Wednesday, 1 March 2017

10 comments:

  1. Dear Uday,

    I have too taken trade as BPB but gained only 6 point as it ranged in afternoon forcing me too exit & also this gain of 6 point lost in direct BO trade even I say 4 point loss(net) if brokerage included.

    ReplyDelete
    Replies
    1. Prakash

      You have to have your proper trade plan and have a fair idea what will you do in following circumstances.

      False trigger of the entry
      After the entry, prices not moving in favor quickly
      Prices start to move only after you exit the trade
      After hitting your SL, it starts to move in your favor
      You wait for the prices to reach target to book out but prices reverse without reaching there and majority of the profit is lost.
      Quick move in your favor and immediately all the move is retraced
      You keep on looking for the setups but they do not appear and once you lose the focus, it happens and you miss it.
      You wanted to take the trade on the setup, but let it go thinking it is not that good and it turns out to be a good one
      You have missed a good trade and now you find it very difficult to wait patiently for the next one.
      You book out in profit, feeling happy and prices continue to move in your favor much more, making you curse yourself, why did I book out.

      For the first trade, the target was the recent high which was just above couple of points of HOD. You could have booked at that level with around 35 points of profit. What was the reason for your greed?

      Second trade is fine. It did not work and you have to exit as scratch.

      URD

      Delete
    2. I m thinking of BRN 9000 as target also earlier high is around 8995 area so i put exit at 8988 but it did not come if u exited at 8980 area well very highly precise execution . what can i say . definitely i have to work hard on my PA reading

      Delete
  2. I thought 1:59pm green candle itself as a breakout and entered long.
    However I could not trade the 1st trade... (it seems it is only meant for professionals like you .. )

    thanks for your post & elaborate reply to Prakash...

    :-)
    Zen

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    Replies
    1. Zen

      First trade was the only good trade per system. Direct BO was the mediocre kind of trade.
      URD

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  3. Hi URD n all
    2months holiday for my job, so I resume my blogging from today.
    Have a look at suniltrades.blogspot.in

    AKS

    ReplyDelete
  4. Hi, UR
    As you said... You could have booked at that level with around 35 points of profit.....Ok entry @ 8945 with reason of BPB and breakout of IR ..But which indicator indicatated to book profit at that level? As per DP setup low of the earlier candle broken then one has to think to take an exit...Here after the breakout / master/big candle second candle touched 8980 and low of that candle something 8962/65.. after breaking that low one has to think to take an exit ..so it comes near 8960 something.. so I think 35 points gain was on paper..practically it could have been 25/20 points only... is my reading correct?

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    Replies
    1. I think ur explanation seems convincible

      Delete
    2. Athshree

      You can book profit at strong S/R or when you are in good profit or when the trade reverses or not move in favor.

      The important point here is to decide upon your exit plan and stick to it.

      URD

      Delete