General Trading Chat

[pareshR]

US Markets closed tonight, no cues for Indian Markets ?
3 Stop hits , now SOH

3 SL hits??? time frame ?

 

[amitrandive]

3 SL hits??? time frame ?

5 min ,shorted 3 times , all stop hits .

 

[blackberry]

7420 plus 1:35 pm see how trade unfolds

 

[Smart_trade]

One of the things a trader has to learn is never hold loosing position, and worst still is average it. When I was new in the market, I used to do this mistake which made me pay big penalties...as a new trader if I buy at say 7900 and the market comes down to 7800 I used to think "thoda samhalna padega" this "samhalna was a killer.Best is get out of a loser and reverse the trade....it is possible that after going to 7700 or 7600 the market will come back to 7900 but I will be holding a loosing position and tension of a loss and when ( and if ) it comes to 7900 I will definately sell out 50 points before ...instead of that reverse at 7850,take a 50 points loss there and when from 7600 it reverses, reverse at 7650 and ride 200 points on the way down and 250 points on the way up.....I am just giving hypothitical levels to explain ,in actual practice market is never as simple and people holding losing positions have their own arguments for holding it....

But holding a losing position is never a good practice no matter what arguments the losers put forward. For me it is well settled...NEVER HOLD A LOSING POSITION,as you are walking on a land mine...it may not explode 2-3 times but when it explodes, we don't get a second chance.

Smart_trade

 

[arsh22g]

Abhi fir ping pong hone wala hai :annoyed:

 

[pareshR]

5 min ,shorted 3 times , all stop hits .

may be shorted @1st @ 7415, 2nd @ 7424 and 3rd @7415 apporx

 

[blackberry]

3rd attempt today :thumb: see how it will turnout ,time to move SL

 

[amitrandive]

may be shorted @1st @ 7415, 2nd @ 7424 and 3rd @7415 apporx

Somewhere around those levels ,:rofl::rofl::rofl:
Missed long trade due to short bias today.

Nifty spot ping pong around these levels , friday low levels.

 

[wisp]

3rd attempt today :thumb: see how it will turnout ,time to move SL

Is 1 min your normal trading timeframe?

 

[arsh22g]

Somewhere around those levels ,:rofl::rofl::rofl:
Missed long trade due to short bias today.

Nifty spot ping pong around these levels , friday low levels.

NF is following FTSE again today, move by move. Scalping day for me, -8, 10, 12, -9, 5,6,5 ....last 2 based on FTSE levels :annoyed: