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

[timepass]

Gold imports for August 1-29 were at 3.xx tons versus 47.xx tons, a solid decline, should help the INR.

The reason is that hardly any orders were placed due to some procedures problems... explained here.

http://www.thehindubusinessline.com/economy/no-gold-imports-in-august/article5093875.ece

But soon expect the demand to move up to > 25 tons Explained here.
http://www.business-standard.com/ar...in-aug-fall-below-10-tons-113090600644_1.html

So maybe soon the INR will depreciate again...

 

[Taiki]

Trade Setup for 10 Sep 2013

30M chart

On upside S/R lines are at 5700, 5760, 5840, 5900
On downside S/R lnes are at 5640, 5570, 5500

3 Min chart

NF continued its uptrend but faced resistance near 5700 and stayed in a sideways range for last 3 hours. Momentum stays with the bull and price is accelrating its upward journey.

Global Index
US markets are in green but EU markets ended mixed. All the asian markets are in strongly green with SGX Nifty trading at 5804. We wil definately see a gap up in Nifty today, lets see where Nifty will give us a chance to go long

Trade Area
1. BOF/BPB/TST at 5760
2. BOF/BPB/TST at 5840
3. BOF/BPB/TST a 5700

 

[Taiki]

Screwed up my last trade with early exit..
Missed my century, got out at 94... (nervous nineties :annoyed

Regards
Taiki

 

[rajgreenpeace]

Screwed up my last trade with early exit..
Missed my century, got out at 94... (nervous nineties :annoyed

Regards
Taiki

100 is milestone..........always concentrate on your average.......performance....:thumb:

 

[Tlahuicole]

100 is milestone..........always concentrate on your average.......performance....:thumb:

Good going bro, Taiki all the best, keep going.

 

[Taiki]

100 is milestone..........always concentrate on your average.......performance....:thumb:

Point noted brother

Regards
Taiki

 

[arcus]

EOD Summary

A good day, recovered my yesterday's loss, and got more also

Did 4 trades, 2 in profit, and 2 in loss, Net gain for the day = +70 points

Will post the chart and my entries tomorrow

Regards
Taiki

Waiting for the charts

 

[Taiki]

EOD Sumamry

A good day, and good start for week as well, Did 4 trades today.

Trade 1

NF opened with a gap and went for a pullback. ENtered long at 5800 when pullback got weak, SL was at 5788. Trailed the SL, and finally got out at 5850. Net gain = 50 points

Attempted 2 trades on long side when NF was in the sideways range of 5835 to 5860, scratched one trade with 5 point in hand and exited the 2nd at breakeven.

Trade 3

Took the 3rd long trade when the breakout failed on downside for the sideways range and a double bottom is formed. Entered long at 5836, SL was at 5825, This long trade also broke the sidways range high at 5865 and kept on rallying. But I exited the trade at 5875. and missed the rally to 5900.

I was sure of price moving to 5900 after coming out of the sideways range, I was in good profit too by that time, there was no point in closing the trade at the 1st sight of weakness, but it was my bad.

Net 4 trades, +94 points

Regards
Taiki

 

[Mr.Perfect]

good going Taiki, may i know which charting software and data feed you are using? sorry if you already posted them.. thanks.

 

[Taiki]

Waiting for the charts

Sorry brother, I had completely missed this..

EOD Summary for 6th Sep 2013

Trade 1 & 2

NF opened above day's high but failed to sustain. There was a short signal right in the beginning but could not take it. Shorted below 5584 with a SL at 5598. But price immediately reversed after my short entry, Did not wait for my SL to get hit, exited at 5594 with 10 points loss

Went long at 5600, with SL at 5590, This trade went beautifully, and exited when NF failed to cross 5680, Exited at 5675.

Trade 3 & 4

Entered long in pullback, Long at 5672, SL = 5662, Exited at 5688 when NF faced resistance near 5700 and fell.

Took the 4th long trade at 5689, SL at 5678, Was expecting this trade to take day's high but it could not. I was waiting for the high to be taken so had not moved the SL to breakeven, then price fell suddenly and took my SL, bad managemnet, had enough opportunity to scratch this trtade, but I did not

Net 4 trades, Net gain = +70 points

Regards
Taiki