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)

Nifty : 27 - Jun - 2018 (+44)

Bank Nifty : 26 - Jun - 2018 (+8)

Trading Top Gainer/Looser Stocks to catch early morning momentum

Why we think trading Top Gainer/Loser is wise idea?

ü  Our observation for top gainer/loser… Big players take position which they want to move up as soon as market opens… they mostly buy pre-open which result gaps.

ü  Overnight News may attract lot of order flow during open.

ü  Range bound for last N days... breakthrough in form of Gap or fast move in first 10-15 minutes generally & continue gradual trending move henceforth.. If momentum keeps going.

ü  Sometimes we get counter trend gap up for stocks in downtrend in higher time frame... with counter trend gap’s we can expect short covering intraday… (Or) if such gap is to TRAP intraday players, my observation is that even though they opened counter trend gap, they tend to move in direction of higher time frame quickly. In that case our trade won’t get triggered.

From month of MAY, he started trading in stocks with 10% of capital. It going very well.

Let me summarize the process.

Steps:

1.       Add nifty50 stocks as watch list

2.       At 9:16, Sort by High to low and make a note of top 5 stocks,, similarly note top 5 looser

3.       Quickly open all 10 charts

4.       Go through one by one... if Nifty seems in Uptrend,, look at top 5 gainer charts first

5.       Filter stocks which satisfying any of condition

·         Stock broke out of range formed over last 3 or >3 days

·         Stock which is in down trend and today opened gap up, if gapped above PDH much better

·         Stock which is in downtrend and got quick rejection from PDL or any higher time frame support during open time

·         Stock which is in good uptrend and currently trading above PDH

·         News driven gap move -- coupling with any of above condition

6.       Decide position sizing based on risk involved in trade

7.       Pick short candidates in similar fashion as described in step 5

Refer below post for visual idea

http://onlyniftyy.blogspot.in/2017/11/high-probability-long-signal-example.html

Basically we are using same PA concepts what learnt from SMART TRADER.

Selection of right stocks to monitor at right time and with right mindset is the KEY here.

That selection we achieved by Sorting NIFTY stocks at opening time & mindset to decide which one has potential to move in trending direction,, which one may not move is something we applying based on learning’s from Nifty Nirvana & own experience of judging PA.

Below is the statement i would like to share (just to inspire DP Traders that we can trade stocks as well successfully with DP method).

 I generally don't like MTM showoff, as that is the way majority of fake people do fishing. i am making an exception today.

We will continue trading stocks with increased quantity for every 2 weeks of GREEN MTM.

Till today traded with 10% of capital only. From monday going to trade with 20% of capital as we got 2 weeks of green mtm. I hope this momentum gets going as we SCALE UP :)

Successful stock trading in early morning keeps you motivating for rest of day and also you will be fit physiologically to skip not so good setups in Nifty/Bank Nifty. One Shot Two Birds!

Nifty : 22 - Jun - 2018 (+136)

***************************    Century Day     ***********************

Nifty : 21 - Jun - 2018 (+11)

Today i traded in BNF as price action is good.
Also started documenting pre market view and market commentary in Microsoft one note, instead of note pad.. trying to keep things better organized.

Nifty : 19 - Jun - 2018 (-5)

After yesterday's inside day.. nifty gapped down below PDL. Expected today could be trending day as global markets also weak. Waited till 10730 level broke, earlier support.

Went short as BPB of IRH with half quantity..but price quickly bounced back after rejecting in pinbar formation. Scratched the trade with 8 point loss.

Later price moved down and stayed down chopping up and down.
Waited for short entry in zone of 10730-10735. It came around 3 PM, too late.

Nifty : 15 - Jun - 2018 (+42)

Yesterday NF closed below PDL,, after grinding up move in recent days.. and today gap down. Had bearish bias at open.

First bar attracted buying, turned neutral and waited for price to reach PDH/IRL for any clude.

Price moved in HH-HL formation till PDH, but it got rejected at PDH immediately. BN not supporting up move. Took short as BOF of PDH.

NF broke DL, PDL swiftly.

Thought of adding more shorts in zone of 10760-10770 zone with trial SL 10782.

But price got accepted and hit trial sl at 10782.

No further trades.

Nifty : 14 - Jun - 2018 (+1)

Expected trending move after gap down below PDL, after fed news announcement.

But first bar indicated buying pressure, waited for price to reach PDL.

NF didn't moved till PDL but broke down side IRL. BRN just 6 points away.

Entered short below BRN at 10795, covered at 10793 when it failed to move more

Waited for PA at DH/PDL.. prices reached there almost around 3 PM, very late. No further trades.

Nifty : 12 - Jun - 2018 (-12)

NF opened with in yesterday range, after BOF of PDC.. there was good signal to attempt long as BO of IRH with SL below BRN (2 layer support).. it moved well. NF formed upper range near to PDH. Took direct BO long above PDH with SL below higher range high... after couple of GREEN candles above PDH.. it reversed swiftly. Missed to reverse the trade. Later it moved in kind of channel. No further trades.

Nifty : 11 - Jun - 2018 (-3)

After consolidating day, NF gapped up above PDH and moved fast till BRN 10800. Skipped attempting BO above BRN as 10814 is very near, earlier swing high. After breaking 10814 level, NF not sustained and started ranging. Range formed 10800-10820. Took BPB of RH long,, but scratched it as it failing to move as expected. Also BN struggling to move beyond DH at same time.

Later NF broke down into lower range and chopped around. Not comfortable with then PA, no other trades.

Nifty : 07 - Jun - 2018 (+12)

Nifty showed strength after RBI news event yesterday and Today gapped up above PDH. Bias bullish. Also IR formed above earlier resistance levels. Went long above IRH with half quantity (risk more than 25 points). NF moved upwards in slow manner. Exited when it strongly rejected from 10800 level & on BOF pattern completion. No other trade.

Note: Pointed mentioned in blog post title are calculated on 10 lots quantity, for easy computation purpose.