Learn and Earn from "DP System + Renko" - Course full details

You can find full details from below link.

https://docs.google.com/document/d/1QCO6y9Qbe3qr8G9BWSzLCiOX9iAxn7uTSN5Of5eH8j0/edit?usp=drivesdk

Renko + DP System -- Test Successful

I am happy to share the efforts to explore different Renko, paper trades, trades with 1 lot in testing phase from last 10 days did good result. Not counting the gain in terms of points, but the way i am playing in this highly volatile market hinting me that my decision of replacing candlestick with mean renko charts is good idea :)

Today able to make 255 points in BNF despite of huge volatility.. In-fact last trade i covered in panic and missed easy 100 points.

Nevertheless, i will continue trading with 1 lot (some times adding second lot if i am willing to risk some gain made) till month end and then follow my SCALE UP plan.. not in a hurry to move to 10 lots directly. Need to go systematically to break the resistance of 10 LOT SIZE which i am unable to do almost since 2 years!

Below are 3 trades executed in BNF.
Also i am sharing these trades in Twitter, you can follow @Only_Nifty for academic purpose.

I wont be documenting trades in blogs everyday, as i am moving for another way to maintain trade journal. Exploring better way for that also.

Trading Renko Charts from Today -- part of experiment phase till this month end

After testing RENKO charts (with wicks) for few days.. started trading with 1 lot from today. I will be trading with 1 lot till this month end.

Missed direct BO of PDL in BNF as i was away.
Nevertheless,, happy that experimental phase started with GREEN :)

Taking a break from ACTIVE trading for a month time

Taking a break from ACTIVE trading for a month time & will be doing some experiments.

1. Stay away from all social media during market hours i.e. Discord, Twitter, Watsapp etc.

2. Trade in BNF only (inspiring from twitter stalwarts) 

3. Reducing lot size to 1 from 10.. in my early days of DP trading i used to score very well.. 300-400 monthly.. couple of days back i prepared a simple excel to track points earned month wise and some parameters. Avg gain coming around 144 (so far for 2018). As i said before this is an experiment on myself how i do if i reduce position size drastically and give free hand. Based on results i have few plans to prepare a SCALE UP plan. 

Below is draft version of trade journal.

4. Trade in morning session (9:15 - 11 AM) & (2 - 3 PM) only.. unless a position running through out day on trend day.

5. Test my patience levels in not deviating to stocks,, specially at morning hours. Index trades are my strength.

6. One thing i am not doing well from long time is,, having a proper trade journal. need to explore more on it. I may decide to STOP using blog to document daily trades and restrict to share any good concepts learnt.

7. Spend some time to back test few of PA TRADING SYSTEMS on BNF (after market hours)

8. One thing i missed to explore properly in last time BREAK TIME is,, RENKO CHARTS. Will explore in this aspect and how i can utilize RENKO instead of candlesticks in future. I don't think i can scale up well by sticking to candlesticks for longer time. Its been a long time i struck with 10 lots for longer time. Though EOM results are looking good, lot of confusion and struggle happening during live market. I am hoping RENKO chart/system will solve this physiological burden to me. Idea here is to stay away from sideways range and trade trends alone.


Happy Trading!

NF & BNF : 29 - Aug - 2018 (-8)

Nifty
-----

Opened with in yeterday's narrow range and rejected at PDH
seeing pinbar rejection at DL took long with 5 lots
scratched with loss of 6 points as it failed move and reversing swiftly

Bank Nifty

----------

After trading in small range it broke DH near fagend

Took 5 lots of BNF as BO of DH with 30 points SL initially

Exited with loss of 20 points

Points earned (adjusted to 10 nifty lots) : -8

BNF : 27 - Aug - 2018 (+25)

After friday's fall.. there is no follow up wekaness at open
BNF opened gapup and making DO as DL moved till PDH swiftly
took BPB of PDH long with 8 lots.
though it moved up,, very slow move
trailed and exited with gain of 60 points


Points earned (adjusted to 10 nifty lots) : +25

NF & BNF : 24 - Aug- 2018 (-12)

NF opened with in PDR,, moved up from open .. resisted at 11605 level (pre market resistance line)
couldn't catch down move as my bias is upside at that point
took short at 11549 (10 lots) as direct BO below 2 day low
Stopped out with loss of 8 points
Will wait for PA at DH now


Points earned (adjusted to 10 nifty lots) : -9

BNF opened below PDL and quickly moved upside
later it reversed in same speed
direct BO below DL is good attempt, but i hesitated and took short as BPB of then DL
over managed and exited with 10 point loss.. (reason.. BNF stopped exactly after filling gap created on 17th Aug)
but this moved later well.
Will wait for PA in zone of 27825-35 or around PDL now




Pointes earned (adjusted to 10 nifty lots) : -3

BNF : 23 - Aug - 2018 (+9)

BNF opened with in PDR and sold off prom open
there was good signal go direct BO below PDL, i missed it
later it went into consolidation for 3 hours
took short with 5 lots on break of then DL
thought of adding more after BPB,, but seeing price again forming range,, avoided
Exited with gain of 34 points


Pointes earned  (adjusted to nifty 10 lots) : +9

BNF : 21 - Aug - 2018 (+5)

BNF opened with in yesterday range sharp fall at open time
waited for PA at PDL
it broke, but failed to go below BO bar low
for long time Break down bar acted as MC
went long with 5 lots once price accepted above 28225.
Expected good short covering above MSP.
which not happened,, exited trade with trial sl.


Points earned (adjusted to 10 nifty lots) : +5

NF : 20 - Aug - 2018 (+4)

NF opened above PDH (also ATH).. sentiment positive
But didn't chance to enter as move is quick & i am trading stock trades at that time.
it made a resistance at 11560 for longer time.
When it broke successfully, took long at 11565 with Initial SL 11558
No much momentum move happened.
Trial SL hit around 11569.80,, exited.

Points earned : +4

BNF : 17 - Aug - 2018 (+21)

Traded in BNF.

Gapup open with in PDR and quickly broke PDH
Entered above IRH BPB of PDH at 28090, 6 lots
From then BNF traded in 80 point range till 2:30 PM
Added 6 more lots once DH broken,, at 28172
Average price came to 26131.
Exited at 28165 as BO not sustained.


Points gained (adjusted to 10 nifty lots) : +21

NF & BNF : 16 - Aug - 2018 (+5)

Traded both in NF and BNF,, took longs on break of IRH.. but momentum didn't continued.

Waited for PA at lower extreme. BOF of PDL pattern in NF came, but very late.. skipped.

BNF : 09 - Aug - 2018 (+0)

Traded in BNF today as PA is good compared to NF

DO above PDH and first 3M candle acted as MC
went long above IRH directly with 5 lots; it moved well for some time and trial sl hit. gained 32 points.

Later it moved in small narrow range. waited for decisive BO, which happened around 2:30 with BULL candle. but trade failed. exited with loss of  26 points


Points earned (profit / 10 nifty lots) : +0

Nifty : 08 - Aug - 2018 (+15)

NF opened with in yesterday range; after some slide price moving towards IRH strongly with HH--LL formation, went long with 4 lots as direct BO (BN broke PDH same time swiftly)

Moved swiftly above PDH; didnt get chance to enter as BPB

later it pulled back till PDH and gave opportunity to add position with low risk, added 4 more lots at 11450. i was expecting trend day.

average price 11441.

but while making new high's price not sustaining well. exited at 11464 with gain of 23 points.

Attempted direct BO short below MSP with 4 lots but scratched with loss of 8 points


Points earned (profit / 10 nifty lots) : +15

BNF : 03 - Aug - 2018 (+129)

Nifty : 31 - Jul - 2018 (+13)

NF gapped down and unable to break IRH (also DO)
when it seems sustaining below IRL took short with half quantity, but immediately scratched as it prooves to be wrong entry by next bar itself

later waited for PA at PDL or DH. towards fagend it broke DH.

Took half quantity longs as BO of DH and remaining half as BPB of PDH
Average price 11345 and exited at 11365

BNF : 27 - Jul - 2018 (-6)

Today is surprising day for me, on the uptrend day i traded 2 longs still ended in RED.

Gap up in NF and BNF, traded in BNF today.
took BPB of PDH long with 5 lots, but prolonged sideways move with muted volumes makes me to loose focus. moved SL to cost price and exited.

later at fagend by 3PM, it broke out. took 5 lots expecting short covering take place and also banknifty not matching to nifty move. this also failed.

Ponts earned : -6  (adjusted to 10 nifty lots)

NF & BNF : 26 - Jul - 2018 (+30)

Mixed day today. Tired of changing stances, hence closing the day early as i getting into unnecessary trades.

Was having bullish bias at open but seeing pinbar with BOF setup went short in NF.
Scratched it once it turned out to be failure signal.
Later went long in BNF as BPB of PDH and added more lots when it broke 27234 (earlier peak)
average price 27199. exited at 27278.
attempted short in NF as BPB of 11160 which acted as support multiple times.
scratched this trade as well.

Pointed earned in NF (averaged to 10 lots) : -11
Pointed earned in BNF (averaged to NF 10 lots) : +41

Nifty : 24 - Jul - 2018 (-2)

Nifty : 23 - Jul - 2018 (+13)

NF opened with in PDR and moved above PDH quickly. GST and no confidence result gave a positive boost in morning session. Waited for low risk entry near PDH later, but price made BW. Took long as BPB of RH with half quantity as 11073 level (8 days RH) is just away. Thought of adding more later but seeing BNF not supporting move, trialed same position and exited with 26 point gain.

BNF : 17 - July - 2018 (+127)

Today is good example of "Pyramiding Profits"
Traded in BNF as PA looks good to me compared to NF.

After yesterday's down move, there is no follow up at open time. BNF strongly moved upside at open, making bias neutral. Later it consolidated for nearly 4 hours and gave BO upside, turning bias to Up.

Took 8 lots as risk is 30 points. Why 8 lots?
Long triggered at 26890 as BPB of RH with Initial SL 26860
1% of capital = 10K.
Quantity to Trade  = (Risk per trade / SL) ==> 10000/30 ==> 333 is quantity
333 / 40 (BNF lot size) ==> 8.

Hence took 8 lots of BNF

It moved well and gave BPB of PDH setup. here i added 8 more lots and average price came to 26937. Moved SL to 26947, immediately after adding more lots. Now either BNF reduce my profit by hit SL Or i will ride if short covering gonna happen. This is what i am calling PYRAMIDING PROFITS. One must do it when price read telling us chances of winning is more.

It moved well,, exited at 27086 with gain of 149 points.
Translating overall gain into nifty 10 lots,, it comes to 127 points.

Nifty : 14 - Jul - 2018 (-7)

Nifty : 12 - Jul - 2018 (+14)

As usual NF gapped above PDH and broke Big BRN 11000 at open,, went long at 11020 as BPB with half quantity. Exited at 11049. No further trades.

Nifty : 06 - Jul - 2018 (-10)

Bank Nifty : 05 - Jul - 2018 (-8)

NF & BNF : 04 - Jul - 2018 (+19)

NF & BNF : 03 - Jul - 2018 (-18)

BNF : 02 - Jul - 2018 (+21)

A place for better interaction for PA/DP Traders

Hi All,

Off late i am getting messages in old posts like below.




I am saddened to see few people still struggling to achieve success with DP system.

Though reasons could be very different from person to person, maximum help i can offer is having a platform for interacting better.

I have joined one discord group and been active when ever i get time.
If any DP trader wanted to be watch how a group of DP traders are reading and taking trades.. i suggest to join "StocksOnFire" discord group using below invite link.

https://discord.gg/bj8k9H

Make a note of below before you join.

1. DP trading is a discretionary system,, every one reads chart differently and trade very differently. So, if you are a kind of person who get distracted with other views.. strictly don't join in LIVE market.. one can read comments after market hours but.

2. I do share good info for PA concepts, links, blogs, AFL's.. and getting them pinned under "Price Action Trading" group.. i am sure you will find them useful.. also i wanted to get insights from other silent DP traders,, if they learned some new thing which adds value to DP system etc.. its fun to have a group of like thinking people around (preferably after market hours or weekends we can be active in discussions)

3. From a week time, i started having a written pre market plan with levels and expected actions during the day... i will try to post before market open.. people can view and take cues if it helps.
But as i said already, if you are a person who get distracted with other views.. strictly don't join.

4. Above discord group i mentioned having lot of other section of traders.. like scalpers, positional, system traders, algo etc... lot of info.

5. If personally some one wanted to take my suggestions or assisting in where they facing failure,, i am happy to offer helping hand.. we can interact there through direct messages.


C u there.. hope to interact with SILENT DP Traders :)

Nifty : 29 - Jun - 2018 (-9)

Nifty : 28 - Jun - 2018 (+51)