Daily target of 5%

[bashasm]

Took Long in NCC [email protected] [email protected] as saw buying in NCC.....added another [email protected] as saw it broke previous resistance Avg @54.55 SL thought at 54.50 so far so good....Then stock went to 54.55 thought it would bounce back then it went to 54.20 thought once it would go to 54.45 will get out then it when to 54.00 thought nautral level for some buying but it broke that level n i got out the point where what they call you snap and got out at 53.80....Loss -1320 View attachment 38277

I am a beginner myself, but why don't you see the resistance at the highlighted area.
Of course, I myself know, in real-time it is very difficult and everything becomes second nature after the market

Great work, by the way, I request seniors to come forward and correct your mistakes so everyone can learn

 

[vinit_7801]

I am a novice myself, but why don't you see the resistance at the highlighted area.
Of course, I myself know, in real-time it is very difficult and everything becomes second nature after the market

Great work, by the way, I request seniors to come forward and correct your mistakes so everyone can learn

View attachment 38280

Ya you are right but it real time before the candle is formed it feels like the resistance is broken as high was broken anyways the real reason to add up was my inital risk of .05 was covered so thought of keeping the SL at 54.55 but immediately it when to 54.45 and i got trapped

 

[bashasm]

Ya you are right but it real time before the candle is formed it feels like the resistance is broken as high was broken anyways the real reason to add up was my inital risk of .05 was covered so thought of keeping the SL at 54.55 but immediately it when to 54.45 and i got trapped

I feel it every single time, part of the reason is "fear of missing out" on the trade.
Once I enter the trade, again fear of losing, that might be due to previous losing trades

 

[TraderRavi]

I feel it every single time, part of the reason is "fear of missing out" on the trade.
Once I enter the trade, again fear of losing, that might be due to previous losing trades

"fear of missing out" , one of biggest loss maker for me

 

[Smart_trade]

"fear of missing out" , one of biggest loss maker for me

Have a properly defined set up on your chart / System and when a trade comes from that set up,take it without second guessing......so there won’t be any fear of missing out.

ST

 

[bashasm]

Have a properly defined set up on your chart / System and when a trade comes from that set up,take it without second guessing......so there won’t be any fear of missing out.

ST

ST Da
One more problem would be once you enter the trade, let us say the trade went in your direction and will start reversing from there

What shall we do in these cases
1) Stick to the stop loss
2) Take the partial profit and exit (in some cases once you book your profit, it spikes in your initial expected direction )

What would you advise, one shall follow would yield better results over the long term...

 

[Smart_trade]

ST Da
One more problem would be once you enter the trade, let us say the trade went in your direction and will start reversing from there

What shall we do in these cases
1) Stick to the stop loss
2) Take the partial profit and exit (in some cases once you book your profit, it spikes in your initial expected direction )

What would you advise, one shall follow would yield better results over the long term...

As the trade moves in your favour you have to trail your stops.So if the market reverses, it will take you out at the trailing stoploss ( and not wait till the initial stoploss ) ...you can consider supports/ resistances marked on the chart to take partial profits if you like....this partial profit also should not be taken too close to our entry point.We need to give space for the trade to work...

ST

 

[vinit_7801]

While amateurs go broke by taking large losses,professionals go broke by taking small profits...... William Eckhardt in New Market Wizards

As the trade moves in your favour you have to trail your stops.So if the market reverses, it will take you out at the trailing stoploss ( and not wait till the initial stoploss ) ...you can consider supports/ resistances marked on the chart to take partial profits if you like....this partial profit also should not be taken too close to our entry point.We need to give space for the trade to work...

ST

 

[Smart_trade]

While amateurs go broke by taking large losses,professionals go broke by taking small profits...... William Eckhardt in New Market Wizards

Professionals don’t realise but this actually is a fact.....small profits don’t cover the losses and brokerage / taxes and the account bleeds slowly but surely....

ST

 

[bashasm]

Professionals don’t realise but this actually is a fact.....small profits don’t cover the losses and brokerage / taxes and the account bleeds slowly but surely....

ST

Then the solution would be fixed RR?