hi tt,
today i traded as per your list and approach. still things are not clear to me as far as money mgmt part is concerned. where do u put stops ? where do u put your take profits ? u mentioned if PC and 2DL are almost same , then take today L. But what happens when today L is too far. also how do u figure these 'almost close', 'too far' things. today i entered bharti, but put my SL as per 2DL , at one time its in 6 rs profit but soon it hit SL and started going up again. where do u take profits ?
then RIL triggered buy at 1053, went up gave 10 rs profit. but didnt book, wanted to wait till EOD. then it came down, went up and finally ended in 3 rs loss. nothing is more frustrating than seeing the profits evoperate. if i had followed my FIXED tp, sl rules i would have booked profits in both cases
then at 2:30, i got HDFC buy at 2430, it didnt move up much , came down , closed at 2398. again the 2DL is very deep.
TT, how can we handle this MM issues ? entry is fine. but exits have to be properly handled. also lot size has to be proper to manage the risk depending on how deep yr SL is.
today i traded as per your list and approach. still things are not clear to me as far as money mgmt part is concerned. where do u put stops ? where do u put your take profits ? u mentioned if PC and 2DL are almost same , then take today L. But what happens when today L is too far. also how do u figure these 'almost close', 'too far' things. today i entered bharti, but put my SL as per 2DL , at one time its in 6 rs profit but soon it hit SL and started going up again. where do u take profits ?
then RIL triggered buy at 1053, went up gave 10 rs profit. but didnt book, wanted to wait till EOD. then it came down, went up and finally ended in 3 rs loss. nothing is more frustrating than seeing the profits evoperate. if i had followed my FIXED tp, sl rules i would have booked profits in both cases
then at 2:30, i got HDFC buy at 2430, it didnt move up much , came down , closed at 2398. again the 2DL is very deep.
TT, how can we handle this MM issues ? entry is fine. but exits have to be properly handled. also lot size has to be proper to manage the risk depending on how deep yr SL is.
