A new Life, A new Career, A new Dream - I am a Trader

[Gaur_Krishna]

Excellent Check List Dan Bro ....
We all should be ready with all this before 9.15 am

Thanks :thumb:

Regards,
Gaur_Krishna

@Taiki

Are you ready for tomorrow?

YES, YES, YES I AM. :clap:

My strategy plan is done
My ranges are defined in any time frame.
My entries are clear.
My stop losses are clear.
My worst case stop losses are clear.
My trading stop losses are clear.
My exits are clear.

But I do not know where markets open tomorrow.

NO PROBLEM.

Just adjust your targets and stop losses according to the opening and what market is doing. I am clear that sounds easy. But that is the business.

Now lets fight's and forget what happen last week.

DanPickUp

Just tried to motivate you.

 

[jain.er]

Taiki bhai aaj ki trading kaisee rahee ?

 

[Taiki]

Taiki bhai aaj ki trading kaisee rahee ?

Bro, I could not trade today for some personal task came out just before market opening and all day I was absent from my home and terminal

Will resume trading from today

Regards
Taiki

 

[Taiki]

Trade Setup for 27 AUg 2013

30 Min Chart

On upside S/R lines are at 5520, 5600
On downside S/R lines are at 5450, 5410, 5350

3 min Chart

Yesterday though price opened with a gap up but failed to sustain at higher levels and selling pressures were coming in every time price was going above 5500.
Range = Sideways in 5450 - 5520
Though bulls and bears had equal strength, momentum was more in bears and price was accelerating more to downside.

Global Index Update
US market closed red, UK markets are mixed, Asian markets are all red except HangSeng. SGX Nifty is down 0.5% indicating a negative opening of indian market

Trade Area
1. BPB/BOF at 5450
2. BPB/BOF at 5410
3. BPB/BOF at 5350

Regards
Taiki

 

[shashank yadav]

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[avny]

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@ shashank, r u using nifty spot data ?

 

[whisky]

Welcome back Taiki Sir.

 

[Taiki]

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Shashank, will post to your queries in the evening.

Regards
Taiki

 

[Taiki]

EOD Summary

A good day, recovered my last week's loss completely. Did just one short trade at 5396, and exited at 5340. The exit was not as per the system and was early. Price fell more after that and made a low around 5260. But atleast I am glad for recovering last week's loss.

Net gain for the day = +56 points

Will not trade for coming two days, and will resume since friday i:e the September series. Closing this month in green after first two months of breakeven result. My 1st month of profit, net gain for the day is almost 5%. Though not a big money, but big enough to boost my confidence :clap:

@Shashank,

Brother you need to first decide the trading framework, If you are trying to follow the same setups that I am describing here, then here my trading frame is 3 min chart. All the trades, entry, exit are based on the 3 min chart. 1 min chart is for finetuning the entry and SL levels as it gives a better anatomy of 3 min chart.

So here are the steps -

- We have marked the S/R lines from 30 min chart.
- Our trading instrument is Nifty FUT, so we will follow the same chart, We are not going to see Nifty spot chart and make decision for trading NF based on that.
- NF opened with a gap down and crossed the S/R lines at 5410. Made a low at 5382 at the 3rd candle in 3min chart.
- SO far no need to see 1 min chart as our trade are is not yet defined.
- We are trying to trade against the weakness. So we will wait for price to trace back a little and show some weakness in bounce. Once weakness in observed we should be ready for trading against the weakness.
- Eventually price retraced back to 5406 (near 5410 - S/R lines) but failed to move higher. Check the two candle's pattern in the red circle marked in my chart. A clear case of weakness in bulls.
- But again we are not entering right away at the sight of the weakness. Here since price is in my trade area I will switch to 1 min chart for better view.
- Now check the 1 min chart how price has formed a range in 5396 - 5406.
- Then I placed my short order below 5396, with SL at 5406.

So we are not trading 1 min chart, we are trading 3 min chart with the help of 1 min chart. Hope this is clear now. Let me know if anything else you wish to know.

Regards
Taiki

 

[Taiki]

Trade Setup for 28 aug 2013

30 Min chart

On upside S/R lines are at 5300, 5350, 5420
On downside S/R lines are at 5250, 5200, 5150-5160

3 Min chart

Trading Frame

Nifty was in continuous down trend yesterday, Bearish momentum was very strong and dragged Nifty to 5250 level. Acceleration was in downside and projection was bearish

Global Index
US and UK market closed in deep red overnight. All the Asian markets are in ngative too with SGX Nifty trading at 5238, down by 1.3%. So we will see a negative opening in Nifty too

Trade Area
1. BOF/BPB at 5250
2. BOF/BPB at 5200
3. BOF/BPB at 5150-5160
4. BOF/BPB at 5300

Regards
Taiki