Trading NR7 setup
- Thread starter AW10
- Start date
- Tags narrow range nr 7 nr4 option trade
- Status
Hello Cubt,
Your earlier mesg -
You told u r trading with 1:1.5 RR ratio.. then how u traded in Bata or titan???.. u said booked profit.
1)Bata future.. according to ur method..
Difference =High 827- low 815 = 12 Points with tgt 845 (18 points).
How you booked profit???
2) Titan future..
Difference = 229 - 223.50 = 5.50 points with tgt 215 (8.50 points).
How you booked profit??
Kindly explain?
Your earlier mesg -
You told u r trading with 1:1.5 RR ratio.. then how u traded in Bata or titan???.. u said booked profit.
1)Bata future.. according to ur method..
Difference =High 827- low 815 = 12 Points with tgt 845 (18 points).
How you booked profit???
2) Titan future..
Difference = 229 - 223.50 = 5.50 points with tgt 215 (8.50 points).
How you booked profit??
Kindly explain?
I exited the short trades, am still holding onto Bata for 845 target.
Titan-I went short at 224 and covered my shorts around 221 itself,as it was not a positional trade, its a MIS(Intraday trade). It was a sudden fall at the end of the trading session. I always use any sudden fall & exit the trade at the 1st bounce. If it continues to fall without any bounce back in 1 minute TF, I hold it till the bounce back happens. So Titan did the 1st bounce around that level.. so exited with minimal profits.
It is not always necessary to follow 1:1.5 RR for each and every trade i make, as we cannot predict the market movement its always wise to rationalize your trades as per the movement. More over, I was more aggressive on friday's session. So I just carry forwarded Bata and closed all other positions. The Reason to hold Bata is
So there is a high probability for my targets. Even if Market disappoints on Monday, i would be more comfortable to lose 12*250=3000Rs than to hold multiple shorts with sleepless nights.
Hope it clears your doubts
Titan-I went short at 224 and covered my shorts around 221 itself,as it was not a positional trade, its a MIS(Intraday trade). It was a sudden fall at the end of the trading session. I always use any sudden fall & exit the trade at the 1st bounce. If it continues to fall without any bounce back in 1 minute TF, I hold it till the bounce back happens. So Titan did the 1st bounce around that level.. so exited with minimal profits.
It is not always necessary to follow 1:1.5 RR for each and every trade i make, as we cannot predict the market movement its always wise to rationalize your trades as per the movement. More over, I was more aggressive on friday's session. So I just carry forwarded Bata and closed all other positions. The Reason to hold Bata is
- It was holding firm when the Market tanks 500 points
- The stock bounced back at the last minutes of the trade
- Now stock is near its resistance level 835, once it breaks it can move till 870.
So there is a high probability for my targets. Even if Market disappoints on Monday, i would be more comfortable to lose 12*250=3000Rs than to hold multiple shorts with sleepless nights.
Hope it clears your doubts
Yes, it was a aggressive trade on Friday. But I feel you can make aggressive trades at times when you are sure of something.. provided you should be comfortable with the risk you are taking.
But I need to more conservative in the coming days. Bcoz last one week learned a big lesson.. You know what, I was on vacation last week and was reading this book Market Wizards by Jack. It's a book about individual traders who made big fortunes. Almost all traders mentioned that its wise to keep the winners and get rid of the looser very soon.
I just followed that last week,keeping the winners and squaring off the losers.
I did square of the losers very early but the winners that I kept hoping that it would tend to win more has turned into losers on the next trading sessions.
End of the vacation (Thursday), I have lost more than half of the money what I earned last month.
Its always better to follow what you are comfortable with. :thumb:
But I need to more conservative in the coming days. Bcoz last one week learned a big lesson.. You know what, I was on vacation last week and was reading this book Market Wizards by Jack. It's a book about individual traders who made big fortunes. Almost all traders mentioned that its wise to keep the winners and get rid of the looser very soon.
I just followed that last week,keeping the winners and squaring off the losers.
I did square of the losers very early but the winners that I kept hoping that it would tend to win more has turned into losers on the next trading sessions.
End of the vacation (Thursday), I have lost more than half of the money what I earned last month.
Its always better to follow what you are comfortable with. :thumb:
- Status
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