Nifty 2017

[Tuna]

Taking a chapter from TD's style: Price action for RBI event today:

Almost same, isn't it. But why I did not put the reverse of this (Up and Down) from TD's chapter - cause my weekly analysis painted a bullish picture (posted last weekend on this thread).

So the chances of a negative reaction to pull the price down on RBI verdict was there, followed with outright rejection of price was highly probable as well and market played that way.

Now the million dollars question - free gyan dena asan hey, if I had so much faith on my analysis, did I really trade this $hit.

Well I did and booked +35 pips on short and then took a long (which I did not close yet) which is up by close to +50 pips till now.

So same boring routine

Total Nifty Earning (only considering the closed trade as of now)

514.5 + 35 = 549.5 Since Jan (149.5 rolled over to March Z factor)

Nifty Winning Streak = 12 (not counting the open overnight trade yet)

Good Night Guys.

 

[Tuna]

Nifty Winning Streak = 13, March Z factor achieved by 9th of Feb and exceeded in fact. Details later.

 

[Tuna]

Booked first loss in Nifty of 16 pips, after a winning streak of 13.

So, did not manage to break my last streak record on Nifty. But anyways, there is always a next time.

All Monthly (Jan, Feb, March) targets stand still achieved. That's the best part. Detail (chart, order book) later.

 

[Tuna]

SoB !! Another 16 pips loss. All in Long. March Z factor again incomplete. BC, looks like losing streak started. Getting out of terminal for a break.

 

[Tuna]

Had a coffee (strong) break, finished my file-work peacefully (scolding myself for giving away most of the overnight profit) and then - oh ok, is it a double FA at PDL ?

Sclap Size X massive 32 points (it was scalp, I generally close in 16 pips !!) - Bloodbath Avenged !! Dear Bulls, thanks.

BTW, it was not a single lot game (this post), so I will not credit any of these to the scorecard.

And - I was Long , again (yeah, I am shameless in that regard to my bias, it is fixed on weekends based analysis).

 

[Tuna]

Had a coffee (strong) break, finished my file-work peacefully (scolding myself for giving away most of the overnight profit) and then - oh ok, is it a double FA at PDL ?

Sclap Size X massive 32 points (it was scalp, I generally close in 16 pips !!) - Bloodbath Avenged !! Dear Bulls, thanks.

BTW, it was not a single lot game (this post), so I will not credit any of these to the scorecard.

And - I was Long , again (yeah, I am shameless in that regard to my bias, it is fixed on weekends based analysis).

Holy Moly !!

Seems I was too early. But guys, when you have double digit lots and 32 pips in profit, it will really take a nerve of steel to hold it further. But I am sure there are people out there who managed to get full of this reversal from DL.

 

[Tuna]

Ok, so here is the wrap-up. The Trade # 2 which I maintained on my last night's post was closed with a decent profit at opening minute for +71 pips

Order to close the same

Later gave away 32 pips in 2 losses of 16 pips each. So net earning remains (71-32) = +39 pips. Was trying to get the retracement but got butchered both times.

Was third time lucky with the scalping of 32 pips more, but scalping score can not be added here on single lot thread.


Summery

Total = 549.5 + 39 = 588.5

So (200 - 188.5) = 11.5 to go to close March's target.

Winning streak was 13 before breaking it up with 2 back to back losses.

That's all I had on Nifty today. Good Night.

 

[Tuna]

Retailer's Mind Thinking:

1. Market is already up, it should be shorted
   
2. Today is Friday, typical day for profit booking as there was a weeklong uptrend
   
   
3. SGX is in green, but it will follow Nifty once we open

Pro Mind

1. Price follows path of least resistance, just like water flows through path of least resistance
   
2. Trend followers buy on uptrend and sell on downtrend. They buy higher and sell lower.
   
3. We are already above pWH and pDH
   
4. As long as Spot 8781 is not broken, bears and shorts will be up for more pain

Let see who wins. Market is a funny place, there are days when even the Pros fail, but those are limited. Will it be another day like that today?

And I am thinking, marne do salon ko. Got a decent profit throughout the week. Don't want to spoil it on Friday


Sent from my iPhone using Tapatalk

 

[manojborle]

http://www.traderji.com/words-wisdom/103474-best-trading-system.html#post1204873

 

[Tuna]

Just getting a hunch (going by end of 1st session ) - we are on for a massive slide in either way, lots of money to be made on Nifty today.

In the morning I decided not to trade, but if I get something which is matching my pattern (that I trade e.g - Bitchy Barbie, Double Whammy, Spider Crush etc), I may take a plunge.

Oh Dear market, why are you so seducing !!

Or Maybe I am a moron who can not step aside and let a day pass peacefully.

P.S- Only problem - there is not enough delta between the bid and ask. We need a good amount of looser on a day trade to let the snowballing effect happen. All playing safe. Maybe burnt their finger early this week while shorting and blowing their a/c.