28/11/2014,FRIDAY

Big outside Gap up with trend.

1) Went long on seeing PP set up. Did not move well.  Gave 1 point.

2) Thought of going short towards EOD. T hen decided against it.

Price was moving in a channel for a major part of the day.

10/06/2014, TUESDAY

1) Sold off in the initial few minutes. Placed an order below PDL and cencelled it, due to confusion on difference of price between MT4 and NSE. Missed an important signal.

2) Didn't take the PP, as PDL was closely located. Should have taken it as the space was around 10 points.

3) Went Long on BPB of PDL. Stopped out with 7.5 points loss.

4) Went Long on what I thought as TRAP. Lost 2.5 points.

14/03/2014, Friday

Week ended very very badly.

1)  Gapped down, pulled back upto BRN before falling further. IRL was wrongly marked and hence could take up the BO bit late. Scratched this trade. Nothing wrong this trade. 

2) But wrong marking of  RN – Spot, which was closely located, as IRL did its share of damage.  This led me into believing the pinbars forming a consolidation range just below the real IRL as MSP and TRAP and PP. Stopped out.

Should learn to look and mark only those levels, respected by Market.

3) Missed a real BOF. Thought that the spike is due to the announcement of WPI inflation data.

4) Thought that Cigaratte is exploding and went for a direct BO before the Range Low and was stopped out.

5) BOF  of RH failed to break the RL, giving first indication that the buyers are really strong.. What follwed was a BOF at RL. Should have taken it, but didn’t.

6) BOF at RL was followed by a candle pattern, which looked very much like a BOF of RH. Was not aware that one should expect BO of RH after a BOF at RL. Shorted at RH and was stopped out. Those, who had gone Long, minted money.

7) Was aware that there is no real critical mass, more so after the fall in the morning. But was still looking to only short, same like last week. When there is no critical mass, Friday closing session also needs to be treated as any other day’s.       

After succeeding in not doing what should not be done in the last few days, tried to do what needs to be done. Doing so, I came to understand my ignorance about DP,  judging the strength of  a move and what to expect after a BOF.  Learnt a few valuable lessons, paying the price. 

COMING WEEK IS ANOTHER WEEK.

11/03/14, TUESDAY

 

Didn’t make profit, but can be satisfied with my trading, reason being, I took only those trades, taken by Pros, not to mention,  today is a very tough day with price moving everywhere at will.

Price rose to just below PDH and fell below PDC. BOF noticed at RN. Expected PDC to act as Flipzone and restrict further upmove. Not to be. Making a LH near DH, price fell fast, giving no chance to enter. Now it looked like a big channel.

Expected the price to consolidate after such volatile moves. Didn’t take BOF at RN as price was still in a channel and the space was too less.

1)      Took BOF of RL. Made just good enough for Broker. RN was standing in the way like an iron curtain. It was PP and expected this to move well. Not to be.                                                                                                                                                               

2)      Took BOF of BRN Spot. This trade moved a little bit, after I had scratched.

Focus hard and maintain discipline on a consistent basis. YOU ARE/WILL BE A PRO TRADER.