Thursday, 9 February 2017

Nifty Future 09022017

Today it gives me immense pleasure to share with all of you the success of a Champion Day Trader video tutorial subscriber, Chirag.  In the morning he sent me a mail and attached the chart marking the trade that he took.  It is the trade that only a champion trader can spot and trade.




He subscribed to the video tutorial in the month of January, here is the email conversation for that,


After watching completely the whole set almost two to three times he started discussing his thoughts and trade setups through email whenever he felt necessary.  He took his own time to understand everything and now it seems after putting his efforts in right direction he has got the grip on the subject.  It is a great achievement Chirag.  Keep it up.

Here is his feedback about Champion Day Trader video tutorial.  Hope it will help you take right decision.


 


7 comments:

  1. Well said ...URD deserve this :)

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  2. Uday & chirag sir,
    Ho w do u identify there is max resistance at 8830 though price opened and sustaining above PDH, also there is no pullback on breaking PDH, then how shorting done

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    1. Prab

      There are basically two things to DP trading. One is price reading skills and other is tactics.

      Regarding reading the prices, you find that 8830 is the last highest high that prices made few days back. After making that high, prices pulled back around 100 points. Now in the morning today prices open full gap up, test this level but even with this much of momentum still unable to break it. It means the level is acting as a good resistance again. So what to do at resistance? What to do at range highs? Selling or buying?

      Now what tactics you apply once you are able to read the prices like this for selling or buying. If you want to sell, you can sell at or around the level itself, 8830. You can sell after the retest of the level like the Chirag did. If you want more confirmation, you can wait till prices break the last support, in this case BRN. After filling the gap at PDC, prices paused for one candle. You can short below this too as BOF of PDH.

      So in short, you have 3 choices. You need to choose what suits you best, your personality as a trader, selling blind at the level, on failure of retest or on confirmation.

      Hope you got your answer. Read the TRADE-SCORE once again. Read the Decision Point trading E-book again. If you need more support, go for the video tutorial or mentoring. If you want someone else help in this matter, don't hesitate. But once and for all, make the basic understanding of the trading, trading system, risk management, etc very very clear to you. It is for your betterment.

      URD

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  3. Nice trade chirag wish you all the best..!!
    URD ye tho Guru ke bap nikla na mere Bhai.. Thanks URD.. By the by u r not find any setup today thank you..

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  4. Hi daveji, i am getting improvement on reading price action day by day. My emotions are in control compare when i last year feeling tensed when entry triggered and mess everything. What ismy question is? whats happen after 5 years if i do the same commitment. Is it possible for me to become champion trader? thanks

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    Replies
    1. Sai

      Good to learn that you are improving as a trader. Continue it the same way. Stick with whatever is working for you. Find your strength and weakness as a trader and work on it.

      I believe there are 3 stages that every trader goes through. First is the loss making stage. Every trader goes through it and pays the tuition fees to the markets. If you ensure your survival and somehow stick to it, at some point in time in your life you will reach to the second stage where you end up in a break even, not making good money but at the same time not losing any. Finally, after spending some time in this stage, you will enter into a final stage of making consistent profits month after month and year after year. It happens, it happens.

      Becoming a good trader is like developing a schema. It is like a routine that you do again and again, and once you do it again and again, you become a master of it provided you are doing it in a correct way. Unfortunately, most of the traders do not realize this. They either practice it wrong way or with insufficient knowledge and skills. Hope that is not the case with you.

      Once you acquire all the qualities of a champion trader, you will remain a champion trader for rest of your life. Will Virat Kohli forget how to hit sixes and fours ever?

      URD

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    2. Thank you so much. Your comments giving me confidence.

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