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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Emini

All basic information about trading Emini SP 500.

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Friday, 9 December 2016

Nifty Bank Future 09122016















Today I could not find a good setup to trade in Nifty Future.  But as I was observing Nifty Bank, found this wonderful setup to go long as BPB of PDH.  Later it started ranging and gave another opportunity to ride the trend and go long.

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Thursday, 8 December 2016

Tata Steel 08122016















Today I also traded Tata Steel stock.  Took one trade as BPB of PDH which moved very very well.

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Nifty Future 08122016















It opened big gap up and broke out PDH.  Entered long on BPB setup with the anticipation of today being type 1 trend day which worked well.  It turned out to be the type 1 day and with that confidence attempted a TST long setup at Range low.  It also worked well.  Towards the fag end, attempted a direct BO long which ended as scratch.
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Monday, 5 December 2016

Nifty Future 05122016















It opened just above PDL & BRN and traded in a tight range for a long time.  Attempted a direct BO short below the range low.  It moved some.  Later it could break out above range high and attempted a BPB long trade there which moved very well.  There was no other setup.

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Friday, 2 December 2016

How many Nifty points do I need to make monthly for living?

This is the most frequent and common question that I have been asked whenever I interacted with other aspiring traders.  In fact, frankly speaking, I was also looking for the answer to the same question when I started trading.  There were different answers to it, some said 200 points a month from trading Nifty is considered good for making a living out of it, some said 300 points, and some even said 100 points.  I thought no one exactly knew how much.

Later after some time, I realized it is not necessary to make 100 points or 200 points per month per Nifty lot for living.  I can make a living out of it even with lets say 10 points per lot per month.  Yes, you heard it right.  Let me explain.



Many traders pay so much attention to their long-term objective of becoming a professional, successful trader or expanding their trading account in the fastest possible way.  In that process, they make very little or no effort to figure out how exactly to achieve this in a more realistic way.  I was aware of this, so did not do that mistake.  Now, to achieve the goal of making a living out of trading Nifty, I thought if I set the goal of earning as little as 10 points per month per lot, since it sounds very little, it will be very easy to achieve it successfully and once I achieve it, I will be able to do a lot better and finally will be able to achieve the long term objective of becoming a professional trader.  I started doing some calculations like this,

Net 10 Nifty points per lot per month = Rs. 750 per month on a capital of Rs. 10000.

Then I calculated my yearly earning like this,

Rs. 750 per month x 12 months = Rs. 9000 a year.

This way if I calculate the earning on a capital of 12 lacs, it will be like

Rs. 9000 per year x 120 lots = Rs. 10,80,000 a year or Rs. 90,000 a month or roughly Rs. 1 lac a month.

My eyes popped up when I realized even though I make this tiny profit of Rs. 750 per month per lot, I will be able to double my trading capital almost every one year.  Then I calculated further and got amazed by the results.  It turned out that trading capital of around Rs. 12 lacs will be able to generate a monthly income of Rs. 1 lac if I am able to make as little as 10 points per lot per month. Furthermore, I really don't require this huge capital (not really a huge nowadays) at all for trading.  I will always have an option of using shares, gold, liquid funds etc as a margin for my trading and real requirement for the cash will be very less.

I felt I needed to understand the markets first, get proper knowledge of trading and acquire some experience by simulating trading.  Once I do that and get equipped with all the knowledge, I can start with a very little trading capital of Rs. 10K.  My objective is to only make 10 points per month, month after month consistently.  I know if I am able to do that, within next few years of time I will be able to earn Rs. 1 lacs per month on my own. After that nobody will be able to stop me and only the sky will be the limit for me as a trader.

I decided to act on this.  I made an effort to understand the trading and markets.  The learning phase took lot of time.  It was very difficult to find a trading mentor those days. I had to do lot of trial and error method.  But I did not lose patience.  I kept on working on it until I found this wonderful DP method of trading.  After spending few years on it and finally achieving this goal of earning 10 points per month, I was confident enough to take up the trading as a source of living and I could quit the handsomely paid 9 to 6 kind of a day job.  

Now tell me, isn't it possible to make 10 points per month   You would probably laugh at me and say this is what I can make in one trade alone, actually more than that.  Am I right or wrong?  It is not necessary to trade only Nifty future or options.  You can set your goal the same way and can choose to trade your favorite stock, commodity or currency.  You can even pick the trading system of your liking, be it mechanical, indicator based or any other discretionary system.  You can also choose your number of trading hours. No need to be a full time trader.

Start small and then build up.

Go ahead and start working on achieving this goal. If you are able to earn 10 points per lot per month consistently for 9 consecutive months, you can contact me.  I will feel proud to associate myself with you and if required, help you get more funding for your trading. 

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Nifty Future 02122016















It opened CT full gap and traded in the range for a long time.  Attempted one trade as BPB of Range High which did not work.  No other trades.
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Wednesday, 30 November 2016

Nifty Future 30112016
















It opened at PDC and attempted to break it which failed.  I was thinking about taking a long trade there but it moved quickly and missed it.  In noon time it formed barb wire around BRN and traded in tight range for a long period.  Attempted a short trade on direct BO which refused to move well.
Later tried again direct BO of HOD/range high thinking it will have enough power to break the PDH.  It moved per expectation breaking PDH and moving much higher.

Today, also I am sharing with all of you the reasoning behind taking these trades which I discussed with two other traders during live mentoring session in market hours.  

Trade 1 with the chart and reasons behind the thought process:

Sunil, once we know we are trading the range, we need to find the way to trade that range.
Here you get a chance to buy at probable range low in an up trend.
There will always be two kind of setups.  One which markets offer us and one which we want them to appear on the chart.
Here this is what markets offered us.















Trade 2 with the chart and reasons behind the thought process:

seems to be barb wire around brn

Yes, but for last 20 mins trading below BRN.
and most importantly, at what point you would feel it is moving away from barb wire.
on break of blue dotted line or somewhere else













Trade 3 with the chart and reasons behind the thought process:

Now HOD can preset a good setup there.  BRN is not acting as a DP so we can ignore it.
HOD is acting as a range extreme.
Since trend is up, even a direct BO above this range can be tried.  It should have enough power to break the PDH.  But having said that, good setup is always above PDH.













You are maybe an engineer, IT expert, MBA or a simple graduate or managing your own small business.  You would have spent lot of money and number of years for your education and building up your career., so that you can live rest of your life comfortably.  But have you ever thought,  what amount of time and money you spent for building up day trading as a profession.  Are you putting your efforts in the right direction?   If not then think about it.  If it requires you to take someone's help to put you in right direction, never hesitate.  Go ahead.  Do whatever you can do to shorten your learning curve. and reach your goal  You will never get the second life.

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Tuesday, 29 November 2016

Nifty Future 29112016















It broke out PDH without giving a proper entry and rallied till 8220.  After that started consolidating and attempted a long trade as marked.  It got resisted at HOD and did not yield much.  Later took BPB of BRN/range low which moved well.

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Thursday, 24 November 2016

Nifty Future 24112016















It opened gap down and started trading in the range.  It attempted to break out the range and BRN above but failed.  Attempted a short trade here as BOF of BRN and Range High.  It moved very well. In the afternoon there was a good BOF of PDL and LOD which again moved very well.  At fag end it produced another good move after BOF of BRN.

Today the DP trading system was at its best producing good results at extremes.  Are you benefiting from it or still not able to catch these wonderful moves?  Please share.

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Monday, 21 November 2016

Nifty Future 21112016

















It opened at BRN and broke down PDL within few minutes and presented a nice BPB setup to go short which worked very very well.  Later it spent some time in a range and attempted direct BO below the range which moved in favor some and then retraced back into the range.

Last weekend uploaded a fresh new website dptradingsystem.com.  Please have a look and give your valuable feedback.

Also checkout this promotional video on DP Trading System and the video tutorial.  Go ahead and share it with your friends and other traders as much as possible.  If you still have not subscribed to the video tutorial, what is stopping you to do that.  Thanks.



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Friday, 18 November 2016

Nifty Future 18112016
















It opened within previous day's range and gave BOF of PDL without any entry pattern.  With that BOF in mind, expected range BO on other side and hence attempted direct BO of PDC/BRN which ended as scratch.  Then it broke out successfully but did not offer good R:R and hence avoided.  Later it came back into the earlier range and attempted short trade as marked which worked well.
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