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

[Neo_trader]

Hi Taiki, Nice journal and great trades :thumb:
Where can i find the details of your setup BOF/BPB. Thanks.

 

[Taiki]

I dont think I have mentioned about them earlier in my thread, It is nothing but when price is crossing my S/R lines, either it will be a successful breakout or breakout will fail.

In case of breakout I am not entering in the trade right away as I always try to trade against the weakness, when price breaks there is only strength. So basically we have to wait for a minor pullback, once weakness in pullback is seen higher probability is there for price resuming in the direction of breakout. This is Breakout Pullback setup (BPB)

If the pullback doesnot show any weakness and price starts rejecting the breakout levels then higher probability is that breakout will fail and price will reverse. Here weakness is there in the direction of breakout and we have to trade against it. This is Breakout failure setup (BOF)

Will post some example with charts in evening

Regards
Taiki

 

[Taiki]

EOD Summary


Will not trade for coming two days, and will resume since friday i:e the September series.

Regards
Taiki

Luckily got in touch with one trader friend in my town. Hoping for good learning and discussion for next two days. Will resume trading after expiry

Regards
Taiki

 

[Bewinner]

Good to hear that Taiki...u started making profits...wishing u all the success ahead.

 

[Mr.Perfect]

Luckily got in touch with one trader friend in my town. Hoping for good learning and discussion for next two days. Will resume trading after expiry

Regards
Taiki

Hi Taiki, hope you are enjoying holidays, however you are taking too many leaves, as you are still in probation, your leave balance is less than zero, so no more leaves in this FY..

 

[sachin928111]

taiki if u have tested ur system if it is profitable then y avoiding oppurtunities? it shows that u need to work on ur system:thumb:

 

[Taiki]

Hi Taiki, hope you are enjoying holidays, however you are taking too many leaves, as you are still in probation, your leave balance is less than zero, so no more leaves in this FY..

Okay boss, As you wish.. No more leaves

Regards
Taiki

 

[Taiki]

taiki if u have tested ur system if it is profitable then y avoiding oppurtunities? it shows that u need to work on ur system:thumb:

I need to work on my emotion more

Regards
Taiki

 

[Taiki]

Trade Setup for 30 Aug 2013

30m Chart

On upside S/R lines are at 5420, 5450, 5520
On downside S/R lines are at 5350-5360, 5300, 5250-5230

3 Min Chart

Yesterday price was in an uptrend making higher high and higher low. Momentum was bullish and price was continuously accelerating upwards. 5420 may act as intermediate resistance above which we may see more upper levels

Global Index Update
US and EU markets closed in green yesterday. Asian markets are mixed while SGX Nifty is trading down by 0.03%. So Nifty may open flat today

Trade Area
1. BPB/BOF at 5420
2. BPB/BOF at 5450
3. BPB/BOF/TST at 5350
4. BPB/BOF/TST at 5520

Regards
Taiki

 

[shashank yadav]

taiki sir my sl again hit 5 times near 5420