Thank you Kharikumaar for this setup. :thumb:
Does the Laguerre indicator also feature in your setup of do you only trade based on the Pivot, Stoch and MACD?
Rule is don't turn your profits into loss
I have seen traders making small profits then losing big chunk of their cash and end up into zero balance.
Control your patience and mind. Try to feel the market and have stop loss.. Yes STOP LosS. Don't overtrade if you have lost some money. Make assessment and come with plan and time to recover it. Make regular pay outs it will give confidence
to further add to the above, in case you have a couple of losing trades it is better not to trade that day since the losses would be weighing on your mind and in the determination to regain the losses we end up taking hasty calls and add to our losses.. better to log out and come back with a plan the next day. it is hard but definitely less painful.
have a method for your stop losses. it is totally dependent on the individual , but follow it strictly. i have had many days when , after i take a position with a stop loss, the day's low/high will be exactly that. but i still keep to SL very strictly and it has been beneficial in the long run.
Hope that covers the questions / clarifications sought.
sorry once again guys, i couldnt reply earlier, i had not logged in for quite some time since i had a lot of other pressing issues and travel.
Hope that covers the questions / clarifications sought.
sorry once again guys, i couldnt reply earlier, i had not logged in for quite some time since i had a lot of other pressing issues and travel.
possibly, i have never tried it. since i do not use any data feed from anyone i do not know if it works. i use a different method/strategy for index trading based on the days first 5 minutes of movement. my personal view is there is a good amount of manipulation in the indian stock markets by the big players, and many a time i have seen it go totally against all international / indian market news/ indicators. i remember a day when the inflation in india went up from 9.5 to 11.5% , the general indication is the market should fall, but the nifty/sensex rose by over 2 %.
my method for nifty is broadly based on a method i had learnt from the thread " Feed a man a fish.........." by Saint.
really sorry, i do not use amibroker, only MT4 . i have no idea where to get the afl for laguerre. maybe you should try the request on the software threads.
GM kharikummar. How are you? Thankyou to give your method. I will try it last 3 months in paper trade on 2 may 2016 onwards i will plan for real trade. Thanlyou once again.