Intraday Trades - 31.12.2013

Intraday: Market was in 12 pt range today. took many trades-
1) Short on Initial candle cross with selling pressure. Got 10 pts. Mkt was looking bearish & i was expecting it to move till PDC. The big Green Engulfing candle made me out.
2) Short again on Hammer on UBB & day's high. Though signal wasn't perfect for me, but still got 6 pts. Mkt was too slow on downside, so looked for Longs..
3) Long on BOF on LBB & lower range. Out at no loss. Mkt wasn't moving anywhere so was thinking of avoiding further trades.
4) Long again on BOF of LBB & Range low.Signal looked very promising to me with Ranging BB. Was Out with 6 pts only.

Intraday Trades - 30.12.2013

Positional: I am Bearish since 27th. Planning to initiate a positional short near NF 6280.
Intraday: Market was looking bullish before start, as suggested by SGX nifty, but the 1st candle broke the PDH downwards.
1) Shorted on the break of 5 min candle. was expecting it till close, but market didn't gave any opportunity to come out. Close at first green candle.
2) Another short, when market gave a BOF & a shooting star near UBB. only 5 pts
3) Long on the BOF of day's low with a Tag on LBB. closed at no loss.
The last short trade didn't give any reliable signal to enter.. I was expecting an upmove with the Big Red Hammer on LBB, so was ready to buy above that, but market moved downwards.

Intraday trades - 27.12.2013

Intraday: I was having a Bearish stance today, but market just ran at the open & i couldn't trade the initial breakout. Tried below trades-
1) Short on the BOF of the Range. SL hit
2) Short again when price denied to move above day's high. Exit at no loss.

Intraday Trades - 26.12.2013

Intraday: Today Being Expiry day, I was planning to trade in the morning session only. The market was dull in the morning & gave 2 opportunities. Refrained from Trading in the end.
My Charts on Investing.com were not working, so used Google today (I Don't like IIFL charts, the terminal I have)
1) Long on the Hammer at LBB. Exit at UBB
2) Short on the shooting star/ Hammer at UBB + BOF of Day's high. Closed when it refused to go below yesterday's close in 2nd attempt.

Intraday Trades - 24.12.2013

Intraday: As tomorrow is holiday & then expiry, i had a Bearish bias..
1) Didn't attempt 1st & 2nd BOF as all the DP were just above & i was bearish.
2) Attempted BOF of range high. Closed at Range low.
3) Another short at the pullback on the range low. SL hit
No further trade..

Intraday Trades - 23.12.2013

Intraday: Today, Market gap up & I was expecting it to fill the gap. Chopped Badly & Traded too much.. will refrain from it tomorrow.
1) Long on the BOF of range low & LBB. 7 pts only.
2) Long again on the candle after pullback. SL hit
3) Short on the BOF on big red candle. Out at No loss.
4) Long again on pullback after breakout. Out at the shooting star on UBB
5) Short on same Shooting star. Didn't sit with full move & got out with 7 pts again

Intraday Trades - 20.12.2013

Intraday: Didn't attempt the morning trade due to 1st candle as inverted hammer. But after 11:00, took 2 Longs today:
1) Long on the BOF of the 1st candle high with favourable BB. Got out at the hammer outside UBB, a little early.
2) Another long on the pullback on range high with close above UBB. Waited till end of the session to close.

Identify A Trend Change by Pivots

In Simple Terms, An uptrend is a series of Higher Lows (Yes, Higher Highs are not mandatory for uptrend) & a Downtrend is a series of Lower Highs in that particular Timeframe (its Important).

Here is a simple method to Identify a Trend Change in any Timeframe. Look at the Picture below:

A Downtrend is in place before the Blue line. When this Blue line breaks, Downtrend ends, but Uptrend doesn't Begin. So its a NO TRADE ZONE.
When the Price makes a new Pivot High breaking the previous Pivot High, it confirms the Uptrend

That's it. Now, if you really want to understand, Practice by looking at atleast 50 charts and see the trend change.
Remember, a chart or chart pattern will never look same as seen earlier!!

Intraday Trades - 19.12.2013

Intraday: Market moved fast in the morning due to FOMC effect. Was out of the market till 11:00 am letting it to settle down. Was not expecting too much from today's market. Took 2 trades:
1) Short at the BOF of range formed. A shooting star at UBB. A tag on LBB & went up. Closed it at no loss.
2) Short again at BOF of BRN 6200. Was expecting this trade to move beyond today's low. But again No Close below LBB, so closed it at LBB.

Intraday trades - 18.12.2013

Intraday: Took a single trade today & was contended.
1) Long on the break of Initial Range candle. Got 24 pts at BRN. Chart made a Shooting star on LBB so was ready for that.
No signal to enter the fast move & then market remained in a range with no good signal to enter..

Intraday Trades - 17.12.2013

Positional: Market is looking weak as was not able to sustain above 6200. RBI policy is also nearing. will not attempt any Long & will look for some shorts..
Intraday: Took one trade only as was trying to reduce my number of trades. I am trading too much from last few days.. now will focus on 2 trades max per day with High probability. (to time the market is not the idea, to stop Over-trading is)-
1) Short on the Failure to continue & break of the range with close below LBB. Keep sitting tight till market close.

Intraday Trades - 16.12.2013

BB removed for better explanation of today's range..
Intraday: Market was in a good range today took all the BOF trades, but no major point earning..
1) Missed the first move marked by pink candle, as it went too fast..
2) Bought the BOF of day's low. Ended up at PDL.
3) Shorted just after getting out of long as BOF of PDL
4) Bought again at BOF of PDL.
5) Shorted again in the last expecting it to break the range low, but it stopped just there only.

Got my New Car Today - Etios Liva - 13.12.2013

Hi All,

Today I got my New Car -Etios Liva in Red... Happy to say that it's funded by Trading !!

Excuse me for my bad photography. Its from my Mobile..

Thanks..

Intraday Trades - 13.12.2013

Intraday: Didn't trade today as I was out to get my New Car. Today Market open gap down & gave 3 opportunities-
1) A Hammer Long at LBB & BRN in ranging market
2) Another Hammer Long at LBB in ranging market
3) A Shooting star fro Short in ranging market. Remember we never take 1st & 2nd reversal signal, when market is Trending but Yes in Ranging..

Intraday Trades - 12.12.2013

Today was a bad day for me..
Positional: Stopped out. It was a bad judgement.
Intraday: Took 3 trades & missed the 4th important one..
1) Took a Short on BOF of Range high. Closed at range low
2) Took another short at BOF of Range high, closed at range low
3) Took a Long at range low, waited as market. waited too long and stopped out
Didn't take final trade.. .again a loss..

Intraday Trades - 11.12.2013

Positional: Took a Long today at 6227 as the R:R seems quite good (marked with Blue arrow). 1st TGT is 6420, SL is today's Low around 6110.
The reason - BB made a Tag & then no Touch  + RSI gave Hidden Divergence & a touch at its Bull boundary - 40 in Hourly TF

Intraday: Attempted 2 trades as below-
1) Long at the BOF. The BB tag + FTC confirms the signal. Closed at Day's high. no prior trade as the RR was unfavourable, no space to move..
2) Short at the BOF. Covered at Day's low.
Was not expecting this much move in last 30 mins. Also, No reliable signal happened, so didn't take that

Intraday Trades - 10.12.2013

Intraday: Market keep closing below LBB. Took a single trade-
1) Short on the break of range low. Covered with 20 pts

Bollinger Bands (BB) - Rule 3

Third Rule of BB - Close/ Tag or No touch on BB

Ok, here comes another good rule for BB, which i use most of the time. Its a little tougher & needs practice to watch at Live market. So, keep identifying it first at daily charts- then on hourly TF & finally on hi speed 5min/ 3 min charts..

BB are nothing but the standard deviations & in Technical terms, when a process moves outside this band, it will turn to its mean IF ANY EXTERNAL INTERFERENCE forces the process. This External Interference is generally the Smart Money & it is shown by the Close / Tag or No touch on BB..

Close means, no Interference, so market will most probably continue the same direction after Pullback
Tag means, some External Interference & a pressure to not let the Process deviate the other trend
No Touch is nothing but Failure to Continue & even touch the BB, a good Pressure for Reversal.

Lets see with below example to understand all 3...

So keep looking for them and decide on the position, whether to exit or take reversal..

NB: The order should be right at a DP - 1) Close then 2) Tag and 3) FTC. Not in reverse order...

Happy Trading !!!

Glossary

Intraday trades - 09.12.2013

Positional: Market made a shooting star in hourly chart. Hesitated to go short positional today due to big gap opening. I think market has already discounted the BJP wins..

Intraday: No suitable trade today as market was in tight range on a BRN after initial move..

Download the Best Trading E-book

Hi All,

The best Trading E-book is Out !! Its the rare piece of work in its simplest form.

Newbies- Try to go through it at least 5 times,
Oldies - Go through it at least 10 times as you need to overcome the barrier of your old goodies..(indicators/ patterns)

Just understand it & if any doubt, feel free to ask...

Nifty Nirvana: Download the E-book: Finally here is the book for a weekend read.

Intraday Trades - 06.12.2013

Intraday: Today's market was a good ranging market. Tried only breakout failures-
1) Short when it refused to break Round number 6300. Slowly drifted to yesterday's close for 20 pts.
2) Long on same breakout failure. Came out at no loss.
3) Again a short at 6300 for 10 pts.

Intraday Trades - 05.12.2013

Positional: Market couldn't close today above upper BB with a bearish stance. OI data is suggesting 6200 ~ 6500 as a range.. Monday's election result can have an impact on either side, will wait for that..
Intraday: Took a single trade today after gap up-
1) Short on the Breakout Pullback on the 6200. Got 20 pts.

Intraday Trades - 03.12.2013

Starting updating daily by 6:30 as i wait for OI data from NSE for Next day Positional trades clues.. will not trade tomorrow.. see you on 5th..

Positional: Hourly chart is still looking bearish. It will most probably make a double top & will try to go short there..

Intraday: Missed the first Long completely. Also as I was Bearish for today, so took 2 shorts only-

1) Short when breakout failed on yesterday's close. Got only 14 pts..

2) Shorted again when it refused to go above the same close. Got 15 pts..

Intraday Trades - 02.12.2013

Positional:  A Hanging man is formed in monthly chart. So for long term, this month closing should be above 6370.
Hourly chart preparing for a divergence so Looking to go Short positional tomorrow or day after at right price. TGT is 6000 as its a good base for Bulls now.
Intraday: Many signals were generated today. took the below trades -
1) Long on the Hammer after pullback on mid BB and yesterday's high. Closed when mkt became ranging.
2) Long again on reversal signal on BB. The market was bullish, so it was a high probability trade with TGT as upper BB/ Day's Hi.
3) Long again on the Hammer at lower BB. This ended up with my SL.
4) Final Long trade on the big hammer at Lower BB. Waited too long to get 10 pts.

Intraday trades - 29.11.2013

Intraday: Was not available full day for trading. Took only 1st trade in the morning..
1) Long on the initial range candle hi cross. I was bullish from yesterday due to OI roll over, so took the trade very easily.. Closed with 40 points..
No further trade, & thank god, as i would have given some points in the trade marked with pink arrow..

Intraday Trades - 28.11.2013

Intraday: Today was expiry so wasn't confident to take any trade. Took only one..
1) Shorted on the break of the range low. Ended up at my SL. No further attempt. market was choppy in the end.

Intraday trades - 27.11.2013

Intraday: Took only one trade today as market was choppy & didn't find any good RR for any other trade..
1) Mid BB was down, 6100 was broken & a pullback occurred. Took a Short on Breakout Pullback. Closed it with 10 pts only at the retest of BB, when it refused to go below in 2nd attempt.

Bollinger Bands (BB) Rule 2 (Reversal)

Second Rule of BB.. Pay attention to Hammer/ Stars on BB

One of my simple rule to find out a reversal is to find a Hammer at Lower BB or a Shooting Star at Upper BB. But always remember, in all the cases, we let the mid BB flatten.

That means we don't take the first reversal of BB after any Range breakout. We trade 2nd/ 3rd reversal signal on Lower BB & 3rd reversal signal on upper BB. This is due to the fact that reversal from Uptrend generally takes time, so we generally take 3rd reversal sign. Better to miss a trade then to be in a Bad one.

See my below trade as an example on 11.11.2013. After range breakout, 1st & 2nd reversal candles left. Took 3rd reversal at the marked place..

Reading BB is an art. Read it with Candlesticks but no need to remember the technical names of the candles. When we see a candle & tell to our self that people are buying/ selling or are in indecision, it's enough. We are trying to read the sentiments from candles.
Also, we need to wait for the second candle (one candle makes fool generally) & of course near to our DP.

Intraday Trades - 26.11.2013

Positional: Closed all the longs in today's Range @ 6120 Nov NF. Market is turning without giving any good signal, so not attempting any Shorts right now.

Intraday: Today market was choppy/ Took 2 trades-
1) Took 1st short on the Breakout Failure of morning range high at crossing mid BB. Closed it when price was not able to breach Lower BB & morning range low.
2) Took 2nd short after breaking Range low, but ended up giving my SL.
No Further trade found reliable, as no good DP nearby. Could have taken the last Short trade on pullback at Range low (Pink line), but avoided as RR was not adequate.

Intraday Trades - 25.11.2013

Positional: Exited half longs at 6100 NF & holding remaining lots with SL 6085. Will exit all longs most probably by tomorrow & will plan to take positional shorts as per my RR..

Intraday: Attempted 2 trades today-
1) First was the break of 1st candle + Close above upper BB.  A 30 pt move
2) Didn't find any reliable signal for long trade at an early stage, so took again a long in the last 30 mins. Trade didn't move well & closed it at No Loss.

Bollinger Bands (BB) - Rule 1

First Rule of BB..  Pay Attention to the 20 MA (Mid BB)

Although, this is one of the rule of my rules, I follow to Day trade. You need to combine it with your other rules..

So, whatever Timeframe you use, You need to initiate your trade only in the direction of 20 MA (Mid BB). When its Up, you need to Buy & when its Down, you need to Sell only. The Flat mid BB suggests to Buy/ Sell on the touch to the BB extremes.

I know, this is a Simple rule & people don't follow simple rules. Human mind believe complicated things more over simple ones and try to find out a way in which simple systems don't work. But Trading is a Probability Game. This simple rule will ensure increase in the Probability of success.

No Index/ Stock can stay much away from its 20 MA. It's also used by majority of traders and place their SL above/ below it. So consider another factor of Order flow above/ below it.

See the below trades of 22.11.2013 and look at the mid BB just before the entry. Include this simple rule in your Arsenal & feel the difference..

Intraday Trades - 22.11.2013

Positional: Have taken a Long Position today @ 6000 NF. OI Data, BB, RSI as well as the Price movement suggests that it will hold 6000 for a minimum target of 6100. RR is good with small SL @ 5975 for positional.

Intraday: Market was in a Range till 1 PM.  INitial range marked in pink. Day's Hi/ Lo with light blue. Took 3 trades today-
1) A Short on the BPB of Yesterday's Close. Ended in giving my SL
2) A Long above Initial Range at a Pullback below it. Closed with 8 pts.
3) The third traded, which made the day was a Short on Failure to continue, break of Previous low & move below Lower BB. Quick 25 pts.  It was same trade as was on 20.11.2013
Didn't attempt the BOF of 6000 as it was already 3:00 PM, so was not expecting it to move on upside..

Intraday Trades - 21.11.2013

Intraday: Took 2 Trades today- Bad trades -
1) Shorted on the pullback after breaking the previous hourly DP. ended in few points
2) Shorted again on the Range breakdown and close below lower BB, ended up giving my SL.
was getting chopped out so no further trade taken today..

Intraday Trades - 20.11.2013

Intraday: Market moved in Yesterday price range for 2 hrs & around 75 pts in last 30 mins. Took 3 trades, and missed 1 (marked in pink)
1) Shorted on the Break of Range, but closed at No Loss.
2) Missed the 2nd trade marked in Pink. Didn't find any suitable entry point as all the Resistances were just above the entry.
3) Took the long, when it closed above mid BB after touching the Yesterday's Low. Got 6 pts only.
4) Shorted when it closed below all DP & lower Bollinger also ..Closed trade with 40 pts.. Couldn't sit tight more than that !!

Set your Charts for Day Trading

Today I will discuss about enhancing Day Trading performance by adding some very essential markers to your charts..

No matter what time frame you trade, you should always be aware of the situations on the time frames superior than yours. E.g. in my case - if I trade on 5 min time frame, I must know what conditions are on 1 hour & Daily Time frames.

What kind of conditions am I referring to? I’m referring to major Decision Points (Support and Resistance levels) traders must, must and must know about. Therefore, the First & Foremost Aspect of trading is finding Decision Points (DP) & then planing your trade based on RR (Risk Reward)

In particular, mark the next price levels by drawing Horizontal lines:
- Monthly DP (if any, no need to draw them all, just nearest and most essential ones, for the current day)
- Weekly DP (same, only the nearest ones)
- Daily DP means High, Low and Close of the Previous day
- Big Round Numbers (BRN), close to ’00  E.g.- 6000, 6100
- Zoom out to draw DP based on latest major swing high/ low, or which looks like a Range for your main Trading chart. (I Preferably use Bollinger bands for defining Ranges)

Done!

I have additional levels for you.. Always remember to check out today’s economic news schedule, if any. Set vertical lines highlighting the time when fundamental news are due what may affect today.

Now we are done!

So, What to do with all that? Just, Look at them! & Believe me that you will like it, because you will see how predictably price bounces at all those levels you have drawn, and how well it accelerates after breaking through those levels.

The grid of levels will become your map. This Map will drive you to the Success...

Intraday Trades - 19.11.2013

Intraday: In today's Ranging market, i was chopped twice. Took 4 trades -
1) When price didn't even rise to the high after testing yesterday's Hi, Close, Shorted on the break of Pivot & mid BB. only few points.
2) Entered Long on Breakout failure on the candle touching mid BB (although no Pullback). Got 10 pts to the range high.
3) Entered long again at the break of recent high taking it as breakout Pullback. Ended in giving my SL.
4) Entered Long again the 2nd time. Ended again at my SL.

Intraday Trades - 18.11.2013

Positional: NF has given a Breakout above mid BB in Daily chart after a Morning Star formation. RSI rising from 40 after a Hidden Divergence. It seems Upper BB & Range high - 6400 will be the next TGT as BB is suggesting Ranging market..

Intraday: The market was confusing in the morning & was Ranging. Marked a range with Pink lines. 2 breakouts with close outside range but no Pullback trades available..Took 2 trades after that-
1) After a Big pullback, Nifty came out of Range, but with no momentum. It wasn't able to close above upper BB. Shorted after breaking the pivot made by Doji. Covered with , when a Hammer formed on Range Low with 6 pts.
2) Nifty Tested the Range Low, then a Failure to continue. Initiated the Long with Pivot break + close above mid BB. Got good 20 pts..

Intraday Trades - 14.11.2013

Positional: As expected & was suggested by OI data yesterday, Nifty took a Bounce from BRN 6000. This minor rally will be a good Shorting opportunity.
Intraday: Took 3 Days today-
1) A long on the Pullback at the mid of Initial WRC (Wide Range Candle). Closed with 20 pts
2) Nifty gave 3 close above upper BB. then a lower relative close of Swing high. Market become ranging for a while as suggested by BB. was waiting for a Close below mid BB after touching upper BB range. A Short done with WRC low as target.
3) Another Short, when Nifty broke the WRC low with close below lower BB. Expected to go down fast, but ended up with SL.

Intraday Trades - 13.11.2013

Positional: Nifty almost touched 6000. No chances of exhaustion of the move, but OI suggesting that market will hold 6000 Level for a time, then can move sharply towards 5750..
Intraday: With yesterday's bias, I was only looking for an OK upmove/ Gap filling to short the market today.Took 2 Trades
1) Shorted at yesterday's close with Good Bearish Momentum. This trade ended eating up the SL.
2) Shorted again, when nifty refused to go above the same point. Came out with 6 pts only.

I was looking to short again at the Pink arrow, but trade went without me left me waiting...

Intraday Trades - 12.11.2013

Intraday:- Attempted more than normal trades today. Usually 2 is the max no of trades, i take but as Market was ranging & gave so many opportunities..
1) Shorted on the Failure to continue upside& close below mid BB for 14 pts
2) A pullback bought into, when market didn't go below second Support level & formed a hammer.
3) As the market was Ranging, another Short on Failure to Continue. Closed at day's low with big green candle
4) Shorted again , when market didn't give any breakout above mid BB and previous Pivot..

Intraday trades - 11.11.2013

Intraday: Took only 1 trade of 20 points- A short from the Lower high at upper BB and Previous Day Close.
No other signal looked reliable.

Intraday Trades - 08.11.2013

Intraday: The market was Ranging all the Day.  Went Short once price broke the Range Low with BB signal, but stopped out when price moved above mid BB. No further attempt.

Intraday trades - 07.11.2013

Positional: Nifty Confirming its negative stance. I am still waiting for a Pullback to NS to cross mid BB to enter the shorts fro a TGT of 5750/ 5700

Intraday: Took 2 simple trades-

1) Long on Close above upper Bollinger after good ranging.. This is The Squeeze Play..

2) Short at the break of Previous low, when Nifty didn't cross mid Bollinger. 

Intraday Trades - 06.11.2013

Positional: Nifty Showed strength in the morning after morning recovery but ended up Bearish. Rising up a little again on Daily chart & then crashing will give a good Positional short with fast movement.

Intraday: Market was difficult today. Took 2 trades:-
1) First was to go Short on the breaking of low with close below Lower Bollinger band. Ended in loss.
2) Went Long when found market Ranging & not closing below Lower Bollinger, but ended in giving my SL again..

Intraday Trades - 05.11.2013

Nifty OI is changing in interest of Shorts.. Today's move also supporting Shorts in future.. Lets see how it unfold tomorrow & then can make 1 positional trade...  Once initiated this trade, My target will be around 5750 depending on the momentum

For Intraday, Attempted 2 Trades:-
1) Went Long when nifty closed above mid BB & 6300 after Consolidation.. A nice 30 point move
2) Shorted , when nifty crossed mid BB, took 12 points, when it moved in range at Lower Bollinger..
No other reliable signal

Weekly Chart 31.10.2013

Normally, I avoid trading Expiry day. So not trades for Today & Even tomorrow.

Was Looking at  Weekly Chart of Nifty. Bollingers are suggesting another 200 pts move. I hope, in coming few days, Market will make New Highs & with this Euphoria, Everybody will be buying Anything... That will be the time to Short Positional...

For Intraday... Market will be ranging 90% of the time.. so as usual- Trade on both sides..

Intraday Trades 30.10.2013

Euphoria not ending for Nifty.. Market was Ranging in the morning. Took 2 trades today:-

1) Went long on the Hammer resting above mid Bollinger..Got very tough 18 points as was fearing with the wicks of candles & a doji made me out..
2) Was waiting for going short since morning, as i am bearish from few days.. Entered on a Big Bearish candle. Another 18 but Quick point move made my day..