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| Discuss i love day trading at the Trading Psychology within the Traderji.com - Discussion forum for Stocks Commodities & Forex; U r right After looking at charts of my trades i cant make head or ... |
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| Trading Psychology Discuss the psychological aspects of trading such as fear, greed and discipline. |
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#51
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U r right
After looking at charts of my trades i cant make head or tail but for e.g take Hindzinc a nice uptrend at 1:04 i enter at 660, the previous reastion was at 655 so i put SL at 655 not it breaches that & the uptrend resumes Specifically i want to capture even 1/2 of the moves like this Satyam from 10.35 to 12.10 & again from 12.10 to 1.46 these moves were perfect trends Naveen PS: plz accept my ignorance, i am a novice |
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#52
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NAVEEVIa,
Obviously you don't have a trading plan. Just curious, how do you trade? To make things easier (for starters), it goes like this: Trend on Dailies>Trend on 60 minute?> then you trade on 5 or 10 minute charts. Read Dr Alexander Elder's books. ss
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#53
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Ok i will start reading it now
Thnx Naveen |
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#54
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#55
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I THINK AS A NOVICE TRADER YOU ARE DOING QUITE WELL, BECAUSE YOU ARE ALWAYS USING A 0.5% STOPLOSS. THATS THE MOST IMPORTANT POINTS YOU ARE FOLLOWING REGULARLY. I APPRECIATE YOUR MENTAL STRENTH. YOUR STOPS ARE GETTING HIT 9 TIMES OUT OF 10 TRADES, STILL YOU ARE USING MENTIONED STOPLOSS LEVELS. THATS A GREAT THING TO BE A SUCCESSFULL TRADER. THE PROBLEM WITH YOU THAT YOU ARE DOING TOO MUCH TRADES IN A DAY & TRY TO FIND A PIN POINT ENTRY POINT FOR YOUR TRADES. |
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#57
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IT SHOULD BE A BREAKOUT ENTRY, LIKE TODAYS HIGH BREAKOUT, PREVIOUS DAYS HIGH BREAKOUT, PREVIOUS WEEKS HIGH BREAKOUT ETC.
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#58
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ya actually its fun doing the intraday......and its gr8 if u make money at the end of the day
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#59
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Quote:
Where do you buy/sell, SL etc ( pin point) |
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#60
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i find breakout points after closing bell. on the next day i place a limit order above the breakout level. after breakout i just place a sl order below 0.50% from my buy price. if it hit sl then my loss is around 0.80% (including brokarage). basically i dont book profit at a particular target level. i close my position at 3:15 pm. Last edited by biyas10; 27th February 2007 at 02:06 PM. |
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