Seeing the 15min Chart as is.

[Mungerilal]

yeh mahan Drushya hai..
Nifty aaj Sideways me hai..

 

[jamit_05]

Current DD: 35 pts

Apparently, there isn't a way around DDs. I could stop trading for a couple of days after really big days, take a break. Otherwise, there is no way around DD. Thursday was a big day, over 100 pts of collection.

 

[jamit_05]

Current DD: 80 pts

I could've taken the risk of not trading on Friday as last week had shown plenty of action till Thurs EOD. This would've saved me 30 points. Coming back to the present, if today gives a 100+ points, then I will not trade on Wed.

 

[jamit_05]

DD has build up. A big day will only set a breakeven.

 

[jamit_05]

Over the years, I have learned a lot of good stuff. But, most of it is only doing disservice to my cause. I suppose, trading indeed is a mechanical business.

 

[jamit_05]

Back at trading the 15min. Have made some modifications to reduce the frequency of trades. Sacrificing small moves and retaining the big moves in the process.

So far, good day. No trades.

 

[jamit_05]

ST da,

http://imgur.com/P3wiSsa

at the red line short entry was taken. For exits, I was waiting for LOD of 21st, but price didn't touch. This makes me ask, What should be one's state of mind regarding exits?

Some choices come to mind:

1. should I take 10 or 15 points as i get them
2. should i trail stop at 15min bars

pls provide your view on suitable exits in such situations.

In this particular trade, I took a loss of 5 points. And later thought that i should exit half lots at a strong 15min bar, and tsl rest to breakeven.

 

[Smart_trade]

ST da,

at the red line short entry was taken. For exits, I was waiting for LOD of 21st, but price didn't touch. This makes me ask, What should be one's state of mind regarding exits?

Some choices come to mind:

1. should I take 10 or 15 points as i get them
2. should i trail stop at 15min bars

pls provide your view on suitable exits in such situations.

In this particular trade, I took a loss of 5 points. And later thought that i should exit half lots at a strong 15min bar, and tsl rest to breakeven.

Amit,

Chart not visible. Please post it again.

ST

 

[jamit_05]

Amit,

Chart not visible. Please post it again.

ST

DONE.... something wrong with imgur links

 

[Smart_trade]

ST da,

http://imgur.com/P3wiSsa

at the red line short entry was taken. For exits, I was waiting for LOD of 21st, but price didn't touch. This makes me ask, What should be one's state of mind regarding exits?

Some choices come to mind:

1. should I take 10 or 15 points as i get them
2. should i trail stop at 15min bars

pls provide your view on suitable exits in such situations.

In this particular trade, I took a loss of 5 points. And later thought that i should exit half lots at a strong 15min bar, and tsl rest to breakeven.

I follow a principle that when a trade moves in profit, I will NEVER take a loss on it. My money is only at stake for first 15-20 min.

The last black candle (Small spinning top candle) on the chart in downtrend indicates that the bears are loosing power...so take some profits there...and above the high of the secondlast bearish bar ( big bar) we must book the entire profits.

Once a trade moves in profit by 15-17 points...we must protect 10/8 or even 5 points from it and in no way we should allow our stops to get hit and we loose money on a winning trade.

Smart_trade