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hello darsh..
i would just like to comment one thing that ur system lacks a bit,,,
like for example,,i traded in rcom today....as it was in short trade,,, but faield,,nevr mind,,,instead it went to 505,,
so i what i think the system should be like such that ur trade whether it is in long or short,,,but must ,,,close when the support or resistance is broken,,and hence should be entered vise versa,,,like rcom,,,,today ,,it just went 487 twice,,in the morning,,and hen turned from490,,to ,,505 top,,,so on eshould ,,,hav esquared the short position and moved for long,,,,but since there was no option of this in ur sheet,,,(short),,as when to close the position,,,,(i ma not talking for the sheet of the nifty 50 levels..)
well like in my ,,eod system..i had buy of future at 493 levels,,,,,,,,,,and hence i did the same,,,
hope i clear my ..doubts to u
renu...
i would just like to comment one thing that ur system lacks a bit,,,
like for example,,i traded in rcom today....as it was in short trade,,, but faield,,nevr mind,,,instead it went to 505,,
so i what i think the system should be like such that ur trade whether it is in long or short,,,but must ,,,close when the support or resistance is broken,,and hence should be entered vise versa,,,like rcom,,,,today ,,it just went 487 twice,,in the morning,,and hen turned from490,,to ,,505 top,,,so on eshould ,,,hav esquared the short position and moved for long,,,,but since there was no option of this in ur sheet,,,(short),,as when to close the position,,,,(i ma not talking for the sheet of the nifty 50 levels..)
well like in my ,,eod system..i had buy of future at 493 levels,,,,,,,,,,and hence i did the same,,,
hope i clear my ..doubts to u
renu...
I know the limitations of my system. But if u have noticed one thing, if u were short in RCOM at given levels and when ur stop got triggered, it came till the price whre u can minimize ur loss for nothing else then the brokerage.
I have already admitted, Neither me nor my system should be considered as God. Finally its a trading system, it doesnt understand the sentiments, and when so ever u find ur trade went wrong u can always have a stoploss to exit.
but for ur querry regarding the reversing the stratagy, i can tell u one thing. That the levels given on the sheet r basically support and resistance. u can inverse ur stratagy by keeping next level as ur stop and target.
hope u got what i mean....
and ya sorry for all selling stops have been triggered today. ONCE AGAIN , I M NOT GOD.
regards,
Darsh