Wednesday, 15 February 2017

15022017

Yesterday there was not a good trade setup but today it was flooded with opportunities and all trades yielded profit.  I am posting here Nifty, Bank Nifty and ICICI Bank charts.

1) Nifty Future

Today again it got rejected from the same area at open and broke below PDC BRN.  Entered short on BPB setup.  It tested the patience but finally moved.  Then it traded in a range and when it failed to break out of range high, attempted short trade which yielded some.

2) Bank Nifty:

Here attempted a BOF of PDH and shorted below 20300.  It also moved well.  Attempted BOF of range high in afternoon which ended as a scratch.

3) ICICI Bank:

Here it was the same kind of setup as Bank Nifty and it moved very well.

Day trading is like owning a shop.  Sometimes there are lot of customers to handle and sometimes not a single customer visits the shop.  We will never know when these customers will come, what will be asked for, what business they will generate, but we have to open the shop daily, maintain it with the enough stocks and be ready always to do the business. 

11 comments:

  1. Well said Uday.
    Appreciate your uninterrupted contribution to the trader fraternity.

    ReplyDelete
  2. thanks for the post .. just wonder where I would have been without you, ST posts... though I have not made money yet ... reading through your posts..gives me the confidence .. . .
    :-)
    Zen

    ReplyDelete
  3. Manoj and Zen

    Blogging has given me a lot and it gives me an opportunity to interact with all of you good people from different parts of the world. Without all of you, writing something on the trading would not have been so much interesting.

    URD

    ReplyDelete
  4. Last paragraph is epic :)

    ReplyDelete
  5. Uday ,

    I shorted on break of PDL which yielded some , again shorted at 2:20pm but my logic is different as 3m candle volume reaches 4lac generally i have seen such volume of 3.5+ is reversal candle .May be i m wrong but any how it works. this my first profit trade of month

    ReplyDelete
    Replies
    1. Prakash
      Nothing in isolation works in trading, be it pattern or trend or volume or anything else. Try to include all of them in your decision making and then come to a conclusion.

      Apply simple logic. If profitable trading was so simple like you illustrated, this much of volume means this, every one trading will make money with this simple information. Does it happen like this? Think.

      URD

      Delete
  6. Nice trades Uday. Last lines are awesome, Good part is you always compare trading business with retail business\real time business. which gives more clarity what exactly trading is and how to deal trading as a business.

    ReplyDelete
    Replies
    1. Kiran
      Treating trading as a business is the only way to do trading.

      URD

      Delete
  7. sir yesterdays first trade in nifty where was your stop loss....?

    ReplyDelete
    Replies
    1. Anoop

      Above the swing high that formed above PDC.

      URD

      Delete