Trading Price Rejections, Fakeouts

[mike21]

Exits: So far I have looked at only closing at LTP. May refine the exits later.

Hi trader.trends

What is LTP?

~Mike

 

[bandlab2]

todays trades

LT -- SL
HDIL, Grasim, Educomp -- Target Hit
RelCap -- in profit zone

 

[bandlab2]

RelCap hit target
Unitech - in profit zone. almost hit target

 

[trade_blore]

Hello Bandlab,

Your strategy is quite interesting and I have been tracking it from sometime.

Can you please tell us, how you set your target prices, once your trade is triggered? what is this LTP? Today, you dont seem to be using LTP.. or am i wrong in understanding the targets?

Best Regards,

Trade_blore

 

[bandlab2]

my rules are simple. i have risk rewrd ratio as 1:1

when we enter LONG, first find out the stoploss. its lowest of last 2 days. now add this much on other side book profit.

if entry is at 165. SL is at 163, then take profit is at 167.

same thing for shorts

i am not sure how TT is calculating his TP

today mostly hit targets...

 

[trader.trends]

Hi trader.trends

What is LTP?

~Mike

LTP=Last traded Price

 

[trader.trends]

Hello Bandlab,

Your strategy is quite interesting and I have been tracking it from sometime.

Can you please tell us, how you set your target prices, once your trade is triggered? what is this LTP? Today, you dont seem to be using LTP.. or am i wrong in understanding the targets?

Best Regards,

Trade_blore

The strategy that I use is when the 2DH/L breakout happens and then the Previous close breaks take the trade. I hold it till LTP (theoretically). Here I only decide the risk and let the markets decide the rewards. Since the strategy is still a fledgling one, I will tweak it after some time.

 

[trader.trends]

Yesterday, HDFC triggered the trade resulting in profits.

Today, Bharti broke the 2DH and then the PC giving good returns. Other 7 stocks did not trigger any trades.

 

[trade_blore]

Thanks to both TT and bandlab for clarifying your exit strategies.

Regards,

Trade_blore

 

[trader.trends]

Bharti broke 2DL and crossed PC triggering the trade. SL at day's low as 2DL and PC are almost same.

Reliance triggered after breaking 2DL.