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T For Trading
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Created: by devdas Attachments:799

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T For Trading

  #501 (permalink)
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I was present since opening and was aware of continuous price probe lower and staying below VWAP. There was a favorable instant of bars around time 9:27 AM and then 9:48 AM that lure me once to put Short, but there was little hesitation due to MIRZ and being 5 Day DVAL. Rather i was waiting for Long on pullback to larger MA on 15-min. Here come the natural thought from old experience if it had to go Long way then let it come above VWAP. Being state of hold i left the screen for some time for some work. On return it was just re-probing demand zone that gave me final confidence towards Short. I have attached some similar situations from past, not all they match exactly but theme of MIRZ is most obvious in all.

Today ( 20-Nov-2012 )

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18-Oct-2012 :

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16-Oct-2012 :

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10-Sep-2012 :

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27-Sep-2012 :

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  #502 (permalink)
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Though completed the day with two trades so far Short(-) , Long(+).
I still buy if get favorable location as per shown.

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  #503 (permalink)
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Out of 506 trading days since Jan-2011, only 29 days were of a specific type....and i will surprise if this day is 30th day

If this day fail to make new high then it will be 30th day of that type since Jan-2011.

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  #504 (permalink)
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21-Nov-2012 : At first Short i had feeling that it might not be good location either to initiate fresh short, but being synchronizing trades as per opening bias and 15-min chart trend, i could not deny from taking that. Honestly i do wanted to Long where i Shorted , but i have seriously grasped and experience that when i left trade to be proved wrong by market itself then only i could easily reverse without hesitation. Long worked like as shown and got good chunk of ADR[5] at that time.
Second Long, i could not wait more as it was already taken extending my session time, had to scratch nearly BE. I was more of tired of waiting and of poor facilitation mode of price had acquired after first hour run up.


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  #505 (permalink)
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In the event of broken Opening Bias....i decide to trade on momentum basis with reduced target expectations. Took total three trades - Long(+), Short(+) , Short(+).

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T For Trading-nifty_i-15-min-11_22_2012.png  
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  #506 (permalink)
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A good experience day. Turned from low confidence to high confidence. Took three trades, Short ( BE ), then low expectancy Long (-) that turn small loss and then finally big bang Short(+).


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  #507 (permalink)
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23 & 26 Nov - 2012 : Two days . . Some key similarities and dissimilarities...that's why my actions were also similar but still carrying some differences.

There is absence of 3rd trade today cause today's market was slow that didn't gave much time for 3rd.
Today's development was MIRZ on higher side while 23rd took MIRZ way on lower side.
23rd's pullback on larger MA was 3rd after MA cross, while today's pullback was first on larger MA.
Both day developed near 5-day DVAH.


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  #508 (permalink)
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It was the split second decision - would you believe in trend or not ?
If i didn't, then my mind could never align with this through out the session.
It was equally tough from noob perspective...even for many Market Profile follower,
It was always fruitful to leave myself on trend.

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Attached Thumbnails
T For Trading-nifty_i-15-min-11_27_2012.png   T For Trading-nifty_i-15-min-11_27_2012-fp.png   T For Trading-nifty_i-30-min-11_27_2012.png  
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  #509 (permalink)
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Rather to think about counter trend scalp...its better to wait for these demand lvl to test and for re-entry. First one is most achievable...and 2nd can be used as stop on re-entry long.

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T For Trading-nifty_i-3-min-11_27_2012.png  
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  #510 (permalink)
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Posts: 1,546 since Feb 2010
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27-Nov-2012 : Took only one trade, didn't get proper opportunity for second as per my view.
Most days like this have very similar pattern of developing and unfolding, that's why i was little leaned towards
VWAP test a bit for second opportunity.
Some might look in for Short opportunity given the day had stretched much in ADR[5] limits and i was seeing the creek bar marked "A", if i was to broke my patience then perhaps might have reacted at that. Rather i was not in mood to take any call from either side, i become little defensive as market was unfolding at very slow pace. This was also visible from footprints chart. I also discarded to re-entry long at creek bar marked "B". One reason for this resilience was, i had passed a phase of fast movement with huge delta built-up in morning trade, so delta volume of order 50K could not infuse any charm when had seen of order 300K+ . Everything was seen as natural consolidation and i had no time to wait for it to come out of this mode.


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