Trade1:
Short at 7794, below IRL.. as BPB of PDC with initial SL 7801
Moved SL to 7796, above high of IRL BO candle
Moved SL to 7783, above BO candle of PDL
Moved SL to 7775, above PDL.. once new low is made
Trail SL hit; exited trade with gain of 17 points
Trade2:
Long at 7774, as BPB of PDL.. with initial SL 7769 (below low of PDL BO candle)
Moved SL to 7772, below PDL
Moved SL to 7774, below low of MC
Moved SL to 7777, below pullback low.. break even
Trail SL hit; exited trade with gain of 1 point
Trade3:
Short at 7769, as BOF of PDL.. with initial SL 7775
SL hit; exited trade with loss of 8 points
Trade4:
Long at 7756, as BOF of BRN.. with initial SL 7748
Moved SL to 7758, break even
Trail SL hit; exited trade at cost
Trade5:
Short at 7745, as BOF of BRN & FTC PDL.. with initial SL 7752
Moved SL to 7747, break even
Moved SL to 7715, high of BRN BO candle
Moved SL to 7678, pull back high before breaking RN
Moved SL to 7661, above high of RN BO candle
Moved SL to 7652, above RN
Moved SL to 7640, above close of RN BO candle
Exited trade at 7628, with gain of 115 points
Points earned : +125
Hi Rose,
ReplyDelete1) I did not take the first trade where you took (BPB of BRN PDC) as I wanted NF to come out of consolidation range. So, finally, I took BPB of PDL at 7760 but the trade did not move and so I covered it at 7766 and went long as BOF of PDL and I covered it at 7776.
2) Then I took BO of DL at 7753 (1 PM) but I had to scratch it and covered it at 7753. I did not take BOF of DL as the momentum was down.
3) Then I took TST of PDL (same place where you covered long of your Trade 4) at 7761 and covered it at 7711 when the market seems to be stabilizing around 7700. Then market went into brief channel downside move and could not gather enough confidence to short again at 7781 as the market was already very down.
Overall a profitable day but still could not get the maximum juice out of such a nice trendy day.
I really like your way of trading. Generally, within first hour, it becomes almost evident if we are likely to have range day or trend day. On trend day, you take almost all the signals and keep your losses very low if the trade does not move. But if the trade moves, then you get the maximum juice out of it.... If you can provide some guideline, it shall be helpful
vikram,
Deletegood trades.. i was lucky enough in taking 5th trade today.. i was not confident, but took chance, seeing PDL is resisted multiple times.. it worked.. as u say, i trade most signal on trend days or event days.. we never know which turn "trade of the day" right :)
u missed last leg of fall from 7700 it seems.. there is BPB short. but SL is big.. risky one!
vikaram, I too observe rose's trade closely..His success lying mainly in keeping his loss very low and profit allow to run..It is not easy to achieve!!!!!!
DeleteIn your Trade 5, why did you not move SL from 7747 to 7723 and then to 7715 (minor swing highs) when NF seems to come back from BRN?
ReplyDeletevikram,
Deleteif you see my 2nd 4th trades.. both the trades come into some 20 points profit & immediate selling hitting my trial SL .. there is good volatility.. i suspect similar kind of volatility at BRN's n sell off's in 5th trade (which is with strong sell off trend now).. i thought better to sit with SL at break even.. it worked..
How do you control yourself when you see profit on the table? I start moving closer and closer as I see profit but I think you give time for the proper swing pivot formation once you are in profit...
Deletelet me tell you, my usual style.. i havent learned it any where.. i observed this pattern while doing paper trading initially.
DeleteFor example.. take today 1st trade..
DO is above PDC.. attempted to sclae above PDH.. failed to go further
IR formed.. Attempeted IRL BO, as BPB of PDH/PDC.. with initial SL as 7801.. i.e. 2 layer protection, PDC & BRN
Once a red candle formed below IRL... i shifted SL to high of BO candle
Similarly trial SL moved to PDL BO candle high
Similarly, i use pull back high/lows.. or swing levels etcc.. to trial.. i dont think we can come up with some rigid plan (or rules) that work all the time.. its all about different tacts we adopt as per market situation.
I dont see anything wrong in your approach.. just give more space for your trial SL.. when market trading below/above.. PDH/PDL..specially in event days.. u may see sharp pull backs, which eventually sold into... like today :)
Hello,
ReplyDeleteAre these real trades?
Too good to be true...
Yes, some times even i couldnt believe how good opportunities these DP's providing..
Deletei have no much emotional stress.. as i am trading 10% of my usual lot size... have to see how i can manage emotions, when trade with more lots.. lets see.. BTW why Anonymous.. please log with profile
Rose, By the way, when you increase lot size to 10 times your current size, do you think that the slippages will be much higher (3-4 points) and so would require little tweaking to the DP System?
ReplyDeleteI have traded same quantity with JNSAR... for more than an year.. unless some eventful days.. i don't see much slippage issue.
DeleteRose, Normally a BO trade is to be avoided. What all factors gave you the confidence to go for the IRL BO in trade 1?
ReplyDeleteSimilarily for trade 5, how did you identify the entry location? Thanks!
PA Trader,
DeleteTrade1:
BO of IRL is coming as BPB short of PDH/PDC
Also risk is 8 points.. with 2 layer protection.. i.e. PDC & BRN
First FTA is 25 point away.. enough space for me to move trial SL to break even.. in case trade reverse swiftly
These reasons are enough to attempt trade for me... Agree, most of BO trades didn't work.. but i see this trade as worth to take risk for above mentioned reasons
Trade 5:
FTC above PDL
Breaking down after event
For these two reasons, i thought of giving a try.. also risk is with in my limit.. 9 points (including brokerage)...
Rose Mary,
ReplyDeleteThanks for all your posts and your explanations !
With kind regards
Congratulations ,great trades
ReplyDeletethanks Joe, how is your trading going on..
DeleteI am never a consistent trader but following your post give me confidence and sure will learn from You and SP sir
Deletewhen price come to a DP ,u visualise a setup(BO,BOF,BPB,TST) (along with other factors) and place a SL order for which setup u want to go, once it triggered ur on , next step is to manage the trade. right?
ReplyDeletePerfect... also it is must to consider, intra day bias.. location.. range we are playing.. before placing orders..
DeleteHi Rose Mary,
ReplyDeleteNice trades. If you don't mind, please let me know which broker you are using and howmuch is cost per trade incurred in terms of points.
Regards,
KSG
Broker - RKSV
DeletePlan - http://rksv.in/pricing/dream-plan