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Tuesday, April 28, 2015

28/04/2015,TUESDAY




1) LOL BOF @ DO. Took TT Long  at PDL. Got 15 points.

 2)Wanted to place a TT Long at RL. Decided not to do it, as the momentum of down move was too good.

3) Shorted at the previous swing low, as price came inside IR. Exit of critical mass helped in this down move.  Exited above BRN. Got 34 points.

4) Shorted on seeing BOF @ RH of consolidation. Got 23 points.

5) Longed above RN. This moved well. Got 59 points.

Got my maiden Century today. Thanks to ST Sir and  Daveji, who are guiding us and making us better traders.

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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18 comments:

  1. SuMaApril 28, 2015 at 3:26 PM

    WOW !! Just amazing.
    Many many congrats for your first century.
    Feeling very happy that your persistence and hard work is paying off.
    I had just an average day...
    TiZ

    ReplyDelete
    Replies
    1. nifty for breadApril 28, 2015 at 6:27 PM

      Thanks. It is only a question of time, before we improve and start winning consistently.

      S.Karthikeyan

      Delete
  2. xrtrader1April 28, 2015 at 3:39 PM

    Congrates...

    ReplyDelete
  3. ArvindApril 28, 2015 at 3:45 PM

    Hi KS,
    Congrats , Good going. keep it up. You picked up every movement perfectly .

    Thanks.
    Arvind.

    ReplyDelete
  4. smartthingsaroundmeApril 28, 2015 at 4:26 PM

    Congrats Karthikeyan sir.

    I have a Couple of questions for you. How much time did it take to get to this (when did you start with trading DP)? Do you trade full time? I have just started my journey. So far, I have only had losses. But I have not given up hope. Looking at people like you, I get inspired.

    Lastly, Can you please tell me your strategy to learn DP? Did you just go through ST sir's blog? While trading, do you follow any other rules/indicators apart from DP

    Any other suggestions/guidance to improve.

    Sorry for so many questions. But This would help a lot of beginners like me

    Thanks
    Vivek

    ReplyDelete
    Replies
    1. nifty for breadApril 28, 2015 at 7:18 PM

      Hi Vivek,

      No need to call me Sir. I am also a student of trading. I have just had one good day. I still have to improve my consistency. ST or UR Dave are the right persons to answer your questions, as they have traveled the distance and are winning consistently. In fact they have written Posts, which answer your questions.

      Here is my perspective. Let me remind you again that this is the perspective of a trader, who is yet to start winning consistently.

      I have been following ST since September or October 2013. I am trading full time. I have never traded more than one lot. I am a slow learner and hence I am yet to win consistently. Not necessary that it will take so long for every one.

      If you scroll through my blog, you can find all the possible mistakes, a trader can make. I made all the mistakes, be it marking the Ranges or using DP trading as a pattern strategy. So, you are not alone. Everyone has to undergo this seasoning. But the point here is: You have to keep reviewing your trades on a daily basis and a monthly basis. Updating your blog regularly will help you in this.

      We all start off making too many mistakes. When we can spot the mistakes, the right method will spontaneously reveal itself.

      Hope that the below mentioned points may be of interest to you.

      1) Everyone knows that BOF trades are the best trades. But I suffered a lot due to my inability to judge what is a genuine BOF. I took many counter trend trades and paid the price. All, that I needed for a BOF trade was a Pinbar or engulfing candles at a DP Only after I could judge the bias, I could see the BOF in line with the bias and against the bias. ST has written a separate post on Bias. Please go through it. Start looking for trade opportunities in line with bias.

      2) Please go through the blogs of ST and UR Dave and read all the comments.Feel free to ask your questions. When they are prepared to help, let us thankfully accept it.

      3) I tried to take all the trades, ST does and paid the price. The reason is simple: Analysis of ST is thorough and he could spot all the little things, which I could not. So I am working on tweaking it slightly, as per my understanding. ST has written a post “Own Your System”. Please go through it. You can find the link under “Know Thyself” in my blog.

      4) I keep documenting all the dos and don’ts of every trading day and keep going through it again and again. It really helps.

      5) Please go through all the posts of ST and UR Dave. Please go through their E books again and again.

      6) Before we put in real money, do book trading for some time, till you gain confidence.

      7) My firm belief is that, if we can stick to this method as long as it takes without losing what we can’t afford to, then there is a very strong chance for everybody to become a successful trader. How long does it take? It varies from person to person and honestly, we will know it only when we win consistently. My learning still goes on.

      All the best for your successful trading career.

      Thanks,
      S.Karthikeyan

      Delete
  5. athshreeApril 28, 2015 at 7:18 PM

    excellent.....shifting both ways ...amazing ..nice trades and returns tooo....

    ReplyDelete
    Replies
    1. nifty for breadApril 28, 2015 at 7:25 PM

      Hi Ath Shree,

      Today I could pull it. But I have to become consistent. Thanks a lot.

      S.Karthikeyan

      Delete
  6. augubhaiApril 28, 2015 at 7:41 PM

    Hi Karthikeyan,

    Nice trades, but I liked your exits the best. Could you please share your logic/method for exiting near the extreme of the moves?

    Regards,
    Augubhai

    ReplyDelete
    Replies
    1. nifty for breadApril 28, 2015 at 8:19 PM

      Hi Augu Bhai,

      I have been very poor in trailing and managing the exits. Fortunately, today, everything fell in place.

      Price was reacting as if electrocuted on touching BRN at Day Open.

      One thing, I have observed quite frequently is that when BRN gets established as LOD or HOD, it will remain intact at least upto 2.00 Noon.(definitely not before 1.30) Even if BRN gets breached on such days, mostly it becomes BOF upto 2.00 Noon. Some serious big quantity selling or buying is needed to break BRN on such days, which may come only post Lunch after 2.00 Noon. So I exited with limit orders above BRN.

      Thanks,
      S.Karthikeyan

      Delete
    2. augubhaiApril 29, 2015 at 9:25 AM

      Hi Karthikeyan,

      Thanks for your insight.

      Delete
  7. nifty for breadApril 28, 2015 at 8:00 PM

    This comment has been removed by the author.

    ReplyDelete
  8. RajuApril 28, 2015 at 10:10 PM

    Dear KS,

    After long time, i opened your blog today.
    Wow what a surprise, Great... I am really happy to see this.
    I am sure you will win more and more, Good going keep it up

    Raju

    ReplyDelete
    Replies
    1. nifty for breadApril 29, 2015 at 6:11 AM

      Dear Raju,

      Your encouraging words mean a lot to me. Thank you so much.

      S.Karthikeyan

      Delete
  9. UnknownMay 5, 2015 at 2:37 AM

    Hi SK, Congrates... I need some help on setting up the amibroker. can you please let me know your email id. mine is sabarena_aris@yahoo.co.in

    Also I would like to talk to you to understand your style of maintaining the blog.

    Thanks,
    Aristatle.S

    ReplyDelete
    Replies
    1. nifty for breadMay 5, 2015 at 6:42 AM

      Hi Aristatle,

      My E-Mail id is: gomramkar@gmail.com

      Thanks and Regards,
      S.Karthikeyan

      Delete

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