Learn How To Fish

[MSN1979]

Vijay bro Price above ERL so erl active but no TRIGGER YET...but now less time, If trade come late like today? My questions is do we take trades near closing time? Also what time should be our last trades?

 

[VJAY]

Vijay bro Price above ERL so erl active but no TRIGGER YET...but now less time, If trade come late like today? My questions is do we take trades near closing time? Also what time should be our last trades?

I mostly take trades if it triggers before 3 .00 PM .means I cancel my pending orders @ 3.00pm

 

[VJAY]

Dear MSN,
As emotions not affect you then can trade with your cap ...just at start lower your risk%

 

[MSN1979]

Dear MSN,
As emotions not affect you then can trade with your cap ...just at start lower your risk%

Thanx bro, yes emotions have not affected me so far. But I will stick to system. I am done trading for the day. Thanx

 

[MSN1979]

Today's Understanding of Price action and Trades all included in 1 chart.

Contract Note:

Trade Log

Commentary:

Number of Trades Taken: 1
Entry: Correct Entry , Short of MPL below VPL
Reason: Vijay Bro
Exit: Partial Profit Booking at fixed price and Exit as per pivot
Emotions: None


Strengths: Traded only 2 shares as guided by Vijay sir, Entry and Exit as per system, No play of emotions. Cleared doubts from Vijay Sir.

Weakness: I feel this is a new area of improvement. vivek and Vijay were quick in moving SL. I was lost, although I did understand profit booking method to a little extent but I feel I need to be smart to learn when trade is going against and when to get out.

It was fun filled day with loads to learn.

 

[MSN1979]

Vijay Bro

So todays understanding of Setup

We are in DT but Price above ERL

1. We short MPL: Reason as we are in DT (EDIT: Todays formed MPL I mean)
2. We long new made (today)MPL above: (Yesterdays ERL): Reason ERL Long
3. We can also short yesterdays VPL
4 If price goes above VPH Trend change to Start of UT
4. We can long mph above break of VPH

Please correct if wrong

 

[VJAY]

Vijay Bro

So todays understanding of Setup

We are in DT but Price above ERL

1. We short MPL: Reason as we are in DT
2. We long new made (today)MPL above: (Yesterdays ERL): Reason ERL Long
3. We can also short yesterdays VPL
4 If price goes above VPH Trend change to Start of UT
4. We can long mph above break of VPH

Please correct if wrong

check if new mph is near VPH(erl trade)we avoid it as not much distance price to move...

 

[PreSap]

Yesterday Tata Steel Futures Trade

 

[PreSap]

Tata Motors Futures Yesterday

 

[MSN1979]

This is not related to method. I am posting this just to get clarifty of Price on a bigger chart and where its going.
Vijay Sir- If its a distraction n this method please let me know. I will remove it. I do not consider this for Taking trades in our method only Price movement on bigger time frame
TATA STEEL - D