Day Trading Stocks & Futures

[travi]

Ye lo bhai, 9:17:40 pe 20550 shorted now just hanging 20 pts from there.
This is MFE.
Almost 12 pts slip, tgt entry was 60

Stopped out at 46, 4pt gain is BE Trade ( but minor 1pt loss in journal)
but if you see MFE, it was 30pt at one time.
Now will look to re-enter same level, long over 20570 somewhere

 

[aja]

MFE bole to?

 

[travi]

MFE bole to?

Most favourable entry, means,
The best you potentially got out of a move before it may have turned and hit SL or you exited badly.

Ravi bhai dekho, went to 70 and now back to 40.
Bcos didn't want to risk that ISL 30pts, moved it to BE, so loss of 1pt and price is still favourable.
This is the biggest trick to handle BNF.

 

[TraderRavi]

MFE bole to?

Maximum Favorable Excursion (MFE)
=> maximum profit after your entry

 

[aja]

Ravi bhai dekho, went to 70 and now back to 40.
Bcos didn't want to risk that ISL 30pts, moved it to BE, so loss of 1pt and price is still favourable.
This is the biggest trick to handle BNF.

I am not good at handling BNF.
But you are doing well,so bhai instead of taking a loss of 1 point,why dont you book profit on 20 points??

last trade aur yeh trade pakad ke 40 point hua hota naa.(Scalping point of view)

 

[vivektrader]

Most favourable entry, means,
The best you potentially got out of a move before it may have turned and hit SL or you exited badly.

Ravi bhai dekho, went to 70 and now back to 40.
Bcos didn't want to risk that ISL 30pts, moved it to BE, so loss of 1pt and price is still favourable.
This is the biggest trick to handle BNF.

You move Initial SL to breakeven when it moves 1R? Your ISL is always 30 for BNF? I think I missed a part of discussion.

 

[travi]

I am not good at handling BNF.
But you are doing well,so bhai instead of taking a loss of 1 point,why dont you book profit on 20 points??

last trade aur yeh trade pakad ke 40 point hua hota naa.(Scalping point of view)

See, I'm trying to sharpen the trading skills on HTF. so I use 15m to support the entries for trend.

You move Initial SL to breakeven when it moves 1R? Your ISL is always 30 for BNF? I think I missed a part of discussion.

Correct Vivek bhai.

BNF has 50pt whipsaws so you can't keep taking 20pt trades bcos then you loose out on those 100-200pt moves.
By sacrificing those 20pointers, you'll get the 100pointers.
My min. threshold is 50pts I consider as good trade else let that trade hit BE for 5pts & look to re-enter

See image, it'll be clear

 

[rjshem]

Right sir, 2x exit plan pe 100% work nahi kiya as some part of the mind is asking me to capture these types of moves.

As u also said before , lot of patience is needed to wait for these days...

If u do ur homework well these kind of confusions can be avoided before using something in ur trade plan u should be well aware of it.

 

[rjshem]

See, I'm trying to sharpen the trading skills on HTF. so I use 15m to support the entries for trend.


Correct Vivek bhai.

BNF has 50pt whipsaws so you can't keep taking 20pt trades bcos then you loose out on those 100-200pt moves.
By sacrificing those 20pointers, you'll get the 100pointers.
My min. threshold is 50pts I consider as good trade else let that trade hit BE for 5pts & look to re-enter

See image, it'll be clear

Travi u have excellent understanding of what ur trading :clapping: this is very important for a trader.this is trading nirvana

 

[TraderRavi]

gap of 17th feb may be filled in BNF