Tuesday, 10 June 2014

10062014


Nifty opened above PDC.  Initial move was down.
1) BPB of PDL.  Target was BRN but waited to see if BRN breaks or not.  Covered it above MC. Profit of 13 points.
2)  BOF of BRN on PP.  Ignored the PDL as I expected lot of SL covering above consolidation high. Covered when it failed to move above RN.  Profit of 27 points.
Missed the last up move as I was not confident to enter.

9 comments:

  1. Sir,

    Good trades. While placing the order, how many points you add to the price of MT4 chart price?

    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      While placing order I have to see the price on my broker terminal. MT4 is only for charting purpose and getting the trading signals.

      UR Dave

      Delete
    2. Sir,
      Thanks for the guidance.
      S.Karthikeyan

      Delete
  2. Hi UR Dave,

    Is there any reason for not to initiate a long at a place where your first exit point?

    ReplyDelete
    Replies
    1. NPA Trader

      I give some time before initiating another trade. I do not immediately take the trade again. It is always better to clear out the mind and start thinking fresh.

      UR Dave

      Delete
  3. Hi UR Dave,
    I am regular reader of your blog and ST, Can you assist me how to simulate the trade by bar replay and how to feed nifty data, Like wise you mentioned a post for GCI MT4. It would be great help.

    Thanks
    Arun

    ReplyDelete
    Replies
    1. Arunkumar

      Thanks. I will try to do that. In the meanwhile, you can try "Strategy Tester." It is the only way to do bar replay in MT4. Strategy Tester works for 3-min Nifty chart also. You just need to select the Nifty in that. You do not require any data feed. I have practiced a lot on 3-min charts using Strategy Tester. You try it and let me know if you have any problems.

      UR Dave

      Delete
  4. Hai
    I cannot convert time into 3min

    ReplyDelete
    Replies
    1. Abi

      Please follow all the steps as mentioned in the post regarding MT4. Reinstall it to do that if required. If still any problem, let me know.

      UR Dave

      Delete