Lost Trade on IPCL

rajesh.sadhanala · #1 6th June 2007, 02:22 PM

Hi friends,

My trade set up on IPCL

Entry = 354
SL = 340 (triggered)

Just want to analyse where it went wrong. All members input are welcome. Just want to dissect and lets see if we can learn anything.

Regards
Raj

Linus · #2 6th June 2007, 05:51 PM

Quote:

Originally Posted by rajesh.sadhanala

Hi friends,

My trade set up on IPCL

Entry = 354
SL = 340 (triggered)

Just want to analyse where it went wrong. All members input are welcome. Just want to dissect and lets see if we can learn anything.

Regards
Raj

Here are the reasons why you should not have gone long

on IPCL.

ss

rajesh.sadhanala · #3 6th June 2007, 06:18 PM

Quote:

Originally Posted by sunil saranjame

Here are the reasons why you should not have gone long

on IPCL.

ss

This is the list I found out to be costly affair.

1. Volumes prooved to be costly affair. I always concentrate on price and volumes but neglected volumes in this trade.
2. Entered into the trade well before the valid break out

Sunil, Help me out on this three things

1. Close is near the trading range but it looks well above the trading range
2. What does the Doji suggest in this context.
3. What does 10 DMA suggests if it stays below.

Regards
Raj

oxusmorouz · #4 6th June 2007, 07:06 PM

Quote:

Originally Posted by rajesh.sadhanala

This is the list I found out to be costly affair.

1. Volumes prooved to be costly affair. I always concentrate on price and volumes but neglected volumes in this trade.
2. Entered into the trade well before the valid break out

Sunil, Help me out on this three things

1. Close is near the trading range but it looks well above the trading range
2. What does the Doji suggest in this context.
3. What does 10 DMA suggests if it stays below.

Regards
Raj

Please do not delude/comfort yourself with reasons. I don't know if I'm educated enough to comment on this but from what I can see, losing trades is not a fault,but an unavoidable output from the process of trading. I really doubt if any of the above causes triggered the loss.

Saint · #5 6th June 2007, 07:27 PM

Hi Raj,

This trade could have gone either way...........part and parcel of trading.Always remember that a trade that made profits where you followed your plan and all processes is a WIN trade.A trade that was stopped where once again you followed all processes is again a WIN trade........important thing being the sticking to the game plan.

So yours was a WIN trade,you got stopped,a pat on the back for being unlike the many who would be hoping and praying.Great going........now look to the next trade!

Saint

ps:Great post by Oxus above.

Linus · #6 6th June 2007, 09:14 PM

Quote:

Originally Posted by Saint

Hi Raj,

This trade could have gone either way...........part and parcel of trading.Always remember that a trade that made profits where you followed your plan and all processes is a WIN trade.A trade that was stopped where once again you followed all processes is again a WIN trade........important thing being the sticking to the game plan.

So yours was a WIN trade,you got stopped,a pat on the back for being unlike the many who would be hoping and praying.Great going........now look to the next trade!

Saint

ps:Great post by Oxus above.

Hi Saint,

Yes, a pat on the back, takes care of the wounds, but given the kind of price action, the question still remains open whether a trade on the long side should have been initiated in the first place.

ss

pshirurkar · #7 6th June 2007, 09:21 PM

hi mr rajesh,
market always behave as per the tech analysis is not 100% true. your study and analysis is correct.and as a precautionary measures you have perfectly put your stop loss.from your side nothing is wrong ,but such things are inevitable in the market
so forget about it and cocentrate on next trade. what mr SAINT says is perfectly right.

oxusmorouz · #8 6th June 2007, 10:01 PM

Quote:

Originally Posted by sunil saranjame

Hi Saint,
the question still remains open whether a trade on the long side should have been initiated in the first place.

Hi Sunil,
Again, I do not know if I am educated enough to comment on this...but I hope to learn by expressing my view.
How does do you know that the price which has been trending in one direction will not reverse and go in the other direction tomorrow? Don't indicators (price based, volume based) point out what has already happened than what is to happen?

Linus · #9 6th June 2007, 10:02 PM

Quote:

Originally Posted by pshirurkar

hi mr rajesh,
market always behave as per the tech analysis is not 100% true. your study and analysis is correct.and as a precautionary measures you have perfectly put your stop loss.from your side nothing is wrong ,but such things are inevitable in the market
so forget about it and cocentrate on next trade. what mr SAINT says is perfectly right.

Nothing adds much,to the point. You are just echoing Saints view. Was the original decision to open a trade on the long side correct? We just can't say 'forget about it and carry on to the next trade' unless this issue is resolved first.

ss

Dev Mookerji · #10 6th June 2007, 10:09 PM

You guys are seniors & more experienced then me. But I would like to mention here that, there was buy signal 2 weeks back on IPCL. I had given a call on this, which was quiet successful.

http://www.traderji.com/trading-tech...ding-tips.html

Dear Raj, I think, timing was not correct for ur entry @ this point, as it was already in an overbought position & some shorttime negative divergence were there in the oscillators.

regards
dev