Day Trading Stocks & Futures

[primitivetrader]

not mistakes I guess... its part of the game...bcz charts always looks meaningful & predictive eod.

we just react and act according to our trading style.

I trade on front foot … using momentum divergence signals....today was lucky as the market took a reversal from signal point....a trend follower may not like this way and may prefer to wait for actual reversal to take a trade which delays the entry...

today index trading was very easy as it was nice and sustain down move from 11:00 am onwards also the upmove from moring lows were not a strong one.

 

[iwillwin]

not mistakes I guess... its part of the game...bcz charts always looks meaningful & predictive eod.

we just react and act according to our trading style.

I trade on front foot … using momentum divergence signals....today was lucky as the market took a reversal from signal point....a trend follower may not like this way and may prefer to wait for actual reversal to take a trade which delays the entry...

If you keenly observe your actions if at the point u took short, had the market continued in bullish direction u would have hit stops or in loss....ur ego would be hurt....chances of revenge trading...
Since trade went in your favour once, it builds on your ego and helps mind believe that u can short at levels as u would be mostly right....now imagine with this bias u r hitting stops 5-6 times in a row or taking losses....
Ur confidence in taking trade goes for toss and u start doubting ur thought process and stop seeing what chart or screen shows u ...

Counter trend trades should be avoided in my view as it mostly increases cost or risk/reward is very bad...

Thought of sharing my views and experience

 

[iwillwin]

after initial SL, it worked well after 11am, shame Nifty didn't went down to 8200 today


View attachment 41235

Tomorrow monthly close so should be watchful for nifty quality names...they may pull the index higher so better short at higher levels

 

[siddhant4u]

we are in bear phase, wait for sell signal, don't trade long. Even in stocks specially banks are giving good sell signal in every upmove (icici, sbi, hdfcbank etc...)

 

[mohan.sic]

on a lighter note, apparently what worked all along has gone out of the window so trading systems maybe shooting in the dark in current volatility
The trend is to wake up, beat the hell out of marquee names and send them home limping
this leaves very little room for constructive discussion.

agreed..but its like a cycle...fashion/trends come n go...you send them home in this market... they wil come back with a boom when this market situation changes...

 

[Riskyman]

 

[siddhant4u]

based on this , we should be seeing trillions of write off in next few years!! Why? Because for last few years Bank's NPA is growing and now stood at 10 trillion Rs. During fy 2018-19 banks write off was in tune of 2 trillion Rs, Til Dec 2019 it was 1 trillion.

so whatever NPA (10 trillion) was recognized in last 4 yrs will be marked write-off this year and coming next few years...

 

[mohan.sic]

If you keenly observe your actions if at the point u took short, had the market continued in bullish direction u would have hit stops or in loss....ur ego would be hurt....chances of revenge trading...
Since trade went in your favour once, it builds on your ego and helps mind believe that u can short at levels as u would be mostly right....now imagine with this bias u r hitting stops 5-6 times in a row or taking losses....
Ur confidence in taking trade goes for toss and u start doubting ur thought process and stop seeing what chart or screen shows u ...

Counter trend trades should be avoided in my view as it mostly increases cost or risk/reward is very bad...

Thought of sharing my views and experience

your views are very valid...what you said is almost perfect ...may be seeing my trade/post you formed a opinion that I prefer counter trend ..thats not the case at all...am completely aware of the risk..but..

...dont you think a trend trader will have those issues of Ego and revenge trading.....or lose confidence if his 5-6 stop loss are hit and starts doubting his system....these problems are equally valid to both types of traders...right ?

what happens is.... based on our trading experiences, we will become more comfortable to a certain style ..like going with the trend or going counter trend.

once we becomes comfortable with a style, slowly we will start to believe that this is good and this is bad or this is better that that....but in reality neither of way is good nor bad.... its just the market movement that will decide which will work on that day. this is my view....but yeah going with the trend will reduce overall risk.

 

[Positivetrader]

No need to panic, COVID-19 is something we can easily conquer: Padma Bhushan Dr D Nageshwar Reddy

https://www.newindianexpress.com/li...ical-expert-dr-d-nageshwar-reddy-2123093.html

 

[iwillwin]

your views are very valid...what you said is almost perfect ...may be seeing my trade/post you formed a opinion that I prefer counter trend ..thats not the case at all...am completely aware of the risk..but..

...dont you think a trend trader will have those issues of Ego and revenge trading.....or lose confidence if his 5-6 stop loss are hit and starts doubting his system....these problems are equally valid to both types of traders...right ?

what happens is.... based on our trading experiences, we will become more comfortable to a certain style ..like going with the trend or going counter trend.

once we becomes comfortable with a style, slowly we will start to believe that this is good and this is bad or this is better that that....but in reality neither of way is good nor bad.... its just the market movement that will decide which will work on that day. this is my view....but yeah going with the trend will reduce overall risk.

Of course if one is comfortable, stick to it...our style should never be a burden when in trade else there is no point of comfort then whether it's with the trend or against the trend