Blog by a trader who trades for living.

This blog is all about day trading Nifty Future, Nifty Options, MCX Crude Oil and Emini with Price Action and Decision Points. First time visitors are requested to go through the section "Free Education" above to understand the trading system and blog posts better.

Nifty Options

Advantages of day trading Nifty Options.

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MCX Crude Oil

All basic information about day trading MCX Crude Oil.

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All basic information about trading Emini SP 500.

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Wednesday, 26 October 2016

Nifty Future 26102016

It opened full gap down.  Thought the momentum will continue looking at the setup and took a BPB trade which did not work.  After that it started consolidating and took a BOF of RN/Range High.  Waited for some time and finally it ended up as a scratch.  Towards the fag end, it gave a BPB short setup which yielded some as prices could reach BRN at least.


Tuesday, 25 October 2016

Nifty Future 25102016

It opened gap down and sold off in a straight line without giving any setup to short.  Then consolidated and gave a good Pressure play setup.  Could not take direct BO and took it as BPB which yielded some.  After that it started chopping around BRN and PDL.

Monday, 24 October 2016

Nifty Future 24102016

It opened full gap up and took support at multiple DPs like PDH/PDC/BRN.  Traded in a tight barbed wire range.  Waited for the prices to come out of this tight range.  Took BPB of HOD which ended as a scratch.  Took a short trade below 8725 which was acting a range low which also ended as a scratch.

Friday, 21 October 2016

Nifty Future 21102016

It opened at BRN and started moving down.  BPB of PDL was not a good setup to take the trade as the prices spent lot of time inside the master candle.  Then it traded in the range and gave a good Pressure Play kind of setup to go long above PDL which did not work and ended as a scratch.  The late up move did not allow a proper entry.

Wednesday, 19 October 2016

Nifty Future 19102016

In morning it was expected to remain rangebound with bullish bias and hence took first direct BO above narrow consolidation which did not work.  After that BPB trade of Range Low which also failed.  Later there was a good BOF of DO/HOD/PDH but could not take it as found no suitable entry point.

Friday, 14 October 2016

Nifty Future 14102016

Today expected it to remain rangebound and attempted a TST trade at BRN in the morning which moved well.  In afternoon attempted LOL BOF of Range High & BRN which reversed quickly without testing the lows.

It was the second day of live mentoring and I am happy that I could help a trader earn 30 plus option points. Lot of interaction takes place every day right from start of the day till EOD discussing when to trade, when not, what to look for, where to hide SL, where to exit.  What is a good setup and what is a mediocre kind.  For example, the BOF setup at around 1 pm was skipped and it was discussed live why it was necessary to skip that setup.

It is kind of an unique experience for me, but it demands lot of focus and dedication, so I am not too keen to continue mentoring during market hours beyond December 2016.  I wish more and more traders take advantage of this and benefit from it.

Thursday, 13 October 2016

Nifty Future 13102016

Anticipated trend day in morning and it turned to be the same.  Took a short trade on pullback itself without waiting for confirmation.  Later there was a good TRAP pattern which did not work.

Started today live mentoring with two passionate traders and it was a good beginning as one of them was able to make 60+ points today. 

Wednesday, 12 October 2016

Are you serious about trading?

If you want to find out the answer, have a look at this slide show.  Press Ctrl+F5 to view it in a presentable form.


Tuesday, 11 October 2016

Live Mentoring

Happy Dussehra to all of you.

On this auspicious day it gives me immense pleasure to share with all of you a success of a trader.  He approached me few months back expressing his desire to learn day trading.  He sounded very serious about taking the trading as a business and making it a source of living.  He subscribed to the video tutorial and spent a good amount of time understanding and grasping the concepts discussed in the tutorial.  He later even requested me to spend time with him throughout the trading day to help understand the trade execution and trade management under the emotions of risk of real money.  I decided to help him and we interacted during market hours and remained in constant touch for month after another.  This whole exercise proved to be a great asset to him in learning and applying the concepts to the live markets. He even went on to share with me his financial ledger report for the month of September 2016 with the precondition that I will not share his personal details and keep it anonymous. So here I am sharing the same with all of you, hiding only the personal details.  Remember, it is not just few trades that are shared but a ledger for whole month.  In very rare case traders share their financial ledger like this revealing everything.
Instructions:  Click on the image to open it in new window for enlarged view.

He traded with only 1 Nifty option lot throughout the month and as you can see, he came out as a winner at the end of month.  He started the month with minus 3099 and ended the month with plus 920, so making the profit of Rs. 4019 per 1 Nifty option lot in a month.

By any standard, this is a great achievement.  This is great because only 3% of the traders who attempt trading eventually make money and very few of these 3% are able to make huge money like this.  Rs. 4019 is really very huge when we consider the capital required to trade one lot of Nifty option and its profit making capacity.  It comes to around 20% of return on capital per month.  With this kind of return one can just double the capital in 5 months, and furthermore this is just the start. Once you are in a habit of making money consistently, only sky is the limit for you, and I am sure with the kind of efforts and number of years (almost 10 years) that he has put in to achieve this success, he will not only be able to maintain this success but reach new highs in the future. I wish him all the luck.

If you want to take the day trading as a source of living and you are really very serious about it and ready to do everything possible to achieve success here, you can find me with you.  If you are an existing subscriber of my video tutorial or took a part in mentoring program in the past, and you want to spend time with me during live market hours, I am ready to help you out.

We will start the day at 9 am and look at the Big picture to try to assess the direction and nature of market and how we can position ourselves during the day.  As the day progresses, we will keep on reading the price action and looking for potential trade setups.  Once the setup emerges, we will weigh the options of whether to take the trade or not take the trade.  If the trade is taken, we will try to manage it the best way possible.  Nifty futures and options will be the preferred instrument to trade. This process will be repeated every trading day between 9 am and 3 pm.  Google Hangout messenger will be used for the interaction.

The Live Mentoring during the day like this, I am sure, will help you read the price action under the influence of emotions from different angles, look at the chart like a trader and not as a gambler, and remain focused throughout the day, which are very much essential in this profession.  Spending a few months worth of time like this will cultivate the mind of a trader and help you save at least 2 to 4 years of screen time and lots of emotional and financial capital.

This Live Mentoring program is going to be done in the 2 to 3 months long batches. The first batch will commence from 13th October, 2016 and will end on 31st December, 2016.  The participation in the first batch till 31st December, 2016 will cost you around 300 Nifty points.

Take the decision of killing a "loser" demon in you this Dussehra.  You can drop me a mail to  for any queries and payment options.


Saturday, 8 October 2016

First Step

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If you are planning to day trade for living, this post might interest you.  Here I share my personal experience focusing on how the average person, with extensive or very little trading experience, can enter into the arena of day trading and creating wealth with some preparation.

Some time back when I decided to day trade for living as a business, I felt I needed to do some preparation in order to ensure my smooth transition from a fixed monthly salary job to a volatile kind of earning through the day trading.  Due to the volatile nature of monthly earning in the trading profession, first challenge in front of me was to generate some sort of income through other sources so that I do not need to depend solely upon the trading for living.  I thought this other income was very much required because it would not only take care of my day-to-day needs but also it would give me mental peace and I would be more relaxed and not under undue pressure to treat the trading as the only source of income. If you are thinking about taking up day trading for living, I would suggest you to do some preparation like this, so that you can plan it out the better way.

My first priority was to become debt free by paying out my loans which I did.  After getting rid of loans and other liabilities, this is how I explored different options to generate some passive monthly income of around Rs. 25,000 which I thought would take care of routine expenses like grocery, utility bills, school fees for my kids. etc.

Interest income:
I had some funds that I saved over the years, mainly through PF, FDs and shares.  I decided not to utilize all the funds for the trading and instead put it into fixed deposit and good liquid funds to generate around 8 to 9% of yearly risk free interest income.  The amount of Rs. 10 lakhs was enough to generate monthly interest income of around Rs. 7000.

Sovereign Gold Bonds.  I went ahead and converted the physical gold of roughly Rs. 5 lakhs into the sovereign gold bonds to generate 2.5% of yearly interest income. This guaranteed me monthly income of around Rs. 1000.

Rental income:
I also had an option of renting out a small old property after doing some repairing work which I decided to do.  It helped me generate a monthly rental income of Rs. 5000.

Income through parttime work:
Since it was possible for me to work online at my free time from home, I decided to continue to do it for around 3 hours a day.  After all this is what I did and worked for 15 years. I only required to spare 3 hours post market close.  In addition to that I also involved myself in coaching and mentoring to help come up aspiring traders in a professional way utilizing my free time on weekends.  Working parttime like this helped me generate an average income of around Rs. 12000 per month.

So everything was there, available for me.  What I had to do was just plan it out properly to generate a continuous source of monthly income to keep me going in this highly uncertain day trading profession.  Every profession requires time and experience to get settled and day trading profession is no different.  There will be initial hiccups and initial struggling phase when starting out trading as a profession and hence it becomes pretty much mandatory to be ready with some other options.  I kept on telling myself everyday that even if I could not earn a penny from the trading, I would be able to sustain and hang on to it with the help of passive income.  This passive income was also very much necessary as I was the only earner in my small family.

Some ideas:
If you are planning on entering into the day trading profession as a source of living, I would suggest you to do some well thought-out preparation like this. I am sure you will have some options like this or something different which will work out for you for sure.  If you are living in a metro city like Bangalore, Mumbai or Delhi where standard of living is high, you may think about shifting to a much smaller town.  It will help you cut your expenses to a great extent.  You may have some piece of land in a village, which you can think about selling out to generate some funds for the interest income. You may be good at, for example, music or dance or writing or some kind of sports and you can involve yourself in coaching as a part time profession to generate some passive income.  You can even utilize your marketing or consulting skills for that purpose.  There are lots and lots of options. You just need to sit and assess your strength and weakness.  Once you do that, you will automatically find a way to better utilize your capabilities and resources, and you will be ready to take your first step into day trading as a business.


Monday, 3 October 2016

Nifty Future 03102016

It opened full gap up and gave first setup in form of  BPB of PDH with the entry above BRN.  Then it consolidated and gave another setup at Range Low/NS BRN.  This setup makes the sense only if by this time you are sure about the type 1 trend day.  It moved indeed in type 1 trend day for the rest of day and proved to be a good setup to initiate trade there.

If you are a subscriber of the video tutorial, market gave you enough clues in the morning itself for type 1 trend day kind of a day.