It was a sideways to an up day today with a lot of the volatility we have so gotten used to, missing from the action today.
Ahead of the Policy decision on Thursday, the Bank Nifty chose to operate in a 100 point range for most of the day.
What do you do when the Market decides to settle in a range?
You trade the range.
Easier said that done, as you do not know what is around the corner.The range which you know of, can easily crack when you take the trade and in the Bank Nifty it can send you off by 100 points in an instant.
Thank fully for us in the trading room, we have Shai's orderflow charts.
I managed 275 points in 4 trades between 12 noon and 3.00 pm today, by just following the green pink rule. Green for buying and pink for selling
Take a look :
*First Trade : Short from 11605, reversed at 11550 for 55 points
*Second Trade : Long at 11550, reversed at 11609 for 59 points
*Third trade : short at 11609, reversed at 11551 again for 58 points
*Fourth trade : Long at 11551. exited at 11654 for 103 points.
There was a fifth trade at 11654, which could have brought me 11580, but which I did not take. Also 4 other signals were generated before 12.00 and two of them would have given you 100 points plus.
No need of any Technical Analysis. It has been built in. Just follow the signals from the charts.
As Shai says we are truly on the way of letting people know that you can make money in trading and you can "kick the habit of losing money in the markets".
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2 comments:
Hi,
There is no thick blue-red line on the chart and the Moving Average.
What SL discipline you follow
I have few more questions but one at a time.
I still love to see Nifty OF charts though.
Thank You
alphabet 1,
the blue-red line was taken off to emphasise the message.
It produced 4 good trades today.
There are no moving averages in any of our charts.
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