Thursday, 10 July 2014

12 comments:

  1. Nice trade sir,

    What was your initial stop loss for your trade?

    ReplyDelete
    Replies
    1. Anon

      Thanks. Entry was at 7697 and SL was 7712, high of bar next to trigger bar.

      URD

      Delete
  2. UR Dave Sir,

    I also took this trade, but stopped out above BRN... what was your initial SL for this trade?

    ReplyDelete
    Replies
    1. Rose

      Better luck next time. Need to give some room especially on big wide range days. Entry was at 7697 and SL was 7712, high of bar next to trigger bar.

      URD

      URD

      Delete
  3. Hi URD, Apart from other trades, I did enter at FTC - 7714 (filled at 7712). My initial SL was at 7722, but when NF broke 7700, then I moved SL to 7712 to breakeven. it got hit exactly at 7712 and NF went down. Then I entered again at 7694 (filled at 7692). This 3tf candle made low of 7682, then next 3tf candle started going down but reversed from 7682 levels towards 7700. I then brought my SL to 7794 (again breakeven) and it got filled at 7695.8. After that, I was position less and kept watching market going down and down.... Can you please let me know your SL movement and at what point you moved SL?

    ReplyDelete
    Replies
    1. Vikram

      You need to allow first pullback after your entry. This is what I do. My initial SL was at 7712 and I modified it to breakeven once it broke PDH on downside. Then kept trailing it.

      URD

      Delete
  4. Hi URD
    Nice trade.
    I was held up with personal work so was not able to take any trade in second half too.
    Finally I set up 3 min chart using MT4. Screenshot on my blog.
    Thank you very much

    TBP

    ReplyDelete
    Replies
    1. TBP

      It is my pleasure. For MT4 be cautious of data slippage and chart not getting updated. Sometimes it happens, but very rare. Otherwise it is a fantastic trading software, very light, no headache of data feed.

      URD

      Delete
  5. Hi Dave Sir,

    I was curiously watching the price movement of nifty when on budget and after that. My thought
    was price went more than 150 points up initially hence i thought it should continue to go up till end of session, but it was wrong.
    you exactly took the short position and caught the full move. what was the thought process and
    why you didnt take the long trade at earlier. it would be helpful for my learning process
    thanks in advance.

    Regards
    Arun

    ReplyDelete
    Replies
    1. Arun

      My past experience of trading on Budget, RBI announcement etc has taught me to avoid trading such announcement days till announcement is over. At such times, technicals do not work.
      After the budget it continued its intra up move. I did not want to get into the running train. So was looking for a good reversal signal which ultimately came. Usually what happens is, once the announcement is over, people who already took the position in anticipation of the news would like to book profit.

      URD

      Delete
  6. Great Trade.. I couldn't trade today also but went thu meta trader with the help of your writeup. Really liking it & will trade tomorrow with it.

    Thanks,
    Deven Malhotra

    ReplyDelete
    Replies
    1. Deven

      Thanks. Good to see you back. Please see my reply to TBP regarding MT4.

      URD

      Delete