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The trend is UP, world markets are rallying as I write this. Traders should stay with the trend. I receive many comments which has questions that I want to answer. I hope I can devote more time for this effort. Meanwhile, ….
Conclusions based on wrong data
There is a comment by “vasukrishn” which is not published because it forms a conclusion based on incorrect data for first 15 minutes. So, please if you email me at sudarshansukhani@gmail.com, I will explain why your conclusion was wrong and what the correct data is.
How did I trade today (thursday) with the 15 minute Opening range breakout ?
Tushar asks:
At the time of posting it’s quite a choppy session.
You mentioned 15 minute rule.
Now for example – Nifty Apr Fut today : The low of 1st 15 minutes was 3374.
That broke on downside.Then did you short there?If yes, Then Where did you place your stoploss? else what was u r day trade today?
Tushar also says “I know it’s hard for u to answer all my questions on your blog. In that case please mail me on xxxx @ xxx ”
Tushar, If I can answer a question, I would like to do it on the blog so that everyone can share it. Now for my response. I need to explain a lot here, so please be patient. The 15 minute rule enables you to enter a trade after receiving confirmation that the trend is going in your direction. Now, you still have to decide the direction in which you wish to trade. Also, you do not have to trade every day. If you wish to take a trade in the morning, this rule helps you to stay on the right side of the market (hopefully!).
Today morning, I was away from my office on a half day leave for personal tasks. Thus I was not looking at trades. But, in my office, we run many automated trading systems for the Nifty. The 15 minute breakout is one such system. This system took a short position in the morning. The stop was above the high at 3400.60. Throughout the day, the market went on moving up and down, but the stop was not triggered. Finally at 3:20 PM the trade was closed at 3358 approx.