General Trading Chat

[HappyLife]

Tomorrow Ashok Leyland & Bhel result (play keeping today’s Day High & Day Low in mind)

Ashok Leyland break down Yesterday day low 89.2 touch 88.15 -&- break above Yesterday day low touch 90.5
Bhel open above Yesterday day High 140.45 touch 143.5
(forgot to mention it’s my strategy for the day for scalping)

 

[Smart_trade]

Best way to trade slow grinding market is take the trade,put a stoploss and move away. Staring at the screen is of no use.Once the trade moves in profit, bring stoploss to breakeven and move away with look at the price to see if your profit taking level is approaching where we need to see the market action closely.

Smart_trade

 

[travi]

Nifty slipping again, taking out 8500 :fatigue:
It appears to be most significant level this half year.

 

[traderniftybull]

Nifty spot, BankNifty spot, BankNifty Fut
all 3 are open = high

 

[HappyLife]

Best way to trade slow grinding market is take the trade,put a stoploss and move away. Staring at the screen is of no use.Once the trade moves in profit, bring stoploss to breakeven and move away with look at the price to see if your profit taking level is approaching where we need to see the market action closely.

Smart_trade

But Why trade when confused (no clue) about the market… its best to stay at the sideline because a loss is a loss.

 

[Smart_trade]

But Why trade when confused (no clue) about the market… its best to stay at the sideline because a loss is a loss.

We are not talking about trading when there is no clue....the very fact that the trade triggers means our system has triggered a trade but the market does not move quickly in our direction....eventually it moves and gives us more than 2:1 or 3:1 RR trade.

Smart_trade

 

[Prataap_2013]

Vedanta Cairn Hind Zinc group moved today. Just caught Vedanta in time and now done for the day

 

[HappyLife]

We are not talking about trading when there is no clue....the very fact that the trade triggers means our system has triggered a trade but the market does not move quickly in our direction....eventually it moves and gives us more than 2:1 or 3:1 RR trade.

Smart_trade

I am an old school type write down every thing on an excel sheet before trading so didn’t get your point at first. I don’t over trade so until trend is not clear no question of trading for me.

 

[Smart_trade]

I am an old school type write down every thing on an excel sheet before trading so didn’t get your point at first. I don’t over trade so until trend is not clear no question of trading for me.

I will give an example of todays trade....we opened gap up and the the market was unable to hold the first candle low....after it broke the low, we were in sell mode as the bigger trend is already down...so we sell on a small white candle (9:50 or 10:18 candle) and keep a stoploss at 9:45 candle high. Then market went sideways and did nothing for 30-45 min and finally broke down...during this 30-45 min traders mind starts playing games ( like it is not breaking..so shall we take small profits or a scratch trade ?? etc) but finally it broke down as expected and we got a good profitable trade...( all Nifty Fut 5 min candles)

Same happened yesterday too...

Smart_trade

 

[HappyLife]

I will give an example of todays trade....we opened gap up and the the market was unable to hold the first candle low....after it broke the low, we were in sell mode as the bigger trend is already down...so we sell on a small white candle (9:50 or 10:18 candle) and keep a stoploss at 9:45 candle high. Then market went sideways and did nothing for 30-45 min and finally broke down...during this 30-45 min traders mind starts playing games ( like it is not breaking..so shall we take small profits or a scratch trade ?? etc) but finally it broke down as expected and we got a good profitable trade...( all Nifty Fut 5 min candles)

Same happened yesterday too...

Smart_trade

I think no one is annoyed with our little chit chat overhear & thanks for your knowledge sharing.