Didn’t trade upto 12.00 Noon.
1) Longed at BOF LOD. Got 13 points.
That was the only trade of the day.
Disclay muchimer: 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.
Why did you not take long on BO of internal range at 13:50
ReplyDeleteI think you mean short (not long) below the then Range Low. Yesterday being a big down move day, today, I expected a Range day. As you know, BOF trades at both ends work well on Range days. So, I was waiting for the price to come inside the Range.
DeleteThe trade is good SK. But taking direct BO trades against trend sometime causes a disaster. I guess, the strength in the move might have forced you to take that trade.
ReplyDeleteAs you have taught, the best option would be to wait till we see weakness of bears, after seeing the strength of bulls. As rightly guessed by you, I was seduced by the strength of up move from below the then Range Low.
DeleteI thought that today being a Range day, I can take little risk.
In the morning session, when PDL BOF took place, price went up too quickly, as soon as it came abv PDL, before one could see clear weakness of bears. So, I thought that price may move well, once it reaches that zone.
All said and done, I understand that I am bit lucky today.
Thanks for the informative comment.