Wednesday, 24 February 2016

Nifty Future 24022016


I have marked four potential good trade setups. As a range trader it was really a fun trading today. I remember what Virendra Sehwag replied to a commentator when he scored a triple century against Pakistan in Multan and became the first Indian batsman to score triple, "the ball appeared me like a football and I had no problem hitting it." Something of that sort happened to me today.  Thanks to the great ST sir.

4 comments:

  1. hi,
    1) where u booked your 1st trade.
    2) what is the thought process in taking 2nd and 4th trade.
    3) where u booked your 2nd trade.do u immediately take opposite side trade after booking a trade. your 2nd and 3rd trade.
    thanks

    ReplyDelete
    Replies
    1. Nirmal

      I have marked the potential good setups. It does not mean that I traded all those setups.
      1) It ended as scratch.
      2) I skipped the second trade as I did not want to trade CT at that time. Plus it was not at established range or DP. I don't consider RN as DP. However, having said that RN and BRN play a important role around expiry.
      3) Took the third and fourth trade with the thought process that CT move that started from RN got exhausted at BRN/PDL and there was FTC. Initiation of trade on exhaustion of CT move is one of the high probability setups.

      URD

      Delete
  2. Davebhai,

    I have few qurries for today.

    Market dropped almost 70 points from opening in single bar.Dont we wait for failures at some higher points to enter rather then taking bpb trade from where there is more probability of retracing and there by hitting our sl. Why you dint scratch your trade and it dint moved and enterd back to your entry price which you do mostly?

    Trade 3 and 4 are not near to any dp. what was the logic and signs behind taking them.?


    Thanks and Regards

    Bharat



    ReplyDelete
    Replies
    1. Bharatbhai

      Selling at high is always preferred, but what if market does not give us that chance. We need to learn to accept whatever is offered to us.

      Trade 3 and 4 are taken at the established range.

      I have replied to somewhat of a same query to Nirmal above. Please have a look.

      URD

      Delete