price action trading

saakk

saakk

Well-Known Member
#51
#51
Digesting a successful day can be hard for a beginner trader like me, If i took 6 trades and 5 of them in profit catching the whole trend on 2 of them can give a big kick to my ego and i will be super excited for a next day to begin and instead trying to trade setups i will start trading my excitement, take all the low probability entries which will surely put me in loss of financial and MENTAL capital both and throw me out of the sync. So now i take the next day off, get through my excitement, calm myself, study what i did right and enjoy the feeling :)
 
saakk

saakk

Well-Known Member
#55
#55
timepass said:
Looks like your trading day for this scrip starts after 11am or so, when the 21ema has shed off yesterday's effects.

See the chart for a single day, and using 21ema, see if you would do anything different.
Click to expand...
Dear timepass,

Its not like that but only when price open gap up or down, for me my SL is far more important than target. if my SL is too big i will not take the trade or will look for better entry. EMA is just like support and resistance line i use to find good setups that's all. Thing is on 2nd july i was constantly on wrong side of the market. when i saw the chart later in the evening i realized my mistake that in sideways market i was trying to trade of the flat EMA.
 
Last edited:
saakk

saakk

Well-Known Member
#60
#60
timepass said:
Range broken with force on the upside.. were you with it ?
Click to expand...
no sir,
i got in above 12.10 bar (min chart) at 60.5225 got my scalp at 60.5525, then moved my SL to breakeven at 60.5225 on remaining contract and it got hit, after that couldn't find a good signal bar to go long.


regards
 
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