Since the last 3 days we are having 3 ‘V’s ....
If we move down 2morrow then is kapitsch for the Bulls ...
and if we move above 6000 then its the other way round ...
Opening would inform us of the intentions maybe ...
Pretty good closing very close to my predicted levels :thumb:
Parental Advisory:
This was a pure speculation no TA or FA was used for this prediction but the Dow Jones reluctance to go down
Dear ranukji Some clarification about SL,I always thinks like u and realize all system shows better result without SL in backtesting,In real time also I tried this in cash with small amount. Most of the time stocks recover after hitting SL.I do this in trail basis ,cant afford to adopt as few losing trades hits me badly .
Now about mental SL.What is your reflex if a stock touch your mental stop.Do you square off position immediately, or wait for pull back ,(if u see some strength technically )
Another thing how do you manage your mental stop ,if you trade in 4 scripts and unfortunately if mental sl hits all simultaneously.
Lol, btw FIIs sold their positions like crazy today net selling in cash around 1500 crores whereas DIIs overpowered and bought more than FIIs sold. Now lets see if liquidity is provided to the markets or sucked out. If we don't close above 6040-6080 levels I expect the markets to touch 5440 levels very soon!
Dear ranukji Some clarification about SL,I always thinks like u and realize all system shows better result without SL in backtesting,In real time also I tried this in cash with small amount. Most of the time stocks recover after hitting SL.I do this in trail basis ,cant afford to adopt as few losing trades hits me badly .
Now about mental SL.What is your reflex if a stock touch your mental stop.Do you square off position immediately, or wait for pull back ,(if u see some strength technically )
Another thing how do you manage your mental stop ,if you trade in 4 scripts and unfortunately if mental sl hits all simultaneously.
Lol, btw FIIs sold their positions like crazy today net selling in cash around 1500 crores whereas DIIs overpowered and bought more than FIIs sold. Now lets see if liquidity is provided to the markets or sucked out. If we don't close above 6040-6080 levels I expect the markets to touch 5440 levels very soon!
For sure was expecting the above from you, Did not quote the same in my post as I wish to remain in the market, but was looking for some strategy to handle whipsaws and gaps.
First of all, congratulations for being resolute. Leaving the markets after losses is very common. But good you are graduating to the next level.
Whipsaws cannot be eliminated. Some use filters like volatility, volumes, late entries, confirmation indicators to eliminate the same. But, with elimination, some of the profit also gets eroded. Hence, it is a trade off between frustration and profits. Hope you understand it. The nature of whipsaws is such that it tests the most prudent trader around. This is precisely why less than 3% of traders end up being profitable. Not everyone can control their own nature to fight what usually happens.
Few things that I will tell you which help one through such phases are Positive attitude, Awareness of direction of trend, Adaptability across different time frames and of course managing emotions in real time. Whipsaw is like your lungs exhaling before starting to inhale. Since exhaling and inhaling is essential for survival. So is Winning and Whipsawing essential for Trading sustainability.
Since the last 3 days we are having 3 Vs ....
If we move down 2morrow then is kapitsch for the Bulls ...
and if we move above 6000 then its the other way round ...
Opening would inform us of the intentions maybe ...
My personal view is slightly different. The more we move down tomorrow or day after, the better it is for the next 5-6 months. The retracements underway currently are extremely good for the markets. The more it retraces the better it is. The bounce from low levels is going to be worth every bit of correction we are witnessing currently.