Prices open within previous day range with gap up of 26 points. Taken Long on BPB of BRN. Trade didn't move well as prices failed to breach the ten high. Exited at Breakeven. Again went long when prices refused to go below the BRN BO master candle. Exited on the FTA.

Missed two good opportunities, one is BPB as marked as i was not much confident as prices earlier breached the BRN once.Second is BOF of day high. I was expectin the wea pull back of the BOF or atleast prices will try to breach the PDH one more time which did not happen and prices went down.

Monitoriing Nifty Spot

Hi All

From some days, i am monitoring the nifty spot index along with the nifty future chart and found it useful. By using this, as a begineer, i am able to avoid various low probability trades which will hit my account. Also on NS, we get various setups clearly which are not avaialble on nifty future chart.

I also read the Nifty Nirvana post regarding this. Link to post is:

http://niftynirvana.blogspot.in/2012/10/nifty-levels.html#comment-form

But in my view, monitoring nifty spot along with nifty future will gave me another edge as i will be able to avoid certain premature or low probability trades. For example, today NS has given a clear setup of BPB of PDC whereas on NF there was no such setup.

Although i need to walk a long to be a profitable trader. I have also noticed that by monitoring Nifty Spot, i am also taking less loosing trades.

Inspirational Video