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Monday, 8 September 2014

08092014


Nifty opened near PDH/RN and went above it
1). Long on BPB of PDH at 8158, SL at 8148, TP when second push failed at 8154. -4 points.
2). Nifty traded in a narrow range for few hours, long on break of Range High as PP at 8166, SL at 8158, TP near EOD at 8194. +18 points.

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6 comments:

  1. AnonymousSeptember 08, 2014 5:11 pm

    Hello,

    One thing that stands out in all your trades is your incredible execution accuracy and discipline.

    I have been struggling with execution accuracy and discipline for years, could you share how you manage execution accuracy and discipline? Don't you get bored and distracted at all for the entire trading day?
    Should one be glued to screen all day :( ? should the trading be partly automated?
    Can you show me some pointers to improve this part of my trading?

    Thanks.

    ReplyDelete
    Replies
    1. VKMSeptember 09, 2014 5:53 pm

      Dude
      It takes time to develop execution consistency.Currently my target is only to get execution consistency, so i dont think for profits, I try to take good trades and manage them well, if some trade does not move according to expectation then exit and wait for next good trade.
      Don't tempt to take each and every trade, try to take only good and high probability trade, even if it not workout then don't worry, market will be always there.Don't try to create opportunities, only wait for good opportunities.
      No need to stare at screen all day, do some walking, stretching, take long breathes in fresh air in between.It works for me to get rid of boredom.

      VKM

      Delete
  2. L.V.GandhiSeptember 08, 2014 8:30 pm

    In Second trade, you did not exit even after second push down below 14:06 candle. Normally I see you and ST exit after second push. Any reason for not exiting this time.

    ReplyDelete
    Replies
    1. VKMSeptember 09, 2014 6:03 pm

      LVG
      My TSL was below 13:57 candle (8167) at that time which was above BE, so i held it.

      VKM

      Delete
  3. SuMaSeptember 08, 2014 10:45 pm

    Hi VKM...
    Did you have any plan to go short below this bar.....
    http://tinypic.com/r/33bmnop/8

    ReplyDelete
    Replies
    1. VKMSeptember 09, 2014 6:18 pm

      TITZ
      No, there was my TSL for long trade, if that hit i would wait for BOF to go long again bcoz Nifty was in clear uptrend (ie above PDH and previous range high).
      But if if fall back in previous range then short can be taken according to price action there, as we trade acceptance and rejection of price at decision points.

      VKM

      Delete

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