General Trading Chat

[lemondew]

Thanks well said. I was also responding in context of what amandeep said. Listening to market was response to his problem. " PA looks well at end of day not while trading"

Well if we have 3 higher lows being made we are in a rising market and so we go long. On a bad day In one candle we can have low which is lower than the first of higher low. At hind sight (EOD) we can say aah there was resistance and it was short at that level. We have often seen gains made in 4 hours loose in 15 mins last weeks :rofl:. what a fool I was looking at these higher lows being made continuosly. So may be I am not watching market properly (or listening or feeling) .

The answer lies in convincing yourself.
1) what probability a series of higher lows further leads to more higher lows and a high. What kind of money I make if it works and what I loose if it doesnt.
2) Whats been the general trend of market.
3) Open interest.
4) Global factors.

Does it make sense for me to close my eyes and foresee a rise in graph and put my money there? If so then do it and if I worry about making a loss I can never ever make money in market. Regarding exit. After all the efforts in seeing a good probibility entry for me which may not be for someone else. Lazy me I exit at a predefined target /SL :lol: not having patience to exert more. But may be if I do that I may get a day off.

I never used the phrase react to the minutest changes,i said one must adapt to the minutest changes.
Sideways breakout,sideways breakout is standard process of market movement,and i agree with you that one has to be patient and let their profits run,running profits is key to long term success.


Hope this makes sense.
;-)

 

[headstrong007]

3 Days long holidays too much :annoyed:

Lagta hai issee gambling ka adat ban gaya. Chutti pe Koi isse satte ka thek me le jao yaar. :lol:

 

[VaibhavPRO]

I never used the phrase react to the minutest changes,i said one must adapt to the minutest changes.
Sideways breakout,sideways breakout is standard process of market movement,and i agree with you that one has to be patient and let their profits run,running profits is key to long term success.
But have have you paid thought to the fact that because market moves 3 step forward and 2 steps back ,it is very easy for anyone to become wishful in their thinking and loose their unbiased attitude in the market.
so what may be an impending sign for reversal,in the form of 2 steps back can easily be regarded as just a normal two steps back.

Consider a trade where you had done a short and market moved 50 points in your favor,and then pulled back,20 points then moved 21 points in your favor again then pulled back 10 then went 10 points in your favor then finally pulled back 20 points to form a small range of 20 points,have you thought this range could actually be a support forming which can destroy all your profits.

Fact is when someone is winning they just close their eyes to all ticks that eat away the profit,when someone is loosing they close their eyes to loosing ticks instead focus on moves in their favor.
When you adapt to market changes you potentially prepare to close your profitable trade for a small profit- (in case market reacted according to the system you trade,by giving signal in the opposite direction).

You not only prepare to close profitable trade for less profit but get ready to trade in the opposite direction.
All things being said the trading system has to be the guide in helping traders make these tough decisions,
That post i made was in response to amandeeps question to DD , it was about listening to the market,and my opinion about listening to the market,and i really feel it is of utmost importance to be a good listener,but only what market wants you to listen,we don't wanna be paranoid in our thought process,neither want to be wishful,in our thinking.

Listening to the market means listening to your system when it signals opposite move to your plan.(provided system works)
Market is like a big city and your trading system is the GPS,but people just throw away their GPS,hell even i throw away the GPS from time to time.

You may yell at the top of your voice that you follow your system 100 percent but as soon as we are in market 30 percent of the time rookies become deaf and blind and stop seeing what market is saying,what their system is saying.We just throw away the GPS and say nahhhh i don't need it
I can handle myself.

It is entirely possible,for us to become wishful in our thinking,and stop listening to market and our system.being adaptable solves this problem.

So i am not saying be a paranoid guy and close your good positions for small profits, i am saying we just trade the position to the potential it has,and not impose our feelings of what we feel it has the potential for moving.

We follow the system.
We adapt to the change in market conditions.
Then we prepare to decide, to make the tough decision based on our system.

This is as simply as it can be put,their is no two way about it.
Women always complain men,don't listen,because we really don't listen.
But i am trying,and i am getting it right most of the time,as time passes by.

Hope this makes sense.
;-)

Wow.. Gem of a post. :clap::clap::thumb::thumb:

 

[Tavnaz]

Thanks well said. I was also responding in context of what amandeep said. Listening to market was response to his problem. " PA looks well at end of day not while trading"

Well if we have 3 higher lows being made we are in a rising market and so we go long. On a bad day In one candle we can have low which is lower than the first of higher low. At hind sight (EOD) we can say aah there was resistance and it was short at that level. We have often seen gains made in 4 hours loose in 15 mins last weeks :rofl:. what a fool I was looking at these higher lows being made continuosly. So may be I am not watching market properly (or listening or feeling) .

The answer lies in convincing yourself.
1) what probability a series of higher lows further leads to more higher lows and a high. What kind of money I make if it works and what I loose if it doesnt.
2) Whats been the general trend of market.
3) Open interest.
4) Global factors.

Does it make sense for me to close my eyes and foresee a rise in graph and put my money there? If so then do it and if I worry about making a loss I can never ever make money in market. Regarding exit. After all the efforts in seeing a good probibility entry for me which may not be for someone else. Lazy me I exit at a predefined target /SL :lol: not having patience to exert more. But may be if I do that I may get a day off.

The Red highlighted Part.
We have all been there.
Keeping the gains in our pockets is the hardest part sometimes,but it becomes easy with time,as we gain skill.

A good post lemondew,
I feel the emotions in your post,there is a personal touch in it.haha:clapping:

;-)

 

[pareshR]

Good Morning
hope all missing school life

 

[wisp]

Good Morning
hope all missing school life

yes very much so.. missing school days and school friends.

 

[TraderRavi]

CPI/WPI/IIP data dates for october ?

 

[TraderRavi]

Lagta hai issee gambling ka adat ban gaya. Chutti pe Koi isse satte ka thek me le jao yaar. :lol:

one more person who thinks stock market as gambling den :lol:

 

[TraderRavi]

Gap up opening :
Nifty 8005 +54
Banknifty 17373 +223

 

[timepass]

Nifty (spot) open = low = 8005.1