradicting with the way 1st trade executed.

      Hope u understood my question.. pls clear this, as I see I am missing good trade setups as I wait for swing high/low formation after BOF event.

      Delete
    4. We trade acceptance and rejection of prices. Here BOF means rejection of prices from LOD. Now how would you ensure the rejection is for real?
      For that think like, where would you put your SL if you were already riding the short at that time? Would you cover your short where I have marked the swing pivot? If yes, then why cannot you create a fresh long position there and benefit from the order flow of trapped traders.

      Hope now it is clear to you.

      URD

      Delete
    5. Rose
      Did you click on G+1, FB, and Twitter buttons?

      URD

      Delete
    6. URD,

      Perfectly makes sense now.
      Yes, I shared on Twitter and Google accounts. FB i don't have account.

      Delete
  2. Thanks URD, Cleared lot of doubts. Kudos.
    Sourish

    ReplyDelete
  3. Hi URD,
    Where u place SL for first trade? i also took that trade n stopped out @ 7201

    and also in second trade strong rejection from 7197 levels (pin bar formed) to 7177, where is your trailing SL? Usually we book when strong rejection pin bar formed is it right?

    Thanks.

    ReplyDelete
    Replies
    1. AKS

      Trade management once you enter into the trade is the biggest challenge for traders. You have to have clear understanding of where to exit. You do not need to know where I put the SL but what is ideal level to put the SL. Go through the post Initial Stop Loss by ST sir for some understanding for placement of SL.

      URD

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