FNO Trading
- Thread starter pasupathy
- Start date
Hi Pasupathy,
I was almost on the verge of declaring to myself that I have broken the 'Pasupathy Code' !
But, the chart of BankNifty (of 22/03/2018) has made me to narrow my eyes in puzzlement, on the way you traded it
(successfully)!
As per the chart, it was the 20th (5M candle) and you shorted it @ 24343.
So far, what have I understood, it was not the place to take a trade. It is not your style of trading (until and unless, you have started
to follow some MA Crossover, like 3 n 8 or 5 n 13 etc. Yes! I concede that a crossover did take place at the time).
Whereas, had you taken the trade @24323, I would have recognized it instantly as your style of trade ! And still the target would
have been achieved.
But, then the chart tells altogether a different story of your successful trade. Congrats.!
It also shows that I ought to learn a little more to read your charts!
It is just my two cents of foolish wisdom. I wish you well.
I too did not trade today.
Happy trading.
Vijay
I was almost on the verge of declaring to myself that I have broken the 'Pasupathy Code' !
But, the chart of BankNifty (of 22/03/2018) has made me to narrow my eyes in puzzlement, on the way you traded it
(successfully)!As per the chart, it was the 20th (5M candle) and you shorted it @ 24343.
So far, what have I understood, it was not the place to take a trade. It is not your style of trading (until and unless, you have started
to follow some MA Crossover, like 3 n 8 or 5 n 13 etc. Yes! I concede that a crossover did take place at the time).
Whereas, had you taken the trade @24323, I would have recognized it instantly as your style of trade ! And still the target would
have been achieved.
But, then the chart tells altogether a different story of your successful trade. Congrats.!
It also shows that I ought to learn a little more to read your charts!
It is just my two cents of foolish wisdom. I wish you well.
I too did not trade today.
Happy trading.
Vijay
Any Wise, Intelligent, or atleast a person with basic common sense will avoid trading today.
Its doesn't apply to all as I know a lot of people will call me a fool to say this .. and still trade today.
I will avoid the markets today. I am just cautious and have some common sense. EVERY DAY IS NOT A TRADING DAY.
Will take a long weekend ..
Bye Friends
Cheers
Its doesn't apply to all as I know a lot of people will call me a fool to say this .. and still trade today.
I will avoid the markets today. I am just cautious and have some common sense. EVERY DAY IS NOT A TRADING DAY.
Will take a long weekend ..
Bye Friends
Cheers
Hi MSN1979,
Though the question has been seemingly put to Mr. Pasupathy,
yet, I feel like to answer it with a little bit of history.
Well, coming to the point, you feel since Nifty is at important Support levels or too much difference in Gap Down made me to abstain
from trading (I can vouch only for myself),
Yes! that is too much difference in Gap Down along with the news of Mr. Trump's and China trade-war. Those things just leave an
uneasy feeling in the stomach. (Of course, it also shows that I left too much on the table, when there was a chance to make it good).
But friend, I was afraid that perhaps the past history is getting ready to unfold its pages!
Let me tell you that I was also a mute spectator of 22nd Jan. 2008 fiasco.....When the trading was stopped for half an hour on the
Indian Stock Exchanges....and also the famous downfall of 'Lehman Brothers' of America! That day had almost wiped me out to the extent
that I could not gather courage to dabble in the market for the next 30 months!
So, the lesson is when the Tide turns down, it sways everything back along with it....All the rules get bogged down.....
Of course, I don't mean to leave you with an uncomfortable feeling. Just be cautious. Be prepared to see the Nifty at 9700 levels.
Oh, Yes! you can always short the market whenever the opportunity arises.
Our friend, Mr. Pasupathy is preparing us for that event with his brilliant trades!
I like to watch his charts.
Happy trading.
Vijay
Though the question has been seemingly put to Mr. Pasupathy,
yet, I feel like to answer it with a little bit of history.
Well, coming to the point, you feel since Nifty is at important Support levels or too much difference in Gap Down made me to abstain
from trading (I can vouch only for myself),
Yes! that is too much difference in Gap Down along with the news of Mr. Trump's and China trade-war. Those things just leave an
uneasy feeling in the stomach. (Of course, it also shows that I left too much on the table, when there was a chance to make it good).
But friend, I was afraid that perhaps the past history is getting ready to unfold its pages!
Let me tell you that I was also a mute spectator of 22nd Jan. 2008 fiasco.....When the trading was stopped for half an hour on the
Indian Stock Exchanges....and also the famous downfall of 'Lehman Brothers' of America! That day had almost wiped me out to the extent
that I could not gather courage to dabble in the market for the next 30 months!
So, the lesson is when the Tide turns down, it sways everything back along with it....All the rules get bogged down.....
Of course, I don't mean to leave you with an uncomfortable feeling. Just be cautious. Be prepared to see the Nifty at 9700 levels.
Oh, Yes! you can always short the market whenever the opportunity arises.
Our friend, Mr. Pasupathy is preparing us for that event with his brilliant trades!
I like to watch his charts.
Happy trading.
Vijay
Our friend, Mr. Pasupathy is preparing us for that event with his brilliant trades!
I like to watch his charts.
Happy trading.
Vijay[/QUOTE]
He he (Chukles) his fascination for shorts! Yea he likes to short! Although he clarified he doesn't. But I have not seen enough of his threads to comment on it yet!
I like to watch his charts.
Happy trading.
Vijay[/QUOTE]
He he (Chukles) his fascination for shorts! Yea he likes to short! Although he clarified he doesn't. But I have not seen enough of his threads to comment on it yet!
Thank you for clarifying your inputs. Just to clarify few more things.
Nifty On Daily /Weekly and Monthly In DT. Yesterdays gap down was in Line with Bigger Trend. Although yesterday did remain volatile as pashupathy expected ( I don't know how could one guess this, I am not experienced enough on this) if one is only to take decision based on charts. What would be the reason not to go short?
( I never watch news or CNN) So how would I guess after Gap down market would go volatile or crash?
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