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T For Trading

  #651 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
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Trading: NiftyFuture
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17-Jan-2013


Took a short trade that scratched for BE.

I could not recognize it well from opening , and my action turned like swimming against the stream. I had only advantage of higher selling price...otherwise with regular momentum entry a loss was sure. As long as i was in trade i never felt that im against the undercurrent , reason for this , i was seeing this as limited activity day between two demand/supply zone marked. From my regular approach i had to think for long after Creek bar and as long as it was floating above 5Day VWAP....though i scratched it onec i get nod that its not going to work. What happened after that is even more surprising and roller coaster....i cant say if it was due to some news or something else... ?






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  #652 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
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Short @ 6049 for test of low. Risk up to 6062


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  #653 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
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reduced stop to 6054


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  #654 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
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Trading: NiftyFuture
Posts: 1,562 since Feb 2010
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very fast...stoped out


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  #655 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
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Trading: NiftyFuture
Posts: 1,562 since Feb 2010
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I wanted to reduce this assymetric risk-reward trade...but didnt worked as expected.


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  #656 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: Z
Trading: NiftyFuture
Posts: 1,562 since Feb 2010
Thanks Given: 1,513
Thanks Received: 1,701

why NF hit my stop....


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  #657 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: Z
Trading: NiftyFuture
Posts: 1,562 since Feb 2010
Thanks Given: 1,513
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Though i could not manage short effectively, but there were couple of other reason behind that..and one was very abstract and sometime i do overweight them intuitively.

Apart from breakdown and creek , at the location/time of my entry TPO developing value was clearly non-overlapping with previous session. Even both current price and previous day price being from different expiry on my chart ( 31-Jan prices were jan expiry and 1-Feb are Feb expiry ) i was still intuitively confident of "Value" parallel finally and that would have been possible only by developing further below VWAP.









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  #658 (permalink)
 
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 devdas 
Al,India
 
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I see possibility of Long with some nested 4 step.


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  #659 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
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Trading: NiftyFuture
Posts: 1,562 since Feb 2010
Thanks Given: 1,513
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I have to use larger stop of 20 points at this location in long...and reward will be day's high back. waiting for more unfolding...or will stay flat.


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  #660 (permalink)
 
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 devdas 
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: Z
Trading: NiftyFuture
Posts: 1,562 since Feb 2010
Thanks Given: 1,513
Thanks Received: 1,701


Took long @ 6034 with 20 point stop zone.


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