1) Shorted at the low of first
candle, below BRN. Stopped out. Gave 11 points. In hindsight,
can’t understand why I took this trade in haste.
2) Wanted to short after price tested
BRN. But price fell down without testing it.
3) Shorted BPB BRN . Got 33 points.
Disclaimer: I am not a Research Analyst,
registered with SEBI. I maintain this blog only for my own learning purpose and
recording my thoughts on intraday activity of Market. I do not give any kind of
trading advice to anyone. My methods will result in severe losses. Hence please
do not follow me.
Nice Trades Karthikeyan. One request, Can you please write down in chart that which line is PDC or PDH etc. It will help a lot.
ReplyDeleteHi,
DeleteSure. I will mention the name of the DP, henceforth. I use Green colour for PDH and Red colour for PDL lines.
Thanks,
S.Karthikeyan
Its really frustrating to wait for good set with so much of patience, then execute the trade with all the hope, then price hits your SL and then, worst of all, market goes back to your desired direction without you on board... :( :(
ReplyDeleteHave a look at my second trade:
http://traderinthezone.blogspot.in/2015/04/18-04-2015.html
Yes. You were unlucky. I had faced the same problem for the last one year. It is always better to initiate shorts at Range High and Longs at Range Lows. Even if the trade goes against you, we can manage a safe exit. We need not give 10+ points. This is an area, I am working on.
DeleteThanks for the comment.
S.Karthikeyan
You did well to capture quick 33 points at the end of day.
ReplyDeleteThat is sheer luck. I was hesitating a lot, as already there had been a big fall. BRN didn't offer any support after getting tested. Candle with pinbar on the top, suggested, forthcoming fall. All said and done, I think, it is pure luck.
DeleteThanks,
S.Karthikeyan