Friday, 31 July 2015

31072015


Today I could trade so thought about posting the chart.  Nifty in the morning traded in the range after breaking PDH BRN.  There was a BOF of DO but hesitated to go long because of PDH above.  Waited for one of the range extremes to test.  Then it broke the range high.  Again avoided going long on BPB of HOD then as I felt risk was too much.  Waited for it to consolidate.  As expected it consolidated in the noon.  As soon as I came back from the lunch around 1 p.m. it seemed like it was not able to break the consolidation low.  Went long here at 8535.  It moved well.  Covered it at 8570.  Later there was a TRAP pattern.  I wanted to go long around 8550.  Trade did not trigger.  Missed the last move up.

Friday, 17 July 2015

17072015


Took one trade today. Shorted on BPB of PDH/PDC.  Looking at the momentum thought it would break the low of last impulse.  The momentum fooled me and had to scratch the trade. Later waited to go long at the LOD but it refused to come there and traded in the range above it.  Missed it.

Friday, 3 July 2015

Thursday, 2 July 2015

Daily Routine


Speak these words in your mind after you wake up and before you go to sleep.

"I am a successful confident trader that will wait for the opportunities to come to me patiently.  I let price action determine what to do and I am humble to the market.  I learn from my mistakes.  My goal is to obtain consistent profits at every opportunity.  I will do whatever it requires to achieve my goal.  My dream is one step away."

Believe me, this exercise will put you one step forward towards achieving trading success.



02072015



Today Nifty traded in a range whole day, roughly 8430 to 8475.  Missed going long in the morning when it seemed to take support at the yesterday's last impulse.  Again missed the short at BOF of Range High as I was away.  Finally took a long at BOF of Range Low. Entered on pullback and booked it at PDC.