Disclaimer


The author is a SEBI Registered Research Analyst (INH000004796) and a NISM certificate holder in Equity Derivatives Market. The certification is provided by National Institute of Securities Markets.

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Wednesday, July 30, 2014

NF & TS


BPB PDC short. TP as price reversed from strong Flip.
BOF LOD long. TP at EOD



Monday, July 28, 2014

NF


Took BPB PDC/IRL short.
Trailed around PDL with the help of Lower tops.
TP on double bottom formation around LOD.
No other trades.

Sunday, July 27, 2014

A Positional System


I was always of the opinion that a trader should have atleast one method each for Intraday and Positional. One might have more than one method also. The trader uses which system depends on his comfort level with the system vis-a-vis risk. With ST's method, the issue of daytrading is solved. This method works wonderfully on liquid instruments. I have been searching for a while for a Positional method. I did not want the method to be based purely on indicators. I wanted that the Positional method should also depend on the reality of the market and not on some indicators. One method is mixing an indicator with price action. For ex: Divergence of MACD/RSI along with Price action. So in this system the Positional trades would be taken only if there a Divergence.
The other method was pure Price Action where the use of Pivots is instrumental. I came across this method while searching on the net in a icharts forum( Mr. Pateek Singh of Marktscientist.in had told me about this in a conversation). The article was composed by a user 'Saint' (Frequent forum visitors might be aware of it). In fact this method uses a mix of Pivot and BOFs. A PDF of the working is available on the link. Click Here.
(On the page ,scroll down for a 'Download link')

Anyone one interested in using this method can use it as it is or with some tweaks so as to suit their personality/Risk Capacity. The chart posted is old(when Nifty was at 4000-4700 levels) but the principles remain same. The example explained is on a 60 min chart. Again the time frame can be tweaked as per the requirement.

I sincerely  thank 'Saint', Marketscientist.in for the article. 

Friday, July 25, 2014

NF & TS


Arrived late for trading. By that time NF already broke 7800, which I expected.
BOF BRN. TP at PDL
BOF PDL. TP at range low 7790
No other trade


BOF MSP short. TP as indicated.
Short again as price tested MSP. TP on double bottom formation.
No other trades

Thursday, July 24, 2014

NF & TS


Did not get proper entry for the initial BOF IRH. Skipped it.
BOF BRN. TP at IRH.
BOF PDC abobe BRN. Price was formong higher lows , so neglected PDH for entry. TP at EOD.



Do zoom out your respective charts and have a look as to what happened at PDH and HOD on 5 min

Tuesday, July 22, 2014

NF & TS 22/7/14


Arrived late for trading. Was at the terminal at around 12 PM. Took BPB range low as first trade. TP at pin bar formation. Pin bar formation was around IRH. Went long after TST IRH and a higher low formation. Used options for this long. Bought at 75. TP at 96.


Short as BPB PDC. TP at 4 points. Long as BOF LOD, pin bar acted as confirmation. TP again at 4 points.

Monday, July 21, 2014

NF 21/7/14


Did not find enough space to take any trade.Although was of the opinion that NF would fill the morning gap.

Friday, July 18, 2014

NF 18/7/2014



Nifty gaped down.
Short as BPB PDL. TP at BRN
Long as BOF BRN.TP at IRH
Again Long as BPB IRH. TP at PDH
FTC short. TP after rejection candle.(Trade almost touched IRH)
Did not take BOF PDC and FTC short at HOD

Wednesday, July 16, 2014

NF 16/7/14


Nifty gaped up but again could not sustain at higher levels. Shorted when second push to cross IRH failed.
TP at rejection candles near PDC. Went long on BOF PDH. TP at IRH . There was a TRAP, used it to go long as a limit order 2 points away from IRH. TP at RN 7650.

Tuesday, July 15, 2014

EUR/USD: Super Move


NF 15/7/14


Nifty Gaped up and soon found it difficult to move past IRH. Two opportunities to short. BOF IRH and BPB IRH. Shorted as BOF IRH. If price does not perform one action twice or more, it usually does the opposite. Same happened. TP at PDC. Went long as BOF PDC. TP at PDH. Was thinking of BOF BRN there but the single black stopped me. Took direct BO long (as Nifty formed Double bottom at LOD and subsequently a higher bottom). TP at HOD.

Monday, July 14, 2014

NF 14/7/14


Took LOL BOF long. TP at IRH. Took only BOF BRN at the fag end as was not in front of screen till then. TP at 20 points

Friday, July 11, 2014

NF 11/7/14


Did not have sufficient balance in trading account to trade TS as had to withdraw some amount. Traded NF.
After the initial spurt NF fell back between IRL and BRN 7600. Went short as BOF BRN. Trailed and TP at PDL. Again shorted as BPB PDC. TP again at PDL. No other trades.

Thursday, July 10, 2014

EUR/USD


               Did not trade but both the BOFs worked very well!!!

No trades





Did not take any trade in the second half too as was held up with personal work.
But found time to set up 3 min charts using MT4. I was trying for it for some time.
I thank URD for it.

Wednesday, July 09, 2014

TS 9/7/14


                 No other trades after TP as was held up with other work.

Tuesday, July 08, 2014

TS 8/7/14


Did not trade today as was held up with other work. Too big a fall to miss!!

Monday, July 07, 2014

TS 7/7/14


                 Sold with the help of a limit order at IRL. Covered as indicated.

Friday, July 04, 2014

TS & Nifty 4/7/14


Did not get proper entry for Tata steel till noon. Shorted as BPB PDL. TP after the pin bar formation.


Took BOF BRN long. TP at day end. With US markets shut today, I was expecting such a move.

Wednesday, July 02, 2014

TS 2/7/14


Took direct BO trade below PDH, was a wrong decision. SL hit at IRL. Went short as BOF IRL. TP when price was getting rejected from PDC. No other trades.