30/06/2014

1) PDH was broken by the first candle, aided by  a mild gap up. No clear swing high for entry. Should have seen the 1 minute chart for swing high and entered. Missed the important signal of the day.

2) Didn't go Long on BPB of BRN, as already 70+ move was over.

3) There was a very long consolidation, with no clear signals to go short.

4)  BOF of Range Low  had to be ignored as BRN was so closely located.

So no trades for the day.

27/06/2014, FRIDAY

Didn't trade today. Had to attend to my Business. In the hindsight, it was a good day to miss. Could observe a few interesting things.

1) It is always better to use the Spot chart on the first day of a new series.

2) Range extremes and Major swing high/low in the closing session of the previous day MUST be regarded as FTA in the opening session.  Entries can  be  considered only beyond these levels in the opening session. After the opening session, levels of closing session of previous day can be ignored.

26/06/2014,FRIDAY

1)Previous day being NR, expected Gap up – BPB/BOF of PDH or Gap down – BPB/BOF of PDL. Second one happened.

It was a good opportunity. Broker has returned all the money back, to comply with SEBI rules, yesterday. Though the money was credited back in the Trading Account of last night itself, broker has not updated the records. Hence could not take the nice move downwards.

2) Entered Long above CH. After a prolonged spell of consolidation, price moved nowhere and had to scratch with 2 points.

3) Being expiry day,avoided trading in the last session, as it is only for Big boys.

ST made an interesting observation about today’s price action.

Be aware of the big picture. today is expiry
Nifty was trading between 7500-7600. Morning sell off itself showed the big boys want an expiry below 7500. Price fell to 7520. Now it is very difficult for the bulls to lift it above 7600. So they loosened their grip a little and allowed poor retailers to go long and made retail shorts to book profit. At the fag end a BOF. retail traders panicked and exited pushing price below 7500. These are all games big money play. Expect these kind of traps on expiry

24/06/2014, TUESDAY

Didn't trade today. In the hindsight, there were 2 good signals.

1) Opened with a CT inside Gap. It was expected, as there was a BOF in Day chart. Direct BO above IRH was a 40+  points trade.

2) Price consolidation just below the RH of Range 1 was a signal to go Long. But it is a low probablity, as the price has already moved more than 80 points.

3) BOF of RH of Range 1 was  another good signal. It was a 20 points trade.

23/06/2014,MONDAY

1) Price fell below PDC quickly. before the order can be entered. Missed the initial move.

2) Went for a SS Long above consolidation high. PDL resisted and exited with 5.5 points

3) Did the stupid thing. Went Long just in front of BRN, hoping that there will be enough stops to propel the price  further. Stopped out and lost 8 points.

4)  Took the BOF of DL and exited with 15 points.Should have got more points, but exited at 3.10 PM, due to want of margins.

When it looks like a TRAP, be prepared for 2 eventualities.

1) Consolidation near TRAP swing low/high and its break out.

2) Turning into a BOF, where an entry can be made at the other extreme or the immediate DP opposite to TRAP swing low/high.

Be prepared if you get stopped out on PP. It may be TRAP and get ready to reverse the trade at the other extreme or the immediate DP.

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 Smart Trader and U.R.Dave post their trades daily on their blogs and those new to this novel concept of trading can get their doubts clarified after Market hours, by these two brilliant and 'ready to help' trading
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20/06/2014, FRIDAY

1) Was choping inside IR for some time. So many DPs such as PDC, RN and RN Spot inside a narrow range. Didn't go for direct BO above PDC, as RN Spot was closely located. Further the trade is directed into a strong reistance zone of yesterday.

2) After chopping all over a narrow range, unexpected steep fall upto PDL resulted in BOF. Took up this Long, fluidity influencing in a big way. RN resisted and had to exit with 4 points.

3) Didn't short below PDL, as 7512 -7520 has been a strong support in the last few days. 

7500 is slowly getting weakened; if and when gets breached, a big move on the cards?

19/06/2014, THURSDAY

1) Tried to break BRN 7600 in the initial few minutes, but couldn't.  Shorted BPB of BRN, seduced by fluidity. Exited with 7 points.

2) Shorted BPB of  RL and exited with 7 points.

3) Missed the CT PP, was not sure as the trade is directed into chop zone. But the initial burst was good. Went Long on BPB of RH. Exited with 2 points.

With so many DPs and semi DPs around, price could not move freely.

18/06/2014, WEDNESDAY

1) Tried to break PDH, couldn't. Didn't go Long as BPB  of PDH, as 7660 level is a strong flip zone. Was right.

2) Having failed to move up, fell down after a long period of consolidation. There was a chance to join the bandwagon below BRN Spot, but didn't take it.

3) Went Long CT PP at the breach of swing high of first test of MSP. got 22 points.

No more trades for the day. Should improve in trading the momentum moves. Falling knife can be caught and speeding trains can be boarded.

NSE Holidays, NSE Market timings

Holidays for the calendar year 2014

Sr. No.	Date	Day	Description
1	27-Feb-2014	Thursday	Mahashivratri
2	17-Mar-2014	Monday	Holi
3	08-Apr-2014	Tuesday	Ram Navmi
4	14-Apr-2014	Monday	Dr. Babasaheb Ambedkar Jayanti
5	18-Apr-2014	Friday	Good Friday
6	24-Apr-2014	Thursday	Parlimentary Elections
7	01-May-2014	Thursday	May Day
8	29-Jul-2014	Tuesday	Ramzan ID
9	15-Aug-2014	Friday	Independence Day
10	29-Aug-2014	Friday	Ganesh Chaturthi
11	02-Oct-2014	Thursday	Mahatma Gandhi Jayanti
12	03-Oct-2014	Friday	Dasera
13	06-Oct-2014	Monday	Bakri ID
14	23-Oct-2014	Thursday	Diwali-Laxmi Pujan*
15	24-Oct-2014	Friday	Diwali-Balipratipada
16	04-Nov-2014	Tuesday	Moharram
17	06-Nov-2014	Thursday	Gurunank Jayanti
18	25-Dec-2014	Thursday	Christmas

*Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently.

The holidays falling on Saturday / Sunday are as follows:

Sr. No.	Date	Day	Description
1	26-Jan-2014	Sunday	Republic Day
2	13-Apr-2014	Sunday	Mahavir Jayanti

Market Timings

Trading on the equities segment takes place on all days of the week (except Saturdays and Sundays and holidays declared by the Exchange in advance). The market timings of the equities segment are:

A) Pre-open session
Order entry & modification Open : 09:00 hrs
Order entry & modification Close : 09:08 hrs*
*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

B) Regular trading session
Normal / Retail Debt / Limited Physical Market Open : 09:15 hrs
Normal / Retail Debt / Limited Physical Market Close : 15:30 hrs

Block deal session is held between 09:15 hrs and 09:50 hrs

C) The Closing Session is held between 15.40 hrs and 16.00 hrs

Note: The Exchange may however close the market on days other than the above schedule holidays or may open the market on days originally declared as holidays. The Exchange may also extend, advance or reduce trading hours when its deems fit and necessary.

16/06/2014, MONDAY

1) Price moved around PDL in the first few minutes. Strong rejection at PDC, the flip zone  was the first indication that price may go below PDL/IRL. Shorted below the low of first candle as BPB of PDL/IRL. Started focusing on flip zone without tails for keeping initial and trailing SL. Moved the SL to PB low/high only after a new flip zone is formed. This seems to be a much better method of trailing.Exited with 7 points.

2) BOF of  PDC/RH: First candle after BO candle confirmed good rejection, but there was no follow up selling resulting in lack of momentum. Hence didn't take this trade. Surprised to see a sudden fall. It flattered only to deceive.

2) Went Long at BO of PDC/RN confluence, TRAP and long period of consolidation being the attraction.Exited with 10 points.

7560 - 7580 seems to be a very good resistance. Can expect a good move up, if this level gets breached.

No other trades for the day

13/06/2014,FRIDAY

1) First trade entry was right. Went on to micro manage the trade and made a premature exit and lost a lot.

2) Took another low probability CT trade without  even waiting for the price to consolidate. Stopped out.

Time to do some book trading and improve on the execution. Now all that really matters is disciplined execution of what has been learnt. Not going to risk money, till I win consistently in book trading.

12/06/2014, THURSDAY Choppiness at its best

1) Opened with BOF of PDL/PDC.  Possible entry point for this Long is above IRH. Didn't go for direct BO as there was no consolidation. Can't think of BPB too as RN was too close; further the rejection was too strong to consider a BPB trade.

2) Upper tails in the narrow range looked like Absorption. Shorted just below RN. Exited 4.5 points loss.

3) Minor TRAP at the Narrow Range resulted in the BO of RH. Didn't take this trade, in the absence of order accumulation, as  I suspected that huge selling orders are waiting . Got it right.

4) BOF of DH was a good signal. Hesitated to short in the absence of swing low. Missed the best signal of the day.

5) Subsequent to BOF of DH, order accumulation was seen at the RL. Didn't take this BO as IRH is too close. Further I suspected Complex Pull back. Was eagerly waiting for BOF Long here. But time was already 2.50 PM. Can't take this Long due to want of Margin.

11/06/2014, WEDNESDAY

1

Started using IG charts. Looks quite good. Can't understand why it is not so popular among traders.

1) In the opening session, failing to test IRL, price started consolidating below PDH, making HLs. Took a direct BO and exited with 9.5 points. Could have got at least 10 more points, but badly wanted a winning trade to boost the morale, so exited deliberately. Yesterday's memories caused an early exit.

2) Didn't go Long as BPB of  BRN, as already 50 points movement was over. Was proven right.

3) Decided to short BOF of BRN, only if a swing low was available for entry. Didn't get it and missed the trade.

4) Waited for some time to let the consolidation come to an end.

5) Didn't go Long on BO of consolidation high, as it is directed into the consolidation zone.

6) BOF at consolidation RH was a TRAP signal. Didn't notice it and missed the move.

7) Attempted BOF Long at DL. Flip zone resisted and exited with 3  points.

10/06/2014, TUESDAY

1) Sold off in the initial few minutes. Placed an order below PDL and cencelled it, due to confusion on difference of price between MT4 and NSE. Missed an important signal.

2) Didn't take the PP, as PDL was closely located. Should have taken it as the space was around 10 points.

3) Went Long on BPB of PDL. Stopped out with 7.5 points loss.

4) Went Long on what I thought as TRAP. Lost 2.5 points.

09/06/2014, MONDAY

1) MT4 Chart didn't get updated for around 2 hours.

2) BOF of RH was a risky trade. Penetration was not strong. Price fell down rapidly without giving any swing low for entry. Missed this trade. Only available entry point was below the small BO candle low.

3) Double BOF of DL was a good signal. Went Long above the swing high. Price started consolidated without moving anywhere. Squared off at 5 points gain.  Could have got at least 10 more points, had there been some patience. Was a good lesson - be patient and just trail, even if the momentum is not there.

4) It very much looked like DH will be broken to make new High. Didn't take this trade, as it was already 2.45 PM.

06/06/2014, FRIDAY

IR Marking: First candle had a big lower tail and third one, a big upper tail. These were marked as IR, tentatively. When price came down, it respected the first candle low. So no need to adjust IRL.
On going up, price was resisted just a little ahead of third candle high. So, IRH had to be slightly adjusted.

1) BOF or BPB of IRH?
5 candles formed a micro consolidation bar at IRH, indicating order accumulation. Didn't go for a direct BO Long, as RN was closely located. Was right and it turned out to be a BOF with a nice swing low for entry.

Wanted to short this BOF. Was a little late in entering the order and price moved, without filling my order.

2) BOF of  IRL: Can't go for a direct BO of IRL, as there was not sufficient order accumulation at IRL to get sufficient momentum to break BRN Spot, located very closely.
WT  BOF of IRL was a good signal. But the clear swing high for entry was available only in the middle of the Range and hence skipped this.

3) Price action at RN:
Orders accumulated above IRH spiked the price above RN. Kept a buy order at the swing high, it was not filled as the price reversed confirming BOF. Took this BOF exactly at the swing low, before the IRH was broken. Was in 2 minds, first the trade is directed into the chop zone and secondly, the probability of Friday en masse exit of  critical mass (long) too hot to resist. Took the trade with a plan to exit, at the first sign of hurdle.  Exited with 3.5 points - 3 points for broker and 0.5 point for me.

4) BPB of RN was the signal of the day. But it was nearing 3.00 PM and Margin shortfall didn't let me take this trade.

Followed my system correctly and that was the positive going forward. Discipline and focus will reward in the long run.  

05/06/2014, THURSDAY

Real problem with me is that I am not able to take WT trades,may be due to the obsession with BOF. Should focus more on BPB and BO trades,  So, always looking to trade CT opportunities at Day High/Day Low, after missing the impulse moves.

1) Shorted at BOF of IRH and got stopped out.

Paradigm shift is needed in my trading. When you do not take the right trades, you are bound to get lost in the wrong ones.