Tuesday, 4 October 2016

Monday, 3 October 2016

Oct 3 2016


Missed Morning Move  because of  BRN.
Took PP trade for 20 pts.

Friday, 30 September 2016

Quick Vote on Order Placments

How many of you are finding it hard to place limit orders ?
Currently None of the Trading platforms have limit order facility. And in DP system it is a must to place limit order for 2 Reasons:
1> Limit order have higher priority so they get better fill
2> Avoid slippages.

Please leave a comment.

Sep 30 2016


Thursday, 29 September 2016

Sep 29 2016


Missed the Move.  Move came from a confluence of MSP(Not very prominent) and Strong Flip. Fall was extremely fast to catch BPB trade. Let it go.
Not comfortable with High volatility done for the day... 

Wednesday, 28 September 2016

Sep 28 2016

One Trade.
Was not comfortable taking reversal trade, Better to call it a day rather than cribbing..


















1> Bias is down or Ranging day. 8700 resisted and is a strong DP. we had rejection from there.
2> Price opened below PDC initial move is UP why ? it should have been down
3> BPB trade By Bias is ranging will avoid taking trade.
4> DH Not a strong rejection to short it it could be a channel move to up side.
5> Is that a channel ?
6> Trend  --> Channel move with Trend
      Range  --> Range Extreme (DH is DP)
      DP   --> Not a Strong one previous rejection didn't reach range extreme
      Space --> Till PDH space available
      CM   --> 11:30 - 12:30 tight range all shorts may exit
      OF  --> Exits from CM might give a good move.
7> Why it is struggling may be that is the Channel extreme. It can pullback now to downside of channel will book out and look to reenter
8> Failed to reach the DP buffer space ? Trend is strong should I enter ? hmm hesitated missed..
9> BOF of PDH , but looking at channel and Trend bit risky to shot.
Trend  -- NO
Range  -- MC candle can act as range NO
DP  -- Yes
Space -- NO (no fluid , MSP may act as hurdle)
CM  -- Yes (long)
OF  -- Longs may cover
Risk  -- Above MC candle high risk (NO).
 Hesitation missed closed the day.

Monday, 26 September 2016

Cockroach Theory

In Trading you need to plan your trade and follow the plan. This helps us to respond and not react in haste.
Following theory from Sundar Pichai helps to though some more light on that. 

A Beautiful quote from Sundar Pichai CEO Google
“At a restaurant, a cockroach suddenly flew from somewhere and sat on a lady.
She started screaming out of fear.
With a panic stricken face and trembling voice, she started jumping, with both her hands desperately trying to get rid of the cockroach.
Her reaction was contagious, as everyone in her group also got panicky.
The lady finally managed to push the cockroach away but ...it landed on another lady in the group.
Now, it was the turn of the other lady in the group to continue the drama.
The waiter rushed forward to their rescue.
In the relay of throwing, the cockroach next fell upon the waiter.
The waiter stood firm, composed himself and observed the behavior of the cockroach on his shirt.
When he was confident enough, he grabbed it with his fingers and threw it out of the restaurant.
Sipping my coffee and watching the amusement, the antenna of my mind picked up a few thoughts and started wondering, was the cockroach 
responsible for their histrionic behavior?
If so, then why was the waiter not disturbed?
He handled it near to perfection, without any chaos.
It is not the cockroach, but the inability of the ladies to handle the disturbance caused by the cockroach that disturbed the ladies.
I realized that, it is not the shouting of my father or my boss or my wife that disturbs me, but it's my inability to handle the disturbances caused by their shouting that disturbs me.
It's not the traffic jams on the road that disturbs me, but my inability to handle the disturbance caused by the traffic jam that disturbs me.
More than the problem, it's my reaction to the problem that creates chaos in my life.
Lessons learnt from the story:
I understood, I should not react in life.
I should always respond.
The women reacted, whereas the waiter responded.
Reactions are always instinctive, whereas responses are always well thought of, just and right to save a situation from going out of hands, to avoid cracks in relationship, to avoid taking decisions in anger, anxiety, stress or hurry.
A beautiful way to understand............LIFE."





Sep 26 2016


I got some question on what is the Trading project. Without going much into details : I am coding a tool based on API for another Trader.
It is not beneficial for us. Doing it for some monetary benefit and also for some change. Trading is a very monotonous Job :).

Thursday, 22 September 2016

Sep 22 2016


One Trade had to scratch when the momentum died.

Note: Posting will not be regular from here on. Taken up another assignment related to trading which will take up time.

Friday, 16 September 2016

Sep 16 2016

Anticipated Type 1 day, took the initial Trade.
It crossed NSBRN quiet easily, but later it trend weakened. Actually if you look closely it gave lot of indication it might reverse. Look at image below.

Took BPB trade which moved well.
Done for the Day.



Note: On Travel will not be trading few days in next week. Will be back on wed/Thursday.

Trade well. Need to catch Train bye..

Thursday, 15 September 2016

Sep 15 2016



In Hindsight Trade #2 could have been avoided. If Big picture was read correctly.
Buyers in control from 14-Sep. They are buying each possible sell offs.
Trade # 1 Bo was good.
Trade#2 could have been avoided. Against Trend.

Wednesday, 14 September 2016

Sep 14 2016


No Trades Today. Didn't find any good entry. Channel made it difficult to trade.

Monday, 12 September 2016

Friday, 9 September 2016

Sep 9 2016

Took 3 Trades
Trade #1 Scratched
Trade 2 and 3 Moved as expected.

Amit for your reference:

Thursday, 8 September 2016

Sep 8 2016

2 Trades both didn't move.
Failed to notice Big channel in moved in ..

Wednesday, 7 September 2016

Sep 7 2016

One Trade scratched. Done for the Day.
Too late to initiate any more trades. I think NF might consolidate in a Narrow range for few days before attempting to Break 9000. Lets see. 

Tuesday, 6 September 2016

Sep 6 2016



One Trade. Had to close it because of Time. It can go 7-8 points from here (NS RN).

Friday, 2 September 2016

Sep 2 2016


Took Long Trade didn't move for more than hour, Scratched it . It moved exactly after that :)..

Thursday, 1 September 2016

Tuesday, 30 August 2016

Monday, 29 August 2016

Aug 29 2016


1> Bias is Long it is taking support on intra day levels.
2> hmm Initial move is down. it may fail at PDL. Will resist long trades as of now. No Order flow to support trade.
3> DL created, can we expect a restest here ?
4> High created , Upper range getting created.
5> Upper range
6> CT shot trade possible , BRN will definitely resist.
7> BRN resisting.  Long Trade BOF
8> PP setup it might break range extreme. Will look to target NSBRN
9> Target reached.  It may go higher I am not interested. Done for the Day.
Meeting another DP trader today  :-))..

Friday, 26 August 2016

Aug 26

1 Trade Scratched

Attempted CT trade at Range extreme. Stopped out

Thursday, 25 August 2016

Aug 25 (No Trades)

Didn't find any opportunity in morning.
Avoided Trades in afternoon. 

Wednesday, 24 August 2016

Tuesday, 23 August 2016

Aug 23 2016

Have some work will post details later if possible.
Took 2 Trades

Monday, 22 August 2016

Aug 22


Took one short Trade at 10 exit at loss.

1> Opened withing yesterday range. Could see 2 ranges PDC to PDH and PDC to PDL.
IS the First candle MC?
2> Looks like IRL , Will avoid taking short Trade  Because of space.
3>Broke PDL easily
4> MSP
5> DL
6> DL rejection Will look to short from MSP as the Bias is short.
7> Nice flip forming here. Could act as support.
8> BO
9> Second Push failed. Can look to short. Few things against favor BO is MC and Flip just below. IF there is bounce from FLIP will cover the trade.
10> Short
11> Flip is holding. Lets see if it breaks. Nope pivot is broken. Will exit.
12> Bias Turned to bullish. Will look for a Trade near 12.
13> Nope It is forming Narrow range. Range broken. No More Trades.
Done for the day.








Mistake: Should have waited for the FTA reaction. Then entered.
It was not a good BOF as there was no quick rejection. 

Friday, 19 August 2016

Aug 19


Expecting Range Day
1> DO acting as Range, will go short Target is DL / PDC if bounced then need to scratch.
2> Didn't move as expected will scratch this trade.
3, 4> BO of the Range. BOF of DH. Will avoid taking 2nd trade from the same DP, + BW in this range might not yield much.
5> Good momentum, ooh Brok PDC/DL didn't expected that.
6> Support at PDL, Looks to be good support.
7> Support again
8> Moving up, BOF of PDC/PDL.
9> Short  hmm Bounce will scratch this trade.
Done for the day.

Thursday, 18 August 2016

Aug 18

1 Trade Scratched.
Mistake: Took BO trade, considering HFT, should have scratched at +3 pts when 2 push also failed.

9:15 Initial Move is up for a  PP kind of setup . withing yesterday range will look for a BOF setup.
9:43 TST kind of setup to go short. Will let it pass. DO is 10 pts away we need a strong BOF to break the lower DP.
9:48 looks like TST failed. Its going back to DH/PDH. Not a strong move looks like it will BW there.
Waiting for BPB is a good option. Lets see.
9:51 some orderflow which is resisting up move but why ? I don't see any urgency to break the TOP.
10:16 stuck in indecision BW. Lets stay out.
10:18 Interesting looks like movement to upside. will it give a BPB trade or just move up ?
Upside space is 20 or may be less. Will make sense to take this trade only at 80 
10:19 overall looks like a mediocre trade. If a strong BOF worth attempting as space after DO is hugh. Will look for failure of this breakout. Else let go of Upside trade.
10:22 Looks like a BPB trade. At max I need to exit at 6700. which is 17 pts away from my entry. Will let go this trade. Also this BO was not set to my liking
I look for atleast 25 pts trades. Else let go.
10:30 ok BO good move. Let see what happen at BRN. Bias is UP above PDH cannot enter any trades right now. Should allow some consolidation.
10:47 It was suppose to take support on BRN why it didn't . Is it BW in making ?
11:15 BW let it play out as long as it wants
12:30 Can we act at BRN ?
13:00 Big candle , resisted at BRN ? There is no Strong rejection , Bias is up. Shall we look for a BPB trade ?
13:13 BRN is risk DP will take confirmed trades only.
13:26 OK this is PP setup will go long FTA is 10 pts away if that break we are in for 50 pts trade.
13:30 Long order triggered at 8701 stop at 8793 Target at 8750. 
13:43 rejection but took support at the DP our entry is acting is Flip will hold the trade.
13:59 looks like bulls are not finding it easy will move stop to 95. Ideally 700 flip should hold. Lets see.
14:02 hold on are we in channel ?
14:05 Scratched:


14:12 woo 30 pts fall. Why ? any news ? Didn't find any. It is a technical fall then hmm ok.

Reaccess situation:
14:26 Time left 45 min.
for down trend PP can be tried. BPB will eat up into profit.
Good trade would be reversal back to DH.
14:30 Reversal Trade will be somewhat V shape. 
14:33 Very Tricky to take trade under such circumstances. No option but to wait..
14:45 No point taking any Trade. Done for the Day.



Wednesday, 17 August 2016

Aug 17


2 Trades both Scratched.

1> Initial Move to upside unable to sustain above PDC.
2> BOF,
3> Short trade.
4> Not able to move as expected. Back inside DO range. hmm 
5> Trade scratched.
6> can this for a PP set up to break below ?
Nope Scratched
7> Good up move why stalled at top ?
Is it a range day can I expect a BOF on TOP ?
DO can Act a FTA for this trade.
8> Crazy PA should wait for more feel.
9> Why is IRL coming into picture now . This is also DP -- DO. hmm interesting.
10> Why such a strong move ? 
11> There could be OF to take this higher. It is not set properly so avoiding
Good strong BO will it give a pullback or just takeoff from here. If it takes off should let it go.
12> Why such a deep pullback. This could be BOF or a new small range on top.
13> Looks like Good BOF failure. Risk management will be issue. what to do 
Also this could act as a range also.patience is the king :)..
Also MC candle might act as range. Will avoid taking any trade here.
14> Reached other extreme without giving a good entry. Looking at this this might give a PP set up or a BPB.
BPB is ruled out. is PP a good bet ?
Potential for PP trade. Lets see 
15> Short at 40. Target will be 8601. Measured Move in picture. Provided PDL gives in. Looking at Trend strength it looks to Break.
16> Trade Scratched at the pivot.
17> 3 things can happen either reversal where in we can go long at the range with a BPB entry or a BW  or the Trend might continue to reach our Target (part of the game).
Looks like BW will continue for rest of the session. Cannot take a PP trade as we didn't get BOF. Best is to close the trades.

Done for the Day.





Tuesday, 16 August 2016

Thought Process for Aug 16


1> Strong initial move, why it is not able to break PDC. BOF of PDC
2> Will go long above this point.
3> Might be Pullback lets wait.
4> Wave is very weak. Scratch the trade.
5> Look for short trade now
6> Possible trade is PP at range low or BPB.
7>Pressure built can take entry here Context supports it. Short here
BO . Pullback is weak will hold the trade. Stop at Break even.
8>Second push failed. 
Covered the trade.
Bias is down
Look for a BOF trade at range extreme.
9> BO will wait for it to fail. Context wise it is not a good BO. Question is will it fail.
10> Nope took support going high.
11> Good move up should I change my bias to long ?
12> Why it has not crossed the range is the Trend strength diminishing.
2 Tests failed to cross the range. Will look to short.
13> Will look to go short. hmm No time for trade to move reaching last stages of trade. Lets close the day. DONE..

Always build the story and look from that context. Rest all is Tactics to take trade BPB,BOF , PP, BO..

Aug 16

2 Trades
1st Scratched
2nd good.
Fluid Below PDC , was very sure to get big trade there.
1> NF opened in last corrective wave. BOF from PDC went long. 2 push failed to go higher.Should have scratched there. Waited for one more push. Will not repeat such mistake in future.

2> Bias changed to short. Gave a good PP setup. Covered on bounce from BRN.

Didn't get good entry to go long on last wave. IF there was time would have attempted short Trade below the pivot.
Done for the day...

Monday, 15 August 2016

Some Additions to MSP post

Uday gave some inputs on Marking MSP. Please take a look makes more sense.

Remember we need to constantly adjust adapt for MSP , these methods will give more clues for approximation.

Please Bear in mind what ST said in last line.
http://niftynirvana.blogspot.in/2012/12/major-swing-pivots.html
"As usual do not think too technical and do not be too rigid in your definitions. Now forget everything .Keep it simple. If a swing pivot looks prominent, treat it as MSP and watch price action around this area.
“If it looks like a duck, quacks like a duck and walks like a duck, it's a duck"

Context

Niftytrader hope this pic will be able to convey what I meant.
I saw a similar pic long back. I imagine this to steer away from Bad quality Trades.

Build Context with Trend , Range, DP, Space, CM, OF, Risk then pull the Trigger.

Good Trade


Bad Trade

Sunday, 14 August 2016

Traders Journey

Amit hope this answers your question:

Almost all find it difficult to transition from professional career to Trading Career.
A lot is written on Stages of career just do a google search it will give(4-6) Stages in general to pass
through. Everyone has to go through it. Only Exception being if you are born in Trading family. Just like
son of Businessman/ Actors.

One good thing about trading anyone can succeed provided you focus on right skill set with intent.Only then learning curve becomes shorter.

Personally I think you just need 3 skills to succeed in this career.
1> Technical Skills (30%)
2> Focus Skills (35%).
3> Gratitude Skills (35%).

Let me explain:
Technical Skills : You need to be confident in what you are doing that is technical skill. Because of this you will read the market and Take Action.

Rest 2 Skills are related to Action and Reaction Part.

Focus Skills: Quality of Action depends on Quality of Focus.This is one of the profession where you are punished mercilessly every time you make mistake.
Most of the mistakes happen because you are not focused.
Mistake happen when you are either lazy or Tensed. Focus is somewhere in between of these 2. Learn to identify that sweet spot in between.
In short you give in to impulsive behavior if you are not in a state of relaxed focus.

Gratitude skills: This is learning to be centered for the reaction that happens after your action. To come to the point what happens when you take the trade.
Scratch -- Focus required to Scratch the Trade
Winner  -- Gratitude required to stay centered
Looser -- Gratitude required to stay centered.

How to practice gratitude : Gratitude is being Grateful / Thankful/ Humble. Let me explain
Suppose you are watching market without gratitude you take trade it turnout to be looser what will be your reaction? You get angry/sad/ Negative reaction not good in this profession.

What is Gratitude?

you are in coffee shop someone asks for 100 rupees will you give ?????
Now:
Imagine you had near death experience of falling from a cliff and got saved at last movement . you come thankful for your life being spared and  relax in a coffee shop now someone asks for 100 Rs. I bet you will give away 200 Rs and still  be happy with it.

Gratitude is the same kind of feeling you need to carry before taking each trade. It should be part of trade plan. Before taking trade develop a great sense of gratitude and take the trade. This will build you with enough emotional capital to take hits from market and be ok with it.

Few people watch the market with gratitude entire day. Like they keep thanking market for moving because each movement gives them opportunity to have purest form of financial independence (Trading). Without movement there will not be any Trading job.
Other Way would be to think with every loosing trade you are closer to a profitable trade and you have seen off loosing trade successfully.
One more way would be to make a list of things you are grateful for . Call it a Gratitude list for which you are thankful.

Summary:
3 Skills
Technical Skill (Which bus to take)
Focus (avoids mistakes Action)
Gratitude (Avoids mistake post Action).
Simple but trust me not easy to practice...




Saturday, 13 August 2016

Bi Weekly Analysis



Did 2 Mistakes one with Exit and 2nd with personal Management
Exit : Didn't Exit at 2nd Push failure, was in hoping state that this trade will go.
Stress: Missed a Major move that day. (soon after announcement). To be honest was bit frustrated.

I have return a post on Understanding the System Just to add to that
This system Expects you to be part Human / Part Machine :).
Human to get the feel
Machine for Execution. One has to do the Juggling act perfectly :).

If you look at both the errors both where psychological. 
1>Exit was Greed
2>Stress was Fear (Fear of missing another good Trade). What is funny is I was not ready to accept this even at the end of that day. Only on Second review I can Personally accept my mistake.

Goal for coming weak:
I have been working on these weakness for Quite some time. They have reduced substantial but they still exit. I know it is human to repeat mistake will not beat my self on this.
Will be aware of situations under which these psychological issue creep up.
Situation 1 When a big move is missed.
Situation 2 When Greed is playing out.
All I want to do is be aware of this nothing much. If we force too much it will backfire.



OK with Win rate and R:R ratio of > 2. That means Quality of my trades are good.
Not taking bad quality Trade.

Technical Issues:
Technically looks Like BPB is my weak area will improve on that in coming week.



Direct BO

Hi Sourish hope this answers your question:

Lets Understand Dynamics of BO.
Consider Long BO trade
1> First and Foremost you need exits / Stop loss Trigger
2> New Traders to fuel in the move.

Point 2 is not possible to predict but if you can predict Point 1 then you can enter Trade early and scratch if new participation is not found.

So lets focus on Point 1 (Stop loss Trigger).
Stop loss Trigger can happen 2 condition
1> Lot of consolidation has happened 1-2 hours, which has create SL order on top and bottom of the range.. Eventually one of the side will give up.
If this is the case always access the Trend and go with the Trend never take counter Trend BO.
You can also watch how the PA unfolds in the channel which gives clues
like A ascending Triangle / BOF at the other range extreme

2> PP setup near Prominent DP (MSP). Also here Stick with Trend.
Remember PP setups are very common at FAG end of the Day. Where it is BOF of DL and PP near MSP Most of the time. Like the one on 11-Aug.

3> If you are Attempting reversal Trades (Earlier post Against Trend) some time they give a PP setup after BOF.

Always take BO with Trend, Attempt BO(PP) at FAG end of the day(reversal).

Summary:
BO Consolidation With Trend
BO PP Setup With Trend / Ranging (BOF,PP) Usually near DL/PDL
BO PP Setup Reversal (CM, BOF, PP) At DL.

Rest ignore...

PS: if you are learning the system Just stick with BOF you will understand Nuances of BO with Time.

Very sleepy feel free to ask if you need more clarity will add further. Such topic you can keep going for pages.