My daytrading

[adityasaraf007]

Raghavji..... if your time permits and if you did trade Nifty today........ please share your experience with us...... Specially what was going on in you mind and what was your psychological makeup during the trading hours........

Aditya

 

[Raghavacc]

Raghavji..... if your time permits and if you did trade Nifty today........ please share your experience with us...... Specially what was going on in you mind and what was your psychological makeup during the trading hours........

Aditya

Namaste Aditya,

Regarding today's trade I can say only one word " ST Bro rocked again: D"

Also I should call myself lucky today as I did not go out on my work till 1 PM .Early morning session I was not much interested to take any trades.The only thing which made me to trade was that ST bro's gap in 5 Min TF.Now a days though most of my trades come from 30 Min TF due to my work commitments,I keep looking at 5 min TF whenever I get free time. I was looking at Nifty casually just for observation and I noticed gap and opened position and I never knew that it will collapse like this. Whatever I got was a bonus.

Sometimes when time favors you ,you are in a right place at right moment.That's what exactly happened to em today...

I do not have chart with me now.Will post chart and interpretations once I get it.

 

[adityasaraf007]

It's Ok. No need to put up the charts........... I got what you are referring to....

But can you please elaborate on what was your psychology after the fall..... I am interested in this part..... Not the trades.....

Thanks and regards,
Aditya

 

[Raghavacc]

Aditya,

Since you have stressed the point Psychology I would say I follow what Lord Krishna said in Gita,

"Sukhe Dukhe same Kritva Labha Alabav jayav ajayav"

Means accept "happiness, sorrow,profit,loss and win and defeats with equal mind".

I never get excited by big profits nor get deterred by series of losses if they happen.

Both in life and trading, I have seen both parts.Hence I learn't accepting both of them heart fully.

 

[Raghavacc]

got tricked this time. I was relying too much on Fibs. Shorted another lot at 5295 thinking it was 50% of the big red bar in 30 min chart with SL at 62% retracement and the SL was hit at 5314

loss 19 points.

Casolite,

You are cent percent right. We should not rely on anything too much.Now we have lot of techniques and ideas. Judicious mix of them at appropriate circumstances produce great results.Thats the reason I kept priority as

1.Price action
2.Location of price action
3.Confluence
4.Indicators
5.Multi Timeframe.

Adding to this if we add stoch's, gaps,retest,breakout,breakout failure's,patterns,fib ,IB we get great results.

Please carry on with good efforts that you are putting.I could sense that you have grasped all the concepts of this method and only thing you need to do is adjust them according to circumstances.

 

[adityasaraf007]

Aditya,

Since you have stressed the point Psychology I would say I follow what Lord Krishna said in Gita,

"Sukhe Dukhe same Kritva Labha Alabav jayav ajayav"

Means accept "happiness, sorrow,profit,loss and win and defeats with equal mind".

I never get excited by big profits nor get deterred by series of losses if they happen.

Both in life and trading, I have seen both parts.Hence I learn't accepting both of them heart fully.

You made my day........ this was what I was looking for........ It's not that I had the loss today...... actually I didn't trade today......... But was feeling as if I missed the opportunity.

Thanks and regards,
Aditya

 

[krish4166]

Raghav,
You are lucky to sell and get bonus,
plz explain at what time was sell sginal for you and what was the target and stoploss on 5 min TF NF chart.

 

[krish4166]

Raghav,
Plz explain on 21st IB trding on NF on 30 min.
http://imgur.com/tc3NF

 

[Raghavacc]

 

[Raghavacc]