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Monday, March 2, 2015

2/3/2015, MONDAY




1) Skipped IRH BOF Short, as it was CT Trade. 

2)Skipped IRL BPB Short, as it was CT. Wanted the MSP of the last impulse of previous day to be broken to short, but that didn’t happen.

3)Looked like PP set up. Space with BRN was hardly 10 points. Took this low probability trade. Got only 3 points.

4)8967 looked like probable RL. Wanted the price to test it once more to confirm that it is RL. But price shot up without giving another chance.

5) In hindsight price has been moving in a channel from 12.00 Noon onwards. Was not easy to spot high probability trades today. 

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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4 comments:

  1. augubhaiMarch 2, 2015 at 5:57 PM

    Hi Karthikeyan,

    Any reason why you avoided the BOF of 8950/Spot 8900 after 12:00 PM? The DP support held multiple times.

    Regards,
    Augubhai

    ReplyDelete
    Replies
    1. nifty for breadMarch 2, 2015 at 7:39 PM

      Hi Augu Bhai,

      I placed an order above 12.00 Noon candle high. Was expecting the price to move up from 8950 and fill my order. But price came near my order and again moved down to test RN. Thought that the price is hovering above RN for unusually long time and that order flow of sellers is slightly stronger and cancelled the order. Something is obviously wrong with my thought process.

      Can you please say a few words about your thought process while taking that trade?

      Thanks
      S.Karthikeyan

      Delete
  2. augubhaiMarch 2, 2015 at 8:29 PM

    Hi Karthikeyan,

    I am trading a different system nowadays. So, I did not take that trade, since I did not get a signal in my current system.

    If I was trading DP's, I would have probably taken the trade, probably above the 12:18 pivot. Would have been a scratch, in any case.

    Regards,
    Augubhai

    ReplyDelete
    Replies
    1. nifty for breadMarch 2, 2015 at 9:07 PM

      Hi Augu Bhai,

      Thanks a lot for your reply.

      S.Karthikeyan

      Delete

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