its a bad plan as when news comes out almost all times the market will move both ways stopping weak longs and shorts on both sides ... a better sound plan is either get out befor news and revalute and get back or keep a higher stop
its a bad plan as when news comes out almost all times the market will move both ways stopping weak longs and shorts on both sides ... a better sound plan is either get out befor news and revalute and get back or keep a higher stop
had half of my usual position and should have got that out before news that seems to be better than big sl as with bigger stop, loss will be bigger....we can always re-enter if premise is valid.
actually it did shake out weak longs and triggered new shorts as 1190 buyers disappeared, went below 1190 only to come back above 1190 just before the news, making losers of both long and shorts.
indian markets have been relatively strong than other markets ,so i expect a trend day above 6550 , if that happens plan is to buy break outs in strong stocks