Hello
Starting a new thread, I will track the Bank Nifty Future for the Feb '10 series here.
The objective is to try to gross minimum 1000 points. Initial position size will be 1 Lot will build addition position when the initial trade gets going in the favorable direction (max 3 more positions).
I will try to follow the trend. I will be mostly using Hourly & 15 Minutes charts to gauge the direction of the market with just the price based decision, nothing else. I also use a daily chart but hardly refer to it during the trading hours, mostly useful to understand the big picture.
Will not be using any specific entry/exit triggers, just trail the stop, mostly along with the stop will also take the reversal but not always.
I know its fashionable to say "Trade what you see and not what you think" but I am not sure how one can disassociate the mind/brain from trading decisions.
We See the Price Movement and try to gauge in which direction the markets are moving and take the position in the direction of the markets, we do not worry if it continues to keep going in the same direction, just tag along with it, if we get a reversal so be it we move with the trade to the opposite side Long ... / Short ... / Long ... / Short ...
No worries as long as 40 % or more trades turn out to be winners. No worries even if our drawdown goes to -1000 points (sounds like a familiar figure
This is not a recommendations thread and if anybody wants to uses the levels use them with your own discretion.
Hoping for a boring, monotonous and hugely profitable month
Starting a new thread, I will track the Bank Nifty Future for the Feb '10 series here.
The objective is to try to gross minimum 1000 points. Initial position size will be 1 Lot will build addition position when the initial trade gets going in the favorable direction (max 3 more positions).
I will try to follow the trend. I will be mostly using Hourly & 15 Minutes charts to gauge the direction of the market with just the price based decision, nothing else. I also use a daily chart but hardly refer to it during the trading hours, mostly useful to understand the big picture.
Will not be using any specific entry/exit triggers, just trail the stop, mostly along with the stop will also take the reversal but not always.
I know its fashionable to say "Trade what you see and not what you think" but I am not sure how one can disassociate the mind/brain from trading decisions.
We See the Price Movement and try to gauge in which direction the markets are moving and take the position in the direction of the markets, we do not worry if it continues to keep going in the same direction, just tag along with it, if we get a reversal so be it we move with the trade to the opposite side Long ... / Short ... / Long ... / Short ...
No worries as long as 40 % or more trades turn out to be winners. No worries even if our drawdown goes to -1000 points (sounds like a familiar figure
This is not a recommendations thread and if anybody wants to uses the levels use them with your own discretion.
Hoping for a boring, monotonous and hugely profitable month
