M6 - Man, Mind, Money, Markets, Method & Madness

[OMSAI]

I mean TECHNICAL fault......:thumb:

Rish bro don't mind just kidding on April fool day......Everything was correct.....:lol::lol:

 

[amitrandive]

Important Candle formations at Correct levels

 

[amitrandive]

Price Structures in Day Trading.
http://www.sidewaysmarkets.com/2011/11/price-structures-day-trading-strategy.html

Price structure is one of the most important aspects of learning to day trade because it gives you clues to find the best opportunities to profit each day.
The term ‘structure’ refers to how the market has been ‘put together’. Is the market bullish? Bearish? Sideways? What does the market as a whole look like, and what does the ‘structure’ of the market tell us?
The first step to defining the price structure of the market is to draw trend lines and look for three simple structures:

1. Price Wedge
2. Price Channel
3. Sideways Market

Once you have searched for these most common structures, then we want to look for more details:

1. Double-Tops & Bottoms
2. Zig-Zags
3. Breaks of the Channels or wedges

Once I have my price structures, then I can use these price structures to tell me where the highest percentage trading opportunities will be that day, and when you use them correctly, these are VERY accurate.

For example, I know that when I see a bear price channel structure that the highest percentage trades will be short. For that particular structure I can eliminate the LONG side from my trading as the higher RISK side of the market while I have a price structure that is a bear price channel.

Furthermore, if the bear price channel is our price structure I also know exactly how to trade this market as well. I know that with new lower-lows I want to sell a retracement rather than selling at the lows. I also know that if price rises higher, I will be looking for price reversal patterns to sell at the highs of the range or at major resistance.

As you can see, price structures are easy to find if you know what to look for, and when you find the price structure, it’s easy to know EXACTLY what you need to do in order to get into the best trades available for that day.

 

[DSM]

Bought Asian Paints CE 500 @ 13.95 Its a directional call, and risky, since the script traded -2.40% today. The reason for buying is that I expect it to hit 550 which depending upon time factors should value call @ 25-27. Will use SL of 6.50 to exit. Let's see what happens....

 

[Rish]

Bought Asian Paints CE 500 @ 13.95 Its a directional call, and risky, since the script traded -2.40% today. The reason for buying is that I expect it to hit 550 which depending upon time factors should value call @ 25-27. Will use SL of 6.50 to exit. Let's see what happens....

I feel strike price you have mentioned wrong....

 

[amitrandive]

ORB Trade on Pull Back

Why to trade on pullbacks and good volumes.The picture itself says everything.A 5 min chart of ACC of today 2/4/2014.Also notice ORB low was a resistance line the earlier day, which was converted to support today
:thumb:

 

[DSM]

Thanks Rish. It is 530 CE.

Bought Asian Paints CE 500 @ 13.95 Its a directional call, and risky, since the script traded -2.40% today. The reason for buying is that I expect it to hit 550 which depending upon time factors should value call @ 25-27. Will use SL of 6.50 to exit. Let's see what happens....

I feel strike price you have mentioned wrong....

 

[DSM]

Inventory data is out. Crude trade : Initial position - am going long. Will add if price goes lower.

02/04/2014 20:00:53 : DOE US Crude oil inventories Exp {+1422K}; Pre {+6619 K} ; Actual {-2379 K}

Note : Crude is already down quite a bit since yesterday. So not sure how much lower it can go, so have taken initial long position much earlier than I normally wold..... lets see.

 

[DSM]

Something's different this time. Not seen Crude ignore data so long as it has today.... but sticking to strategy to trade in direction of data, adding position when the price goes against. 5/5 the trades has worked out in the past. Will it this time? Am thinking its a bit odd that intl. crude prices have not reacted well to data. MCX charts too. Against initial position MTM is -1.3K/Lot. As per plan, will add equal quantity when MTM is -3K. Have clear SL's in mind.

Inventory data is out. Crude trade : Initial position - am going long. Will add if price goes lower.

02/04/2014 20:00:53 : DOE US Crude oil inventories Exp {+1422K}; Pre {+6619 K} ; Actual {-2379 K}

Note : Crude is already down quite a bit since yesterday. So not sure how much lower it can go, so have taken initial long position much earlier than I normally wold..... lets see.

 

[DSM]

Seems way to go! Added equal position, on upswing. So will have to be careful of SL.

Something's different this time. Not seen Crude ignore data so long as it has today.... but sticking to strategy to trade in direction of data, adding position when the price goes against. 5/5 the trades has worked out in the past. Will it this time? Am thinking its a bit odd that intl. crude prices have not reacted well to data. MCX charts too. Against initial position MTM is -1.3K/Lot. As per plan, will add equal quantity when MTM is -3K. Have clear SL's in mind.