Going With The 60min Flow!!!

[Prabhjeet]

Thanks a million Saint, so the stoploss is currently at 154, right i.e. with 0.5 as room for play??

 

[Saint]

Thanks a million Saint, so the stoploss is currently at 154, right i.e. with 0.5 as room for play??

Yep.....and now at 148.

Saint

 

[Saint]

Looking at JPA reminded me of something I wanted to say....

In this type of trading,if you are disciplined,you really care 2 hoots about the stop losses.Once you get your entry and exit strategies right,you take your stops if hit knowing that you can make multiples of that the next time around.

Fear doesn't rear its ugly head......But Greed absolutely does!

It is Greed that you have to guard against.......1 LOT in JP is equiv to 750 shares.4 lots is 3000.......it is trading at 137.5,stop is 148.Meaning if you take your profits here,you earn +30k.....And your mind tells you take it,we will think of tomorrow when it comes.And then mistakes are made in entry and a huge mess is the result.

Train the mind to look at the Trail Stops.......entry is 165,stop is now at 148,meaning +17pts definitely in the pocket.Meaning +51k is definitely in......don't mentally work out the current price.That's not yours yet.

If you had taken your profits here and there......you miss the big move,and in trying to reenter and stopped,you even lose what little you have made.

Stick to the plan.....Keep the mind at the trail stop.Rejoice in the +17pts you made.Not the value till close today.

Saint

 

[segul]

Looking at JPA reminded me of something I wanted to say....

In this type of trading,if you are disciplined,you really care 2 hoots about the stop losses.Once you get your entry and exit strategies right,you take your stops if hit knowing that you can make multiples of that the next time around.

Fear doesn't rear its ugly head......But Greed absolutely does!

It is Greed that you have to guard against.......1 LOT in JP is equiv to 750 shares.4 lots is 3000.......it is trading at 137.5,stop is 148.Meaning if you take your profits here,you earn +30k.....And your mind tells you take it,we will think of tomorrow when it comes.And then mistakes are made in entry and a huge mess is the result.

Train the mind to look at the Trail Stops.......entry is 165,stop is now at 148,meaning +17pts definitely in the pocket.Meaning +51k is definitely in......don't mentally work out the current price.That's not yours yet.

If you had taken your profits here and there......you miss the big move,and in trying to reenter and stopped,you even lose what little you have made.

Stick to the plan.....Keep the mind at the trail stop.Rejoice in the +17pts you made.Not the value till close today.

Saint

very nice post saint sir.have gone through those situation lot of times and slowly gaining control over those emotions.

regards.

 

[Prabhjeet]

Looking at JPA reminded me of something I wanted to say....

In this type of trading,if you are disciplined,you really care 2 hoots about the stop losses.Once you get your entry and exit strategies right,you take your stops if hit knowing that you can make multiples of that the next time around.

Fear doesn't rear its ugly head......But Greed absolutely does!

It is Greed that you have to guard against.......1 LOT in JP is equiv to 750 shares.4 lots is 3000.......it is trading at 137.5,stop is 148.Meaning if you take your profits here,you earn +30k.....And your mind tells you take it,we will think of tomorrow when it comes.And then mistakes are made in entry and a huge mess is the result.

Train the mind to look at the Trail Stops.......entry is 165,stop is now at 148,meaning +17pts definitely in the pocket.Meaning +51k is definitely in......don't mentally work out the current price.That's not yours yet.

If you had taken your profits here and there......you miss the big move,and in trying to reenter and stopped,you even lose what little you have made.

Stick to the plan.....Keep the mind at the trail stop.Rejoice in the +17pts you made.Not the value till close today.

Saint

Very well said Saint, most of the times when I have huge gainer with me I just start counting my money and most of the times make a premature exit and then loose all and evn more money trying to get in at a better price.

Words of real great wisdom and truly appreciated

 

[debdeeps]

Hi Friends, can we consider todays high 8902 as our SL for NF Short position?

 

[myvineet]

Hi Friends, can we consider todays high 8902 as our SL for NF Short position?

OMG!!!!!!! i love to see 8902 on screen ........

 

[Satyen]

Hi All Pivots

Regards
Satya

 

[debdeeps]

Hi Friends, can we consider todays high 8902 as our SL for NF Short position?

Oops!! Typo. It is 3902 which is also evident from the chart that Satya posted. Thanks Satya.

 

[rkkarnani]

Hi All Pivots

Regards
Satya

The Nifty Future may open above the SL/reversal level today!!! If it does, what is our action?
Do we exit shorts and go long immediately ?
Wait for 5 minutes and reverse the shorts and go long above the high made by the first 5 minutes!!?
Bcoz if it does open above the SL lelvel it shall open with a GAP UP.... do we follow the gap rules?

Any views on this scenario is welcome!!!