Priyanvada's chit chat home ...
- Thread starter priyanvada
- Start date
The very very important lesson for day trading I discovered/learned today ..
I used 0 min line charts ... becuase I strongly felt they give the most true picture of the market situation! ... I kept zoomed large at very very micro level ... and actually just got trapped looking at those little ups and down which happen at micro level from trade to trade and missed the basic flow at macro level!!...
This was the reason why did not used my mental stop loss! ... those small ups and downs always gave me hope that price will bounce back again ... which never occurred
... All those micro bounces were dead cat bounce for the day! ... Latter when price had gone far down I put up the 5,10&15 min candlestick chart and yyyooo I got the point!
So This is really Big Big lesson for day trading I got today! ... Won't make such stupid mistake of getting trapped at micro level again!
... For taking Entry micro level is syat best one but for exit one (traders like priyanvada!) should never NEVER use it ... better use a 5,10,15min candlestick chart for exit so you don't miss the flow!
I used 0 min line charts ... becuase I strongly felt they give the most true picture of the market situation! ... I kept zoomed large at very very micro level ... and actually just got trapped looking at those little ups and down which happen at micro level from trade to trade and missed the basic flow at macro level!!...
This was the reason why did not used my mental stop loss! ... those small ups and downs always gave me hope that price will bounce back again ... which never occurred
... All those micro bounces were dead cat bounce for the day! ... Latter when price had gone far down I put up the 5,10&15 min candlestick chart and yyyooo I got the point! So This is really Big Big lesson for day trading I got today! ... Won't make such stupid mistake of getting trapped at micro level again!
... For taking Entry micro level is syat best one but for exit one (traders like priyanvada!) should never NEVER use it ... better use a 5,10,15min candlestick chart for exit so you don't miss the flow!
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