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Wednesday, 2 July 2014
02072014
Nifty opened gap up above PDH and BRN, pulled back to BRN and went up, initial range formed
1). Long above IRH at 7720, SL below 7713, TP at 7732. +12 points.
2). Long on BPB of (then) HOD at 7741, SL below 7733, TP around 7747. +6 points.
Hi, In the first trade, why did you take profit at 7732 (instead of trailing it little far below swing pivots or DP)? I also entered the first trade at 7722 (as BPB of IRH) and not on BO, and my SL got hit at 7728.
From 10:27 am, it was looking as vertical move with two small pauses (dozi), after looking at 10:45 am small dozi bar i put SL below previous bar low at 7732, thinking that it would hold but got hit. Also i was thinking to reenter at TST of IRH above small pivot at 11:30 am, but could not enter as NS BRN was nearby.
Ok. But in our experience, is it good to keep tight SL if the market had vertical move?
Also, I took the TST of IRH and entered at 7725 (11:25 AM) and exited this at 7747 (1:47 PM). That was also vertical move and I thought of keeping tight SL at 7552.
Yes, in vertical moves, it is good to keep SL 2 bar back (ie at the time of current bar close put SL below previous bar low). Your TST trade is very nice.But that was not a vertical move because there were some minor pivots in between so trailing below them is right.Your exit is also very good. vertical move = No nearby pivots
Hi, In the first trade, why did you take profit at 7732 (instead of trailing it little far below swing pivots or DP)? I also entered the first trade at 7722 (as BPB of IRH) and not on BO, and my SL got hit at 7728.
ReplyDeleteVikram
ReplyDeleteFrom 10:27 am, it was looking as vertical move with two small pauses (dozi), after looking at 10:45 am small dozi bar i put SL below previous bar low at 7732, thinking that it would hold but got hit.
Also i was thinking to reenter at TST of IRH above small pivot at 11:30 am, but could not enter as NS BRN was nearby.
VKM
Ok. But in our experience, is it good to keep tight SL if the market had vertical move?
DeleteAlso, I took the TST of IRH and entered at 7725 (11:25 AM) and exited this at 7747 (1:47 PM). That was also vertical move and I thought of keeping tight SL at 7552.
Yes, in vertical moves, it is good to keep SL 2 bar back (ie at the time of current bar close put SL below previous bar low).
DeleteYour TST trade is very nice.But that was not a vertical move because there were some minor pivots in between so trailing below them is right.Your exit is also very good.
vertical move = No nearby pivots
VKM