Thursday, 23 February 2017

Nifty Future 23022017


It opened at PDC and moved higher.  Formed a narrow range at RN.  Attempted a direct BO trade there ignoring PDH which moved some.  In noon time, it gave BOF of PDH/RN which also moved well. Looking at the momentum expected it to break 9000 today, so kept a buy order above the HOD to catch that move, but unfortunately markets decided to do opposite and it remained untriggered.

Subscribe to Champion Day Trader video tutorial, make a good use of this long weekend by watching it and learning from it so that you can trade much better from the start of next month.  The ranges that I draw on the chart will start making sense to you and once you club that knowledge together with DPs and price action reading, it will work wonder for you.

8 comments:

  1. So this proves again that Expiry day is difficult day in trading. how do you follow SL?

    ReplyDelete
    Replies
    1. Vinod

      Nowadays expiry days are in fact easy to trade. Just do your own research and have a look at last 5-6 expiry days. All the moves were nice and tradable like today. Today also it gave two good opportunities to trade with the strong trend and benefit from it. Day trading is all about catching small moves of 15-20 points.

      I hide my SLs always below or above the level as per the position. If it allows me more room, it is fine. For example the first trade. After the long entry above RN, it allowed me to hide the SL below swing low at 8940. For the second trade, it was at below RN which was acting as swing low again. My SLs are always within limits of 10-12 points. If it goes slightly beyond it like 15-17 points I will have to do position sizing. If it too beyond like 25-30 points, I will rather avoid that trade.
      Hope it clears your doubts.
      URD

      Delete
  2. Barbed wire around pdh, how can we consider for trade

    ReplyDelete
    Replies
    1. Anon

      It is not a barbed wire around PDH. Rather it is more like a complex pull back or a TRAP.

      URD

      Delete
  3. How to calculate risk reward as per dp method ? thanks Uday

    ReplyDelete
    Replies
    1. Anon

      It is always better to have 1:2 risk to reward. Means if you are risking 10 points into the trade, there should be enough space for the trade to move at least 20 points.

      URD

      Delete
  4. You meant a BPB of PDH/RN at Noon?

    ReplyDelete
    Replies
    1. Raghu

      I meant direct BO of HOD at that time around 8982.

      URD

      Delete