Hello Vinod,
You said - "No fresh position should be taken based on my support and resistances as range is still wide & volatality may remain high." - Does that mean we shouldnt have gone short at 5151 as advised in todays recomendation.
also you say - "I will go SHORT if market trades below 5151 with SL 5439." - Why would you do that if you are advising others not to go short? This is contradictory to the other statement above. Are you going short just to test your trading algorithm?
Sachin
Dear Sachin,
Are you prepared to have 400-500 points loss in a single trade & still willing to take next trade with again risk of loosing another 400-500 points losses & still not loosing faith in my system ? If your answer is "YES" than go ahead and trade.
Tell me frankly, after having one or two losses of around 400 points each at this time, won't you loose your confidence in my system ? There is no point to keep blind faith in me or my system. My system has also many disadvantages like, it may give you series of losses if market turns range bound. If you have gone to last year result, than there are number of loss making trades consecutively. Are you aware and prepared for this ?
I am trading because i already have more than 1000 points gain in this month. So i am willing to take large risk and do not mind to loose 400-500 points if any of my trade goes wrong and still prepared to take next trade. I do not want people to loose more those who has already lost heavily in this highly volatile and uncertain market where risk is very high hence keep requesting you all not to initiate any fresh position till market stabilizes. Money can never be made in desperation. And if you have any hope to recover your part of losses that you may have had and that too in short duration, than please do not trade on my levels mostly you will be disappointed.
By going through all your messages, If you ask me whether to trade futures or not, than my clear answer is that, the Futures trading is not suitable to you. You should stop trading futures and look for any other way to earn. My words may be look very hard to digest and also looks very bluntly but ultimately it is in benefit to you. I am extremely sorry if I hurt you with my words or any other manner but I said whatever I feel. I understand and know very well that I have no right to give any certificate to anybody for anything but some times, I do what my heart says and not my mind. I hope you understand and take it positively.
If you still wish to trade than again I request you to study the system, the last year results, the risk involved, gain/loss frequency etc in detail before taking next trade. Either you have to believe that As per my experience the selective trading approach is not working over longer time in my system or you have to test practically at your own.
If you have any other doubts, pl let me know.
I request all other members, to let me know whether there is any confusion in any of my statements. so that I can improve at my end.
I said whatever i felt. I request all those experienced traders to advise him if you wish so.
Thanks & Regards
Vinod