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Friday, April 24, 2015

24/4/2015, FRIDAY




1)Shorted BPB PDL. Got 5 points.

 2) Took another short below PDL after 3 attempts to breach it  on the higher side  failed. Got 4 points.

Market became too volatile, towards EOD. So remained on the sidelines.
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.

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6 comments:

  1. UnknownApril 25, 2015 at 12:06 AM

    I also tried exactly same as your second trade.

    ReplyDelete
    Replies
    1. nifty for breadApril 25, 2015 at 8:23 AM

      Hi, I am going to discard this signal henceforth. Such a set up is seen just above PDH and BRN, it works well. Not at PDL.

      Thanks,
      S.Karthikeyan

      Delete
    2. SuMaApril 25, 2015 at 9:10 AM

      You mean to say that you will trade up-move differently from down-move?
      Not sure if that's what you mean.
      TiZ

      Delete
    3. SuMaApril 25, 2015 at 9:11 AM

      You play very safe games....:)
      That's why you don't loose money most of the days.
      I like your trading style.
      TiZ

      Delete
    4. nifty for breadApril 25, 2015 at 4:22 PM

      Hi Tiz,

      After breaching PDH or BRN on the upside, if price could not move further up, after making 3 attempts, mostly you can expect a quick big fall. In case of PDH, sometimes fall happens after just 2 attempts. On 23/4/2015, price made 3 attempts to go up above BRN, but couldn't. What followed was a 90 points fall. These may be CT trades, but I feel that they are high rewards CT trades.

      I tried the same strategy at PDL. On 21/4/15 price came above PDL and could not move up further after 3 attempts. Here I shorted and had to scratch. On 24/4/15, price was below PDL and could not break PDL on the upside after 3 attempts. Here too, I had to scratch. So I have decided that enough is enough and this strategy should not be applied at PDL.

      This is what exactly I meant.

      Regarding how you deal with upmove and downmove - I don't hesitate in taking BPB shorts. But I am not good at taking BPB Longs. Mostly upmoves are slow, Further corrective waves of up moves are also bigger as opposed to down moves. Many times price has moved up after stopping out my Longs. So I prefer to take TT Longs at established RL instead of BPB Longs. This may not be the right approach, but I have to be safe, till my learning curve goes up sufficiently.

      Thanks,
      S.Karthikeyan

      Delete
  2. nifty for breadApril 25, 2015 at 4:27 PM

    Hi TIZ, hand

    Out of my anxiety to be safe, I have made many premature exits. I may have minimised my losses, but I end up minimising my gains too. Hope I get better with some more experience.

    Thanks,
    S.Karthikeyan

    ReplyDelete

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