Going with the Intraday Mini-Flow!!

[vvvv]

saint,
pls can u lay down specific rules abt when to add.still confused abt add-ons.

profit taking - r u taking ur 1st profit when ur R/R = 1 tht also 1/3rd ?
when does ut 2d profit taking come???

 

[rkkarnani]

After 3 continuous days of profiting, I thought I should not be greedy. To cut the greed if any, I decided to trade only one lot. Didnot expect much profit today. Initially I thought I made a mistake but now I am happy with my decision of NON-GREED. Will make minimum losses. Even though all these on paper only. Plan to start with my own money in a small way tomorrow, will trade one lot only. Will join the group from 3rd October. Wish me luck seniors.

vps

VPS, Had the trades clicked today too as nicely as they did in last few days, your NON-GREED would be seen as FEAR!!!!
My view is that overcoming greed is as important but more important is overcoming the "fear"!!! The fear of loosing!!! May not be true in your case but we usually term our fear as not being greedy!!!
All this will boil down to one most important word : Discipline!!!!
Consistency is the life of any systematic trading!!! Today you do not trade becoz you had made good profits in last three trades!!! This is absolutely fine if you have a predefined Target say for a week or a month or a settlement!! But it should be avoided to stop trading on whims if you are trading a system!!! Has happened with me in the past, 3 trades giving losses on consecutive days, I did not trade the next day and had the shock : The profits that day wiped out almost the entire loss of previous 3 days!!!
So let us strive to be disciplined!!!!
All the best!!
-R K Karnani
ps.: This is not for critisizing you , just sharing my thoughts on such actions that we tend to take on whims!!! Have had my share of such actions long back!!!

 

[niftychance]

• NON-GREED would be seen as FEAR!
  
  
• Overcoming Greed is as important but more important is overcoming the "FEAR"!
  
  
• The Fear of loosing, We usually term our fear as Not being Greedy!
  
  
• Consistency is the Life of any Systematic Trading!
  
  
• It should be avoided to stop trading on whims if you are trading a system!
  
  
• All this will boil down to one most important word : Discipline!
  
  
• So let us strive to be DISCIPLINED!
  

-R K Karnani

Good one sir ...

 

[vvvv]

i think people from the army wud be more suited to trading as they are already leading a disciplined life

 

[HEM]

Dear Saint,

Thank You for giving such simple, straight forward Strategy. Crowning Glory is your lucid style. It leaves no opprutunity for confusion.

Pls permit me differ from one of your Advices. ( in lighter vein )

You have asked for total dedication during hours. All I have to do at the start, is to place two orders. Obviously one will get triggered and other will act as SL. Convert SL into SAR. Now it is only matter of creating one fresh SAR when the current SAR is hit, OR keep on modifying current SAR every one hour. And at the end of the day close the positions. So much of free time.

Like the Ad, Fill it, Shut it & Forget it (Hero Honda Ad of yester years).

Thanks Again Saint.

Cheers

what is the meaning of SAR ?

 

[ratan jain]

what is the meaning of SAR ?

SAR stands for Saala Aaj Raapchik din tha

 

[rkkarnani]

what is the meaning of SAR ?

SAR= Stop and Reverse

When we say its a SAR level, we reverse our trade at that level, if we are long we exit our long and go short and vice versa!!

 

[columbus]

VPS, Had the trades clicked today too as nicely as they did in last few days, your NON-GREED would be seen as FEAR!!!!
My view is that overcoming greed is as important but more important is overcoming the "fear"!!! The fear of loosing!!! May not be true in your case but we usually term our fear as not being greedy!!!
All this will boil down to one most important word : Discipline!!!!
Consistency is the life of any systematic trading!!! Today you do not trade becoz you had made good profits in last three trades!!! This is absolutely fine if you have a predefined Target say for a week or a month or a settlement!! But it should be avoided to stop trading on whims if you are trading a system!!! Has happened with me in the past, 3 trades giving losses on consecutive days, I did not trade the next day and had the shock : The profits that day wiped out almost the entire loss of previous 3 days!!!
So let us strive to be disciplined!!!!
All the best!!
-R K Karnani
ps.: This is not for critisizing you , just sharing my thoughts on such actions that we tend to take on whims!!! Have had my share of such actions long back!!!

RK,

Can't stop resisting from ....................>

.

 

[ravalsb]

what is the meaning of SAR ?

If it is in the right place its Stop And Reverse, but if it is in the wrong place it is Screwed And Reversed.

 

[HEM]

SAR= Stop and Reverse

When we say its a SAR level, we reverse our trade at that level, if we are long we exit our long and go short and vice versa!!

Thank you very much rkkarnani .