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Tuesday, May 19, 2015

19/05/2015, TUESDAY




1) Took PP set up Long. Exited at PDH. Got 14 points.

2) Shorted when momentum of Bulls was on the decline. Should have waited to see the strength of bears. Gave 8 points.

3) Another PP set up formed below Higher TF Resistance. Took the Long hoping that the resistance will be broken. Exited at the first sign of resistance.Got 4 points.

Disclaimer: I am not a Research Analyst, registered with SEBI/MCX or any Exchange. 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. UnknownMay 19, 2015 at 3:11 PM

    Hi Karthikeyan,
    Can you please elaborate why you have taken that second trade??

    ReplyDelete
  2. nifty for breadMay 19, 2015 at 3:31 PM

    Hi Jagadeesh,

    I lost focus when I took that trade. I thought that the bulls are losing momentum, as there was no follow up buying. I took the trade in haste, before I could actually see the strength of bears. In hindsight, I can't understand how I took that trade.

    Thanks,
    S.Karthikeyan

    ReplyDelete
  3. UnknownMay 19, 2015 at 3:38 PM

    Yeah got that now and that is absolutely normal when we use momentum analysis in trading... :D Try to avoid taking counter trend trades in between the structural boundaries. We can take CT trades only at the boundaries.

    ReplyDelete
    Replies
    1. nifty for breadMay 19, 2015 at 4:23 PM

      If a strong CT BO happens and PB entry is available away from the structural boundary, that can be taken, I think. Your first trade in crude oil(yesterday) was such an entry?

      Delete
    2. UnknownMay 19, 2015 at 4:31 PM

      yeah. when that is broken, trend changes to down. What i have taken there is a withtrend trade as the trend is down at the time the trade was taken..

      Delete
    3. nifty for breadMay 19, 2015 at 5:12 PM

      Thanks a lot, Jagadeesh.

      Delete

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