Day Trading Stocks & Futures

iwillwin

iwillwin

Well-Known Member
#65,351
#65,351
ST da in the past I have done the mistake of averaging on loss making position....have learned hard way to remain out when such volatile moves happen...
How does one easily switch position i.e. trade direction....if my stop loss is hit how to quickly change our mental framework and trade on the opposite side....
Please share few things after market hours on the subject or habit that helps us in cutting losses faster...

Holding on to winners and when one can start to think to book profits.... pls share few points
I am sure there are many out there who want to improve on above two crucial aspects of trading
 
Smart_trade

Smart_trade

Moderator
#65,353
#65,353
iwillwin said:
ST da in the past I have done the mistake of averaging on loss making position....have learned hard way to remain out when such volatile moves happen...
How does one easily switch position i.e. trade direction....if my stop loss is hit how to quickly change our mental framework and trade on the opposite side....
Please share few things after market hours on the subject or habit that helps us in cutting losses faster...

Holding on to winners and when one can start to think to book profits.... pls share few points
I am sure there are many out there who want to improve on above two crucial aspects of trading
Click to expand...
Traders should never average losing positions....if you are trading, market after 2-3 days of move in one direction change direction. So taking the current example, it is right to trade from short side because the trend was down ...even today it is fine to short but we have to keep immediate higher pivot high as a stoploss.....if the stoploss is met, we are out of short positions....but we dont go long immediately....there is some level above which we say the trend has changed and we now go long..in case of Bajaj Finance that level was 3466/68 or max 3495.....so above these levels one should change the direction of the trade to long.

If you are trading then you have to be able to quickly change direction of your trade and this has to be learnt by practice else you go on averaging and suffer a loss as the market trend ( atleast in short term or our trading timeframe ) has changed.

Smart_trade
 
Smart_trade

Smart_trade

Moderator
#65,354
#65,354
Sanjiv Bajaj issued a statement that his statement on demand slowing down was a remark on Budget and general economy and not on working of Bajaj Finance which he says has done much better in Q1 on sales,AUM and profits grounds...

Jara samhalkar bolte ja re baba......puri market Bajaj Finance bechne chal padi....aur hamein counter samhalna pada :cool::D

ST
 
Last edited:
V

vikas2131

Well-Known Member
#65,355
#65,355
Smart_trade said:
Sanjiv Bajaj issued a statement that his statement on demand slowing down was a remark on Budget and general economy and not on working of Bajaj Finance which he says has done much better in Q1 on sales,AUM and profits grounds...

Jara samhalkar bolte ja re baba......puri market Bajaj Finance bechne chal padi....

ST
Click to expand...
hhahaha Bajaj finance was one of the most important factor in large sell off we saw yesterday. chalo acha hai. thoda short bhi paise bana liye. :)
 
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