trading emotions

[SDL]

this is called self distruction , this trade i take of without any plan , just trying to bottom phishing and get burnt , very frustrative trade ......where is disclipine in RT ?

 

[amitrandive]

this is called self distruction , this trade i take of without any plan , just trying to bottom phishing and get burnt , very frustrative trade ......where is disclipine in RT ?

"The enemy is not out there , the real enemy is within you"
"Keep calm , but also patient and persistent."

 

[Shantala]

It would be helpful if you put charts indicating where you took trade.

 

[SDL]

today emotional plan :

yesterday on daily we got a doji type candle , so it's high low will be crucial for today ,
7578 and 7513 are the lvls to watchout , any bdf/bof is a better trading opportunity ,
or may take long/short on breaching of lvls with a tight sl of 7-8 points .
and plan is to trail the positions with either mpl's/mph's or by trailing sl with an atr based stoploss which ever is lower .....

yesterday the trade without any plan wipes initial gain + my confidence , after that i spot 3 opportunities clearly but unable to trigger it due to previous loss trade , here really it is easy to say but it is very difficult to win over emotions ......

 

[SDL]

today emotional plan :
as expected market roars after crossing 7578 lvls ,
now as per me two scanerio is possible :
1)market continue it's speed and trend and may break all time again soon .
2)market may consolidate around some 30-50 points like up-down and goes no where and becames playing sideways 2-3 days .

first no. possibility is little less as iran problem , rupee problem and strict steps by namo for controlling mahnagaai .

market has his own flaour and suprise us by it's way , so just follow price action is more important rather than thinking where it goes .

current trend is up in all tf's , so i take trade from long bias with a little sideways to be in mind.

 

[manishchan]

@ SDL.. came across this thread today and good to see that you are starting with a solid plan. Just stick to it...especially with the emotional plan.

All the Best !! Keep posting..

 

[SDL]

doesn't expect too much volatility ,
for me yesterday a trade on break on 7538 lvls but by seeing such a large down candle i change my mind and not dare to take any trade .i have seen such volatility in commodites but not expect same here in nifty , but it is market it always suprise us , i am a small scared person , so unless my setup does not allow me , i am in soh mode .

today emotional plan :
for me long above 7625 and short below 7513 , in between no trade .
trading with strict sl of 10 points and trail with mpl/mph or atr stop which will lower ....
resistance at 7673 , 7682 , 7715
support at 7498 ,7438 ,7385
if 7625 is crossed by volume than a adding opportunity at 7673.

 

[SDL]

bad day , not able to understand the mood of market ,
today i buy on a hammer with a small sl and stooped out
again a hammer formed i buy above it gives around 12-13 points , but i think it may give 30 points so not book it and it reverse and hit my sl ....

 

[SDL]

have not stick with my own rule , may be mentally i am not fit for trading , will reconsider my desicision of full time trading ......

 

[manishchan]

have not stick with my own rule , may be mentally i am not fit for trading , will reconsider my desicision of full time trading ......

@ SDL.. don't loose hope because of a few day's of loss. It happens. But I hope you are trading based on well defined methods. Consistent profit takes time and profit... but there MUST be a plan and method to trade.