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Wednesday, 1 October 2014

01102014


Nifty opened near PDC and went above BRN, then it traded in a narrow range for some time.Nifty made a downward channel like move till 1:00 pm.There were no good signal till it broke the BRN
1). Short on BOF of BRN(when it failed to sustain above previous day closing rang), entered at 7996, SL above 8008, TP near EOD at 7982.+14 points.

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7 comments:

  1. trading noobOctober 01, 2014 11:02 pm

    Happy Holidays!

    I have a question... How long it took you to current level of execution perfection?

    I am planning to start trading with real money soon. I would like to hear some guidelines and would like to know
    how long it would take to become a successful trader like you!

    ReplyDelete
    Replies
    1. VKMOctober 02, 2014 9:11 am

      Hi trading noob

      Thanks

      It may take different times for different people,it depends on many factors like previous trading experience, trader's commitment to learn new things, trader's psychology or personality etc.
      I am trading since 2008, and this method from March 2014, but before start trading this method i have read all the posts and material of ST's blog and learned the concepts to make the method my own, then paper traded for few months to gain screen experience and to find right trade location and setup, then start live trading with minimum quantity to get execution consistency and still learning.

      If you are planning to trade this method then please go through niftynirvana blog and read all the important posts and comments to learn the basic concepts and watch the live market for some time to find out right trades, then start live trading with single lot so that damage would be minimum if it happens.Initially dont think about profits, only try to keep the losses at minimum.
      It may take six months to one year to get consistent results.

      VKM

      Delete
    2. trading noobOctober 02, 2014 11:35 am

      VKM,

      Thanks for guidelines and pointers. Am going through niftynirvana blog (and few more linked blogs) too.

      Thanks for all of you PA Traders, for sharing your learnings and methods generously!
      This is of tremendous help to new traders (atleast to reduce the losses during learning)!

      Enjoy your long week end!

      Delete
  2. ArvindOctober 03, 2014 11:15 am

    VKM,
    Who is your data provider. What are the charges?
    Do you use a purchased version or Trial version of Amibroker ?

    Thanks in advance.
    Arvind.

    ReplyDelete
    Replies
    1. VKMOctober 03, 2014 1:03 pm

      I use a simple utility created by a TJ member Josh1,which fetch data from Trading terminal and put it into Amibroker and i think this data is as good as purchased data at least for a single instrument(Nifty Future) trader.
      Ami Trial version is good enough for a BPL(and Nifty only) trader.

      VKM

      Delete
  3. veerOctober 14, 2014 5:38 pm

    Dear VKM

    No charts now a days ?

    Regards,

    Veer

    ReplyDelete
  4. VKMOctober 19, 2014 4:28 pm

    Busy with some family commitments, will back to trading soon..

    VKM

    ReplyDelete

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