Search This Blog

Wednesday, January 22, 2014

22/01/2014




Nifty  opened just above PDL, fell down further and breached BRN 6300. Shorted  below BRN as BPB @ PDL/BRN. It was the mistake of the day. Entered the trade even before IRL was formed and paid with SL. It is a valuable lesson – Before IRL is formed, don’t go BPB short; similarly don’t go BPB long before IRH is formed, even though DP may be inside the IR. This doesn’t apply for BOF (with huge volume) trades. The reason is, when a DP is inside IR and BOF happens here, that DP may well be the IRL or IRH.  
Didn’t take the BOF – BRN, IRL. Could have entered Long above  IRH.  Didn’t do so as PDC was closely located. First mistake warned me to take a high probability trade.
Took the BOF on the second attempt to break PDH. Scratched with 3 points loss. Nothing wrong with this trade and it is just a matter of things beyond our control. Really surprised by the huge volume of  buys, subsequently. A tough trading day, which taught a few things for a price.
Didn’t lose my cool after the first mistake.  It is the positive. Green Tea must be credited for that?   


Posted by at
Labels: , ,

7 comments:

  1. AnonymousJanuary 23, 2014 at 8:04 PM

    Hi Karthikeyan,

    good start....:)

    I am also regular reader of NiftyNirvana..and seeing your comments...

    I think i am the first person posting comment in your site...:)


    Thanks,
    Mahesh

    ReplyDelete
    Replies
    1. nifty for breadJanuary 23, 2014 at 9:17 PM

      Hi Mahesh,
      Nice to see your comment.

      Yes, You are the first person to post a comment in my Blog. I have to learn a lot more. It will be really nice of you, if you can post your comments on my trades, whenever time permits.

      We have come to the right place in our search for trading wisdom. Believe that with patience and perseverance without looking anywhere else, we will reach our goals.

      Thanks for your comments.
      S.Karthikeyan

      Delete
    2. AnonymousJanuary 23, 2014 at 10:25 PM

      Hi Karthikeyan

      Need some info regarding chart...
      I am paying 500 per month for chart data.. could you pls tel me for i chart nifty, how much you are paying?


      Thanks,
      Mahesh

      Thanks,
      Mahesh

      Delete
    3. nifty for breadJanuary 24, 2014 at 12:02 AM

      Hi Mahesh,

      Just 2 days ago, I paid Rs.899 per month for icharts. There is almost no time delay, works well even with minimum internet speed. Drawings of the previous day can be saved and used for the next day.

      Deven Malhotra, a Nifty Nirvana blogmate has suggested a few days back that he has no issues with the chart of investing.com. He also added that by opening a demat account in sharekhan at zero cost, you can use their chart, which seems to be as good as icharts. No need to trade with Sharekhan, you can continue to trade in the platform of your brokerage house.

      Hope this helps.

      Thanks. S.Karthikeyan

      Delete
  2. AnonymousJanuary 24, 2014 at 9:25 AM

    Hi Karthikeyan,

    Thanks for your info..


    Thanks,
    Mahesh

    ReplyDelete
  3. AnonymousJanuary 24, 2014 at 10:46 AM

    Hi Karthikeyan,

    I saw your comments and your intention to learning the process. Even it is same from my side..
    If you wish, why cant we discuss and do the trade...I am also following "niftynirvana"..and need some one to discuss.. nothing harm to discuss.
    reply with your openion...:)


    Thanks,
    Mahesh

    ReplyDelete
  4. nifty for breadJanuary 24, 2014 at 7:33 PM

    Hi Mahesh,

    It is a good idea. We can ping through gmail and do that. But the problem is, the internet speed is too low in our neighborhood. Even for trading, I am using Zerodha html platform only.

    I have an old computer with me. I can use it exclusively for chatting purpose, using another internet connection. I will try to get it serviced.

    In the meantime, we can discuss after market hours. Why don't you start a blog and post your trades? That will help in understanding the trading approach of each other.

    Thanks. S.Karthikeyan

    ReplyDelete

Subscribe to: Post Comments (Atom)