pls guide me day trading in silver mini

[richashu]

yesterday i short two lot gold mini aug contract @ 18340 and 18447 today i again short third lot @ 18640

 

[d_s_ramesh]

Please do not average a losing trade. If you keep shorting higher prices what is the stop for your trade. Keep in mind that you are trading futures, margin calls will get triggered and positions will be liquidated by the brokers with huge losses.

Keep sufficient capital as margin in your account. Gold is reaching for higher levels, what was the reason to short here. If you are convinced with your analysis to short, then stick to your rules. But please keep risks at the lowest. Gold is not behaving well into smooth moves, it has caught the high volatility fever.

 

[desifxtrader]

Thank you for giving me Your Money

yesterday i short two lot gold mini aug contract @ 18340 and 18447 today i again short third lot @ 18640

Dear Richa,

I was wondering why I always find you on the opposite side??

Yesterday i short 2 lot gold mini in aug contract @ 18340 and 18447 capital is one lac now what i can do i dont want to exit without profit.

Yesterday & day before yesterday, Gold made a U turn. Please refer the charts:

http://www.traderji.com/metals/39163-pls-guide-me-day-trading-silver-mini-4.html#post438092

It's perfectly okay to be wrong in a trade. Everybody - even Warren Buffet is not correct MOST of the time. But, it seems that you didn't read the point #1 in this post:

http://www.traderji.com/metals/39163-pls-guide-me-day-trading-silver-mini-4.html#post425082

When the very reason why you've taken a position in the market has been proven wrong by the market, why nurture and make the pain grow bigger & bigger day by day?

Never, never add to a losing position. You could be lucky once or twice if the price returns to your favor but 99% of the it doesn't.

 

[richashu]

i exit on my third lot @ 18580
short by 18640

 

[d_s_ramesh]

It is very nice to know about the wise decision you made to exit and reduce the burden on your account. Beyond everything is the joy of seeing that you have profited too in that trade.

Wonderful, keep your decisions on the high Rich... Rich ashu. (let the markets make you reach your RICH goals)

 

[richashu]

today i exit my second lot gold mini aug @18375 short by 18447

 

[richashu]

now in my hand one lot that is short by 18340 aug contract

 

[richashu]

pls send me the mcx silver or gold price history open high low close.from 2000 to till date

 

[drgargbaran]

yar rich ashu mujhe lagta aap vastav me rich ho aur hum sabko bana rahe ho

 

[richashu]

i hav short 2lot silverm 28782 and second is 28946