My trade levels will be same irrespective of whether swing gives 100,200,300 or 500 points. In swing min profit 100 points but it could be 500 or 700 points also..we book only on reversal.
Combo gave one more reason to take a trade.But every swing combo may not give signal. On swing 3-4 days back there was a signal to go short ( below 7757 ) but soon market closed above that negating the signal ...so one needs to get out of short trade. This signal also we dont know if it works...if it does not, then we will try the next signal.
Smart_trade
Thanks for all the wisdom on swing trading shared so far - Three key ingredients that I learnt for being successful in swing trading from you
a) Patience - Let it flow - keep profits running when in trade and patience to enter trade on specific level - it always gives fruits juicy ones
b) Exit quickly if wrong - Taking small losses quickly - reenter when clear signals
c) Go with flow - Don't think this level cannot be broken - both for support/resistance - go with flow
I'm able to do b) right now, as well as reaching maturity levels on a), but weak on c) - which leads to holding banana's for long time and missing the flow
Sincere thanks to you ST da