I hv affinity to 5691...but not this time as i hv got my stop lvl defined.

Got out at 5687.

though i expected atleast 5683 and then 5-Day DVAL...but its showing resilience to go down further right at the moment.

23-Oct-2012 : Any type of zig-zag slow trending condition mostly dont suit me. I put them in poor facilitation category. And this was exactly nature of my execution 3-min chart. Apart from this i had some tic-tac-toe situation over SP and i was considering both as possible..this had to be one only, but somehow it was not on my sense. So finally i decide to go with last choice - go with MA trend on 15-min. I honestly expected market to go up from Red Arrow marked, but also was aware that if it had to do that then it will show its way that way.

First Short didnt worked, i waited for some MAE bars, but one relatively large bull bar in that location forced me to exit.
Second was with better condition and confidence. I waited properly for break down.

I was not in mood to trade on this expiry day. Suppose if i track 5 things, so out of these 3 were neutral and 2 were in support of this breakout, so not bothering much about why and how, i am holding a long since 5703, and most it will turn like failure so stop is 5694, may exit prior to that but less likely. Exit is my target point or from structure.

Reasons are still valid....still holding with stop slightly raised @ 5698.

Exited @ 5709. No more time to extend and wait.

25-Oct-2012 : Dragon Day, i was lucky to came out unscratched.
I expected a trending mode, but as soon as point A and B appeared, i realize i am probably stuck in another higher congestion zone , just like one it had breakout...and it gone even poorer in second half.

Extrapolating for fun. Nearing completion and overbuilding. One more day with b-shape add may not be ruled out.

26-Oct-2012 : Dragon Day 2. I took 3 trades and got nett loss of 17 Points.


Over past 2-3 day, activities were slow due to mid week festival and Thursday being expiry of October contracts. Traders have different mood and methodologies towards these kind of day based on past experiences. Being on constant evolution process of my trading plan, i could not find any excuse to avoid trading this Friday , when i had already traded Thursday ( expiry day being considered worst day to trade ). Really market has not changed any thing much compared to Thursday. One good thing i feel, has grown in my view , i have become less bias oriented - i will see if this is the case when market turns again little trending on daily basis than current balance zone. Might be subconsciously i have got hook of one day being down, next day up...and so on repeating.

Coming to these trades. Let me first clear if the day still seen as not tradable by some traders - I was seeing everything according to my methodology , my same approach. Though noisy on 3-Min, i tried to concentrate on 15-Min.
I lost due to my two mistakes. There should have been only one losing trade, but i made extra two mistake trades.

a) I am coming late much after opening - properly not following plan.

b) Appearance of Point A make it possible to think about day's starting theme being on Short side.

c) First Short trade taken , but micro-observing made me to take it out and re-enter just after one bar as Second trade. It was silly mistake , but just happened - a poor loss. Second trade loss was good loss, not perfect loss.

b) Second mistake was to take Long trade - it was dumb reasoned trade - i thought Shorts are not working , may be undercurrent has turned to Long side. Success of this Long , could be justified on least parameter from my methodology.


Overall a good experience day, i have to compare this day with some days in past, will add more value to my trading.