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Friday, June 5, 2015

05/05/2015 CO Book trading




1) Shorted S/R line BPB. Got 23 pts.

2) CPB Long. Exit at the edge of the Rangeboundary. Got 27 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. UnknownJune 5, 2015 at 9:25 PM

    Nice trades Sk. But the first one is not in LWP..

    ReplyDelete
  2. nifty for breadJune 5, 2015 at 10:10 PM

    Yes. Limit order kept in yellow zone was not triggered. Rejection was too quick. May be I must have looked at the 1 min chart and entered below 3696, the bear candle low. Is there any other way for an entry in LWP area in the given conditions? Thanks.

    ReplyDelete
    Replies
    1. UnknownJune 6, 2015 at 7:21 AM

      Everything makes sense in hindsight, you must consider the minimum risk to reward before giving the entry. Plan to enter in the wholesale zone and take partial profits at the location where retail traders enter. Entering in the retail zone doesn't give enough room to scratch if the trade goes wrong. Skip the trade if you don't get an entry in LWP.
      Regarding the trade, it cannot be entered with BO order as the risk to reward is not appealing. As the s/r is in between the zone and market price, give importance to s/r and read the interaction of price with it, find the weakness and fade it. Price got immediately rejected after breaking the s/r after a big fall in LTF and that is good enough to enter short.True that it didn't give much time to make a decision,but that is how it happens in crude. Setups are very quick and we will end up in chasing prices which results in losses. Good trades are not easy to catch in crude oil as they disappear with rocket speed. There are very few trades you can enter with BO entry technique in crude as prices will get strongly rejected from good setup areas which results in high range setup candles which in turn increases the initial risk.. Work on limit order entries for crude, otherwise you will end up with chasing price..

      Delete
    2. nifty for breadJune 6, 2015 at 7:38 AM

      Thanks Jagadeesh for the detailed reply.

      S.Karthikeyan

      Delete
  3. AnonymousJune 6, 2015 at 9:28 PM

    Sir,

    Verygood trades. are you doing real trading or paper trading.

    Thanks,
    Virat

    ReplyDelete
    Replies
    1. nifty for breadJune 7, 2015 at 4:31 PM

      I am doing paper trading in crude oil. Real trading only in Nifty.

      Thanks.

      Delete

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