My System - My trades.

[Subhadip]

The words of the Gambler by Kenny Rogers "You don't count your money, when you are sitting at the table, there will be time enough to count it, when the game is done." I would like to share my experience with these words of wisdom. I have seen many people use the term 1R 2R...10R etc. Does it have any relevance to ones trades. It just inflates one ego and in fact is an impediment to growth. It is akin to having a mental barrier. Look up any post of ST ji and you would find the saying "While amateurs go broke by taking large losses,professionals go broke by taking small profits" at the bottom. You are selling yourself short when always calculating R's because at the back of ones mind while doing so is a very safe attitude. Your trades are curtailed by always looking up this number. So you get satisfied by such nos. as 1R 2R... instead of scoring a home run when the market gives you an opportunity. Case in point is, how many of you were able to catch even 50% of the monster move in crude (more than a 100point) after 9:00 today. I for one concede that though i was wrong in my initial bias as posted on Tuna ji's post. I Netted 15points in long followed by 70 points in short. I am not highlighting my trade, just my attitude towards a trade. Do not sell yourself short. I have often said in this thread that the market is trending only 20% of the times. Why put a cap on your winnings during such times. One should have discipline in ones trades to get out only when stopped out or coming out of the trade when the reason for being in the trade is no longer there. Once you have done the hard work of identifying the set up and initiating the trade, it should be criminal to exit without consummating.(Could not find a more appropriate word).

Excellent....:thumb::clapping::clap:

 

[varunkochhar]

Thank you Subhadip ji.

 

[XRAY27]

Yesterday was Normal day as per MP ,traded with OBV... first two trades was profit ones, so traded 3 rd with 1/2 of my usual qty..these are not as per classic setting as discussed in this thread,small tweaks for my scale of 3 mins

Blue:Buy, Sell:Red, square off :White..

 

[vivektrader]

Yesterday was Normal day as per MP ,traded with OBV... first two trades was profit ones, so traded 3 rd with 1/2 of my usual qty..these are not as per classic setting as discussed in this thread,small tweaks for my scale of 3 mins

Blue:Buy, Sell:Red, square off :White..

Xray ji, do you take 200ema in consideration when you take a trade in both price and obv?

Vivek

 

[XRAY27]

Xray ji, do you take 200ema in consideration when you take a trade in both price and obv?

Vivek

vivek ji !!

i don't use 200 EMA... it is 240 EMA !!! and another is 20 EMA..in price and in OBV i don't use 200 or 36 !!!

 

[vivektrader]

vivek ji !!

i don't use 200 EMA... it is 240 EMA !!! and another is 20 EMA..

So you are taking trades on correct side of 20ema and not taking position of 240ema, is that correct?
Also,
I noticed excellent exits, one is based on pivot failure I suppose, couldn't understand the last, is it failure at obv resistance?

Vivek

 

[XRAY27]

So you are taking trades on correct side of 20ema and not taking position of 240ema, is that correct?
Also,
I noticed excellent exits, one is based on pivot failure I suppose, couldn't understand the last, is it failure at obv resistance?

Vivek

Last was based on break of higher high in obv and exit was based on pivot failure ..i take position on 240 failure ,its a case dependent !!!

 

[XRAY27]

Last was based on break of higher high in obv and exit was based on pivot failure ..i take position on 240 failure ,its a case dependent !!!

Just check my exits with PDH,PDL,2DH and 2PL !!!

 

[ampa]

Hi Xrayji,

What are the parameters for OBV in your 3 min banknifty chart?


Thanks
Ampa

 

[XRAY27]

Hi Xrayji,

What are the parameters for OBV in your 3 min banknifty chart?


Thanks
Ampa

Ampa ji

OBV is default